Post # 1
I have been working with a realtor looking at houses the last couple of months. It’s been pretty frustrating because the inventory is incredibly low in our area right now.
What I’m wondering though, do realtors generally tell you about/show you properties before they hit the market? Supposedly, when my sister bought her house in the mid to late 90s, she looked at it before it had it’s first scheduled open house, possibly before it was officially listed and bought it. My MIL says she’s under the impression that the realtor tells you about houses that are about to be listed. Is this what realtors do or does this not really happen?
Post # 3
This can happen if your realtor is good at networking with other realtors. Sometimes they’ll hear about a listing from their colleague before it even becomes public. We didn’t have that happen to us but I do know people who bought their homes that way.
Post # 4
Yes, it’s possible. The realtor that recently sold our home was a friend of ours, so of course they knew about our home before it actually went on the market. It just depends on if they have connections to people or not.
Post # 5
@Magdalena: Thanks! Just wanted to know if it’s normal to not have this happen to you.
Post # 6
My fiance and I actually just switched realtors because ours wasn’t being as aggressive as we wanted her to be. The type of house we’re looking for goes extremely fast in the neighborhoods we’re interested in and we’ve literally had 3 houses fall through because we were hours behind in getting a contract in. In each of those cases, I’d found the house through the MLS search the day they went on the market. One of them was even listed with our realtor’s agency. So frustrating.
Obviously it’s not possible for a realtor to know about every house before it hits the market, but I think that any good realtor will keep your criteria on their “radar” and contact you as soon as, or before, something hits the market.
Post # 7
Totally depends. Inventory is also really low where we live – we didn’t see anything before it came on the market, but she was watching the listings like a hawk (like I was!) and actually saw the townhouse we ended up buying within minutes of it going up. Stuff doesn’t stay on the market longer than about a week (unless it’s unlivable/listed for double its value or something awful) so you have to be there to look basically the day it goes up, with an offer date of about 5 days after that. Everything we bid on was under contract within 5-7 days.
Post # 8
Yep, that’s how I was able to purchase my condo at the Jersey SHore. She knew what I was looking for, and called me before it was listed.
Worked out for the seller, I made an offer immediately after I saw it – it was one of the best decisions I made. The property and tripled in value since I bought it.