You can find houses before they hit the market. Learn how to find these early house listings and more.
The housing market is more competitive than ever, so many people are hunting for creative ways for how to find homes before they hit the market. But in today’s technological age, you may wonder how it’s possible to find listings without relying on official online listings.
It’s also important to prepare yourself for the costs associated with buying a house, aside from the more well-known expenses like a down payment. While searching for listings that meet your needs, you should research what to expect to pay in closing costs and other related expenses.
You can get ahead of the game in your house-hunting journey. Read on for 10 ways to find houses before they hit the market.
How to find houses before they go on the market
Talk to a real estate agent
Most real estate professionals recommend starting by going straight to the source.
“If you want to find out about houses before they hit the market, your best bet is to talk to a real estate agent,” said Shaun Martin, a Denver-based land developer, owner and CEO of We Buy Houses in Denver. “They will have access to the Multiple Listing Service (MLS), a database of all homes for sale in an area.”
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Drive around your desired neighborhood
Another way to find houses before they hit the market is to drive around your desired neighborhood. Even if you’ve come across listings online, it’s always more helpful to see a house up close to spot potential issues you may not have caught in photos. If you see a “For Sale” sign in the yard, the house is about to go on the market.
Check out real estate websites
Even if your city’s official real estate agent association website doesn’t have certain homes listed, others may display your dream home before it’s officially posted. Redfin, Zillow and Realtor.com are websites to search for homes not yet on the market,” Martin said
Follow real estate agents on social media
Most real estate agents know the importance of social media to stay ahead of the game. Many have and manage separate accounts for their business endeavors.
“Many real estate agents post about houses about to go on the market on their social media accounts,” Martin said. “So, if you follow a few agents in your desired area, you may be able to get a jump on the competition.”
Attend open houses
The idea of an open house, where you may encounter other families clamoring for the same dream home, may sound overwhelming. However, open houses are another great way to find homes before they hit the market. By attending open houses in your desired neighborhood, you can not only see the inside of the homes, but you can also talk to the agents involved and get more information."
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Network with people in the industry
If you have any connections or leads in the real estate industry, use them. These people will likely know about houses before they go on the market, and they may be able to give you a heads-up.
Similarly, talk to your friends and family. “If you know someone in the market for a new house, ask if they’ve come across any listings that aren’t yet on the market,” said Jennifer Spinelli, a real estate investor and investment advisor and the founder and CEO of Watson Buys, a home buying site in Denver. “Chances are, they’ll be happy to share any leads they have.”
Read real estate news
Not to give you even more homework, but one way to stay up-to-date on the latest real estate news is to read articles from reliable sources.
“This way, you can learn about any new developments or houses that are about to hit the market,” Martin said. “Some good sources for real estate news include Realtor.com, HousingWire and Inman.”
Keep an eye out for “for sale by owner” listings
Your real estate agent can help you keep track of “for sale by owner” listings that may not be as easy to track down as traditional listings. “These are typically houses that are not yet listed on the MLS, but may be put on the market soon,” Spinelli said.
Check out expired listings
If a listing expires, it doesn’t mean the home is no longer available. Instead, it could mean the house didn’t sell within the original timeframe.
This could be a good opportunity to snag a deal on a house before it’s officially back on the market.
Attend city planning commission meetings
This might be one of the last places you’d think to extend your search, but you can find houses being built or renovated. This is a great way to get ahead of the competition and be one of the first people to see properties for sale.
What is a pocket listing?
A pocket listing is a listing that is not publicly advertised but is only shared with a select group of people.
“If you can get your hands on a pocket listing, you may be able to find a great deal on a house before it hits the market,” Martin said. “It can be difficult, but if you have connections in the real estate industry, they may be able to help you out.”
What does off-market mean?
When a house is considered off-market, it is not currently advertised for sale. While that can be promising for those with good sleuthing skills, it’s extra homework and time to budget into your search.
“People choose to sell their homes off-market for many reasons. For example, to avoid paying commissions to real estate agents or keep their home sale private,” Martin said. “Whatever the reason, if you are interested in buying an off-market property, you will likely have to do some extra legwork to find it.”
“Often, sellers only entertain offers from pre-approved buyers, so it’s important to work with a buyer’s agent who has experience with off-market properties,” Spinelli said.
By taking the time to get creative in your home search, you can find listings before they hit the market. You never know; you may find your dream home in an unlikely place.