Why Wholesalers Need a Reliable Skip Tracing Tool (Hint: To Find Off-Market Leads FAST)

Disclaimer: PropStream does not offer investing advice or make profit promises. This article is for educational purposes only. We recommend consulting financial professionals and/or doing your due diligence before investing in real estate.

As a wholesaler, you put discounted properties under contract and assign the contracts to end buyers for a fee. However, finding property owners to negotiate a sale can be challenging. Relying on your own research could take hours of tedious work (if you make contact at all).

Instead of spending valuable time tracking down elusive homeowners, consider outsourcing to a reliable skip tracing tool. That way, you can spend more time doing what you do best: closing deals. In this article, we’ll dive deeper into what skip tracing tools are and how to leverage them.

What Is Skip Tracing in Real Estate?

In real estate, skip tracing is the process of finding a homeowner’s contact information—particularly when it’s hard to find.

The term comes from the phrase “skipping town,” which refers to someone who has intentionally disappeared or become difficult to locate. Originally used by creditors and law enforcement, the term is now widely used in real estate.

Common Skip Tracing Strategies

There are many ways to skip trace homeowners, but here are the most common methods:

• Door knocking: Once you have a property in mind, knock on the door. If no one answers, leave a note or ask the neighbors if they know how to contact the owner. 
• Public records search: Look up the property at the county assessor’s office, which may have the ownership and contact details on file.
• Online search: Use Google and social media platforms to look up the owner’s name. If you find a profile, try reaching out via direct message or email.
• Skip tracing software: Use a dedicated tool like PropStream, which pulls data from multiple sources to provide phone numbers, emails, and other owner details.

Each of these methods can work, but skip tracing software is by far the fastest and easiest one. It can help you track down owners in minutes rather than hours.

PropStream’s Skip Tracing Features

With PropStream, you can benefit from our 15+ years of experience collecting the most accurate and comprehensive property data available nationwide. Our skip tracing tool includes:

• Low rates: Our rates are some of the lowest in the industry. Get it free with Lead Automator (or for 12 cents per skip trace if you don’t use Lead Automator). Select subscription tiers (Pro plan and Elite plan) offer free skip tracing and Lead Automator. Learn more on our Pricing page. 
• Quick results: Get owner contact information in minutes.
• Free DNC flagging: We will let you know if a phone number is on a “Do Not Call” list so you can skip it and save on the cost.
• No hit, no charge: If your search doesn’t return contact information, you don’t pay.
• No minimums: You can pay for as few skips as you want, starting at one for 12¢.
• Broadest coverage nationwide: Our skip tracing covers 98% of the U.S. adult population.
• Multiple phone numbers and emails: Our skip traces return up to four results for each contact category.
• Mobile compatibility: Skip trace on the go with our mobile app.

How to Use PropStream’s Skip Tracing Tool

Ready to give PropStream a try? Here’s how to get the most out of its skip tracing function:

Step 1: Set Your Search Criteria

First, narrow your search by location and other relevant filters regarding the property’s condition, homeowner, MLS status, mortgage history, etc. PropStream offers over 165 different filters (and 20 premade lead lists).

Step 2: Study the Results

Review the search results to see which properties have wholesaling potential. Generally, these are homes in poor condition or with struggling homeowners who may be willing to sell at a discount.

Step 3: Save a New Marketing List

Once you have a short list of the most promising prospects, create a new marketing list. Give the list a descriptive name so you can remember it later (e.g., “Atlanta Wholesaling Leads”).

Step 4: Run the List through PropStream’s Skip-Tracing Tool

Next, run your marketing list through PropStream’s built-in skip tracing tool to get contact details in minutes. This way, you only pay for the contact information you’re actually interested in.

Step 5: Start an Email Campaign

Finally, create an email campaign in the PropStream platform to send personalized messages to your wholesaling leads, set up a free landing page, and track your campaign progress.

Common Skip Tracing Mistakes to Avoid

Now that you know why and how to skip trace as a wholesaler, here are some common mistakes to avoid:

• Ignoring DNC lists: Calling numbers on a Do Not Call list could result in fines and legal issues. Don’t risk it.
• Not narrowing lead lists: Before skip tracing, narrow leads to those with the most potential to save time and money.
• Not following up: Don’t give up after one or two calls. Some leads need multiple follow-ups to get a response.
• Using outdated methods: Relying on door-knocking and other outdated skip tracing methods takes up a lot of time that you could be using to close more deals.
• Not investing in a reliable skip tracing tool: While a skip tracing tool will cost some money upfront, it can be well worth the investment in the long run.

Find Your Next Wholesale Deal with PropStream

Your next wholesale deal could be a skip trace away, and PropStream makes it easy and affordable to get in touch!