Main Content

Finding Hidden Gems in a Low-Inventory Market

The Real Deal

Everything Real Estate in the San Fernando Valley
Wednesday September 23, 2020
Finding Hidden Gems in a Low-Inventory Market

Modern problems require modern solutions, and the modern problem is a severe shortage of homes. This modern problem, however, is bolstered by the assumption that only homes that are listed as for sale are available. It’s understandable how you’d think that - it’s reasonable to assume that if someone wanted to sell their home, they’d say so. A growing trend of “going under the market” is allowing buyers to find homes that weren’t listed, provided they can meet the typical “take-it-or-leave-it” price that potential sellers are putting up.

Hot markets can be “hot” for a number of reasons, but a major one is lack of supply. Finding sellers-who-don’t-know-they’re sellers is a great way to offset some of the buyer-side negatives associated with “hot” markets. Let’s cover some tips for how to find these hidden gems.

First, you need an agent who is willing to go the extra mile. It’s important to distinguish between professional real estate agents, and people who got their real estate licenses because they thought it would be easy money. The latter is rarely worth hiring, as they got into the business for the sole purpose of making quick cash. Professionals are just that, professional; they take pride in their craft, and always go the extra mile to improve their skill set. The Chernov Team is comprised of professionals, we do not waste our time with hobbyists out for a quick buck.

In order to find hidden sellers, an agent can do a number of things. The first step is to look for expired home listings. Expired home listings tell your agent that someone wanted to sell, but ultimately did not do so. These people represent a good time investment, since they are more likely to be willing to sell again when there is a buyer who is ready, willing, and able to purchase at their desired price.

Another slick method of finding buyers an agent may us is to target a specific location, and check the tax records associated with the address, looking for tax records that show a mailing address that is different from the property address. When you spot a property that matches, you can be fairly certain that the property is an investment property. If you can make the “investment” worthwhile to the seller, you may be able to convince them to sell the house.

There are also things that you, the would-be buyer, can do to increase your chances. First, as in life, it’s important to be flexible; the rules are different when dealing with people who didn’t list their homes for sale (there are none), so you need to be capable of playing ball on their terms if you want the home. Next, get pre-approved for a home loan; sellers will take you more seriously when they know you are serious, and have the means to follow through. Finally, there’s a really good chance that the newly-discovered-maybe-seller will investigate their options, thus, it pays to move quickly in order to avoid a bidding war.

At the Chernov Team we are professionals, and we know that knowledge is power. One of the most powerful pieces of knowledge is how to find hidden gems. At the Chernov Team we understand that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.

More Blog Posts

To Love
Tuesday September 2, 2025

The LA Business Journal has selected its 2025 Leaders of Influence and we're proud to announce that Dennis Chernov ...

Read Full Post
Friday August 15, 2025

If the last few years taught us anything, it’s that real estate success often comes down to arriving with the rig...

Read Full Post
Wednesday July 23, 2025

We’re proud to congratulate Dennis Chernov, who has been honored with the prestigious “Valley 200” recognitio...

Read Full Post
Monday July 7, 2025

We're thrilled to announce our very own Dennis Chernov has been named to the 2025 LA500 list by the LA Business Jou...

Read Full Post
Tuesday June 17, 2025

Let’s be honest: life can be stressful, and some days feel more overwhelming than others. If you're looking to cr...

Read Full Post
Thursday May 29, 2025

The 2025 RealTrends rankings are here, and once again, the Chernov Team has been recognized among the industry’s ...

Read Full Post