Disclaimer: BatchDialer does not provide legal advice. This article is for informational purposes only. Before calling motivated sellers, we recommend researching applicable laws and seeking legal advice as needed.
| Quick Answer: Five of the best motivated seller lists are failed listings, divorce, pre-foreclosure, flippers, and senior owners. |
The best sales teams don’t call every homeowner in a neighborhood. They focus on those with specific selling motivations because these prospects are more likely to consider selling.
In this article, we’ll go over five types of motivated sellers and tips for calling each one. That way, you can narrow your lead list upfront and close more deals.
Key Takeaways:
- Motivated seller lists, like failed listings, divorce, pre-foreclosure, flippers, and senior owners, help you focus on homeowners with a real reason to sell.
- Tailor your opening to each lead type, leading with empathy for sensitive situations like divorce and pre-foreclosure.
- With PropStream’s “Push to BatchDialer” feature and BatchDialer’s dialing modes and AI guidance, you can build these lists, contact prospects quickly, and improve your conversations over time.
1. Failed Listings
Failed listings are properties that were listed on the MLS but didn’t sell. This could happen for many reasons, including poor marketing, high pricing, and legal issues. One thing is for certain, however: the homeowner showed clear interest in selling but wasn’t able to.
By reaching out to owners of failed listings, you can learn more about what went wrong and offer a better approach to help actually sell the home, whether that means representing them as an agent or buying the property from them as an investor.
Some potential call openings include:
- “Hi [Name], this is [Your Name] with [Company]. I noticed your home at [Address] was on the market recently, but is no longer listed. Are you still interested in selling?”
- “Hi [Name], I’m [Your Name] with [Company]. I saw that your property at [Address] came off the market, and I’d love to hear about your experience. Do you have a couple of minutes?”
- “Hi [Name], this is [Your Name]. I work with homeowners whose listing didn’t sell the first time around, and I have a few ideas on why that happens and how to fix it. Would you be open to hearing them?”
2. Divorce
Divorce leads are homeowners who have recently filed for divorce. Often, divorcing couples want to sell their home to split the proceeds and move on with their lives.
However, divorce can also be an emotionally sensitive time, so you must approach divorce leads with empathy. Instead of leading with a purchase offer or a pitch for your agent services, listen carefully to their concerns and educate them on their options.
Some potential call openings include:
- “Hi [Name], this is [Your Name] with [Company]. I help homeowners going through major life transitions understand their options regarding their property. Do you have a moment to chat?”
- “Hi [Name], I’m [Your Name] with [Company]. I’m reaching out because I know changes in household situations can raise many questions about what to do with a home. I’m here to answer any questions you have. Is now an okay time?”
- “Hi [Name], this is [Your Name]. I work with homeowners who want a clear picture of their options, whether that’s selling, keeping, or buying out a co-owner. Would it be helpful to talk through what those look like for [Address]?”
3. Pre-Foreclosure
Pre-foreclosures are properties that have missed mortgage payments and received an official default notice from the lender as a result. This could be a Notice of Default, Lis Pendens, Notice of Trustee’s Sale (Auction), or Notice of Sheriff’s Sale (Auction).
Pre-foreclosure status signals selling motivation because it shows that the owner is struggling to afford their mortgage payments. A sale could help them salvage their credit and equity and use the proceeds to buy a more affordable home.
Some potential call openings include:
- “Hi [Name], this is [Your Name] with [Company]. I help homeowners who are behind on their mortgage understand their options before things get more stressful. Do you have a few minutes?”
- “Hi [Name], I’m [Your Name] with [Company]. I’m reaching out about [Address]. Many homeowners don’t realize that selling before a foreclosure can help them protect their credit and equity. Would you be open to a quick conversation about that?”
- “Hi [Name], this is [Your Name]. I know [Address] may be facing some challenges with the mortgage. I just want to make sure you know all your options, including ones that could protect your credit and equity. Is now a good time?”
4. Flippers
Flippers are those who buy properties to renovate and then sell for a profit. PropStream identifies them as owners of properties that are currently for sale on the multiple listing service (MLS) and that were also purchased within the last 24 months.
Flippers can make excellent leads because they tend to buy and sell real estate often, opening the door to repeat business opportunities.
Some potential call openings include:
- “Hi [Name], this is [Your Name] with [Company]. I saw you have [Address] listed. Congratulations on getting it ready for sale! How’s the response been so far?”
- “Hi [Name], I’m [Your Name] with [Company]. I work with a lot of investors in [Area], and I noticed you picked up [Address] recently. Are you planning to flip it?”
- “Hi [Name], this is [Your Name]. I help flippers move properties faster and find their next deal. Would you be open to a quick chat about how I might support your current listing and future projects?”
5. Senior Owners
Senior owners are older homeowners. PropStream defines them as owners who have:
- Owned their property for more than 25 years
- A senior tax exemption on file
- Or an open reverse mortgage
What makes senior owners motivated to sell is the potential need to downsize, move closer to family after retirement, or leverage their accumulated equity.
Some potential call openings include:
- “Hi [Name], this is [Your Name] with [Company]. I work with homeowners in [Area] who’ve been in their homes for many years and may be thinking about their next chapter. Do you have a moment to talk?”
- “Hi [Name], I’m [Your Name] with [Company]. I help longtime homeowners understand how much equity they’ve built and what options that opens up. Would you be interested in a quick, no-obligation conversation?”
- “Hi [Name], this is [Your Name]. Many homeowners in your neighborhood are considering downsizing or moving closer to family. I’d be glad to answer any questions about the local market if that’s something you’ve thought about. Is now a good time?”
How to Send PropStream Leads to BatchDialer
You can find all of the above lead types on PropStream. Simply select a market and then apply the relevant search filter. From there, you can skip trace the prospects’ contact information and quickly send them to a BatchDialer campaign with the “Push to BatchDialer” feature.*
Use BatchDialer’s Dialing Modes and AI Tools to Improve Conversations
BatchDialer’s preview and predictive dialing modes give you options.
For example, if you’re entering sensitive conversations with divorce leads, a preview dialer may be best to ensure you understand the prospect’s background before calling. Meanwhile, a multi-line, predictive dialer may be better if you’re running a high-volume campaign.
Furthermore, BatchDialer’s real-time AI guidance can help you know what to say if you get stuck, and the platform’s campaign reporting can help you evaluate your performance and improve over time.
Ready to get started? Start your 7-day free trial of BatchDialer today!
Frequently Asked Questions (FAQs)
What are real estate lead lists?
Real estate lead lists are groups of property owners filtered by a shared characteristic, such as a recent divorce filing or a failed listing. Focusing on a specific list instead of every homeowner in an area can help you reach people with a real reason to sell.
Is real estate cold calling still worth it?
Yes, when you’re calling the right people. Real estate cold calling works best when you focus on motivated sellers rather than random homeowners, since they’re more likely to consider an offer or a conversation about selling.
What are the best cold calling strategies for motivated sellers?
The most effective cold calling strategies start with knowing the lead type and tailoring your opening to it. Lead with empathy in sensitive situations like divorce, keep your opener short, and ask a question that invites a response rather than jumping straight into a pitch.
How do I find and approach failed listing leads?
Failed listing leads are owners whose homes were on the MLS but didn’t sell. Ask what their experience was like, then explain how you would approach the sale differently, whether as an agent or as an investor.
*PropStream engages an independent third party to perform skip tracing.
