# Proprietary deal flow

Deals found by approaching owners before a broker lists them.

Reaching owners before they list means less competition and better prices, but it is bought with months of unglamorous outreach for every deal that lands. Most serious searches run both channels at once, using brokered listings to learn a market while off-market outreach works the targets nobody else is talking to.

In numbers: A [searcher](https://searchspheresource.com/glossary/searcher) mailing 200 owners a quarter at under $1 a letter might earn a few real conversations a month; deals sourced this way rarely appear on a listing site, so few other buyers are bidding.

Source: https://searchspheresource.com/glossary/proprietary-deal-flow
Not dated: A definition is editorial: what a term means, why it matters, and an example. None of it reads a source that can go stale, so there is no date to take and a stamped one would be the build time wearing a costume.

Site index for machines: https://searchspheresource.com/llms.txt