1. Look for deals on the MLS (with the help of a real estate agent)
The MLS is the box that all the real estate agents put their deals into. It is competitive right now, but if you set it up correctly, you can find great deals on the MLS. Get automatic email alerts set up with your real estate agent that fit your criteria. That way, you’ll get to be the first one to know about those deals. Contact one of the real estate agents at Delphi Realty Group to get started today (925) 705-1300!
2. Tell Everyone You Know
Do your family and friends know that you’re looking to buy real estate? If not, get into the practice of always telling whoever’s around, “Hey, I’m looking to buy real estate deals. Do you know of anybody looking to sell?” Church? Tennis club? Online forum? Wherever it is that you engage with other people, let everyone there know that you are looking to buy real estate. Let them know what your criteria is. People want to help you out, so let them know!
No matter how you look at it, real estate is a people business. The more you utilize word of mouth marketing, the more people will think of you when they see a potential property. Don’t shy away from a potential connection just because they are not directly involved in real estate. You never know who will lead you to your next deal!
3. Try a Real Estate Club
Whether is it virtual or face to face, did you know there are people all around the country meeting every single week to talk real estate? Search the internet for a real estate club and start talking with people. Network, get to know them, and let them know what you’re trying to buy. These real estate clubs can be a great way to find deals. You will find that networking becomes easier with time and practice, so don’t be afraid to put yourself out there.
Beyond real estate clubs, also try searching for any other potential real estate, home or interior/exterior design related events in your area. You can check out your local bulletin boards, forums, craigslist, Facebook groups or Nextdoor to find groups who may be meeting around you. You may also want to ask your existing real estate connections to help build your network. Networking is often the most popular way to identify and take advantage of deals. If you are interested in any form of real estate investing, you should start by building your network (especially if you are considering off market real estate).
4. Consider Off Market Properties
While it may seem like supply is low and demand is high, what you may not realize is that the Multiple Listing Service (MLS) doesn’t account for every property on the market. Off market real estate refers to properties that are for sale, but not in the traditional sense we are used to. “Off market” simply means the listing broker didn’t submit the property to be advertised on the MLS or similar portal. The only way the property sale is made known is typically by word of mouth, through the broker or the broker’s network—not through public advertising. Believe it or not, a lot of properties are sold each month without ever being listed on the MLS.
5. Get in Your Car & Drive
In the real estate world, this tactic is known as “driving for dollars”—a practice that involves visiting targeted areas with the intent of locating distressed or abandoned properties. Before getting in the car, know what specific neighborhood you want to survey. You might want to consider things like house age, zip codes, crime rates, etc. Once you have your target area defined, make a list of subdivisions within that you would like to drive through. Drive around and look for vacant properties. When you find something, write down the address. See if you can get a list of properties while you’re out driving for a few hours. Then, go home, research the address, find out who owns the property, and try to contact them. This is one of the more affordable ways to find a great deal yourself!
6. Look at Different Markets
If you are having trouble finding good deals in your local market, it is worth looking elsewhere. A lot can change in just a few miles. You can often find much better deals if you are willing to travel outside of your local area. The distance will increase, but it may be worth it if the prices are right. This will give you a completely different perspective. Instead of focusing on a specific type of property or deal, a different market will often provide a different way of thinking in addition to new opportunities.
7. Search Online
It goes without saying that there are plenty of reliable websites to find new listings and great deals. Between Craigslist, Zillow, and Trulia, there are many different places to start your online search. Instead of going to the sites and clicking any new property you see, start by location and price. Almost as important as price is reading every line of each posting. There is usually a reason that the home is listed where it is. In some cases, the risk is less than the reward. Be careful and look at as many listings as you can. If you read ten posts from five different sites a day, you will have hundreds of potential properties every week.
Sell Your Home or Buy a Home With the Top Real Estate Agents in Pleasant Hill, Concord & Walnut Creek. Call 925.705.1300 To Speak with a REALTOR® today!
For comments or inquires contact:
Alex Khodadad, Broker, CPA
1930 Contra Costa Blvd.
Pleasant Hill, CA 94523
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