MLS vs Perfect Data
Jack Butala: MLS vs Perfect Data. Every Single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala: Jack Butala here for Land Academy. Welcome to our cash flow from land show.
In this episode Jill and I talk about the MLS, the multiple listing service, versus perfect Real Estate data as a way to buy undervalued property.
Jill, I'm glad this topic came up and I'm glad we are talking about it because I get questions, and I'm sure you do to, every single week. Let's explore the pros and cons of using both, but before we do, as always, let's take a question from a caller.
Jill DeWit: Cool. Mike from Bend, Oregon called in and asked "I bought and sold a property here in Oregon that was posted on Land Watch, and have never changed the status from available to sold. I'm getting a lot of calls from interested buyers who want to buy the land, but it's already sold." That's funny. "Is it okay if they keep it up there and collect and build a list of buyers that way?" Oh yeah. The answer is absolutely yes. You are going to get some people blowing up your call, but I got two things to say about this off the phone.
Jack Butala: Let me just parphrase for what Mike is saying. What happens is you buy a bunch of property or your buy some properties and you post ... we teach this. Post them all over these certain little nichey places all over the internet where people are searching for rural vacant land and one of the places we love is LandWatch.com. No affiliation at all. Apparently, Mike posted this property, somebody bought it as should all work like clockwork, but he forgot to take it down as for sale and just kept it up there so people kept calling him. They were interested.
Jill DeWit: Mm-hmm (affirmative)
It sounds like he ... I don't think he meant to do it, it sounds accidental, but now he's talking all these things. The first thing I would say is, Mike, go buy some more of that property.
Jack Butala: Exaclty.
Jill DeWit: Seriously.
Jack Butala: Exaclty.
Jill DeWit: Solve that problem that way. You clearly know there is a desire for it, so go buy some more and come up with some other options. That's fantastic.
Jack Butala: Would you take it down? Would you take the posting down if people are calling?
Jill DeWit: You know, I might just say, I'm working on getting ... I might take the call and say I'm working on getting more, sit tight. I'll get back to you and keep their information. Know you know who you have. Mike is slowly getting a nice ... Here's what I would do. Mike would be right now, sending out a mailer for the exact same size, whatever it was, all the five acre properties in that same county in Oregon. Then he's going to buy a couple. Then he's going to immediately turn around and he's going to market it to ... Without even doing any work, he's going to immediately market it to those twenty people that were so fired up that he has their phone numbers and their emails and they are going to buy it.
Jack Butala: I agree with you.
Jill DeWit: That's what I would do.
Jack Butala: Completely agree with it. That's how it should be handled, but I think what he's asking is, is it ethical to keep a property posted up there for sale that is already sold? That's what I think the nature of the question is.
Jill DeWit: Are you sure that's what he's asking?
Jack Butala: No.
Jill DeWit: Okay.