How to Find Below Market Value Deals as a Property Sourcer

Identify Slow to Sell Properties

A quick way to discover BMV properties is by identifying properties that are taking a long time to sale.

You can go on to sites like Rightmove and Zoopla and look for listings that have been on the platforms for a number of weeks, even months. These are the properties you’re going to want to target.

Try reaching out to the agents of these properties and see what the situations is – why isn’t it selling? You might find out the property needs works or that the price is too high for the areas. This is your opportunity to ask if they’d accept 20% below the current value.

Of course, as with all these approaches, do your due diligence to make sure the property is being offered at market value. You don’t want to believe you’re getting a deal when really, you’re just paying normal rates.

As you might know, if you want to speed up this process, we offer sourcing filters for slow to sell properties. Try it out for free now.

Investigate Direct-to-Vendor Sites

Another quick way to find below market deals is via direct-to-vendor marketplaces like Gumtree and Facebook. Not a lot of investors look here, despite the fact you can find lucrative deals.

Vendors use these websites when they’re having issues with agents or because they don’t want to pay the fees associated with selling. More often than not, they’re also looking for a quick sale, providing you with the opportunity to score a good deal.

Make sure to research these properties thoroughly as well. There might be a more nefarious reason these vendors aren’t going through traditional agencies. Maybe the house is unmortgageble or suffers from structural issues.

Make sure to grill the vendor with plenty of questions.

Find Cash-Only Deals

This is one many sourcers are well-versed in. However, it’s still important to mention it for the novices among you.

Cash-only deals are effective if you’re looking for below market value deals. These vendors are typically looking for a fast sell and don’t want to wait around to see if your mortgage lender will fund the purchase.

These vendors will more than likely speak to more investors than residential buyers. So, you need to make sure you’re saying the right things and build rapport.

You can find cash-only deals on sites like Rightmove or Zoopla. However, if you want to get access to lightning-fast filters for cash-only specific deals, try our sourcing platform now. It’s free.

Send Out Advertisements

Don’t be afraid to try your own adverts to hunt for below market value deals. You can advertise in papers, online, or in shop windows where you think sellers might be passing. This is an off-market strategy that has worked for other sourcers, but it can take time.

You can make the advertising more potent by promising a quick sale with cash-buyers only. This will also draw out the motivated buyers from the ones who see your ads.

This is a unique technique to try. However, if you’re looking for speed, this might be one to avoid in the short term.

Targeted Off-Market Mail Drops

Off-market sourcing is something the majority of property sourcers will touch. It is time consuming and rarely leads to positive results. This is largely because it isn’t targeted or automated.

However, with new platforms coming out like ours, you can use data-driven mail drops and discover hidden off-market deals you otherwise wouldn’t have had access too.

These platforms allow you to specific your criteria and use data to target properties that are likely to be selling (or looking to sale soon). You can send write one letter script and with the click of a button, send it to every property address you’ve selected.

Try our off-market sourcing platform now for free. It is cheap to send letters and will allow to discover off-market opportunities your competition isn’t aware of.

Targeted Off-Market Mail Drops

Although this is a boring way, building connections and networking as a property sourcer is essential if you’re looking for top deals. Also, networking and building up an investor list is a sourcer day job, so connecting in the wider property market shouldn’t be a problem!

By attending things like PIN meetings and other local events, you can start to ask questions about people’s portfolios and exit strategy. If you hear someone is looking to sell, offer them a quick solution for a discount.

The connections you build will bear fruit in the weeks, months, even years to come. So, don’t knock the long-term value of building out your network just yet.

Contact Sold Property Listings

A favourite and unheard-of strategy property sourcers can use is contacting sold listings. By going on to platforms like Rightmove and Zoopla, you can search for properties that have recently been sold or are currently under offer.

This might seem like a strange thing to do at first. These properties are gone, right? Well, no, not exactly.

1 out of 3 property deals falls through. So, by analysing the sold listings and calling the estate agents to see if the contracts have yet to be exchanged provides you with an opportunity to jump in on a failing deal.

Because most of these sales involve a chain, the seller will likely want to sell quickly, especially if there has been delays. Here, you can offer to complete the deal but at a discount.

It’s a sneaky strategy that can be very effective. You just have to keep pestering estate agents and be there when deals fall through.

Summing it up

If you’re a property sourcer looking for those lucrative BMV deals, the above strategies will help you out. Some do require a lot of effort but produce great results. With proper implementation, should be finding below market deals in no time.

Of course, Property Market Intel can provide you with the tools and platform to speed this process up. With automated off-market deal sourcing and tons of unique filters, it’s a property sourcer’s paradise.

Try the platform now for free. Alternatively, for more educational article, see our knowledge base.

Related Reading

• How to become a property sourcer• How to find great investment properties• How to find off-market deals