How to find off-market deals?


#1

I keep hearing about these off-market deals, but i am not sure if my agent gets to know them. She’s been helpful for almost everything, except this - it’s something i do not know if it exists anyway.

We are looking in Mountain View, and somehow, every house we bid got overbidden. One house listed X, we bid 15% above, winner bid was 30% above. It’s crazy, and i am tired, it’s been way too long for me to have any patience left.

Thoughts?


#2

Look at Fremont


#3

Well, I definitely try to network with as many agents/brokers as I can, so I regularly visit open houses and introduce myself. Let the folks know what you are looking for and obviously be pre-approved for whatever level of home you are looking for so that should something come up you can pull the trigger without any delay. I realize you are set on Mountain View, but may I suggest expanding your areas of interest? Cast a wider net MAY produce better results, but again we are talking hot Bay Area again. I might go on Zillow and see if anyone has listed a “Make Me Move” posting for anything in MV. Sure, probably overpriced but at least you have something to look at and perhaps negotiate on. In my case, I have two properties that I would consider 1031 exchanging so I did list them on Zillow as “Make Me Move” listings to get agents/brokers working for me to find the exchange property. The carrot is you find me the end product, I give you the property to sell and you make out on the end sale too. I actually have been presented with some off-market properties to look at but nothing really exceptional yet since I am also like you and only focusing on a general region. Good luck!!!


#4

Let as many listing agents as you know that you are looking to buy and are willing to work with them on the buy side as well. This will encourage them to bring their listings to you first. Also consider switching out your agent to someone that is more connected / has a wider client network. It sounds like your agent’s network is somewhat limited.


#5

Good point! I would find out who are the LAs in MV or the South Bay that seem to have everything all the time. Def go to their open houses and get on their mailing lists. To be fair, there are concerns with using the LA as your agent (and some might not let you anyway) but if you are willing to do your own due diligence by getting your own inspections (if not done) perhaps it can work out.


#6

We are ok with a tear down, mostly, so inspections are less relavant.
Changing listing agent may not be an option - we have been working with her over a year, and wife loves her, so that somewhat blocks the buyer/seller agent possibility.

This is something i will use for our first investment home, though, so it’s very useful info.


#7

Look at listings that didn’t sell and were taken off market. I know, that’s probably rare in the bay area. Then you can try reaching out to the owners and seeing if they are interested in selling.


#8

I suggest you offer anyone a fee to sweeten the deal. All these pocket listings often are overpriced and or seller is not quite ready.