How to find properties before they hit the market?
It may appear to some to be a buyers’ market in 2023 but properties for sale are still in short supply. Here’s a comprehensive guide on how to find a house before it hits the market and get yourself to the front of the buyers queue.
When it comes to how to find a house to buy, finding out about properties before they go on the market can give you an advantage over other buyers. Being ready to go as a buyer can also help your position. Read on for our top tips
Build relationships with estate agents
One of the most important tips for how to find a house to buy before it goes on the market is to build relationships with estate agents. The more you get estate agents on your side, the more they are likely to help you. The estate agent works for the seller – but, they only get paid if they achieve a successful sale. Estate agents are likely to favour buyers that they see to be in a good position and likely to proceed. If you can get estate agents on your side, it can get you to the front of the queue when viewing houses.
They may give you forewarning of properties that are about to come on the market. Some off-market properties are only marketed quietly to buyers the agents trust. This can happen when sellers are divorcing and the sale of the home is a sensitive issue, or a property developer wants to discreetly liquidate stock. Top end properties are often sold off-market as they don’t want the curious snooping around.
1. Start with a face-to-face meeting
One of the first steps to get estate agents on your side, is to meet with local estate agents in your property search area. This is important because you will then be a person looking for a home rather than a faceless name with requirements.
2. Demonstrate that you are serious from the start
If you can show estate agents that you are a serious buyer and in a ready position, they are more likely to take you seriously. Ensure you get a mortgage in principle before you start house hunting. This means they know that you will be able to act quickly, and will put you right at the front of the estate agent’s mind when new properties come in.
3. Swap contact details
Get the details of a specific agent that you can deal with. Exchange contact details and get the individual agent’s name, direct phone number and email. This will not only ensure you always have a point of contact, but will also allow you to develop a relationship with them. It is easier to deal with an individual if possible, rather than a whole office. Give them a rough estimate of what you are looking to spend,
4. Ask the estate agent for advice
To build a relationship with the estate agent, it can help to ask the estate agent for advice. So, rather than telling them exactly what you want, ask for their advice. Estate agents have extensive local knowledge and usually enjoy sharing it.
5. Give the estate agent your requirements
It can help to get estate agents on your side if you come across as having a clear idea of what you are looking for and that you are realistic about your requirements within your search area and budget. In the first meeting tell the agent what type of properties you are looking for, and which exact area(s) you would most like to live in. Make clear which requirements you will not change, and which you are happy to be flexible about.
6. Give specific feedback
After each viewing tell the agent what you did and did not like about the house. This will allow the agent to build up a better picture of what it is you’re looking for. Try to be constructive with your feedback and realistic — there are inevitably trade-offs when you are searching for a home to buy. It may be impossible to find the perfect property that ticks every box.
7. Don’t waste their time
Looking at properties outside of your budget will just annoy the estate agent, and will also make you dissatisfied with your final choice.
8. Keep in regular contact with estate agents
If you do not hear from the estate agent, contact them regularly to tell them that you are still on the hunt, and ask if they have any news of new properties coming on the market. If they don’t hear from you, they will assume you are no longer looking. Equally, always respond to estate agent emails and telephone calls even if it is just to explain why you are not interested in a property. Even after you have put in an offer make sure you keep in touch to gain access to the property for surveying, mortgage valuations and so on.
9. Free up time to view properties
Good houses are sold quickly, so make sure you are available to look at them. If you are never available, the agent won’t think you are serious. Do not miss a viewing. It is rude and is likely to turn the agent against you.
10. Be nice
The vast majority of estate agents are decent people who work hard in a very competitive market. So be nice to them. If you charm them, they might well respond favourably.
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Sign up for property alerts
In many cases it’s not possible to get prior notice that a house is about to go on the market. So don’t just scour the main property portals, if you’re interested in a specific area set up alerts. For example, with Rightmove and Zoopla you can specify your criteria and you’ll be notified when a house that fits your criteria goes on the market. That means you can be quick off the mark in booking a viewing although you still will be competing with multiple buyers .
At ElliotLee with have the same option to sign up to property alerts for properties but for ones that are yet to hit the online portals so you wont find them on Rightmove or Zoopla. Find out more about our Heads Up Alerts or create your own alert here
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Ask friends and family
Turn family and friends into your army of property scouts. Tell everybody you know that you are looking to buy and ask them to keep their eyes peeled and their ears open for any suitable properties about to come up for sale. Often you will hear through word of mouth that a suitable property is, or will soon be, on the market.
Use a buying agent?
If you’re asking ‘Who will help me find a house to buy?’ that’s where buying agents come in. Buying agents work for homebuyers to help them find the right property for them and navigate the buying process. A good buying agent will often know how to find properties before they come on the market as well as find out about properties sold ‘off-market’ too. A buying agent will often secure a discount on a property as well. You can find out more about how buying agents work with our guide Buying Agents Explained.
Should you consider buying at auction?
Buying at auction does have its advantages, you’ll avoid a potentially lengthy buying process and there’ll be no risk of being gazumped. So if you feel you’ve missed out on other properties because other buyers have pipped you at the post you may feel buying at auction offers more certainty to the buying process. But you need to be fully prepared by understanding the pros and cons.
How to make yourself an attractive buyer
So we’ve looked at how to find a house to buy before it goes on the market so you have an edge on other buyers – but to seal the deal you’ll also want to make yourself as an attractive a buyer as possible. To do this you should:
1. Prepare your finances
When a hot property comes on the market, the sellers are far more likely to go for a buyer who is in good financial shape. So get your finances sorted before you start looking for a property and find a house. Speak to a fee-free mortgage broker to find out how much you’re likely to be able to borrow and it’s a good idea to get a mortgage agreement in principle too. Admitting you haven’t even talked to anyone about a mortgage will not instil confidence that you are a serious buyer. While being a cash buyer is obviously an advantage.
2. Avoid being in a chain if you can
Many sellers are worried about being in a housing chain, because their ability to sell their home then depends on other people they don’t know being able to sell theirs. If you are able to be chain-free yourself, then you will put yourself in a stronger position.
First time buyers will clearly not be part of a chain, but if you already own a home, there are ways to make yourself chain free, for example by moving in with family or selling your house and moving into a rented property while you look to buy. However, there are downsides to this such as you may have to pay more in rent than you would have on a mortgage.
If you would like to discuss any of the above please feel free to reach out to us using the contact form attached or via
article credit to HOA
