I currently have two real estate deals scheduled to close in the next two weeks and it got me thinking. When those two are done in 12 months I will have done 11 real estate transactions, combination of buying and selling, and not a single one of them was a listed property. This is not to say I did not use a realtor, I worked with a realtor on the majority of them one way or another. What it has shown me is just how important it is to always have the feelers out there and to keep a pulse on the market. If people don’t know you have something for sale they can’t buy it and if you don’t let people know that you are interested in their property, they can’t sell it to you.
When I see a piece of property I like I am not shy to tell the owner that if they ever want to sell to let me know. I have never had anyone be offended by this, usually they are happy to have options. In most cases when they are ready to sell it turns into a win win because we can work out a deal very easily and quickly that works for both of us. I also always let realtors know what types of properties I’m looking for so as soon as they see it they can let me know. There again it results in very clean easy transactions that gives both sides what they want quick and easy.
Finding the right pieces of property has been critical for my success in real estate. The right piece of property is a topic for another post but the important element is purchasing property that fits well with your plan. When you are only looking at listed properties you are looking for what people currently have for sale, not necessarily what you are looking to buy. I instead look for what I want to buy and if that is listed then great if not then so be it. Know what you want to buy and be in a position to buy it when it is presented. It does not matter how you find the right property but that you find it.