Have you ever wondered how some lucky homebuyers are able to purchase amazing properties that were never publicly listed for sale?
I’m going to let you in on a secret:
They’re using insider connections to uncover hidden gems known as “off-market” or unlisted homes.
As a buyer’s agent, I sometimes receive questions about finding unlisted properties.
Do you want to know how?
In this blog post, I will discuss the top strategies on how to find unlisted homes for sale and how to work with a buyer’s agent to make the process easier.
Why Aren't Some Properties Publicly Listed In The Market?
Before diving into the strategies, let’s first discuss why some homeowners don’t list their homes publicly.
There are several reasons for this, including:
- Privacy: Some homeowners may want to avoid the hassle of doing multiple open homes and preparing the property for that open home inspection all the time. They want to keep it quieter and more private.
- Cost: Listing a property publicly can be expensive, with marketing fees, photos, and listing on the main portals. Some vendors prefer to save on these costs and sell their property privately.
- Convenience: Vendors may want a quick sale and do not wish to go through the process of preparing a property for sale, making last-minute renovations, getting the contract, and all those things.
Top Strategies To Find Unlisted Houses For Sale
Now that we’ve discussed why some homes remain unlisted let’s take a look at the top strategies for finding them.
Constant Networking - Leverage Connections Such As A Real Estate Agent For Off Market Deals
Finding properties that are off-market or unlisted comes down to networking.
How?
Communicate constantly with real estate professionals to find out about properties they have appraised or just signed that might fit your needs.
Or bypass real estate agents and go to the source:
Networking with others in the local community through networking groups, talking to people, and letting them know what you’re looking for can also be helpful.
As more and more people know that you’re a buyer, they may contact you and say, “I’m thinking about selling. Is this property something you would be interested in before we list it?”
Take a Proactive Mindset in Your House Hunt
Being proactive is key to finding unlisted homes.
You need to go out and look for what you want. You can’t just sit back and think, “Oh yeah, it’s gonna come to me.”
If you’re not out there speaking to people, networking, and looking for that property you want, it will not just come to you.
Partner With a Buyer's Agent To Get Market Access:
Although you could try doorknocking in the area to see if anyone is willing to sell, a buyer’s agent is a far more leveraged strategy.
Working with a buyer’s agent with a well-connected network can help you find unlisted homes that precisely match your criteria.
A buyer’s agent can send your brief out to all of the real estate agents in the area so they know what you’re looking for – you essentially are taking advantage of their existing deep network within the property industry.
How To Work With A Buyer's Agent To Penetrate The Market
Uncovering unlisted homes on your own involves much networking, local connections, and boots-on-the-ground efforts. For most buyers, trying this alone is an uphill battle.
If you decide to work with a buyer’s agent, here are some tips on how to make the process easier:
- Provide a clear brief: A buyer’s agent will first run through the brief when onboarding a new client. Ensure you provide a clear brief so they know exactly what you’re looking for.
- Trust their expertise: A buyer’s agent is an expert in their field and knows what it takes to buy a property. Trust their expertise and let them do the hard work for you.
- Communicate regularly: Communication is key when working with a buyer’s agent. Make sure you communicate regularly and provide feedback on the properties they show you.
Hidden Sales - Grabbing Those Unlisted Properties Off The Market
Hidden gems are out there just waiting to be uncovered if you know where to look and who to connect with. By tapping into insider networks and taking a proactive approach, there is a lot of potential for finding your dream home off-market.
However:
Doing this alone can be extremely difficult.
The smart route – partner with an experienced buyer’s agent who will provide their knowledge, connections and negotiating strength to get access to those elusive off-market deals.
Happy house hunting! If you are looking for an independent buyers agent with access to a large network in the property industry for those off-market opportunities, you can contact us here.
