Still Looking for the Perfect Home? Try Exclusive Off-market Listings

Almost 100% of home shoppers start their searches online using sites like Zillow or Realtor.com—but did you know these search engines don't return all the available homes for sale?

 

It's true. Many more homes are available than you see online, so if you haven't found the perfect place, chances are you're looking in the wrong place.

 

Here's 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 sale—keyword listed. If a seller doesn't want to list their home due to privacy concerns or another reason, or if they haven't listed it yet, it won't show up in the MLS—and therefore won't appear on specific real estate search sites.

 

Many home sales happen before a home hits the market, meaning you're missing out if you're relying on Zillow. So here's what to try instead:

 

It’s not biased! Hiring a real estate agent is the best, simplest, and safest way to access off-market listings. Here’s why:

 

Great real estate agents maintain good relationships with their past and present clients, and we’re often the first to know when homes are coming up for sale. 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 agent’s 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. Additionally, if you’re having trouble finding the perfect home in your price range, a great agent can proactively put the word out in their network to find it—even if it isn’t on the market.

 

In the next section, we’ll discuss some unconventional methods of finding off-market listings—but here’s why you should still navigate them with a real estate agent.

 

Expert real estate agents spend a lot of time and energy developing their 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 we’re prepared to solve unexpected problems when they arise. Additionally, our experience allows us to spot and alert you to red flags, helping you avoid pitfalls as you navigate your home search and purchase.

 

It’s not worth the risk to go alone—especially if you’re not using traditional home search channels.

 

Direct mail is a method in which you send a letter directly to someone whose home you want to purchase. Wish you could buy that adorable house you pass every day after work? Send a letter to the owner to find out if they’re interested in selling.

 

There’s not a lot of risk in doing this, but one thing to remember is what happens if the owner says “yes.” Typically a real estate agent will guide you through submitting a formal offer with the proper paperwork and legal language, getting a home inspection, appraisal, title check, and more. If you’re flying solo, you’ll have to do all of that on your own—and doing it wrong can result in costly mistakes.

 

The upside? Some real estate agents use direct mail as a marketing tactic—so if you’re interested in this, you can ask your real estate agent about it instead of trying to do it yourself.

 

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.

 

There is a misconception that real estate auctions are always a great deal. Sometimes you can land a great deal at auction, but sometimes you land a big mess. This is because auction properties typically have reserve prices—a minimum, undisclosed amount that the seller would be willing to accept—and if bids don’t reach that amount, the property won’t necessarily be sold. Therefore, auction prices probably aren’t as low as you think. Furthermore, although auctions share information about each property, most don’t allow you to see the interior or perform an inspection before purchasing. This means you could end up with a massive project you aren’t prepared to manage—financially or otherwise.

 

Finally, when you have the winning bid on an auction property, you must fill out a stack of legal paperwork—and 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 is a hit-or-miss method of finding a home to purchase and depends mainly on your social network and being in the right place at the right time. It’s never a bad idea to let your circle know that you’re looking to buy and ask them to keep an ear out for anyone considering selling in your price range. However, relying on word of mouth alone to find your dream home isn’t ideal.

 

Instead, tap into your real estate agent’s network. The scope of your search will expand, and you’ll have more interested sellers within reach.