Finding Unlisted Homes for Sale in Your Area

Scouring the Internet is a great way to start looking at homes for sale. It allows you to contact your relator and say that you want to see a specific property, narrowing down your search tremendously. However, if you solely do your house hunting by looking at what is available to you online, you are missing approximately 15 to 20 percent of all available properties.

Pocket Listings

Some realtors hold on to a few listings and keep them in their “pocket.” They don’t list them on the traditional MLS where other realtors can show the house. By keeping them to themselves, realtors can limit who sees the home and, therefore, be the sole selling agent on the property. As such, unless you work directly with your realtor and ask them for suggestions, you may be missing out on a great find.

If your target home price is over $500,000, you probably should do the work to find a realtor with pocket listings. Some brokers specialize in these houses, while others only deal with them on occasion. Simply ask your realtor if there are any houses they don’t have listed to show you.

Expired Listings

When you list homes for sale, there is a contract involved that does expire after a certain period of time. If the homeowner is frustrated, he or she might not relist the property at the end of the contract. However, that person may still be wanting to sell. If you can talk to an owner of a recently expired listing, you might find that they are willing to give you a good deal on the property.

Before you make any deals on an expired listing, remember it expired for a reason. It could be something as simple as it was priced wrong for the area. However, it may need significant work done to make the house livable. Others have serious structural damage that you need to be aware of before you make an offer.

For Sale By Owner

A lot of homeowners simply don’t want to pay the commission to a real estate broker and decide to sell the house themselves. These are similar to pocket listings, as they aren’t easy to find. However, you can find these gems by driving around or even looking in the local paper. Some list their houses on Craigslist and websites dedicated to FSBO.

Homes for sale by owner typically sell for about $40,000 less than those that have agents showing them. This makes them desirable for someone who wants a great house without spending a lot of money. However, because these residences are not marketed through the MLS system, they are often overlooked and can be on the market for a while.

Finding homes for sale in your area is difficult. It takes a lot of time and energy to find the right place for you and your family to live. However, with a lot of diligence and the help of the right agent, you can find the perfect place.