Your Complete Guide To Finding Pre-Market Listings

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Your Complete Guide To Finding Pre-Market Listings

Written by BatchService 

If you regularly patrol real estate listings to look for great deals, you might think you’re ahead of the game when you catch a property that’s only been listed for a few hours. You might not know, though, that plenty of people had probably seen this listing before it ever appeared online — and you might not be as quick as you thought you were. How can you get a sneak preview of upcoming properties and kick your real estate game up a notch? Pre-market listings offer the insight you’re looking for. Find out where to find pre-market listings and how to take advantage of the data they can offer.

What is a Pre-Market Listing?

Pre-market listings come from many different sources, and they’re often called many other names, too. You may have heard them referred to as “pocket listings” or “off-market listings.” These terms all describe real estate listings available to buyers but are not publicly entered into the Multiple Listing Service (MLS). Investors who can gain access to this information have a huge advantage over other buyers, translating to significant profits.

In some cases, a property will eventually be listed on the MLS, but it can be discovered before this happens. Some real estate search sites even offer realtors the option to list a property with a “coming soon” status. This gives realtors the advantage of optimizing their marketing efforts, and it allows buyers to scope out a property before it’s available on the market. This is great for anybody interested in wholesale real estate or building a real estate investment portfolio.

Best Ways to Find Pre-Market Listings

If pre-market listings aren’t listed on the MLS, where are they? The answer is: everywhere! You can find pre-market listings by reviewing public records, attending auctions, and networking in your community — and these are just a few examples of where to start. The possibilities are endless. Once you know where to look, you might even find that they start popping up everywhere. You need to hone your investigative skills and learn how to make a move before other buyers close in on a property.

You can start by paying attention to where pre-market listings are most likely to show up. Most homes that are in pre-foreclosure status, for example, will appear in their county’s public records. Short sale properties also often appear in these records and may never make their way to the MLS. To find this information, you may look online at a county clerk’s office or search federal listings like those found in the Department of Housing and Urban Development (HUD).

Pros & Cons of Pre-Market Listings

It might seem like pre-market listings are a goldmine for investors. Indeed, they offer many benefits, including the potential for substantial profits if you play your cards right. Other benefits include a lack of competition, which reduces the likelihood of a bidding war, and more flexibility on the sale timeline. All of these qualities can be attractive to buyers, especially those interested in flipping properties or leveraging a portfolio. That isn’t to say that pre-market properties come without risks, though.

In addition to all of the benefits, there are several potential downsides that buyers must keep in mind. The first is a general lack of availability. There are fewer pre-market properties available than other types of properties, so buyers shouldn’t count on this as the foundation of their business. Even if you are a skilled real estate professional, too, you will likely find that there are droughts from time to time when few pre-market properties become available. Despite these disadvantages, looking for unlisted opportunities is a skill that every potential investor should cultivate.

Finding A Well-Connected Agent

Finding a well-connected real estate agent can be the key to discovering the best pre-market deals. A well-connected agent is one of the best resources for any real estate deal. Whether you’re a buyer or a seller, you can benefit from the expertise and professional knowledge a licensed agent can bring. This is especially true when navigating a deal involving an unlisted property. In these cases, the seller may not be represented by an agent — for example, if the property is for sale by the owner — so having a real estate agent coordinate the deal can offer a sense of security to both parties.

Finding an agent can be like finding pre-market properties in the first place, though. It requires a lot of initiative and a little bit of investigation. There are plenty of real estate agents to choose from, but not all possess the expertise you seek. To find the right one, you should narrow down your search to those with good reviews and then reach out to ask a few questions. You can then make your choice based on the answers you get.

Key Takeaways

Pre-market listings are a great place to find properties that other buyers likely haven’t scoped out yet. This gives you an obvious advantage, but that doesn’t mean that these properties are easy money. On the contrary, you’ll need to do a lot of research and put in a lot of effort if you want to reap the rewards from off-market real estate. Still, if you’re determined, plenty of resources can provide the information you need to succeed.

You can start by buying a bulk property data package and getting to know the properties in your area. This information is essential for researching any listings that might appear on the MLS. With a wealth of knowledge to delve into, you have everything you need to start pursuing pre-market properties and cultivate your real estate investments.

Learn how to earn big by finding and investing in pre-market real estate listings.

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