In our outbound marketing campaigns, several home sellers that we initiate contact with, wonder and ask why we targeted that specific home, seller or location.
With regards to location, we want to clarify here what our main criteria are. Keeping in mind that, thanks to a very flexible model which is, in turn, possible because of a wide range of purchasing tools and strategies, while there can be main criteria, there is never just the one and only method of purchasing real estate.
With that being clarified first, let’s look at why we pick one location over another, when, in fact, we actually focus on one area, whether it’s a neighborhood, a town, a ZIP code, a county, a state or whatever other geographical area.
Since our main model and benefit to our sellers, mostly home sellers, is to optimize a selling transaction so, when we are the buyers, they get the most, the fastest and the easiest transaction, usually a combination of the three, with bias towards what achieves the sellers’ priority.
So, our sellers often encountered a challenge in their efforts, many times at no fault of theirs, or even the property’s. They don’t have to be distressed for us, although we love working with sellers who are in some kind of hardship, as it’s very gratifying to find a solution for them. It’s just right and it feels very good. Most of our sellers, in fact, are in much better shape than average, with pristine homes and low mortgage balances, if any at all. Many homeowners, nowadays, own Free & Clear of any debt.
We are perfectly happy to work with home sellers who are in the mood for making more money than they would if they sold to a “regular” home buyer, which in slow markets you never know when will show up, with no price reductions that can hurt financially, but can also be emotionally uncomfortable, because they didn’t foresee the need for a lower asking price.
Sometimes it’s just luck or it’s the location; even if there’s no reason to regret a purchase in a certain location, things sometimes change drastically and fast. The homeowner has no control over such events. It could be the same reasons that motivate the owners to sell and move. An example could be that some major employer is setting up and hiring a large amount of locals in a town nearby, which, inevitably, is going to tempt many into a short haul migration, especially if the commute isn’t particularly attractive.
So, the location where the property for sale is situated, isn’t as attractive as it used to be and is feeling strong competition from the nearby town real estate.
Homes start sitting on the market and theirs a limited number of buyer for more homes on the market. Some are just going to sit and the longer they sit, the less likely they are going to find a good buyer. It could take ages and multiple price reductions, all without having made any mistake!
Nothing wrong with the house itself, not even the location per se, there’s just less incentive to move there.
So, the seller, in order to move, has to lower the asking price until it’s low enough to attract a buyer that would move into an area that is not so attractive anymore.
Alternatively sellers could invest into the property and improve it, but the return from home improvements rarely make financial sense.
There has to be something that makes a house stand out, that doesn’t cost anything!?
That’s where we come into play.
If the solutions above don’t quite work for sellers, we can look into the property and the situation, and if it has potential as an investment for us, we’re definitely interested and motivated to buy without requiring improvements, no discounts, and even repairs may not be needed, especially if the house is otherwise in decent shape and good enough to be rentable without major work.
And let’s confirm the above when we say no discounts, it means full asking price! Only condition: that, while gathering information about all aspects of the property and the sellers’ circumstances, we see the potential for a return, and we’re good at figuring it out. That would be the only real deal breaker.
So, clearly, our best sellers are the ones looking for an alternative to the classic price reduction. Not all homes and sellers have the potential that justifies a deal with us, but when that happens, which is more often than many think, the challenge of selling the property without leaving money on the table, and sometimes actually making a little more, is over when we are the buyers.
This happens more easily in slower markets, because homes are selling slowly, especially if sellers don’t want or can’t reduce the price, make improvements or repairs, or any type of concession or incentive.
These are often locations in which there’s been a recent surge in property values, so significant, that a correction is occurring or imminent. When we can, quite randomly, we post the result of our research on our service website, prxm.xyz. We recommend following if you want to know first, but don’t assume we list them all; we are very busy buying all over the US. (Example: Punta Gorda housing market insights)
So, that’s a reason for us to look into markets that we find, based on info that we search and gather about local housing markets daily; the best ones with potential are the ones we like.
However, there could be many other reasons; to mention just one here, we just have a buyer in hand looking to buy a home or other property in that specific location, and we need to buy before we can sell, so that’s a strong indicator for us as to which market to look into. Or another would be an investor friendly area in an investor friendly state. Or many others; we are happy to explain, don’t be shy and don’t hesitate to ask.
I hope that helps address any sellers’ rather legitimate curiosity about our criteria when searching for the next real estate purchase, if not, let us know.
Let us also know if we should be calling you and we can speed up and optimize the process of buying your property while we make sure we talk to you too! Text or call 617-921-9265!
Same number for any real estate agent, broker or facilitator who can help us find a property or a listing agent who wants to see what an offer from us looks like.