Using Skip Tracing for Nontraditional Lead Sources
using-skip-tracing-for-nontraditional-lead-sources
Austin Beveridge
Tennessee
, Goliath Teammate
Finding quality leads can be a challenge, especially when traditional methods fall short. If you're exploring nontraditional lead sources, skip tracing can be a game-changer. This technique helps you locate individuals or properties that may not be readily accessible using standard methods.
Quick Answer:
Skip tracing for nontraditional lead sources involves using various tools and techniques to find contact information for potential leads, such as absentee owners or distressed properties. Start by gathering as much information as possible about your target, then use online databases and public records to trace their whereabouts. This approach can uncover valuable leads that traditional methods might miss.
What is Skip Tracing?
Skip tracing is the process of locating a person's whereabouts, often used in real estate, collections, and legal fields. It combines various data sources, including public records, social media, and proprietary databases, to find individuals who may be difficult to reach.
Why Use Skip Tracing for Nontraditional Lead Sources?
Nontraditional lead sources can include absentee owners, expired listings, or properties in foreclosure. These leads often require a more creative approach, and skip tracing allows you to:
Uncover hidden opportunities that traditional methods miss.
Reach out to property owners who may be interested in selling.
Identify motivated sellers in distress situations.
Steps to Use Skip Tracing Effectively
Step 1: Gather Initial Information
Start with the basics: name, last known address, and any additional details like phone numbers or email addresses. The more information you have, the easier it will be to trace the individual.
Step 2: Utilize Online Tools and Databases
There are various online tools available for skip tracing. Look for databases that aggregate public records, social media profiles, and other relevant information. Some popular options include:
Public records databases
Social media platforms
Real estate websites with owner information
Step 3: Verify the Information
Once you've gathered potential leads, verify the information through multiple sources. This step is crucial to ensure that you are contacting the right person.
Costs of Skip Tracing
The cost of skip tracing can vary widely based on the tools you choose and the complexity of the search. Here are some common expenses:
Subscription fees for online databases (ranging from $20 to $200 per month)
Pay-per-use services that charge per search ($1 to $5 per search)
Time spent on research and verification (consider your hourly rate)
Timelines for Skip Tracing
The timeline for successful skip tracing can vary. Here’s a general breakdown:
Initial search: 1-2 hours for gathering information
Verification: 1-3 days, depending on the complexity
Outreach: Immediately after verification
Alternatives to Skip Tracing
If skip tracing isn't feasible, consider these alternatives:
Networking with local real estate agents
Attending real estate meetups or seminars
Utilizing direct mail campaigns targeting specific neighborhoods
Checklist for Effective Skip Tracing
Gather as much information as possible about your target.
Choose reliable skip tracing tools and databases.
Verify information through multiple sources.
Document your findings for future reference.
Follow up promptly with leads you uncover.
Common Mistakes to Avoid
When using skip tracing, avoid these common pitfalls:
Relying on a single source for information can lead to inaccuracies.
Not verifying information can waste time and resources.
Failing to document your process can hinder future efforts.
FAQs
What is the best tool for skip tracing?
The best tool depends on your specific needs, but popular options include public records databases and online skip tracing services. Evaluate your budget and the type of leads you are pursuing to choose the right tool.
Is skip tracing legal?
Yes, skip tracing is legal as long as you comply with privacy laws and regulations. Always ensure that you are using the information for legitimate purposes.
How much does skip tracing cost?
Costs can range from free resources to subscription services that charge monthly fees. Pay-per-use options are also available, typically costing between $1 and $5 per search.
Can I do skip tracing myself?
Yes, you can perform skip tracing yourself using online tools and public records. However, it may require time and effort to gather and verify information effectively.
What types of leads can I find using skip tracing?
Skip tracing can help you find various leads, including absentee owners, distressed properties, and individuals with expired listings. These leads are often overlooked by traditional methods.
