Off Market Properties Miami – How to find them?

An Introduction to ‘Off Market Properties Miami ’

Increasingly savvy home and condo buyers are less satisfied to accept the option of ‘What is left on the MLS market’. In 2021 as a result of a mass wealth migration into Miami, a number of neighborhood sectors, price points and buildings was left with little to no inventory. Inventory dropped to levels never seen before. For the first time it has become increasingly necessary to go off market to find the best homes or condos. This article will explain how to do that most effectively.

Off markets, unlike FSBO’s, are more often than not a better, more desirable, better value option than MLS listed properties. Everyone has a story of a friend who ‘got an incredible deal’, but they are rarely the result of browsing Zillow or Trulia. Off Markets are known as the unicorns of real estate and everyone wants one, but only a minority of buyers and agents are successful in finding them. Those that do find them are successful because they make it a full time endeavor to do so.

The Goals of this Article

As the saying goes; ‘If you do what everyone else does, you get what everyone else gets’. The article walks through a 4-step process and illustrates why we are your perfect partner to help you find that ever illusive ‘off market deal’.

Firstly we discuss the importance of Miami’s and Fort Lauderdale’s off market properties and why we feel you should want to pay attention to them. Secondly we cover the different types of off market properties and their inherent benefit. Thirdly, we explain the complexity of illusiveness of ‘off market’. Why you cannot find them easily online? Why the real estate community cannot legally share them online? Additionally we talk about why it takes experience, persistence and strong connections to gain access to them. Finally, we explain how we work to share off market properties with our clients and cite our track record with examples of deals we have done in the past.

Why Are Off Market Properties in Miami important now?

In a dry market homes are often sold even before they are listed. Below are several examples of transaction type that are very common!

Example 1

Many buyers get frustrated because properties sell hours after being listed. You see a listing at 9.00 am, only to call at 9.30 am and find out it is ‘Under Contract’. How is this possible? Simply put, it was never being listed for sale. It was being listed to put ‘pending’ and to record the deal.

What really happened was that the owner hired an agent to sell the property. Before this home was listed they circulated the property to their clients and TOP AGENTS and a deal was struck! The owner and agent got to avoid the hassle of open houses and showings. The seller got the price they wanted and a buyer got the home before anyone else could bid against them. A win/win situation for everyone.

Example 2

A second example. A buyer scours the condo market for a good investment. They work with an agent who they assume is an expert. They settle on a pre-construction condo very early on in the construction process. The agent ‘regurgitates’ the developer price list, which provides a short list of options. Developers only release units in small batches at a time rather than the whole project. This is to avoid being stuck with less desirable units in the end. Therefore the buyer is forced to pick a less than optimal unit.

Later on they find out that a higher floor better corner unit was sold while they were not made aware of this. They go back to get a similar ‘superior’ line to find out all these options were sold.

How did this happen? A savvy agent came in who knew the sales team personally and had studied the building. This agent knew about the elevations and floor plans and  was able to recognize the best floor plan with the optimal elevation. Even though the ideal unit was not released, they managed to convince the developer to sell that specific unit at an agreed price to their client. They work with an agent who they assume is an expert.

Working with A Well Connected Realtor is Essential

The point is that if you are not on the inside track with a very connected and experienced agent you are going to be in a less than optimal buying situation. The top agents, developers and real estate professionals are in constant communication with each other and much of the true luxury product is traded off-market!

We see off market trades especially in the luxury markets. Off Market listings are a big part of a top producers daily business. If you are working with an agent that does not have great contacts with the small group of top agents who are selling 95% of the best product you are selling yourself short.

The Different types of ‘Off Market’ deals.

The David Siddons Group works with many different types of off-market properties. There are the four types of off market properties.

• The Pre-listings: These are the properties that are destined for the MLS. They are often promoted before they hit the market and can potentially trade before they hit the market.
• The True off-market listings: The owners of these properties really want to sell but for privacy reasons they do not want their property showcased all over the MLS
• The New Construction homes:These are new construction homes that are offered off-market before they are ready. The developer mostly does not have real marketing material ready but is willing to share details with potential buyers. The best of these is when you have a shell or something close to being finished to which you can add your personal touch. The earliest stage of this is a ‘land deal’.
• The New Construction Condos: These can be the unreleased units not disclosed on the ‘inventory price list’. These can often be the most desired lines and units. This is because the developer does not want to openly release them to the public at large for fear of cannibalizing future sale opportunity. This can also happen when a new construction condo is about to close. In this case you will find some new owners make their agents aware they are willing to sell. However because they have not legally closed on the unit, they do not have the legal write to advertise it as their own. This type of off-market listings often attracts the attention of buyers who wanted to buy into a condo, but missed out.

We have experience with any of the four types of off market properties. Additionally we have the metrics and the tools to analyze these properties.

How Do We Get Off Market Properties?

We developed many relationships over our years of selling real estate. We rank No15 in the nation according to the WSJ and have spent 15 years being part of the real estate community in South Florida. The second reason is ‘good old fashioned hustle’. Regardless of what anyone will say this is still a person to person relationship business and it’s constant contact with the market.

We add value with reports and articles. This allows clients and other agents to open up and trust us with their most important asset! As the saying goes ‘your network is your net worth!’

In regards to new construction. We have been reporting on Miami new construction since 2010. We have acted as private consultants to some key developers and have become recognized as champions of new product through our detailed ‘new construction’ videos. Whether we are interviewing a developer directly or espousing the virtues of their best floor plans. Developers recognize us as a powerhouse with ‘super broker’ status. Which allows us to travel freely through their sales centers and often have direct communication with the developer themselves.

For new homes we work closely with a number of builders. My wife is owner and operator of Design Solutions who specialize in custom homes. We often find and sell land to developers, champion their product. We support architects like Cesar Molina and add value to their business. In return they share their product with us in the earlier stages.

How the David Siddons Group shares the best Off Market Properties

We deal with the best off-market properties. Whether you are looking to buy a primary residence or and off market investor property Miami. Simply register on our ‘Cherry Pick’ page link seen below and we will do the rest.

Of course we need your tel number and MUST have a phone call to verify you are not an unscrupulous agent looking for free info. We take these properties very strictly and respect entirely all parties involved. But once we have chatted then it’s all systems go. Tell us what you want and let us open up our world of off market properties to you!

Our past off market properties in Coral Gables Miami. Some of our trades are done with end users others are looking for and off market investor property in Miami