When you are unable to find your next home ON the market try this...

Ever wonder why every time you go to look for a home so many others are as well?  That, while you are driving to a showing, your agent gets a call telling them that the home was just sold.  Or, you find a home online the day it went live, send it to your agent to set up a showing, only to find out it already has multiple offers?  Well, you are not alone.  We are in an inventory crunch … still!  One that would be epic if interest rates were to come down.  In the local market, we are below 5000 homes for sale for a 16 county market!  You read that right.  SIXTEEN COUNTY MARKET and less than 5000 homes for sale.  To emphasize the impact of this point, we are heading into the spring market.  You know, when more buyers flood the market!  Are there other ways to find a home in this market?  Glad you asked…

OFF MARKET PROPERTIES!

So, when you are searching for homes online there is a good chance you are searching on our website (hint hint – GREAT CHOICE), REALTOR.com, Zillow, or your agent’s site (at which point, I would advise to redirect you to WelcomeToCarolina.com.  Did you know that these online sites do not show all of the inventory?  What?  Yep, you see the MLS (Multiple Listing Service) is a database where all "listed" homes are for sale.  Did you notice I emphasized LISTED?  So if they are not listed for sale then they will not appear on Zillow, REALTOR.com or any site.  How might we find these homes?

Hire a Broker That Networks

Do not hire your sister, cousin, nephew or son-in-law unless they are experienced and well connected in the communities you are considering.  Why?  Well, they likely have access to the MLS but do they have access to the hidden inventory?  Not a secret inventory...rather those builders, contractors, homeowners that WOULD consider selling but do not want to go through the process of getting the home ready for market.  But, if presented a reasonable offer would sell.  Brokers that are part time, or only work the MLS are costing you opportunities.  It is important to work with a Broker that is actively building his or her network.

Who Should The Broker Be Networking With?

The better question to ask here is, who SHOULDN'T the broker be networking with?  Fact is an active broker belongs to networking groups, either formal or informal.  They build relationships with business owners, other industry professionals, other brokers, land owners, neighbors.  Mover and shakers...if you will.  A great way to do this is to join the local Chamber of Commerce.  Or several of them!  Wake Forest, Raleigh, Franklin County, Fuquay Varina for example.   Who is missing from this list?  Builders!!!!  Builders often do not list all of their inventory for sale for a variety of reasons.  However, a broker that builds those relationships with builders and developers has an upper hand.  I cannot tell you how many times our team has sold off market homes because of our extensive relationship with builders.  We have an inside look into what may be coming or what they can build for the right buyer.  

Direct Mail.  Door Knocking.  Social Media.

Have you heard of the Proximity Principle?  You know, put yourself around what you want.  It increases the chances of getting what you want.  Sometimes your team (you and the broker and their firm) needs to be even more intentional about finding off market properties.  How much more?  As much as it takes. 

If you have identified a specific area you want to buy a home, sometimes the power of social media will be the way to find that gem!  Whether it be your broker scouring the community information pages for potential sellers or your broker posting via their social media reach that they have a buyer looking for __________ .  Which, by the way, is why it is important to work with a broker that has a social media presence and reach!!  Why limit the homes you may find by choosing a broker that does not use all of the tools available!?  

Found your neighborhood?  You KNOW this is the one?  You have to be in this neighborhood?  Well, a little more hand to hand or belly to belly work may be needed.  It could mean having your broker mailing each homeowner in the neighborhood that they have a buyer looking for a home like theirs and asking if they would consider selling.  And, if you know which house or houses you specifically would buy....your broker should consider door knocking those homes. 

In today's environment of low inventory, considering off market properties may just be the key to finding that dream home.  If you are looking for a team that does this and more for the buyer, contact our team today.  We are always willing to do what it takes to EARN your business.