Just now starting in the business questions

6 Replies

Hi @Ada White , welcome to the Bigger Pockets community!

Nearly everything I buy is off the MLS. I'm absolutely not opposed to buying off market, but I find that when everyone is shopping in one store sometimes the other store has some good sales to attract buyers -- so it is with the MLS in seasons.

As for "buying off Zillow" I'm not quite sure I know what you mean. Zillow Offers isn't in my market yet, so you may be referring to Zillow Owned Real Estate, or you may simply mean homes that show up on Zillow. Regarding homes that show up on Zillow . . . . those should be the same as the homes on your local MLS plus any FSBO, Make Me Move, or Potential Listings that Zillow digs up.

We're glad to have you here, Ada!

can you find deals on zillow compared to mls? can I just use an agent for a connection to mls listings? in other words how can i gain access to those deals ? I feel like mls might be the better choice for finding deals.

Originally posted by @Will Fraser :

Hi @Ada White, welcome to the Bigger Pockets community!

Nearly everything I buy is off the MLS. I'm absolutely not opposed to buying off market, but I find that when everyone is shopping in one store sometimes the other store has some good sales to attract buyers -- so it is with the MLS in seasons.

As for "buying off Zillow" I'm not quite sure I know what you mean. Zillow Offers isn't in my market yet, so you may be referring to Zillow Owned Real Estate, or you may simply mean homes that show up on Zillow. Regarding homes that show up on Zillow . . . . those should be the same as the homes on your local MLS plus any FSBO, Make Me Move, or Potential Listings that Zillow digs up.

We're glad to have you here, Ada!

 

Zillow is basically the MLS, but for FSBO options and all the FSBOs that post on Zillow are overpriced. The preforeclosures on Zillow are not preforeclosures, they are properties that have had a lis pendens filed and 75% or more get worked out. Zillow uses these so agents can place ads and then get the calls.

The MLS is fine for deals as long as you know what you are looking for and how to search it. The best deals on the MLS will be if your agent sets an alert for renovation properties that come back on the market because their deal fails. Banks and owners are ready to put a deal right back together and it's a great time to slide in and keep their deal going. Other than that, you are just in the same sandbox as everyone else so it is market dependent on how good the MLS is for investment buying. Generally, off-market will get much better deals because you are the only one who knows about it.

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