Skip Tracing is the best way to reach out to property owners without big efforts. You contact a Skip Tracing firm to get complete information about the property owners. Skip Tracing has made the reaching process easier. People used to reach out to the property owners without any chance of conversion, but now they get the owner’s current addresses, phone numbers, and emails while sitting in your home.
Skip Tracing helps you save a lot of time and effort. Now the question is, can Skip Tracers find the bank accounts of the property owners? We’re about to answer this question, but if you aren’t familiar with Skip Tracing, then don’t worry because we’ll also explain What Skip Tracing is and How it Works. So before answering your question, let me highlight some key points of Skip Tracing.
What is Skip Tracing?
Skip Tracing is the process of finding someone’s contact information. That information could be the address, phone number, and email. In Real Estate, investors use this technique to find the owners of distressed, foreclosure, and wholesale properties. When they find the property owner’s email or phone number, they offer things those owners want to accept. They try to acquire those properties and sell them for profit.
Most investors repair those properties first, then sell them for profit. The wholesalers are also approaching those owners to sign a contract. When a wholesaler succeeds in signing the contract, he then pitches that property to the investors. So multiple ways are used to find those property owners, and earning good cash is everyone’s will.
How Does Skip Tracing Work?
Skip Tracing criteria is completely different. It has 3 different forms of working. I’ll explain all the types, and then we will answer your question.
- Skip Tracing With Leads
- Skip Traced Leads
- Cold Calling on Skip-Traced Leads
These are the 3 patterns on which Skip Tracing works. These 3 terms might seem weird, but you will understand the entire process when I explain it in depth. So let’s start with the first way, “Skip Tracing With Leads.”.
Skip Tracing With Leads
The first way investors use is to find owners through emails (leads). These leads are the owners’ email addresses who own distressed and foreclosure properties. These leads are given to Skip Tracing firms to find the owner’s real name, current address, phone number, and email. Some Skip Tracing firms only offer the real name, email, and phone number. Others also offer the current address. The firms offering current addresses charge more compared to others. So every firm provides its work according to its performance.
When the investor gives those emails to these firms, they compile and find information for those emails through Public Records and other applications like Propstream. Many other applications are in the market with large records of the property owners, and Propstream is one of them. So when they see a fitting name, address, and phone number through those leads, they enter that lead in the investor’s spreadsheet. The firm then resends that list to the investor when the compilation process is finished. Later, those investors have their team pitch to those property owners and send them the offers. That’s how this Skip Tracing With Leads works.
Skip Traced Leads
This time the investor doesn’t want to mess himself up in finding the property owner’s leads. The investor directly approaches the Skip Tracing firms like Lert Skip Tracing to hand over the Skip Traced leads so that he can pitch them quickly. This process is time-saving, but it is a bit expensive. The leads where Skip Tracing is also performed are expensive, but they are worth your money if you got one conversion through those Skip Traced leads.
Many agencies operate through their websites, like Lert Skip Tracing. You purchase the Skip Traced leads and pitch the property owners your offers. Lert Skip Tracing is cheaper than others. That’s why we mentioned it in the top spot. Otherwise, Batch Skip Tracing and Skip Genie are also in the market. So with Skip Traced leads, you get direct emails and addresses of the property owners without wasting your time finding leads through Public Records.
Cold Calling on Skip Traced Leads
This one is the least favorite of every investor, but it requires a strong team having good communication skills. When you get Skip Traced leads from different agencies, you also get phone numbers of the property owners. Investors having a team whose communication skills are good directly call those property owners to tell them about their offers. This one is a bit difficult, but you can close deals like never before when your team has enough communication skills. Your team must convince the property owner to sell that property to you. This one isn’t time-consuming, but the Cold Calling process is more expensive than lead generation. The rest depends on you.
These are the 3 major processes on which Skip Tracing works, but your question remains unanswered. The question was, “Can Skip Tracers Find Bank Accounts?”. Now, give us a chance to answer this question.
Can Skip Tracers Find Bank Accounts?
So the answer is “NO” and “YES.” Here’s how:
When you have the property owner’s real name, current address, email, and phone number, why do you need his bank account when you have everything available? So that’s a big NO to those who think of finding bank account details.
But why did I say “Yes”? Because you can get his bank details after you have closed the deal with him. When your deal closes, he asks you to send payment to his bank account. So that’s when you get his bank details. So I hope I have clarified my point by saying “NO” and “YES.”. However, your question is also answered.
So that was a complete overview of Skip Tracing. We learned What Skip Tracing is, How Skip Tracing Works and Do Skip Tracers Give Bank Details to the property owners. We mentioned everything in brief detail and if you still have any question whose answer isn’t given, drop a comment in our website‘s comments section. We’ll wait for your comment to show up so we can reply.