When looking to invest in the housing market, one of the key elements you need to be aware of is the MLS. The Multiple Listing Service is the most up to date and definitive resource when it comes to property listings and homes for sale. Unfortunately, unless you have a real estate license, access to this database is denied.
Gaining access to this valuable information is not unattainable if you are not an actual agent because there are other methods to make use of. Teaming up with an agent is one way to unveil the secrets of the MLS. Working with an agent will offer a variety of avenues that you may not have had access to prior to their involvement in your search. Make sure to ask for reciprocal log ins to the database. Knowing who visits the site regularly and often will aid in your search. Also asking if the agent can get an "assistant's log in codes" would be helpful in your quest for the next good deal.
If you decide that working with a real estate agent is not your method of recourse, then you should actually consider getting your own real estate license. Getting your license is not very hard to do and it would definitely be beneficial to you considering the current housing market. There is an abundance of deals to be made in the REO and foreclosure markets, and it would be a shame to not cash in on them.
Gaining access to the viable access of the MLS is also as simple as placing an ad. Real Estate agents are always ready to work with someone who is eager to invest. Placing an ad on Craig's List or eBay with the intention of being a real estate investor looking to team up with an agent is yet another tactic to use. Strategically positioning yourself as being an aggressive investor can is truly useful when vying for the attention of an agent.
Once you have attained access to the MLS, finding a deal is pretty much at your fingertips. There are a number of aspects to consider when deciphering a good deal. The criteria may be different for each investor, but for the most part the foundation remains the same. What remains constant is what you, the investor, is looking for. Knowing exactly what you want is crucial. Recognizing if you are interested in high or low end houses, the areas of interest you are looking to invest in, your price range, and the number of square footage you are interested in are some of the characteristics to enlist when defining your search for the optimal deal.
Once you have established the criterion for what constitutes a good deal for you, simply doing a daily scan for the new listings in your concentrated area on the MLS will give you a general idea of the available properties and homes you can further explore. Viewing properties that are listed as price reductions is another way to locate prime locations to consider. This helps in weeding out any properties that may not be of interest in regards to their price ranges, desired areas, or types of sale sought from the seller. When scanning for specific target properties, it is a good idea to check out the houses which have been subject to recent price reductions. Homes that are listed with substantial reductions in price indicate great deals.
Another way to locate a good deal on the MLS is by checking out properties that are listed as "back on the market." These properties have typically fallen out of escrow and are attached to extra motivated sellers. Other tips to locating great deals are by scanning for properties featuring the specific amount of square footage (PSF) you are looking for and using selective key words that will hone in on exactly what type of real estate you are looking to purchase.
Having access to the MLS is the ultimate goal when trying to locate the best deals out there. Whether you decide to get your real estate broker's license or work in collaboration with a broker or realtor, having access to the information now available to you is priceless.
Jeff Adams is a full time investor who has done over 350 deals and is a leading expert in the buying and selling of real estate. For more information and to receive your free Foreclosure Profits CD, visit http://www.FreeForeclosureCourse.com or sign up for his free seven day e-course at http://www.RealEstateWebProfits.com.
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
tweet this!