Off market properties wont be found on any real estate sites but you’re still able to find them if you know where to look. These off market properties can give investors an advantage on the housing market. Most of the off market properties are sold via word of mouth through a broker or a brokers network. There are other ways to keep an eye out for these listings however. One way is through direct mail marketing, which is when companies send out postcard like letters with an advertisement about upcoming listings that get sent to a particular neighborhood or area. Another method is to talk to builders and contractors, people in that profession are typically pretty clued into housing projects, whether they’re upcoming builds or unfinished projects, contractors are hands on and its their profession to know about new developments. Auctions are also a great place to spend time if you’re looking for off market properties. Auctions have a variety of different type of potential investment properties including foreclosures and REO’s. With any investing its crucial to do your research prior to putting money up and make sure you mind your budget. The best way to find these properties is just good old fashioned networking. Talk to the people that are in the world of unlisted properties. Ask around and you will find something that suits you.
The Multiple Listing Service doesn’t list everything; don’t miss out on off-market properties. #Ironclad
Key Points:
- 1An “off market” property is not advertised on the MLS or other real estate portals.
- 2Off market properties can also be referred to as pocket listings.
- 3Driving around and identifying vacant or distressed homes can indicate an owner ready to sell.
See the original at: https://www.fortunebuilders.com/off-market-real-estate/
