When should I move from on-market to direct-to-seller deals?
Hey all! This comes up quite a bit. I've had a few PMs in regards to direct-to-seller and here's my two cents. Move to direct-to-seller when you can evaluate a deal in under 10 minutes. Not before. You need to analyze 100s of deals before you go direct to seller. Here's why that threshold matters. Direct-to-seller isn't a deal-finding strategy — it's a lead amplification strategy. It takes whatever deal-analysis skill you already have and puts more opportunities in front of it. If you can't recognize a good deal fast enough to act on it, the leads are useless. Motivated sellers don't wait around. I learned this the hard way. I ran four direct-to-seller channels at the same time before I had that fluency built — direct mail, SMS, PPC, cold calling. Spent $20,000 on PPC alone. Got 35 leads. Followed up on zero, because I couldn't evaluate them fast enough to be confident enough to move. The on-market phase isn't a consolation prize while you save up for campaigns. It's where you build the skill that makes any lead channel worth the spend. Analyze one deal a day on the open market until you can pull up a listing and know in 10 minutes whether it's worth running a full underwrite. Once you're there, go direct-to-seller. Your conversion rate will be completely different. Happy to talk through what that daily analysis practice looks like if it's helpful. We just had a fun data analysis call on a on market flip and also a commercial mix use deal. Come by next week to analyze more!