Selling Off-Market – Is It The Best Strategy?
The real estate market is always buzzing with buyers looking for great deals, regardless of the time of year. A strategy used by some owners and investors to find the most qualified buyers willing to offer the right price and close quickly, without putting a home on the market, is called selling off-market. What is selling off the market, and how does it work? Is it the best strategy for you? We'll answer all of these questions and more in this article.
What Is Selling Off-Market?
A property is said to be sold "off market" in the real estate industry when it is not advertised or presented to the general public as being available for purchase. Selling off-market usually involves working with a real estate sales agent who has a demonstrated track record of recent sales of similar properties and is likely to have a list of buyers who meet the criteria for purchase.
Why You Should Use The Selling Off-Market Strategy
1. Sell quicker
When you sell a property off-market, you don't have to hold open houses for a significant number of weeks. Your marketing strategy can also be much more straightforward than when you use traditional methods of sale. Additionally, the agent will speed up the process leading to the settlement, enabling you to sell the property quickly.
2. Get serious buyers
You will likely attract buyers who are more serious about purchasing the property because your home is not on the open market to the general public. There is a lower likelihood of getting curious window shoppers or passersby who saw your listing on a website and decided to check it out.
3. Reduced marketing costs
Selling a property off-market can help you save money on the marketing cost you would have paid when carrying out traditional property sales. You might not even require hiring a professional property styler, given that most buyers don't anticipate the property being staged before they purchase it.
4. You can maintain privacy
Off-market sales can be strategically placed in the market to help sellers and buyers who want to remain anonymous when selling or buying a property. If you wish to keep your property sales private, selling off-market may be your best option.
In Summary
Owners and investors who use the selling off-market strategy benefit from a host of advantages, including saving money on the transaction fee, getting serious buyers, maintaining privacy, and many more. Do you want to learn more about off-market selling?
Contact us today to speak with a real estate agent on our PRD team who can advise you based on your specific situation.
Disclaimer: The information provided is for guidance only and does not replace independent business, legal and financial advice, which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. PRD will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.
