Why Search For Property Owners First? Here’s Five Reasons
Summary
This article from BiggerPockets discusses how real estate investors and service providers can find property owners using a tool called PropStream. Hosts can use this to find owners of potential vacation rentals or properties for management, along with contact information, to initiate conversations and build their business.
Key Insights
- •Only 2% of sales occur on the first contact, while 80% of sales require at least five follow-up calls.
- •44% of salespeople give up after one follow-up call, and roughly half never follow up after the initial call.
Action Items
- ✓Consider using PropStream or a similar tool to identify property owners, especially for off-market deals or vacation rentals you might manage.Effort: mediumImpact: medium
- ✓Implement a follow-up strategy, since multiple contacts are key to winning deals.Effort: lowImpact: medium
Tools & Resources
- →PropStream: PropStream is a data platform that aggregates public records, MLS data, mortgage information, and marketing tools.
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