4 Levels of Motivation for Motivated Seller Leads with Shaun Farr

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Good morning and welcome, Wicked Smart listeners. It's Chris Preme, your host again. We are doing another pre-QLS live interview here, short and sweet and to the point. And the reason is twofold. One, we bring speakers to you at our annual event, and this is our 10th annual. So it's a decade of lessons in the trenches is the theme. And We only have 3 speakers this time, and there's a reason for that. Every year we look pointedly to see obviously what's the richest content we can bring to the event so that you leave with actionable nuggets. Number one. Number 2, we look for cutting edge. Um, you met Damon Remy on earlier interviews. He's going to be talking a bunch about AI. The stuff we've got out now with AI internally with the Wicked Smart community is insane. Next, the next guest here is going to be a speaker, Sean Farr. He's the president of Landvoice. Landvoice is a prominent real estate technology and data firm, and it's one of 2 that we use to generate leads. And those of you that are out there as a rehabber or a wholesaler, it always boggles people's minds when they go, yeah, but how do you guys get all these deals? on terms without money down and getting all these cool creative techniques in? It's because we can offer— there's 2 things. Number one, we can offer the seller more than anyone else can because we're getting our term. We'll teach you that at the QLS Live event because it's what we call the quadrant. And we teach you how to operate the quadrant and make it a win-win for sellers, not a predatory niche like so many others where you're trying to lowball. And number 2, unique lists like distressed sellers who aren't on anyone's radar and are distressed in the form of missing payments on, say, rent, utilities, automobile. This is way before the payment slip on the houses. These are the cool lists that we have our fingers on and more coming your way at QLS Live. So without taking much more time, let's go ahead and bring on Mr. Sean Farr. All right, Sean, with that as a little backdrop, welcome to the show, my friend.

Yeah, so good to be with you, Chris. Really appreciate you having us on.

Yeah, I can't wait for QoS Live. And I think it's really cool for those that don't know you to maybe give them a base level, right, of kind of what's hot right now with what you provide for data. And then we can talk about some new stuff you're working on, if that sounds good. Absolutely.

So real quick download on Landvoice. Landvoice was founded in Salt Lake City in 1991. So Chris, back then they were aggregating leads for investors and real estate agents. So they were literally faxing data to investors and agents back then, right? I mean, pre-internet, it was crazy. So LandWhiz has been around a long time and we really just specialize in data. And a lot of the data we focus on is off-market data, Chris. So you can go to an MLS and you can see all the homes on the market, but as an investor, what we want to really focus on is off-market properties. What's out there that agents don't have listed that we can find really, really good deals on. So try not to bore all of you guys, but let me just kind of walk through that real quick. At Landvoice, we specialize in for sale by owner data. These are people trying to sell their home on their own. And what they don't know is they're typically selling their home on a discount. According to the National Association of Realtors, they typically will sell their home about 14 to 16% less than a home that's listed on the MLS. Now that's on average. So there's a lot of really good deals out there with for sale by owners. And what we do, Chris, is we go out there and aggregate everything off the internet, and then you tell us what area you need those for sale by owners, and we just deliver new ones every day. So as an investor, when you're looking for off-market properties, simple, easy way to find those properties, right? And we're working on a lot of new things, but can I give just a quick download on some of those other off-markets that we're talking about?

Yeah, of course. I want to get their brains thinking. This is perfect on how and why we're able to do that. And what's even more applicable to us is we're not trying to lowball these either. That's why whatever we get from you is just like gold. Go ahead. That's—

Yeah, definitely. Let me take one step back real quick. In my career, for the first 10 years of my career, I was on the investor side. I was teaching people how to buy tax delinquent properties and mortgage foreclosures, and we were finding great deals all over the country. But what I found, Chris, is there's a lot involved when we're stepping in and becoming an investor. First, we gotta find good deals. We got to finance those deals. Sometimes we got to find a partner or negotiate those deals and become a good negotiator. And then we had to get 'em sold and make a profit. And what I found is I was teaching a lot of investors how to invest is they could never find good deals. And so about 10 years into my career, I stepped out of kind of this investor world and I stepped into this data world with Landvoice because I just wanted to help real estate agents and real estate investors find really good deals. And that's what we're doing at Landvoice. We're just helping you find off-market properties that can be good deals. And because Because that to me is about 25% of the investor journey, Chris, is finding the right properties in our market or whatever market we're comfortable investing in. Right.

I love it. So for the Wicked Smart listeners, the biggest question I get, one of the biggest questions is, yeah, but the market might be good in my area. It doesn't matter. You get, you go, you're dealing with off markets. This is really cool.

Awesome. Yeah. Off market's so good. So important. And we can find good deals in the Midwest if you're looking for low price points, but we can find good deals in Los Angeles or Beverly Hills too, just depending on the off-market properties that are out there, right? Yeah.

Love it.

So going back to Landvoice, I joined Landvoice in 2010 and just got really passionate about finding these off-market properties for you as an investor. And so FSBOs are one way, for sale by owners are a great way to find a really good bargain, a good deal. And then we've got all the pre-foreclosure data out there as well. Now, depending on the state that you're in, we're going to talk about this on stage a little bit in October with you, Chris. But most, some people know foreclosure, some don't, depending on the state, judicial, non-judicial state. You're going to find a lis pendens or a notice of default depending on the state. And then we're going to find a notice of foreclosure sale or a notice of sale when the auction gets really close. Again, really kind of a desperate seller at that point that's got to get rid of it before they go to auction. And then we're going to find you all the REO or bank-owned properties as well. A lot of good deals in that section. So pre-foreclosure and REO, more data that we're just going to kind of push right in front of you every day. Now, Chris, one thing that we're doing, there's really only about 3 good pre-foreclosure sources out there. And so most companies like ours just license that data from one of those sources. But what I found is that every source out there, they have, they've got blind spots. There's counties that they just weaken, right? We're talking about 3,300 counties across the country. And so what I've found is that I can't license data from one. I'm now licensing data from 2 and 3, basically all sources. Now, 95% of it's the same, but what I'm committing to you as an investor is we're going to have the best foreclosure file because we're now blending the biggest guys on top of each other to avoid all the blind spots. So you're not going to find a better foreclosure file in the country because we've invested heavily in that data as well. So really excited about that. We've done that through new licensing agreements, but also through acquisition. We've acquired some other really big companies to help us make sure you've got the best product there. So we have the for sale by owners. We want those off markets. We got the pre-foreclosures, Chris. Another thing that some real estate agents work with, and as an investor, we want you partnering with an agent in your area, and this will get you access to expired data. So on the MLS, after 6 months, if a home doesn't sell, most homeowners are pretty frustrated their home hasn't sold. Typically they're a little bit more motivated as well. And so finding expireds, withdrawns, canceled, these are also what we call off-market properties. And an opportunity to come in because it's not listed with an agent anymore and work some type of agreement, bargain, and negotiate directly with the homeowner rather than with the licensed agent because it's fallen out of contract. So we have that data as well. It comes from the MLS. If you partner with an agent, which we can help you do, agents love partnering with investors and we want you partnered with specific high-performing agents in your market as well to get things sold if you need to. That off-market property or data is available as well. One other thing that we want people to be aware of is our neighborhood search tool. If there's a specific area of the country, maybe it's around a lake, maybe it's a trailer park in a specific city, doesn't matter. You zoom right into the Landvoice map, you draw a little circle or square or polygon, and we can help you find all the contact information to those owners so that you can mail to them. email to them, text or call. We also scrub that information against the Do Not Call Registry. You need to make sure that you, you know, stay compliant with all the TCPA regulations out there. And so we're going to do that for you as well, scrub numbers and help you stay compliant with the DNC and all the TCPA regulations. Biggest thing, Chris, is this is off-market data. And we want to help you as an investor, wherever you are around the country, get the best data, with good contact information, scrubbing against the DNC so that you can do more deals every year, because that's the first barrier to becoming an investor. You need to figure out how to finance and fund deals, which Chris and his team are going to do. And then at Landvoice, we're going to help you find as many deals as possible through the soft market data.

Love it. Love it. Can you hit the distressed list? Is that worth talking about before the event?

Yeah. So the distressed is something new that we just launched this year. And what we like about distressed is here's the stats, guys. When it comes to pre-foreclosures, there were a tsunami of pre-foreclosures in '08, '09, '10, '11. We all know the financial crisis that happened back then. In fact, we saw about over a million, about 1.1 million homes per month that were going into pre-foreclosure in '08, '09, '10. Well, then private equity came in and swept all those up and we haven't seen a lot of pre-foreclosures over the last What decade, Chris? Right? Yeah. So right now we're seeing about 95,000 to 97,000 pre-foreclosures across the country. Not a lot. And for a lot of different reasons, but there's still plenty in your area. Right. But what we are trying to kind of focus on is, well, what if we look at the pre-foreclosures as an investor, but what if we're also in front of the homeowners that are missing payments on homes, on their mortgage, on their car, on their credit card? And so their credit's getting impacted. These could be people who are kind of motivated to thinking about doing a deal, listing their home, selling. We want to get you in front of all the other investors that are working pre-foreclosures, and the distressed is one way to do that. So what we give is kind of a 4-level distress signal on specific homes in your area, basically with 4 bars saying, ah, these are a little bit distressed, but probably not motivated yet. Second bar, third bar, fourth bar. Those third and fourth bars of distressed are the ones that we're going to look at as guys that are going to need to do a deal. probably list their home and get out of kind of a financial stressful situation that they're in. So we call it distressed. It's a lot more premium data than just our normal data that I just went through with you, right? So it's probably not for all of you as investors. If you're a brand new investor and you've got some money that you really want to kind of do something fast and quick, it can be good for you. What we do, Chris, is we take 10 zip codes, and we want them listed in priority of where you want to focus your investing. And we'll start looking through and scouring through all the distressed homes by zip code until we find 500 homes in those zip codes. And it might take us 3 zip codes, it might take us 6, 7, 8, 9 zip codes before we find 500. And then we're going to get you that contact information, show you the level of distress. And this is exciting stuff for us because we think as an investor, These are the homeowners that we want to be kind of, when we say targeting, we mean with our marketing, with door hangers, with letters, with emails, those types of things to stay in front of those homeowners and finding the right homeowners that need help, that we can help, and that we can create a win-win. And Chris, I know your organization is really good at talking about the negotiation and how to create a win-win for both the investor and the homeowner. So if we can get you the data, you're learning the negotiation tactics to create that win-win. I think it's a beautiful partnership between you, the investor, between Landvoice and between Chris, what you guys are doing over there with your organization.

It's a great marriage. Yeah. Because it's not predatory at all what we do. And that's why it's really cool. And that's why we get all of the pickings, not just the people that'll give the house away at 60, 70 cents on the dollar.

Definitely not predatory.

Sorry, Sean.

Better at just really strong, good conversations with homeowners, which is what we want at Landvoice is to have great productive win-win Conversations with those homeowners.

Love it.

Love it.

And I don't want these guys to think they got to wait, especially the not in our community now, to see you and to learn more about that. So smartrealestatecoach.com/landvoice-pod, just so we know you came from the podcast and get your hands on that stuff now. And then you're kind of next level thinking and next level questions for Sean and company at QLS Live. Sean, any other nuggets or Or is there anything you want to share before we send these guys to qslive.com to get their ticket to come see you?

Working on some new tools. We'll announce those in October. We just kind of shared with you some of the things that Landvoice is doing, but in October, actually really excited about a couple of other tools, products, services that we'll announce with you there, Chris. But we're just thrilled to be working with you, with the investor community out there in the country. Happy to help any way we can. Check out that website that Chris just mentioned. It's a discounted code that we've worked out with Smart Real Estate Coach. If you go to our homepage, you're going to pay retail kind of normal pricing. Get a discount working with our friends there at Smart Real Estate Coach.

Awesome, Sean. Appreciate it. Appreciate you. Can't wait to see you in— what is it? It's about 2 months from yesterday. Can't believe it. We're chatting today. So appreciate you and look forward to seeing you guys.

All right, Chris. Thanks.

Take care. Okay, Wicked Smart listeners, that wraps up our time together with Sean. Short and sweet. Listen, the action item here is real, real simple. Go to qlslive.com and get your butt over to the Boston Financial District on October 6th and 7th. And I guarantee you, you will consider it time well spent. That's qlslive.com. Now, let me say this. If you're brand new to the Wicked Smart listening community here on the podcast, or you just haven't been to anything that we've done, you can come to the event. I guarantee you, you'll consider it time well spent. Listening to each speaker individually would justify the 2 days. I promise you that. However, you will get so much more out of it if you go through the QLS course first on our Wicked Smart Academy. Why? Because there's vernacular, there's trademark things we have and that we do and that we operate by. We're gonna do some live calls at this event. We're gonna do a whole bunch of deal structures and you'll love it. You'll get a lot out of it. But you'll get so much more by going through the course. So go to smartrealestatecoach.com/qfspodcast. Guys, it's a 30-day, no questions asked, 100% money-back guarantee. I don't care about the few hundred dollars for the course that you're going to spend. What I want to do is get you equipped to come to the event and get the most out of it. All right. So smartrealestatecoach.com/qfspodcast. Until next week.

Bye.

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