Are you a property buyer looking for off market opportunities? If so, you might find that it’s not easy to find them, but don’t worry, we’ve got you covered.
Here are five tips to help you find off-market properties.
1. Contact Local Real Estate Agents
The first thing to do is to contact local real estate agents. Look for the top agents in the area who are proactive in getting listings and selling properties.
These agents are getting approached by vendors looking for listings, and some vendors won’t want to list their properties on the portals and have people traipsing through their homes.
By building a good relationship with these agents, you can let them know what type of property you’re looking for, and they might be able to help you find off-market opportunities.
2. Look for Expired Listings
Another way to find off-market properties is to look for expired listings. These are properties that have been listed on a traditional portal by an agent or by the owner, but the listing has expired.
After the listing expires, the property could become an open listing or could be taken off the market.
You can find these expired listings on data sites, and they might be just sitting there, waiting for the owner to sell.
There might be several reasons why it didn’t sell, but it’s worth checking out.
3. Approach the Owners Direct
You could try approaching the owners directly. To do this, you need a good data provider such as CoreLogic, RP data, or Price Finder.
With some properties, especially in Queensland and New South Wales, you can often find the property owner’s details.
Once you have their details, you could send them an email or do a letterbox drop. It’s time-consuming, but it’s another opportunity to find off-market properties. Just focus on honing in on the properties that match your criteria.
4. Source Smaller Listing Sites
Apart from realestate.com and domain.com, there are other smaller sites and private listing sites where you can find properties. These are sites where most buyers aren’t going, so it’s another way of finding a property that’s got less competition.
You can find these sites by Googling them, or you can use a platform called Real Estate Investar, which searches all the platforms and does a daily update on all the new listings.
5. Employ a Buyers Agent
Finally, you could employ a buyer’s agent. As a buyer’s agent myself, I understand that we get a lot of phone calls from local real estate agents who know we have clients looking for development sites.
Not every seller wants to go on a general listing and have people traipsing through their homes, and some people would rather do a private or smaller off-listing site type sales.
Finding off-market properties can be challenging, but it’s not impossible. By following these tips, you can increase your chances of finding the right property that matches your criteria.
Remember to be patient, have a process in place, and be diligent about how you source these off-market listings.
If you would like to know more about the off market properties that I have access to click here to book a strategy call and we can discuss further.
Good luck with your property search!
Regards,
Geoff Tomkins
Buyers Advocate
PH: 0404 852 781
