May 24, 2018

Agents Go on Hunt for Unlisted Homes

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Agents Go on Hunt for Unlisted Homes

With a limited inventory of homes for sale in many markets, some real estate professionals are taking an aggressive approach to find their buyers a home. 

Some agents are reportedly cold-calling home owners with offers from buyers interested in their property, even though it isn’t for sale. They’re targeting certain neighborhoods with direct mail. And the Los Angeles Times is reporting that one agent even offered one home owner the use of his exotic car if he’d be willing to sell his home. 

Real estate pro Ryan Mathys says he had a buyer searching for a retirement home in Solana Beach, Calif., and his buyer fell hard for a certain neighborhood. But his buyer lost out on one home for sale in the area because of an all-cash offer. So Mathys sent a letter to every home on a street that had ocean views to see if any of the home owners would be interested in selling. The letter included his buyer’s personal story and qualifications to purchase the home. Mathys even took it a step further -- knocking on doors and reaching out to the home owners on social media. 

Eventually, an owner of a three-bedroom home with ocean views stepped forward, willing to sell for $2.15 million. Mathys’ buyer closes soon on the home. 

"You feel more proactive than sitting there waiting for the next one to come up - and then watching 10 other people swarm all over it," Mathys says about his approach. "It gives you a little bit more of a feeling of control in this market, where buyers don't have that much control.”

Source: “Motivated Home Buyers Skip Bidding Wars in Tight Markets,” The Los Angeles Times (June 27, 2013)

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