Staying ahead of the competition and finding off-market properties before they are listed can make all the difference.
While networking and building relationships remain key, there are three often overlooked groups that can provide unique insights into off-market deals and soon-to-be-listed properties.
For investors and real estate agents keen on finding these opportunities, here’s who you should be connecting with:
1. Contractors: The Inside Scoop on Abandoned Projects
Local contractors are more than just builders and renovators. They are potential goldmines of information about properties that have hit a snag. It’s not uncommon for a homeowner or investor to begin a construction project only to run out of funds mid-way, leaving the property in limbo.
These situations are unfortunate for the seller but present a prime opportunity for an investor ready to take over and complete the project, or for a real estate agent who can facilitate a sale. Building relationships with contractors can provide early alerts to these scenarios, allowing you to step in, finish the job, and potentially secure a substantial return on investment at closing.
2. Mortgage Brokers: Early Birds in the Property Market
Mortgage brokers are often the first to know about homes that are about to hit the market. This early insight comes from sellers seeking pre-approval for their next purchase before listing their current home.
Additionally, brokers are privy to clients who attempted a cash-out refinance but were unsuccessful, possibly indicating a need to sell. By networking with mortgage brokers, you can gain a head start on properties that are yet to be listed, allowing you to prepare offers and strategies in advance.
3. Real Estate Photographers: The First Look Advantage
Real estate photographers are frequently the first professionals to step into a home before it’s listed, aside from the listing agent. Photo shoots are typically scheduled only when sellers are serious about putting their property on the market.
This means photographers have a unique vantage point, often knowing about listings 24-48 hours before they go public. For an investor or agent, forming connections with photographers can be invaluable. Gaining knowledge of a listing before it hits the market can provide your buyers with a significant advantage, allowing them to express interest or make an offer ahead of the competition.
Stay informed and ahead of the curve by leveraging these unique relationships. For an even greater advantage, consider HomeJab’s new service designed to keep investors and agents notified of upcoming listings in their area.
Discover how you can find off-market properties about to hit the market by clicking here.
