Important takeouts:
Out-of-market property is a home not listed in MLS, but it can provide exclusive opportunities for buyers and investors. Networking, direct outreach, and online platforms are common strategies. Real estate agents often have insiders access to future lists.
What are out-of-market properties?
Out-of-market properties are homes that are not publicly available to multiple listing services (MLS) but are for sale but not publicly available. These properties, sometimes referred to as “pocket listings” or “quiet sales,” are sold personally through agents, word of mouth, or through investor networks. For buyers and investors, out-of-market opportunities can mean less competition and in some cases better pricing.
According to the National Association of Realtors, 20% of transactions in some markets occur in MLS, indicating the importance of investigating these hidden opportunities. Learning how to buy a home outside the market gives you a competitive edge and access to transactions that others have never seen before.
Step 1: Work with experienced real estate agents
Well-connected real estate agents often have access to their pocket lists and PRE-MLS lists through a professional network. Agents may know about future homes before they go live, or may represent sellers who prefer private transactions. By partnering with agents, you can hear first about these transactions and get expert guidance on pricing and negotiations. For more information, see Redfin’s Working with Real Estate Agents Guide.
Step 2: Networking with other investors and experts
Networking is one of the most effective real estate strategies for finding out-of-market transactions. Participate in meetups with local real estate investors, connect with builders, and participate in professional associations. Relationships with real estate managers, contractors and lawyers can also lead to unadvertised opportunities. For more insights, see Redfin’s guide to purchasing investment property.
Step 3: Explore online platforms and markets
Several online platforms and apps focus on connecting buyers and investors with out-of-market opportunities. Some of the best apps to find out-of-market properties include:
Redfin App – Pre-market listings will be coming soon in some regions before hitting MLS. DEALMACHINE – welcoming investors with “drinking dollars” and direct mail campaigns for property owners. PropStream – Provides detailed property data, ownership records and contact information for direct outreach. Loopnet – A commercial real estate platform with frequent multi-family and mixed-use opportunities outside the market. App Pros Cons redfin app app free easy easy haped cold trustnationed National Brand is coming soon, with millions of users updating MLS-connected data accurately and frequently MLS-connected data. Best results require consistent use targeting homes that are painful or out of market. Investors seeking commercial or multi-family out-of-market opportunities
Some of these platforms may charge a fee, but provide access to a stable flow of potential transactions.
Step 4: Use direct mail and target outreach
Many investors find out out of the market by contacting homeowners directly. You can reveal sellers accepting out-of-market sales by writing, postcarding or even calling your target neighborhood property owner.
This is one of the most effective ways to contact your homeowner directly to buy your property. This approach requires time and consistency, but can lead to valuable connections.
Step 5: Drive for $
“Douli driving” means scouting directly through your neighborhood to identify properties that appear to be vacant, ignored or unutilized. Buyers and investors often pay attention to the address and contact the owner directly. This practical strategy requires effort, but you can reveal hidden gems, especially if you are looking for a home that has been tormented or vacant for sale.
Step 6: Monitor public records and auctions
Public records such as probate applications, notices of seized, or tax liens may indicate potential opportunities for out-of-market opportunities. Similarly, court auctions and sheriff’s sales often feature real estate that has not yet been publicly disclosed. These transactions may involve more risk, but they may also come with significant rewards. For more information, see Redfin’s guide to foreclosure auctions.
Step 7: Build a long-term relationship
Finding out-of-market deals is not necessarily about quick wins. Building long-term relationships with agents, investors and property owners create a stable flow of opportunity. Over time, people in your network may bring you a direct transaction and save you search efforts. These networking tips for finding real estate outside the market are especially valuable for investors looking to explore size.
Out-of-market list challenges
MLS Clear Cooperation Policy
The National Association of Realtors (NAR) has introduced a clear MLS cooperation policy to increase transparency in real estate transactions. The rule, known as MLS Statement 8.0, requires that real estate agents submit properties that they are marketing to multiple listing services (MLS) within one business day.
NAR explains that Off-MLS listings can “distort market data, reduce seller and buyer choices, and undermine real estate agents’ commitment to equal opportunity.” This policy is designed to provide fair access to the homes available to both buyers and sellers.
Practical impact
MLS Statement 8.0 significantly reduces the number of off-market lists. As most agents and MLS are members of the NAR, they must comply with this policy and cannot widely sell properties other than the MLS system.
The out-of-market list still exists
Even with MLS statement 8.0, buyers and sellers still have the opportunity to trade outside the market. The policy includes the following exceptions:
Office-Exclusive Listing: Properties that agents share personally with individual buyers rather than public MLS. Non-MLS Display: Sellers can request that the home be excluded from the Internet display via the MLS IDX feed, allowing for more privacy.
Moreover, not all licensed real estate agents are members of the NAR. NAR membership is voluntary, so some agents operate outside of the rules. That is, it is not bound by MLS statement 8.0.
FAQ
How do you find a home outside the market?
You can find homes outside the market by working with connected real estate agents, networking with investors, driving in your neighborhood, checking public records, or using an online platform specializing in pre-MLS listings.
If you’re looking for a top agent, check out Redfin Premier’s Redfin. The program identifies Redfin’s best real estate agents, particularly agents with expertise in the luxury real estate market. These agents are recognized for providing a high level of service to buyers and sellers. Is it cheap to buy a house outside the market?
Not always. Some sellers may offer lower prices to avoid listing fees, while others expect a premium of privacy and exclusivity. Tools like Redfin’s Home Value Estimator allow you to compare prices. How to find a home away from the market?
Check your MLS history through a real estate agent, monitor listings that have expired or withdrawn, and contact the owner directly. Some homeowners may still accept sales after they have removed their listings. Is it dangerous to buy the market?
There may be risks. Without MLS exposure, buyers may have less transparent pricing or less disclosure. Working with experienced agents will protect your interests and ensure proper due diligence. Still, it’s worth asking yourself: Is it worth buying a house outside of the market? For many buyers and investors, the answer is yes. As long as you understand the risks and do your homework.
Next steps to successfully find out-of-market properties
Out-of-market real estate allows buyers and investors to access less competitive and exclusive opportunities. Networking, leveraging real estate agents, and using creative search strategies will help you uncover hidden transactions and make smarter investment decisions. For best results, focus on being consistent and building strong professional relationships.
