Flipping Property: Building a Buyer’s List Through the MLS

Having a strong buyer’s list is one of the essentials of the business of flipping property. A buyer’s list is powerful tool that can help you move properties easily. Therefore, if you don’t want to experience difficulties when finding buyers for you investment properties, you’ve got to create a good buyer’s list.

One of the best ways to create a buyer’s list is through the MLS, or the Multiple Listing Service. The MLS is a database used by licensed real estate agents to exchange information about certain properties. Here are the steps to building a buyer’s list through the MLS:

  1. The first thing you need to do is to gain access to the listing service. As you may know, only licensed realtors have full access to the MLS and unless you have a real estate license, you won’t be able to view the information listed in the database. There are two ways you can gain access to the MLS. You can either get a real estate license yourself or work with a licensed realtor.
  2. Once you have access to the MLS, your next step is to find agents who sell real estate owned properties (REOs).  Searching for REO agents can give you leads to real estate investors, who can be your potential buyers. Bear in mind that most REOs are being bought by investors.
  3. After going over the names of REO agents, the next thing you need to do is to look for the names of cash buyers in the MLS. You can do this by searching for properties that were sold for cash. Take note that most real estate investors who make money by flipping property prefer cash buyers because the latter can make the process of reselling homes much faster and easier.
  4. Aside from sifting through the MLS for properties sold for cash, you can find cash buyers by checking out the local tax assessor’s website. Look up the address of the properties sold for cash. There you will find the name and address where the tax bill is being sent. This person could be a potential cash buyer whose name you can include in your buyer’s list.

Creating a strong buyer’s list is something that you should do if you want to become an expert at flipping property. Meanwhile, if you are looking for more nifty hints and tips on buying and selling homes for profit and investing in real estate, go to www.RehabList.com.

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