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See how Absentee Owners can increase your Real Estate Business

by janeausten
Probate Sale

Is the market lacking? Or, are you at a loss on how to generate new leads? Absentee Owners can be the answer when typical methods give you dead ends.

Now, this begs the question, how do you find an absentee owner? But before that what’s more important is identifying who counts as an absentee owner before you use them to bump up your real estate business.

What is an Absentee Owner?

To put it simply, Absentee Owners are property owners who do not primarily reside at the home for one reason or the other. Here you should note that absentee ownership and vacant property are not the same things. In a vacant property, no one owns or has a claim to the property. Whereas, an absentee owner stills owns the home despite not occupying it. What this means is that they don’t reside there most of the time or at all, depending on the home’s purpose.

Why Absentee Owners are considered to be good leads for real estate professionals?

 One of the primary reasons why Absentee Owners make excellent leads is the fact that they have a property that can be burdensome to handle after some time.

The case strengthens for those who have suddenly inherited property with no knowledge or intention of property management, and also do not have the plan to move into the house themselves. They might also not have the budget to maintain an extra property, especially if the home has expensive property taxes, or has not been paid off.

These are the owners who will always look for a way to get the property out of their hands as quickly as possible. Absentee owner leads are something that can make for quick turnarounds for listing new properties if you can snag them.

The Different Types of Absentee Owners

Are you trying to track down some leads? Absentee Owners can include a wide range of people. Here we have mentioned a few that will help you get started on your search.

  • Vacation Homes: Whether a retreat in the mountains or a beach oasis, vacation homes are really attractive properties. But the only problem with these homes is that when kids grow up and move away and regular family vacations aren’t on the radar, vacation homes can be downright expensive.

Now, what’s the benefit of selling their vacation homes? First up, more money for retirement and secondly less stress as they have to manage one less thing on their plates.

  • Short and Long- Term Rental Owners: Homeowners who rent out their home, either as a quick way to take advantage of vacation housing apps or as long-term housing, can tire of owning an additional property.

Sometimes being a landlord becomes too much effort for their investment, and also something that people do not expect. Tending to tenants sometimes gets tiresome, even if the renters are lovely people.

  • Probate: If a property is in probate following a death, it is up to the executors of the will to manage it, and that includes everything that is in the deceased’s estate. In stressful times, especially with grief, the last thing anyone would want is to manage something as important as a property.

How to Find Absentee Owners?

Unlike typical real estate marketing methods, marketing to Absentee Owners is a fine art. The first step involves making an absentee owner list that you will target. Then, you should definitely give these methods a try.

  • Cold Calling: Cold call area numbers that are associated with rental properties or others. These numbers are confirmed by prior research.
  • Letters: An absentee owner letter is something that you can address directly to the property owner with reasons as to why you would be right to sell their home and the benefits that they can enjoy by selling it.
  • Neighborhood Canvassing: Alternatively, you can look out for homes that need some TLC. Check if the grass is overgrown or not. Do you find signs that advocate that it has been some time since anyone has been looking after the home? These are some of the signs that can point to potential Absentee Owners.
  • Research Rental Listings: You can also target rental listings like Listsource as they act as gold mines for finding leads. You should always be on the lookout for areas that are known to have a large number of rental properties.
  • Tax Records: A local tax assessor’s office will likely have a database of information that you can easily access. Here, you can also find the contact information of property owners themselves and not just renters.

Photo by RODNAE Productions: https://www.pexels.com/photo/a-broker-standing-besides-a-sign-8292771/

Final Take:

Absentee Owners are always looking for a way to reduce or downsize stress by selling a property where they do not permanently reside. This can prove to be a great way to find clients that are not already targeted by other real estate agents in your area.

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