When a property on Zillow isn’t listed by the owner, it signifies an untapped opportunity for cohosting or arbitrage. However, seizing this opportunity demands a proactive approach. By diligently researching ownership details, initiating direct communication with the owner, and presenting a compelling proposal highlighting the benefits of short-term rentals, one can negotiate favorable terms. Formalizing the agreement through a written contract and preparing for effective property management are crucial steps in leveraging this potential opportunity to its fullest.