MLS Listing - Finding Motivated Sellers Searching MLS Listings

http://www.REIClub.com - The MLS Is A Powerful Tool For Finding Motivated Sellers. Here's A Quick Video On Using MLS Listings To Find Motivated Sellers...

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got quick video on how to find motivated sellers using the Multiple Listing System

The multiple listing service (MLS) is a fantastic FREE tool for real estate investors. With it's specific search criteria it makes finding properties very easy. You are also able to setup automatic email notifications the moment New properties are uploaded into the system that fit your mls listing criteria.

Customize Search Results within MLS

- Radius Search, within a specified distance from a target address
- Property Type - Single Family, Multi-family (duplex, 4-plex)
- Subdivision, Section
- Price range from low to high
- DOM - Days on Market

Tip - The more specific the criteria, the higher chance there will be less results. Tweak these around till you find a balance. Prices are not concrete, always room for negotiation.


Keywords: In the Remarks section
- Short Sales: short sale, Give bank time to respond, preapproved by bank, short sale, preforeclosure, notice of default
- REOs: REO, Bank owned, foreclosure(s), HUD, repossessed home
- Expired Listings: motivated seller, simply request "expired listings"
- Handy Man Specials: handyman special, investors delight, rehabbers wanted, needs work, investors welcome, fixer upper




DOM: - ADOM vs. CDOM - Actual vs. Current - 0-90 days - still fresh - 90-180+ Days - 3-6 month - better hot spot for finding motivated sellers - More than 180 Days - - Price Reductions vs. DOM - How fast was the price reduced?

Pricing:

- $/sq.ft - List Price/Sq.Ft - generally much lower than the median of your bought/sold comps
- can search MLS listings specifically for properties with price reductions
- can check specific property histories for price reductions and price history

Multiple Listing Services have always been a great real estate investment tool, but I noticed that not all real estate investors know how to create specific searches to find what they are looking for. So I hope this real estate investing video provided you with some helpful tips that you can apply immediately in your business and start finding those motivated sellers in the MLS.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.
http://www.youtube.com/watch?v=cKV24tMUBPM

Category:

Education

Tags:

• mls listing
• mls listings
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• multiple listing service
• multiple listing services
• mls real estate
• mls real estate listing
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• mls real estate search
• motivated seller
• real estate
• real estate investing
• invest in real estate
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• real estate club
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• rei club
• reiclub

[Szabonewsblog]

Hello, I have a question about gaining access to the MLS. Is this a service that I will have to pay for with Real Estate Agency or is it something I can just ask for and they wil give me access? Please help me

Thanks

[reiclub]

@Szabonewsblog - Good question. This is actually a slippery subject. Legally, Real Estate Agents are not allowed to share their personal MLS access, ie. login info, with anyone. They can lose their license if they do. No, you don't have to pay them an upfront fee for them to help you find listings, but yes you have to pay them if they become your Buying/Selling Agent. If you are new, work with an agent. If you are experienced and have rapport with agents, there's a bit more "flexibility" there.

[elliepoerocketmail]

I like the video but could you make a video with more information and less speed? or do a part 2 or 3 to the same video topic?

[reiclub]

@elliepoerocketmail - Great Suggestion! We are actually planning on doing that already. The purpose of each video is to highlight the most important details of a broader topic. You can expect to see different variations of the same topic. For example, MLS Listing - How to Find Buyers Searching MLS Listings. Hope this answers your question.

[plenty4ud]

I enjoyed the video good information. I would like information on how I can find the right real estate agent to work with me, the real estate investor. I have used the MLS service before. Do you have any suggestions.

[reiclub]

@plenty4ud - sure do. Find this video in my channel "Real Estate Agent - Investor Benefits of Working With Real Estate Agents"

[guitargeniusofficial]

Hi,excellent tips! Congratulations.

[reiclub]

@pgpeachess - Fill out one of our contact forms at REIClub.com. We can help you further there. We are responsive within 24 hours of receiving your email.

[reiclub]

@cjae829 - What @Amel22 said. haha. I am generally trying to fit everything within 5-6 minutes, so i don't bore you, but everything you need to know is in the description of each video. If you don't find what you need, leave me a comment.

[Amel22]

@cjae829 Everything he pretty much says in the video is written in the description, reading it helps you understand it even more.

[lynnebrndtt]

You were very informative, Frank

[CarolAnnPaulton]

Another useful piece of info I use when searching for investment property deals is the "occupancy" tab in the MLS. Vacant homes (whether a conventional sale or short sale) are draining the sellers finances and pose future liabilities for the banks.