How to Find Great Real Estate Deals on the MLS

Statistics and studies show that most people begin their home searches online and end them with the help of a real estate agent. In this heavily technology driven age it is probably no surprise that this is the way most homes in the real estate market are purchased and sold.  

A couple of the largest and most popular search websites include Realtor.com, Redfin, and Zillow. When people use these sites to punch home characteristics into a search engine you are seeing homes that have been listed on the Multiple Listing Service, more commonly referred to as the MLS.  

One thing about the MLS is that it is the first place almost every home buyer looks to find a property to purchase. Finding amazing deals through the MLS, whether you are wanting to find investmen properties or a diamond in the rough you can turn into a gem you love,can be difficult but not impossible.  

Here are three tips for finding great deals on properties with the Multiple Listing Service.  How to Find Great Real Estate Deals on the MLS

The majority of listings on the MLS listed for lower prices are not going to be the most desirable and probably priced according to what you can expect to get. However there are some agents who will list  properties that are priced far below their actual market value. You will probably have to search through many properties before you come across one. Always look at the newest listings first and when you find one of these properties be quick to put your offer in because these properties go fast and for good reason. If you are the first person to put an offer in it can help you avoid competition with other offers and ending up in a bidding war. Some things you can do to help increase your speed on offers include:  

 

Acting quickly is not the only strategy that works to get a property at a good deal. Look for properties that have been on the market 6 months or longer. Owners of properties that are just not selling are more inclined to take a lower offer than someone who just listed a home. Ask your trusty agent for a list of all the homes that meet your needs/ search criteria and have been on the market for six months or longer.  

 

This one is geared toward investors looking for deals 

The funnel philosophy is simple:

  1. Leads come through the top wide open mouth of the funnel
  2. You will analyze a few of the leads
  3. You make an offer on one or two of the leads
  4. Of the offers, only some will get accepted.  

If you want to buy more properties to broaden your investment portfolio you will need to make more offers. To make more offers you need to look at more leads and to look at more leads you need to have more leads coming in front of you for going through your funnel 

To make this strategy work for you getting more leads to look at is key. Stay proactive about working through leads. Take whatever comes your way and work it through the funnel. The right property will come and at the price you want to pay, but it will take quite a few properties that are less than desirable. You will need to funnel.  

Finding great real estate deals on the market today is becoming tougher as competition stiffens, but it is not impossible to find a property for a great price if you are willing to move quickly and stay on top of the game.  

A great agent is a great tool to have when searching for special properties. Let our team of agents help you find a great deal on your next property.  

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