Most buyers rely on the Internet to find properties for sale. However, smart investors understand that you get the best price when there is less competition from other buyers. To have less competition, you need to look for properties that are not publicly listed. But, where do you look?
How to find properties for sale that are not listed on the Internet
Below are seven methods I’ve used, that will help you find non-publicly listed properties for sale.
- Drop an ‘interest to buy‘ letter to home owners on your desired streets. Don’t give up if you receive no responses; distribute your letters frequently. Some owners do not want to sell immediately, but, at least, they’ll have your name in mind.
- If you are interested in a specific property, find out who the owner is by downloading the land registry document. This costs a small fee. Once you identify the owner’s name, use LinkedIn or Facebook to locate this person, and send your expression of interest.
- Post a tweet on Twitter, similar to “Does anyone have an apartment in #EastLondon for sale? I’m interested in buying.” Remember to hash tag the location. I tried this once, and a Twitter user told me that his neighbour was planning to sell his apartment. I placed an offer on this property.
- Befriend the local real estate agents because they know which properties will be sold on the market shortly.
- Ask business owners if they know of any local residents selling their property. The more close-knit the community is, the more gossip business owners will have.
- Ask your local councillor or visit the ‘planning permission’ section on the local council website to uncover any proposed town regeneration plans. Contact the listed developer to get information about the units that will be on sale.
- Join a local parenting social group. In my town, there is a Watsapp mum and dad’s group with a strong social following. These users do discuss local property news, including who wants to sell their property soon.
Word of advice
Use a combination of the listed methods and be persistent. Most sellers won’t respond to your first request. If a seller responds, convince them to sell their property directly to you, without a real estate agent.
You do this by telling the seller that they will save money because there are no agency fees. And, they save time because the sale process is quicker when third parties are not involved.
So, how do you find properties for sale that are not listed on the Internet?
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