Primarily, real estate investing means finding properties that offer the greatest potential return on investment. That also means knowing where to find the best possibilities, and often it involves researching and examining off-market properties. With tight markets, home buyers, especially investors, need an edge, but it takes some skill and inventiveness to find these off-market possibilities. That’s why I advise using an agent to help you find off-market properties in Northwest Arkansas, Fayetteville, and Greater Northwest Arkansas.
Benefits of Off-Market Properties
Trying to find off-market properties in Northwest Arkansas is worth the effort and will bring many benefits for investment buyers. First, it gives you access to a large inventory that your competition can’t even see. And when you have access to off-market listings, you increase your odds of purchasing properties you want at a good price. Word of mouth used to be about the only way, but the Internet has now changed all that.
Kinds of Off Market Listings
To find off-market properties in Northwest Arkansas or Fayetteville you could use an agent to look through those overlooked listed homes. Or your agent could search for genuine off-market investment opportunities, such as:
- Those found by direct marketing with homeowners looking for a quick sale
- Foreclosures
- Properties of absentee landlords who want out
- Probate properties
- Potential seller leads without enough cash to repair their property before listing
An Overlooked Way to Find Off-Market Properties
One way an agent can help you find off-market properties in NWA is by working expired listings. This is often overlooked and so may offer considerable potential. Often investors don’t go after expired listings because they think the seller won’t be flexible on price or that the niche may be oversaturated with agents. Still, it can work.
Many sellers whose properties didn’t sell become highly motivated sellers later on and will be willing to bend on price just to finally get out from under the property. In addition, your agent can help motivate sellers even further by having a serious buyer – you – ready and waiting.
Circle Prospecting
Another way an agent can help you find off-market properties is by cold-calling a neighborhood you’d like to buy in. This is a lot of work for your agent, but it affords them other opportunities as well, so they may be inclined to schedule a few hours in their week for this purpose. It may not always result in an immediate deal, but it gives you both plenty of opportunities, and it gives the agent the opportunity to make an introduction to lots of homeowners they may also be able to help in the future.
Online Marketing
It’s best to work with an agent who’s known for their online presence and social media marketing skills. An agent who spends money on advertising to produce their own deals will often run into opportunities that are not necessarily well suited to a traditional listing and sale. Being their go to “buyer of last resort” can be beneficial for you in these cases.
Navigating the Process
Using an agent to help you find off-market properties in Northwest Arkansas, Fayetteville, and the rest of Northwest Arkansas will definitely give you a leg up in the investing game, but there’s more to it than merely finding those properties. You still have to go through the process of actually purchasing the off-market properties. A good agent will be thoroughly versed in all the ins and outs of the process. So finding a property is only part of the battle – you still have to close the deal.
If you want great deals with a promising ROI, you should probably consider using an agent to help you find off-market properties in NWA. A good agent will not only help you find those promising investment properties but will help you navigate through the whole process.