You must have often heard the term skip tracing real estate or debtor recovery in TV programs. However, do you know that this is a useful process in the real estate industry? If you’re interested to know more about Mahogany real estate listings then read this guide from start to finish.
What is Skip Tracing in Real Estate?
It is the fugitive process of finding any person who cannot be otherwise located in places such as workplaces, residences, or entertainment venues. Often a professional skip tracer is considered an expert in executing the process of skip tracing. Generally, professionals who use this process include:
- Marketing agencies
- Debt collection agencies
- Repossession agents
- Real estate wholesalers
- Real estate agencies
Mostly, professionals use the skip tracing process to confirm a defaulter’s current address, contact details, and background screening.
Skip Tracing – Is it Legal?
Yes. However, if you use illegal methods to retrieve private details or use a violent process to access information, then you may land on the wrong side of the law.
You’ll be happy to know that for an aspiring skip tracer there are no law prohibitions in using contact details or any other information to find a person. But for this, professional skip tracers need to meet several legal requirements to remain engaged in the trade.
Even though it is a legal process for skip tracers to locate the people they are looking for, they must truthfully abide by the laws and give reasons for skip tracing.
Today, skip tracing harassment has remarkably increased due to an increase in the number of online skip tracing services. Therefore, make sure to select a genuine skip tracer for availing of the services and stay out of any trouble.
Skip Tracing in Real Estate
In the real estate industry, the process of skip tracing is often used to find the current information of the owners of distressed property. Real estate skip tracers look for listings, investments, and wholesale deals while trying to locate the property owners.
Being a real estate investor, you must be familiar with the skip tracing process to retrieve the contact information of the absentee owners. It is a more effective method of reaching these potential sellers rather than using direct mail. It helps the investors to find homeowners that others haven’t found and close great deals with them.
You can be the first investor to call a homeowner and help them to sell a distressed property while other investors are just sending direct mails.
Use of Skip Tracing in Real Estate
It is the most effective and quick process of finding absentee homeowners. This process helps to locate property owners who are otherwise not easily accessible.