Real estate investment used to be and is still mostly for experts, however, modern tools like Propwire have made things more accessible and simpler than ever. With its comprehensive property search engine and real-time MLS data, Propwire ensures access to the most accurate information to fuel your real estate endeavors. In this article, we will unpack what Propwire is, its key features, how to sign up, and how to make the most of the services it has to offer.
What is Propwire?
Launched in 2022 by Jerry Norton and Tyler Clark, Propwire is a real estate investment platform with property data and analytics for brokers, homeowners, and real estate investors. Propwire claims it is “the largest free property database in the US” with over 157 million properties including MLS listings and off-market properties.
Although a huge part of its strength is its massive data repository for both Multiple Listing Service (MLS), and off-market properties, the magic of the software is also shown in the plethora of tools it offers for making highly filtered searches, market analysis, and options for lead generation. And all these for free.
Key Features of Propwire
Access to MLS Data
Propwire offers access to MLS properties, providing users with a gateway to a vast database of homes or properties available for sale in a specific region. Multiple Listing Service (MLS for short), is an online software utilized by brokers and agents to centralize and disseminate essential information about properties on the market.
Pretty much, MLS serves as a comprehensive repository containing details such as property specifications, listing prices, and relevant data crucial for appraisals and negotiations.
Unlimited Searches and Downloads
Propwire offers users the invaluable advantage of unlimited searches, granting users the freedom to delve into the database as frequently as needed, while tailoring their searches to specific criteria and preferences. Paired with that is also their unlimited downloads feature that takes lead generation to the next level.
Once users complete a search, they have the freedom to download and save property listings without any restrictions. This streamlines marketing efforts and follow-up activities, as users can easily integrate these lists into real estate marketing software equipped with CRM functionalities.
Advanced Filtering
Propwire goes beyond basic property search by offering advanced filtering options, empowering users to tailor their searches to exactly what they want. With a wide array of filters available, users can fine-tune their search criteria to uncover properties that align perfectly with their investment goals.
From filtering by price and property type to narrowing down options based on specific features like bedrooms, bathrooms, and lot size, Propwire provides unparalleled flexibility in search customization. Users can also filter properties by owner, financial information, and MLS details, allowing for comprehensive searches that leave no stone unturned.
Off-market search
Propwire doesn’t just stop at providing access to MLS properties; it goes above and beyond by offering users access to off-market data, a game-changer for investors seeking lucrative opportunities outside the traditional market channels and conditions.
Off-market properties, often overlooked by the general public, present a wealth of potential for investors, particularly those involved in wholesale real estate and house flipping. These properties, which include distressed properties, pre-foreclosures, and those marketed through private channels, can be acquired at a discount and sold for a profit.
Whether searching by city, county, or zip code, users can pinpoint off-market properties within their desired area with ease. The platform’s customized map search tool further enhances the search experience, allowing users to highlight specific areas of interest directly on the map.
Lead stacking and List building
Lead stacking and list building are two powerful features offered by Propwire, designed to streamline the lead generation process for investors and agents.
Lead stacking involves combining searches by different property types, allowing users to refine their results to only include properties that meet specific criteria. With 22 valuable lead types available in Propwire, users have ample options to customize their search parameters. By stacking multiple lead categories, users can display properties that match both or at least one criterion, maximizing their chances of finding promising investment opportunities.
Once users have generated their desired leads, Propwire offers a convenient list building feature to organize and manage their findings. Investors and agents can utilize the platform’s numerous filters to narrow down their search and generate results tailored to their business needs. Whether searching by property type, ownership status, or financial details, Propwire’s advanced filtering options provide unparalleled flexibility in lead generation.
Once the leads list is generated, users have the option to download it to their computer for further analysis and follow-up. Additionally, Propwire allows users to save their search criteria for future use, streamlining the lead generation process and ensuring continuity in their business efforts.
Propwire doesn’t just stop at providing access to valuable leads; it goes the extra mile with its lead alerts feature, ensuring investors stay ahead of the curve in the dynamic real estate market. Users can set up SMS and email alerts for new leads that match their search criteria, allowing for timely notifications of promising opportunities.
Comprehensive Property Details
Propwire ensures that users have access to comprehensive property data to aid them in their real estate endeavors, whether they’re flipping, wholesaling, or listing homes. Each listing on the platform comes with a detailed property details section, providing a wealth of information to facilitate informed decision-making.
Users can easily find essential details such as the living area size, lot size, number of bedrooms and bathrooms, and property type, enabling them to evaluate the property’s potential and suitability for their investment goals. Additionally, Propwire includes tax information, owner details, and listing agent information where applicable, enhancing transparency and facilitating communication with relevant parties.
And what’s a property data without an image of the property. Propwire also provides this, allowing users to visually assess the property’s condition and aesthetics, while comps data and estimated equity provide valuable insights into the property’s market value and potential profitability.
Skip Tracing
Propwire offers a powerful skip tracing service, leveraging its proprietary Deep Trace technology to provide users with high-quality information for contacting property owners or agents nationwide. With just one click, users can access phone numbers, email addresses, and even demographic information for potential leads.
Unlike other features on Propwire, the skip tracing service is the only one that requires payment, priced at 10 cents per successful hit. And of course, you can download the information once you are done.
Propwire Tutorials and Training
Having discussed some of the powerful features you get with Propwire, it is only right we put you through how to use these features so you don’t spend too much time on the learning curve, or get stranded. We’ve also included illustrated images from the website to help you understand better.
User Registration and Account Setup
- To get started, go to the Propwire homepage, and click on sign up.
- Enter your name and email address and click on “Create a Free Account.”
- Type in the password you intend to use. Confirm it and click on “Continue.”
- And you are all set and ready to start your journey with Propwire.
How To Find On-Market and Off-Market Properties
To find On-market properties:
- First select the location you wish to canvas.
- Then click on lead types and select all the MLS properties.
And there you have it! You’ve successfully found on-market properties in the area
To find off-market properties? You select the location and simply select lead types that are not MLS.
How To Use Propwire’s Advanced Filter Options
- First select your desired location and your lead type.
- To use the advanced filters, select the more button at the top-right corner
- And now, you have a lot of filters to better finetune your search
How to Stack Lists
List stacking is when one stacks a number of lead types offered by Propwire to narrow down a search. To go about it:
- Select the location you want. For this example, we’ve chosen a custom boundary in Manhattan, Kansas.
- And then select lead types. In this case, we’ve gone for properties with “absentee owners,” and “cash buyers.” Giving us a result of 1011 properties.
- Now, to stack the list, you select “match all selected.” This feature means you get properties with both lead types in your search, not either, which in this case, streamlines our results to 35 properties.
And of course, you can always select the properties that pique your interest and download them.
How To Run Skip Traces on Propwire
- The first step in skip tracing is running a search and finding the lead you want to skiptrace.
- Click on the property you are interested in
- Click on the owner tab and select skiptrace
- Like we mentioned previously, skip trace requests are not free – it costs 10 cents per SUCCESSFUL hit.
- And to pay for your skip trace request, you simply fund your Propwire wallet, starting at a minimum of $20. You can do that by clicking on the wallet icon at the top-right corner or just click on “Add Funds?” as we have it on this page.
You can also skiptrace multiple properties at once. To do that:
- Select the multiple properties, click on the small box at the top-left corner of the property. Once you are done selecting your desired properties, click on the box that shows the number of properties you have selected.
- It will take you to a page where you can then select if you want to just skiptrace, download, or skiptrace and download your leads.
The same principle regarding cost also applies here. Propwire will deduct only the cost of the successful hits from your wallet.
How To Save and Compare Properties on Propwire
Propwire offers a comping tool that lets you compare a property to other properties in the area. Here’s how to use it:
- First step is to select your target property and click on the comp tab.
- Or manually draw the perimeter you want to cover using the draw tool on the map
- You can edit your preferences in proximity to the property on the right using the various filters
- You can get a comp-based value of your selected properties by ticking the boxes next to them and also download either as PDF or CSV depending on how many you’ve selected.
- And of course, you can sort by Equity and Estimated value, and you can also use the advanced filters by clicking on “More.”
How To Set Lead Notifications and Updates
- First step here is to select your desired location and your lead types.
- Now click on “Save Search” at the top-right corner
- It then gives you this page where you can choose to be notified by email or by SMS. Remember to tick the “Notify me when new leads are found for this saved search” box.
Wrap Up
Propwire emerges as a compelling option for real estate professionals seeking distressed properties or investment opportunities, especially for newcomers or those operating on a budget. Its comprehensive database, detailed analytics, and diverse filters enhance the efficiency of property searches, and is invaluable, which is ironic, considering virtually all its features are free. Additionally, Propwire offers a Gold subscription, offering exclusive coaching, resources, and up to 2,500 skip traces at just $97 a month, presenting an enticing proposition for those looking to elevate their investment strategies and maximize returns.
FAQs
Is Propwire Really Free?
Yes, Propwire is really free. They only charge for skip tracing. They also offer a Gold membership at $97 dollars per month. But this is not for the regular Propwire services. Rather it’s for users that want to take their real estate prowess to the next level.
How Do I Find Cash Buyers on Propwire?
Finding Cash Buyers on Propwire is straightforward. Just enter your desired location in the search bar and select “Cash Buyer” from the “Lead Type” dropdown.
How Much Does It Cost To Skip Trace on Propwire?
Skip tracing costs 10 cents on Propwire, and this is only charged if the skip trace is successful.
