Written by Lewis Ridley
Updated over a week ago
If you’re looking for lucrative deals that no one else has access to, going off-market is the best way to go.
However, how do you search for off-market properties when they’re not listed anywhere online?
This article will dive into the ways you can search for off-market properties quickly. Let’s jump straight in.
The most effective way of finding off-market deals is by using mail drops. This is when you send a letter to a house that you like the look of and hope the seller will consider selling
Most of time, these letters are sent in bulk to random addresses. These blanket mail drops can sometimes be effective, but there are better ways of doing it.
Using targeted mail drops is much more effective and it allows you to target specific houses based on predetermined criteria. Thus, when you send a letter, there’s a better chance of them responding positively.
Here’s a few targeting techniques to use.
A good campaign to run initially is a ‘sold in your area’ campaign. This is where you target houses which have had properties selling around them.
You use letter which target them with FOMO (fear of missing out) and show them the potential profits they are missing out on by not selling.
If the owner of the property has been there a long time, selling has probably crossed their mind one or two times. Therefore, ‘last sold date campaigns’ are great way to reach these people and entice them into selling their property.
Combine this approach with local sales stats and you have a deadly approach that can result in some lucrative deals.
A good campaign to run is one that targets houses which have planning constraints. Individuals who have been denied planning or are unable to build something like an extension might be looking to sell.
You can target them with a letter and get in before they go to an estate agent.
With Property Market Intel, you can use all these targeting strategies and more with our off-market deal sourcing tool. Check it out here.
There are specialty websites where owners can put up their house for sale without the need of an estate agent.
These websites include the like of Gumtree, Facebook Marketplace, and other niche sites. They allow vendors to go straight to sellers and avoid paying estate agent fees.
Digging for these properties can sometimes be a pain, but if you know what you’re doing you can find some insane bargains and deals.
Also be aware the houses on these sites might sometimes be in need of refurbishment. So, if you’re after a pristine property that you can rent straight away, this might not be the avenue for you.
A classic way to discover off-market deals is through good old-fashioned word of mouth. This is the tactic investors would use before the invention of the internet and it still works great today.
With the internet, you can supercharge this approach as well, helping to bring people into your pipeline without any manual outbound sales tactics.
Here’s a few ways you can find off-market properties via word of mouth.
With social media, you can let people know when you’re on the hunt for a house. You should be building out your personal brand on platforms like Instagram, Twitter, and Tik Tok so that everyone knows you’re a property investor.
You could also set the criteria you’re looking for. So, when someone has a speciality property and know your name, they might end up coming straight to you if they’re looking to sell fast.
An old-school approach is one that involves networking.
With communities like PIN, you can get in touch with other investors and start growing your network. The more people you know in property, the more people there are to recommend an off-market deal to you.
With social sites like LinkedIn, you can now network from the comfort of your home. Get connecting with local estate agents and investors in your area, and something might come your way.
Again, it comes back to making sure you’re getting your name out, letting people know you’re looking for properties.
Finding off-market deals is a difficult task. Even with the invention of the internet, sellers will likely go to estate agents who can take the burden off their hands.
However, with the tips above, you’ll have a better chance at finding lucrative off-market deals.
With the help of our off-market sourcing tool, you can save time, target specific houses, and save money on letter sending costs.Check it out for free now.