Whether you’re an experienced real estate investor or just starting out, you’ve likely come across the term “skip tracing.” This method is crucial for finding property owners who might be willing to sell but are difficult to reach. But how accurate is skip tracing in real estate, and how can it be used effectively in your real estate ventures? Let’s break it down.
What Is Skip Tracing?
Skip tracing is a technique used to locate a person’s whereabouts or gather information about them. In real estate, it’s often used to find property owners who are hard to contact. This might be because they’ve moved, don’t answer their phones, or for other reasons. Knowing how to reach these owners can be the key to making profitable deals, so the accuracy of skip tracing is extremely important.
Why Accuracy Matters in Real Estate
For real estate investors, the accuracy of skip tracing can mean the difference between securing a great deal and wasting time. If the information you get from skip tracing is reliable, you can quickly reach out to property owners and make offers. But if the data is outdated or incorrect, you could end up chasing dead leads and missing out on opportunities.
What Affects Skip Tracing Accuracy?
Several factors influence how accurate skip tracing results are:
- Quality of Data Sources: The most important factor is the quality of the data you’re using. If the data sources are up-to-date and reliable, your skip tracing efforts are more likely to be successful. However, not all platforms offer the most current information, which can lead to inaccuracies.
- Freshness of Information: The more recent the data, the better. Information that hasn’t been updated in a long time may lead you to old addresses or phone numbers that no longer work.
- Experience of the Skip Tracer: The person conducting the skip trace also plays a big role. An experienced skip tracer knows how to navigate the data, spot potential errors, and focus on the most promising leads.
How Different Platforms Affect Accuracy
Skip tracing accuracy can vary depending on the platform you use. Public record databases, online search engines, and social media all offer different levels of information. Some platforms might provide very detailed data, while others offer just the basics. Regardless of the platform, the success of your real estate investments often depends on the quality of the information you gather.
Improving Skip Tracing Accuracy
The industry is continually working to improve skip tracing accuracy. One major advancement is the use of Artificial Intelligence (AI) and machine learning. These technologies can quickly sift through large amounts of data, identify patterns, and provide more accurate results than manual searches.
For example, DealMachine is a platform that’s changing the game in real estate skip tracing. Unlike other platforms that charge per search, DealMachine offers unlimited access to contact information as part of its plan. This means you can perform as many skip traces as you need without worrying about costs piling up.
Additionally, DealMachine provides a private investigator tool that allows you to dig deeper if you hit a dead end. This tool gives you more options to find property owner information, even if the standard methods don’t work.
Tips for Ensuring Accurate Skip Tracing
To get the most accurate results from skip tracing, follow these tips:
- Use High-Quality Data Sources: Make sure you’re using platforms known for their reliable and up-to-date information, like DealMachine.
- Consider Professional Help: If possible, work with an experienced skip tracer. Their expertise can make a big difference in the accuracy of your results.
- Stay Updated on Technology: As AI and other technologies improve, staying informed about new tools and techniques can help you achieve better accuracy in your skip tracing efforts.
Conclusion
Skip tracing is an essential tool in real estate investing, but its accuracy can vary depending on several factors. By using reliable data sources, working with experienced professionals, and staying updated on new technologies, you can improve the accuracy of your skip tracing and increase your chances of securing valuable real estate deals.
As the industry continues to evolve and technology advances, the accuracy of skip tracing will only get better. By using the best tools and practices, you can make skip tracing a key part of your real estate investment strategy.
