Methods are described for preparing magnetic resonance imaging (MRI) and/or magnetic resonance spectroscopy contrast agents where the contrast agents are prepared from precursor molecules having at least four non-zero-spin nuclei that form two pairs of chemically equivalent or effectively equivalent nuclei, e.g., diphenylacetylene or diethyl oxalate. The precursor molecule is hyperpolarized and a sequence of one or more radiofrequency pulses is applied to transfer spin state population between the first and second pair of nuclei, thereby providing a non-equilibrium single state nuclear spin population. To detect the contrast agent, another sequence of one or more radiofrequency pulses is applied to transfer singlet order to polarization. No transformation of the molecular structure of the contrast agent is necessary for detection. Also described are methods of imaging targets using the contrast agents.