OFFMARKET LISTINGS

Dated: 03/28/2018

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HOW TO SELL YOU HOUSE WITHOUT PUTTING IT ON THE MARKET


Launching your home sale as an off-market listing may be a viable option to keep it on the down low.


What are off-market listings?


The real estate market is hot, often snapped off the market in mere days. And although it may seem counter-intuitive, this lack of housing inventory is motivating more “pocket listings,” which is slang for off-market listings – homes that are not listed on the Multiple Listing Service (MLS), and therefore not visible to the vast majority of browsers.

Off-market listings have an air of exclusivity for both the seller and buyer — sellers are drawn to the private, streamlined process that will often net them at least asking price from serious buyers, while buyers enjoy elite access to off-market inventory. Exclusivity aside, we’re taking a closer look at how an off-market transaction differs from listing your property the traditional way (i.e., on the MLS). Here’s some key information to know.


Who should sell off-market?


Very wealthy people, including many celebrities, often sell off-market. They do so for prestige and to stand apart from the general real estate market. Like a private club you must be invited to join; buying a house off-market makes buyers feel as if they’re part of something only an elite few are privy to.

But even if you’re not selling a home that’s worth millions, you might still prefer to sell off-market. Why? For starters, it can be easier. A friend or family member might be in the market to buy a home. You can just sell it to them without having to list it first. Or if your home is in a very hot market, you (or your real estate agent) might want to mention that you’re selling to a couple of key people in town and wait to see if buyers start calling.

How agents find qualified buyers for off-market sales

Networking is key if an off-market listing is to succeed. “An agent [needs to have] a sizable sphere of influence and reliable buyers they know would be interested in the property.


The advantages of selling off-market


If you like your privacy and don’t want people to know your home’s sales price or to view photos of your home, you’ll like selling off-market. The main advantage is that the seller has anonymity.

Selling off-market can also be the best plan for landlords who wish to sell a home occupied with renters. That way, their tenants won’t be disturbed by constant showings.

The disadvantages of an off-market sale


If you want to sell your house quickly, selling off-market is not the way to go. You also might not get the best price. For one, you probably won’t have a bidding war situation, since so few people will even know about your house. If there are fewer people who know about a house, the selling price will be lower on average over a house that is fully marketed.


If you want to know more about OFFMARKET Listings please go to: http://http://www.micasaoffmarket.com/

or call at 786.505.4553 - MI CASA TEAM @ Keller Williams Realty 


Source: TRULIA

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