When trying to get into the real estate market (either for personal use or for “flipping” purposes), it can be frustrating to find good deals. That’s because there’s a good chance the best deals are being “hidden.” Here’s what should be known about this situation.
Hidden Real Estate Deals
Hidden real estate deals are those that are not listed on the market for various reasons. They are, instead, promoted by listing agents and other experts among people who the agent knows and who they feel would like the property. This is a frustrating situation for many people because it makes them feel like there is no way that they can get good deals on propertly.
That’s simply not the case. Real estate specialist Nick Sakalis has worked for years providing high-quality real estate to various clients, and he had this to say on this misconception: “Well, one of the biggest myths that are in the market are that there’s not great deals out there. I really believe that, regardless of the market, whether we’re in a good market, bad market there’s always a great deal for investors and getting value for your dollar. You just have to look for them.”
But how can investors find these hidden deals?
The Listing Agent May Be Hiding Deals They Could Share
The most problematic concern associated with “hidden” real estate deals is the role the listing agent plays in them. Many buyers assume that working with a listing agent is the best way to get a good deal on a home. Unfortunately, that isn’t necessarily true: they work primarily for the seller, not the buyer.
This doesn’t mean that a listing agent won’t provide buyers with information on potentially hidden deals. Those who have the money and are willing to negotiate, are likely to get a great deal on property. That said, it can be tricky when trying to “flip” hidden property later.
Flipping “Hidden” Real Estate Deals
When buying “hidden” property, it may be hard to sell it because it hasn’t listed before and may be difficult to market. However, Sakalis had this to say about his process: “When somebody’s coming to sell their house, the three best questions to ask. Number one should be how will I market their home. Number two will be what do they feel that they could get for their home in today’s market, and that’s where it comes into play when you give them a market report. Third question that I would ask as a buyer would be what differentiates me from any other agent on the market.”
Basically, the important step is to find a real estate agent that is trustworthy and who knows how to work with hidden properties. In this way, a person can sell property successfully and get the money they deserve.
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