It can be difficult to find good deals on a home, particularly in a hot real estate market. That being said, here are four ways for finding a great deal on your next home.
1. "Pocket Listings".
Sometimes real estate agents will leverage their connections to find a buyer for a home without ever listing the home.
Homes that are never listed are called “pocket listings.”
The National Association of Realtors estimates that 30% of all inventory in Northern California is currently pocket listings.
If you are interested in finding a good deal by purchasing a home that is a pocket listing, it is key to working with a real estate agent who has a strong network as many pocket listings are sold through word of mouth.
2. "Make Me Move" Listings.
Zillow has a feature that allows sellers to post a price that they would be willing to sell their non-listed home. That being said, most of the Make Me Move prices are above market prices.
3. "Coming Soon!" Listings.
Real estate agents will sometimes give other real estate agents a heads up that they will soon be listing a great home.
Similar to pocket listings, it is key to work with a well connected real estate agent who has a strong network and who is more likely to learn of great homes that will be listed soon.
4. Leverage Your Network.
Some of the best home deals are found through leveraging your network. Don't be shy to e-mail family, friends and colleagues or to post on Facebook, Twitter, LinkedIn or your other social media channels what you are looking for. You'd be surprised at the number of times a home buyer has heard of a friend of a friend who is considering selling their ideal home.
Looking for a well connected real estate agent to help you find you a great home in San Francisco? Contact us at Doug@blgproperties.com.