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Real Estate Auction

Velocity investors utilize auctions, other investors and mortgage brokers more when searching for investment properties.

Velocity investors utilize auctions, other investors and mortgage brokers more when searching for investment properties.

Although all investors rank real estate agents, online listing sites and Internet search engines as their primary source for finding investment properties, Velocity investors are significantly more likely to find investment properties through real estate auctions, other investors and mortgage brokers.





Using a real estate agent to find investment properties is still the top tactic for Velocity investors, but it’s not the only arrow in their quiver.  Velocity investors are twice as likely to utilize real estate auctions, nearly five times more likely to use other real estate investors, and almost three times more likely to use a mortgage broker to find investment properties.

Implications

Velocity investors purchase significantly more properties than other investors.  On average, Velocity investors purchase 4.6 single-family homes compared to only two for other investors.  The same is true for condominiums, where Velocity customers own 2.8 properties versus 1.6 for other investors.

Therefore, it is not a surprise that Velocity investors also utilize more tools and resources to find those properties than other investors. 

When trying to grow their business through investment property loans, mortgage brokers need to cast a wider net to find clients by sponsoring or attending real estate auctions, speaking at real estate investment clubs and cultivating leads from their current investor clients.