There's been a lot of *noise* in the media about buyer's agents recently. While we have specific professional opinions, which we would love to discuss, what really needs highlighting is the current lack of inventory. In today's market you can't just rely on Zillow to send you an update with a home that "matches your criteria." There's proactivity involved...and that proactivity on our end has lead to major successes for our clients! We're sharing our secrets on where to find off market opportunities in this month's blog post.
1. For Sale By Owners
Many agents scoff at for sale by owners, but we THRIVE on them! Just this month, we can share two success stories. First, we kept our eyes open on a client tour. None of what we we're scheduled to see were working out - but we did happen to drive through a desirable neighborhood we knew those buyers would like only to find a "sign" in the front yard. 30 days later they were closed and never had to compete in a hot $300,000 Raleigh pricepoint.
Additionally, after leaving a listing appointment, I always like to drive through the neighborhoods to get a feel for what active competition looks like. Another "sign" popped up and come to find out, the home was listed for approximately $30,000 below what I deemed it's true market value. The next day, we were in with buyers. While it wasn't the right fit for them, I was able to share the opportunity with many others I know who could benefit from the listing!
2. Office Exclusives
I saw a small, boutique brokerage post about their "office exclusive" properties the other day. These are listings that can only be marketed to the agents within the firm where they are affiliated. It made me upset....that agent is doing a disservice to their listing clients. How can marketing the home to 3 other agents who all exclusively work together be a benefit? Part of the reason we are affiliated with Hodge & Kittrell Sotheby's International Realty is the large, international presence and buyer pool. Office exclusive properties are shared with all Sotheby's International Realty agents exposing them to some of the most productive and selective agents in the world. Many of the most unique homes on the market are never seen online - only shown to those within a network of trustworthy, experienced and professional real estate experts.....tens of thousands of them.
3. Office "Coming Soon" Properties
Every Tuesday, our office gets together to share new listings. Oftentimes, agents will invite others with their buyers to preview properties, visit during pictures or come by for a sneak peek prior to market. On average, there are about 8 properties shared each week and you bet you'll hear about them from your agent first. It's fun to play matchmaker!
4. Personal Listings
Parker Residential is honored to be working on the marketing prep of eleven future listings in the next 3 months. What does this mean for you as a buyer? First knowledge of properties if they meet your criteria. Sure, you're likely not going to get a discount (would you sell for a discount in this market?!) but there's benefit to having first right of refusal to off market pricing if sellers are open to it. This is why who you work with matters....production matters....because it exposes you as a buyer to more opportunity!
5. Builder Knowledge
One of our most successful finds to date was a North Hills new construction that was never listed on MLS. We tracked new construction builds back a couple years and personally reached out to the agents and builders to learn about what they had coming to market. One week later, our clients were under contract on a home walking distance to the Main Street District at an unbeatable price. Find an agent that will do the work for you!
6. Agent Relationships
It helps to have friends in high places! We work hard to establish great working relationships with some of the most successful and productive agents in the Triangle. These relationships often lead to conversations like "do you have someone looking for..." or "I've got a great one coming at..." Before you know it, you're making an offer on your dream home knowing that you have two professional, experienced representatives on your side.
7. Listing Appointments
We got on A LOT of listing appointments. Our goal is one a week! Needless to say, we don't get them all. That doesn't stop us from sharing with buyer clients if a property will be coming on the market. We may just have insider info on the listing side from the first appointment! Did they choose a discount broker? Price may be important. Are they wanting to stay until next year? Cool, let's work out a lease back situation. Knowledge is power!
8. Social Media
We had some buyer clients recently who had lost out on two properties. When I saw in a local Facebook group someone post about a rental they were looking to offload in the same neighborhood, we scheduled a showing for the next afternoon. Twenty four hours after that - it was under contract for these buyers! Since then, we've been able to score a home at list price, without competing, and are working to negotiate extra repairs and credits. Staying alert and in the know, even in our personal lives, helps our clients tremendously!
