Sneaky Ways To Find A Home Thats About To Be Listed For SaleWritten By: Jaymi Naciri
Coldwell Banker just rolled out some exciting new tech thats meant to help determine when someone is about to list their home for sale. What may sound Big Brother-y to some is being lauded by others as the Big Data answer to next-level real estate success. Call it the high-tech version of going door-to-door asking if owners are looking to sell their home. Also, call it a great lead source for agents and a potential boon for buyers looking for an "in" after repeatedly getting shut out of homes thanks to ongoing inventory issues.
"In a real estate market facing a severe lack of homes for sale, agents could really use a secret weapon - something to shake up the status quo of the listing and selling gamehellip;something to help them compete in a low inventory market," said RISMedia.
Coldwell Bankers solution: CBx Seller Leads, which can identify homes that are most likely to be sold before an agent ever becomes involved. "Coldwell Banker has taken it to the next level, expanding the value of big data for real estate by adding proprietary algorithms and machine learning to the data in the original CBx product to fuel the entire CBx Technology Suite and give brokers and agents access to market intelligence they cant get anywhere else."
Skeptical? Consider this: "Coldwell Banker piloted CBx Seller Leads in 16 different markets; during the pilot, leads converted at twice the industry average."
The potential advantage to the agent is undeniable, but we also love the benefit to buyers. Agents who nurture those leads may be able to find a gem for a client without having to fight other buyers in a crowded market where inventory is at a premium. But CBx Seller Leads isnt the only way to get an early beat on new homes that havent yet been listed. Here are some more tips that could help you find that elusive home.
Stalk your preferred neighborhood
Sure, the workmen outside that cute corner Colonial could mean the homeowners are doing some updates to make the house function better for them. Or, it could mean theyre making updates to get the home in better shape so they can list it. You dont know until you ask. Your real estate agent may recommend leaving this task to them for best results, and, you never know - it could turn out that you end up shaking on an as-is property that gets you into a desired neighborhood, gets you a great deal, and gives you the opportunity to fix it up the way you want to.
Work with a connected REALTORreg;
If a listing doesnt get posted to the MLS or the big listing sites like Trulia and Redfin, how do you find out about pocket listings? The first step is to ask your real estate agent. Tell them that youre interested in pocket listings and that youd like to expand your search beyond the homes on the MLS. Encourage them to reach out to other realtors to see if there is a hidden gem on the market. Its a lot more work than scouring the online listings, but sometimes it can really pay off. In addition to working with an agent, there are also sites getting into the pocket listing game, such asnbsp;PocketList, which specializes in unlisted homes in the San Francisco Bay Area. Zillow also hasnbsp;a "coming soon" search feature, which allows you to check out homes that have not yet been posted on a listing service.
What youre looking for in a real estate agent is someone who is going to work hard for you, obviously. But, especially when youre trying to find a home in a hot market where there arent a lot of available homes, working with someone who has a large base of connections in the industry and a great working >
Look for an unkempt yard
Could be an overwhelmed homeowner, could be the owners are on an extended vacationhellip;or it could be that the home is about to be foreclosed on.
Track "Notices of Default"
Finding a pre-foreclosure property isnt as easy as driving down the street in your preferred neighborhood, looking for signs on the lawn. There is no complete list that aggregates listings of homes subject to a notice of default, and it can be a process to find these potential buys. A savvy agent who hustles to find properties in default can be a real asset to a buyer, especially if they are able to cultivate a >
"The easiest way to buy a pre-foreclosure home is to help the seller to make up the back payments and then arrange to buy the home directly from the seller," said The Balance.
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