Still Looking For Your Dream Home? Try Exclusive Off-Market Listings
We all do it. Scrolling on Amazon, instagram, or your secret way too expensive furniture store adding to cart all your dream pieces. Shopping online has taken over the real estate market as well! Almost 100% of home shoppers start their searches online using sites like Zillow or Realtor.comâbut did you know that these search engines donât return all of the available homes for sale?
Itâs true. There are many more homes available than the ones you see online, so if you havenât been able to find your dream home, chances are youâre just looking in the wrong place. You want to be thorough in your search for that "no place like home" feeling!
Hereâs how it works: homes listed for sale, or listings, are stored in a database called an MLS (Multiple Listing Service). An MLS covers a geographical region and shows all the homes listed for saleâkeyword listed. If a seller doesnât want to list their home due to privacy concerns or another reason, or if they havenât listed it yet, it wonât show up in the MLSâand therefore wonât show up on common real estate search sites.
A significant number of home sales happen before a home ever hits the market, which means if youâre relying on Zillow, youâre missing out. Shopping in person has it's own perks - ESPECIALLY with houses. Hereâs what to try instead:
Hire a real estate agent
Itâs not bias! Think of them as your luxury personal shopper! Hiring a real estate agent is the best, simplest, and safest way to get access to off-market listings. Hereâs why:
An expansive network
Great real estate agents maintain good relationships with their past and present clients, and weâre often the first to know when homes are coming up for sale. You never know what secrets they may hold only for new clients! Once your real estate agent has info about an upcoming listing that matches your must-have list, you might have the opportunity to snap it up before it goes on the market.
An expert real estate agentâs network extends beyond clients, too. Relationships with other agents and industry professionals provide us with information about upcoming listings all the time, and that can give you an upper hand. We want you to find your perfect home! Additionally, if youâre having trouble finding the perfect home in your price range, a great agent can proactively put the word out in their network to find itâeven if it isnât on the market.
Relationships with builders
Looking for a newly built home? Connect with a real estate agent. This is your best bet for finding that elusive new construction dream home if youâve looked at whatâs available online and havenât found the right fit. A search engine can't compete with a realtor's wealth of knowledge and personal connections.
Why? Many builders donât list their newly completed homes in the MLS. Instead, they rely on their websites, word-of-mouth, and drive-bys to sell their homes and avoid saturating the market. But good real estate agents have existing relationships with homebuilders, so we know whatâs available and can help you find exactly what youâre looking forâeven if it isnât listed yet.
Real estate industry expertise
We are going to graciously give you some tips of the trade. Weâll discuss some other unconventional methods of finding off-market listingsâbut hereâs why you should still navigate them with a real estate agent by your side.
Expert real estate agents spend a lot of time and energy developing our skills, knowledge, and expertise so we can best serve our clients and our community. That means we understand the complex and detailed processes that comprise every step of a real estate transaction, and weâre prepared to solve unexpected problems when they arise. We are there to make you life easier and anticipate the right moves for the smoothest home buying experience possible. Additionally, our experience allows us to spot and alert you to red flags, helping you avoid pitfalls as you navigate your home search and ultimately your purchase.
Itâs just not worth the risk to go it aloneâespecially if youâre not using the traditional home search channels.
Other ways to find off-market homes
Direct mail
Direct mail is a method in which you send a letter directly to someone whose home youâre interested in purchasing. Wish you could buy that adorable house you pass every day after work? Send a letter to the owner to find out if theyâre interested in selling. You don't want to make it too personal or gushy - like a love letter to this home. A simple inquiry and interest in the property could be the push a seller needs to put their home on the market!
Thereâs not a lot of risk in doing this, but one thing to keep in mind is what happens if the owner says âyes.â Typically a real estate agent will guide you through the process of submitting a formal offer with the right paperwork and legal language, getting a home inspection, appraisal, title check, and more. If youâre flying solo, youâll have to do all of that on your ownâand doing it wrong can result in costly mistakes. Work smarter, NOT harder!
The upside? Some real estate agents use direct mail as a marketing tacticâso if youâre interested in this, you can ask your real estate agent about it instead of trying to do it by yourself. Communicating with your agent is the best way to get what you need!
Real estate auctions
A real estate auction is a live event in which properties are sold at auction. There are two common types: foreclosure auctions and property tax auctions. These may sound exciting, but you need to understand them to be successful.
There is a misconception that real estate auctions are always a great deal. The truth is, sometimes you can land a great deal at auction, but sometimes you land yourself a great big mess. Auction properties typically have reserve pricesâa minimum, undisclosed amount that the seller would be willing to acceptâand if bids donât reach that amount, the property wonât necessarily be sold. For that reason, auction prices probably arenât as low as you think. Furthermore, although auctions share the information they have about each property, most donât allow you to see the interior or perform an inspection before purchasing. This means you could end up with a huge project that you arenât prepared to manageâfinancially or otherwise.
Finally, when you have the winning bid on an auction property, you must fill out a stack of legal paperworkâand doing that without an expert real estate agent or real estate attorney by your side can open you up to costly errors.
Word of mouth
Telephone is a fun game as kid. Round and round the secret goes until it becomes unrecognizable through mishearing and forgetful players. Word of mouth is a hit-or-miss method of finding a home to purchase and depends largely on your social network and being in the right place at the right time. Itâs never a bad idea to let your circle know that youâre looking to buy and ask them to keep an ear out for anyone thinking about selling in your price range. However, relying on word of mouth alone as the method of finding your dream home isnât ideal.
Instead, tap into your real estate agentâs network. The scope of your search will expand, and youâll have more interested sellers within reach.
Letâs find your dream home
If youâre looking to buy a home in the local area, weâre your expert team. Our network and experience make us the right choice for your home purchase, and weâll help you find exactly what youâre looking forâeven if it isnât on the market yet.