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Propwire Review – Pros and Cons [Updated for 2024]

Propwire is a powerful property search tool, but is it worth it?
Propwire is a powerful property search tool, but is it worth it?

Out of all the real estate investment software platforms on the market, Propwire is one of the most unique options for one simple reason – it’s free!

This comprehensive property search engine is designed for real estate professionals in a variety of industries to locate property listings and connect with potential customers. Propwire uses MLS data updated in real-time so you can make sure you’re accessing the most accurate data in your real estate business.

But does Propwire’s free search features beat out other paid competitors? In this Propwire review, we’ll explore the Propwire platform, its pros and cons, and its main features so you can decide if it’s right for you.

What is Propwire?

Founded in 2022, Propwire is a new real estate investment software platform and database for property listings and off-market investment opportunities

The platform takes an innovative approach to a “freemium” software solution for real estate investing, where the platform is free to sign up but offers paid features to its users for an additional cost. However, the main property search and data filtering is available for free to all users on Propwire. 

Thousands of real estate professionals use Propwire for lead generation and locating high-quality deals across the United States. So, is Propwire right for you? Let’s take a look at who the platform is designed for and the best uses in this Propwire review.

Who is Propwire Best For?

Propwire isn't for everyone involved in real estate.
Propwire isn’t for everyone in real estate.

If you’re reading this article, you’re probably involved in the real estate industry and looking for a software solution to streamline your process for identifying high-quality deals. However, Propwire isn’t right for everyone. 

Propwire is best suited for:

  • Real Estate Investors: Propwire is primarily used by real estate investors, wholesalers, and flippers to find the most profitable investment opportunities on the market. The platform uses MLS data and currently has over 157 million properties listed on the site. Investors use Propwire for off-market properties, hidden deals, and to compare similar properties for deal analysis.
  • Agents and Brokers: Another group that Propwire appeals to is real estate agents and brokers. These individuals use Propwire to find high-quality buyer leads and to convert promising off-market leads into listings. Propwire’s comparables and skip tracing features are also useful to agents and brokers.
  • Lenders: Mortgage lenders use Propwire for a variety of reasons to grow their lending businesses. With its search features, lenders locate qualified borrowers for new loans in any zip code or county in the United States. Propwire also makes it easy for mortgage companies to find real estate investors in need of financing for renovations and rental properties. 
  • Contractors: Believe it or not, but contractors are one of the most popular users of Propwire. The platform is extremely effective in helping contractors find home service leads with its advanced targeting features. Contractors can target their ideal customers and tailor their marketing efforts to the highest quality leads. 
  • Homebuyers: Although Propwire isn’t quite as popular as Zillow and Realtor.com, aspiring homeowners often find hidden gems using Propwire’s property search. Homebuyers also have the ability to find off-market properties that can be purchased at a discount compared to MLS-listed homes. 

Propwire Pros

Here are the top benefits of using Propwire for your real estate business.

There’s a lot to love about Propwire and its advanced search features. Here are the top benefits you’ll find while using Propwire for real estate.

Free Property Search

As we mentioned, Propwire is one of the only reputable real estate software platforms that offers a free property search in addition to other advanced paid tools. 

While you may be able to find MLS properties on other sites, Propwire’s filters narrow down the most promising opportunities based on your specific search criteria. 

Advanced Search Filters

Speaking of search filters, Propwire has one of the best search features for real estate professionals of all kinds. Users can filter property listings based on specific lead types, including:

  • Expired listings
  • Equity %
  • Free and clear
  • Cash buyers
  • Probates

The best part about Propwire’s property search is that you don’t even need to create an account to get started. Simply visit Propwire’s website and start searching through millions of listings right away. 

Analytics and Comparables

Propwire comes locked and loaded with advanced analytics and property data so you can make informed investment decisions. Using the comparable analysis tool, Propwire lets you visualize the differences between investment opportunities so you can calculate your potential ROI on the deal

Propwire Cons

Since it’s a free software platform, Propwire should 100% be in your toolkit for property search and deal analysis. However, there are some important downsides to consider before relying on Propwire:

  • Outdated Property Info: Some Propwire reviews show users frustrated with outdated property data on the platform. Users should always check with other real estate listing sites to verify the information is up-to-date.
  • Fees for Skip Tracing: Propwire offers skip tracing services to users at a cost. Unlike its free property search, users must pay for full access to additional features.
  • Learning Curve: New real estate professionals may have trouble using Propwire’s features. However, Propwire has training for new users available on their website and through YouTube. 

Propwire Features

Propwire may help you find hidden deals not visible on Zillow or Realtor.com
Propwire may help you find hidden deals not visible on Zillow or Realtor.com

In this Propwire review, we’ve gone over the pros, cons, and key information about the platform. Let’s dive into its main features so you can get an idea of why you should consider using Propwire for your real estate business. 

Updated MLS Data

Propwire is extremely useful in locating so-called “hidden deals” on the MLS. Their nationwide database of up-to-date MLS property listings along with its Keyword Tool makes it easy to find hidden gems that other investors miss out on.

Use the Keyword Tool to search for terms like “as is” or “fixer upper”, and Propwire will show you sellers who are most likely to be motivated to sell. Users can also filter properties by average price per square foot to locate discounted properties in any area.

Unlimited Searches and Downloads

Other real estate investing platforms charge monthly subscriptions or individual search fees when searching for properties on their platforms. Propwire, on the other hand, comes with unlimited searches for real estate professionals on the platform.

Additionally, Propwire gives users unlimited downloads with no credit card required. Simply sign up for Propwire and get access to unlimited free leads for postcards, cold calling, SMS, ringless voicemail, and digital advertising.

Advanced Off-Market Search

Propwire comes with advanced off-market search filters that allow REI professionals to sort through thousands of property listings to find the most promising opportunities. Their system gives users the ability to choose from 17 lead types that include:

  • Vacant houses
  • REOs
  • Absentee owners
  • High equity
  • Preforeclosures

Additionally, users can conduct a custom search or create stacked lists to locate the most motivated sellers in your particular area.

Lead Alerts

One of the best ways to stay ahead of the competition in real estate is to jump on deals as soon as possible. Luckily, Propwire comes with lead alerts that notify users when new leads and listings hit your market. 

Simply navigate to your Propwire settings and sign up for email alerts and SMS notifications after creating saved search criteria. Propwire updates their lead database daily, which means you’ll receive alerts for new leads before your competitors.

Skip Tracing

With their proprietary Deep Trace technology, Propwire promises to find users high-quality contact information for property owners across the United States. 

One-click skip tracing allows Propwire to locate phone numbers, email addresses, and demographic information for potential leads. 

Final Thoughts

Propwire is an innovative software platform for advanced property search and off-market listings. Their freemium model allows users to take advantage of free property searches with unlimited downloads in one easy-to-use dashboard.

However, Propwire’s paid skip tracing technology and other advanced features means you’ll likely need additional software to run your business effectively. While Propwire might be a useful tool, it’s certainly not an all-in-one solution for real estate professionals. 

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