Off-Market Properties--Good or Bad News?
Many of you have experienced the frustration of competing against other buyers for properties actively listed on the MLS. Homes found on the MLS are a good thing and sometimes a bad thing! Good news first: when a home is actively listed on the MLS we know we are starting with a willing seller! Bad news: when a home is listed on the MLS everyone else knows the property is available and many buyers will be competing for it. Good news: Blue Pacific RE works with a number of builder-clients in helping them source new development opportunities and also representing the sale of the new homes when built. Most of our builder-clients ask us to find ‘Off-Market Properties’. This simply means a property that is not actively listed on the MLS or CBA (commercial brokers association). Good news for off-market properties: our clients are most often not competing with other buyers. Bad news: off-market properties often come with ‘unwilling sellers’. Our challenge (or should we say, "opportunity") is to uncover those sellers who are willing to sell off market. Finding off-market properties has been a big part of our real estate expertise. It actually dates back to 1997 when Kelly purchased his first primary residence on a foreclosure property. Knocking on the homeowner's door actually turned into a win, win situation. This expertise and effort is not reserved just for our builder-clients. We have successfully completed several off-market purchases and sales for clients, and are currently working together with a few clients who have this very goal in mind. If you have a specific house in mind or a targeted neighborhood, please reach out to us. We're happy to help put together a successful real estate transaction for you.