Thursday, April 6, 2017 / by Jason Huerkamp
1. Homes That Have Been on The Market a Long TimeGet your agent to take you out to look at the homes that have been on the market far too long! Even consider looking in a price bracket different to the one you are searching in, you never know what hidden gems there may be.
Lets look at these circumstances -
- Sellers sometimes put their home on the market at an incorrect price. It may not be the agents fault, it may be the Seller who wants to try a higher price first
- Sometimes the Selling Agent is less experienced in the neighborhood and has not priced a home correctly and therefore it has been sitting on the market for a while
- Possibly the house has been reduced in price and because the days on market look scary, buyers have been avoiding the property, wondering what is wrong with it
- It may even have been put on the market, taken off to do some maintenance and then put back on the market and the days on market are still climbing
- Maybe the sale on it fell through and its back on the market
There are several reason a particular home could be overlooked so perhaps consider looking at it even though it has been on the market for a long time. This could be the right time to go and look, ask questions and do some home work. You may even get the chance to make a cheeky offer and get a great deal!
This is a golden opportunity to find homes that are in less popular neighborhoods. Sometimes its worth looking in neighborhoods you have not considered before, like neighborhoods that are on the outskirts, almost in the country. If you are not relying on public transport, you don't mind that its a few minutes drive to the closest shops and you quite enjoy the country feel - then this could be a great time to find a wonderful gem!
2. Less Well Known Neighborhoods
3. Neighboring CitiesDon't rule out a neighboring City. If you are moving and don't need specific schools, churches or communities - then what about considering a neighboring Town or City? You may find that because you are not requiring particular schools, you may be able to buy a home in comparable neighborhoods in a look alike City and not have to be in such a competitive demand bracket.
4. Choose Your Real Estate TeamWhen looking for a home, choose a real estate team that is well connected and has a large network of staff and supported by a well known company. You will find that a team of agents with a big network have the most referrals. They will very often know about homes that are coming onto the market a long time before the event happens. That would give you a chance to get into the house as soon as the listing goes live and give you the advantage to get in an offer before anyone else.
5. Pocket Listings
Well connected real estate agents get to know about "pocket listings." This is inevitably someone who wants to sell and has given a mandate to his agent, but he does not want it marketed on the internet for all to see. By working with a big team and a big brand, Agents will know who to ask about pocket listings.