Tired of writing offers on properties you can't seem to win? It's a frustrating market we are in currently, and the stats show no slowing down in sight. How can you win? Well using these 4 strategies for finding off-market housing may be your solutions. Stop losing in multiple offers today!
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The Germyn Group consists of Darin Germyn, Personal Real Estate Corporation, and Adam Howsam. Two realtors located in the Fraser Valley looking to help our clients get it right, the first time, when buying or selling real estate. Darin has been in the real estate industry since 2007, and has had the luxury of helping over 500+ families in real estate. Darin was the former President of the Fraser Valley Real Estate Board in 2019, and top 1% in the FVREB for volume.
Darin has also been featured on News 1130, CKNW, CTV News, Global News, Business Vancouver, Real Estate Video Influencers, Three Best Rated, The Georgia Straight, Country 105 & Real Estate Magazine
So you've been looking for a property
and have been getting absolutely
destroyed in the re-sale market.
You're working against other would-be home
buyers willing to take on more risk
in writing offers or the ones that have
deeper pockets than you, that you
just can't compete with.
Your problem is, you are only focusing
on on-market properties and you need
to start opening your eyes
to the wonderful, wild world of
off-market properties for sale.
Welcome to the Germyn
Group's Real Estate Page.
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Okay, so we know the real estate market
can be ultra competitive and during
the time this video was filmed,
the real estate market
all across the world, THE WORLD,
has been absolutely bananas.
In fact, in our area of Surrey, BC
or the Fraser Valley,
we have seen real estate prices increased
so much that last month, we had the same
amount of inventory leftover of homes
that were available for sale, comparable to the 1980's.
Think about the amount
of new homes built since then and the
amount of people that live here now.
So as a home buyer, how do you compete?
How do you make sure that you're finding
the best house that is available
out there for you, or your family,
all while making sure you get a great deal
on it because let's face it,
nobody wants to overpay for a home and you
work too hard for your money
just to simply give it away.
You deserve a great property.
And what can you do to find one?
Enter into the world of off-market
real estate listings.
An off market real estate listing is one
that is home for sale, but the general
public doesn't really know about.
There are four strategies that I'm going
to share with you today on how to target
that off market listings
as a homebuyer to give you the maximum
choice and chance and also help you avoid
the crowd when buying your next home.
Now, there's lots of articles about how
to do this sort of stuff,
and a lot of them are
full of a bunch of fluff, things like
join Investors Group to network with other
investors or things like connect
with local home builders
and become part of their circle.
While these are all generally okay ideas.
They're very time consuming and probably
not realistic for most people.
Here are the top four areas that you want
to focus on as a homebuyer
to find off market listings.
So let's get started.
Most people have no idea that the majority
of homes, even in a crazy busy market,
that go up for sale, don't always sell.
In fact, last year in our Real Estate
Association, we saw approximately only
2/3 of the property that ever went
to the market actually sell, and it was
an incredibly busy market last year.
That means there are people who put their
homes up for sale that just
couldn't get it done.
And the reason
might be due to expectations being
higher than what the market might bear,
poor marketing strategies,
challenges with accessing a home because
a tenant or otherwise or
any other various reasons.
Many times we see listings expire simply
because the seller was not able to achieve
the price they wanted for their home.
Now, generally, the market has gone up
everywhere in terms of value,
and some of these would-be home sellers
might be surprised to find that their home
is actually worth MORE
today than it was previously when
they first tried to list it.
These are incredible people to approach
to do an off-market deal with,
and we are here to help our
clients do that all the time.
People are so curious in a neighborhood
when they see a sold sticker
go up on a real estate sign.
And everyone in our community,
especially for where I'm from in Surrey,
everyone is so real estate obsessed.
Because of my job,
I am the most popular guy at any social
event because everyone wants
to talk to me about Real Estate.
Everyone wants to know what's going
to happen next, and everyone wants to know
whether they're making money
owning their current home.
When you doorknock around a listing
that has just sold,
you are triggering a thought process
with any of the neighbors who might
also be considering selling their home.
This, in fact, is a strategy that many
Realtors use to generate new
listings for themselves.
So when you see that sold sticker go up
in a neighborhood that you've been keeping
your eye on, jump out of the car, go bang
on the door and talk to the neighbors.
Let them know you had your eye on one
of the homes that sold in the area,
and we're just curious if they were
interested in selling their
home through a private sale.
This just might land you the house of your
dreams without having
all of the competition.
And it sometimes
can be great for the seller, too, because
if there is no real estate agent involved,
you could potentially save money without
having to pay any of the commissions.
Now, it is prudent for me to say that I
really believe in the role of what
a realtor serves in a transaction.
When buying or selling a home,
you definitely want to have some legal
advice to accompany any transaction
that you might enter into,
whether you're the buyer or the seller.
Okay, strategy number three.
This one requires a little less legwork,
but certainly could get you out
there much more in a leveraged way.
Consider advertising yourself in the local
paper or through neighborhood flyer drops
that you are a buyer and you
are looking for a home.
Be very specific
in the way that you advertise in such
a way that you almost perfectly describe
the house that you're looking for.
This way, when someone reads your ad,
they will know it was meant just for them
because you have described the property
that they own, hopefully, and the property
that they are considering selling.
As mentioned before,
you definitely want to consider
having a realtor help you out with this.
If you do discover a home at the very
minimum, get a real estate lawyer or notary to help
assist you with due
diligence and the paperwork.
The 4th and final strategy to find off-market homes
shameless plug. Right?
let your realtor know that you are
interested in off market properties,
and they can assist you with all
the strategies and more
that I have listed in this video.
Look, a realtor is connected.
They are connected with agents
in the neighborhood who are listing
properties each and every day.
They are connected with home sellers
and a database of clients who are always
interested in not only the values of their
homes, but selling their homes
and generally tend to be big
pillars of the social community.
They're very connected people.
They know a lot of people,
and they just might know the next person
who's wanting to sell a home
just like the one you're interested in.
They can also help you with all
the strategies I have outlined so far
from having access to a list of properties
that did not sell over the last 5
years, working with new listings
through work in the neighborhood
of previous sales,
or even taking on the financial
encumbrances of advertising buyers
in the neighborhood of potential sellers,
a realtor working in your benefit can take
all these duties for you and ideally help
you locate a home that is off the market.
If you're interested in learning more
about finding off market properties
or how a realtor may be able to help you
do this, be sure to check out our website,
which is in the description below.
And while you're there be sure to pick up
one of our free PDFs on either maximizing
your home's value by up to 5% in only
a weekend or the top 6 mistakes home
buyers make every time, and how to avoid
them at the Germyn Group,
we know you only have one chance to sell
or buy a home, so we're here
to help you get it right.
Be sure to like this video and let us know
in the comments below whether you found
the strategies helpful or valuable.
If you have other strategies to share as
well, also leave them
in the comments for others.
And lastly, be sure to Subscribe
to be entered into the draw and we will
look forward to seeing you next time.
Thanks for watching.