You may be inclined to think that if a property isn’t listed, it’s not for sale. Most of the time that’s true, but there are exceptions. Homes for sale that aren’t listed publicly may be called off-market properties, pocket listings, or quiet listings. There are multiple reasons for this, but regardless of the reason, finding these properties quickly can earn you an advantage when trying to buy.
The easiest way to find these properties is with someone else’s help — usually an agent, but investors and builders likely have connections as well. Someone with connections in the industry might know of an opportunity for you already without any searching. Even if they don’t, they can help you search. Agents can search for properties that are “coming soon” — ones that aren’t officially on the market yet, but will be once the listing is finalized. They can also help you find probate sales, pre-foreclosures, and inherited homes. Some agents even specialize in helping clients navigate the legal intricacies of these types of sales.
Sometimes you want to talk to the homeowner directly — though an agent can still help you with this. Agents with a client who is looking to buy will frequently send out letters to owners of properties that fit the buyer’s specifications. Homeowners might be considering selling but either haven’t decided yet or don’t want to list publicly. These letters help to find homeowners in this type of situation. You might also come across a home that is For Sale By Owner, commonly abbreviated FSBO. This means that the homeowner is planning to sell without the assistance of an agent, or sometimes is an agent themself. These properties probably won’t be listed on an agent’s listing service, but an agent can still help you with the transaction if you’re able to discover one.
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