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Health & Fitness

How to buy the house that no one else knows about

“As soon as a home hits the market, there is already an offer on the table!”

“I can’t believe how many people are at this open house.”

Discouraging remarks from frustrated buyers competing in a market of low home inventory. Welcome to the realities of the Peninsula and Silicon Valley real estate market.

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Some of the best homes never even get to the MLS. Agents network among ourselves, connecting buyers and sellers for what is known as an “off market transaction”. For a variety of reasons, sellers are willing to sell their home without the extensive marketing a good listing agent provides. Privacy is a frequently quoted reason.

What is a buyer to do? Your agent hustles to uncover the off market deal. Directly contacting homeowners, networking with other agents and generally keeping an ear to the ground for the house that no one else knows is for sale.

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Today we received an email from a fellow agent about a new listing he just signed in one of the most desirable neighborhoods of Sunnyvale. The basics of a perfect family home are present – great schools, close to parks, good commute access and it is well maintained but not remodeled (this keeps the price relatively reasonable). Homes in this neighborhood have gone into contract within 7 days or less. The seller is open to pre-emptive offers – what!? The tenants need to move out before they can paint the interior, stage it, clean it, etc, etc. The seller wants to sell it without hassle and is willing to forego top dollar to avoid the sprucing up. Something we as listing agents would not recommend but as a buyer’s agent we say “great idea!” Let’s give our buyer clients the edge in getting a great deal on a house.

We put the word out to clients, friends and family and sure enough, we got some bites. Will it lead to a sale? We will see. But it means that there is a good home in a desirable area that is selling in a hot market, and most buyers don’t even know about it.

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