Is Selling Off-Market a Good Idea?

Is Selling Off-Market a Good Idea?

Here is the last of the How to Get the Most for Your Home, Even in the Hot Sellers’ Market.  This bonus article is a hot topic these days…so here are my thoughts on selling a home off-market.

Getting a home sold and sold quickly in this market is not hard.  The goal of selling a home should almost never just be to get it sold or sold quickly. The goal should be how are you going to take the very most advantage of the very best sellers’ market in history AND with as little hassle along the way.  Both are possible and both are important!

What’s happening right now is many sellers are thinking that because the market is so hot, that they can skip steps or sell off-market.   Sometimes selling off-market is a good idea, but often selling off-market leaves thousands of dollars on the table. 

There are pros and cons to selling off-market and there are right ways and wrong ways to do it.

Is selling a home off-market a good idea? Sometimes. 

For some sellers, the thought of tons of people coming through their home in a weekend feels overwhelming and something they are not interested in doing. Others just don’t want to deal with agents (I get it) or think that selling directly to a friend or family member is a better option.  Sometimes it is, but sometimes there are risks involved. 

When Selling Off-Market Is The Right Choice

One of the appeals of selling off-market can come from wanting less people in your home or perhaps the desire to sell in a more private environment.  Maybe you don’t want your home all over the internet or your neighbors to know you are selling.  All those can be very good reasons to sell off-market. 

Selling off-market can make sense during the holidays or when there is a situation that calls for privacy or a quick job transfer. If you want to sell for one of these or other reasons, I can help you with selling off-market if you prefer a more private sale.

These are some good reasons to sell off-market, but it’s not for everyone.

When Putting Your Home On The Market is the Better Choice

If getting the highest price possible is your goal, even if it means being inconvenienced for a short period of time, then putting your home on the market is truly the best option. 

Selling your home more traditionally, means giving it the greatest exposure.  The more eyeballs we get on your home, the more likely more people will come see it, and that means there is no question about what your home could have sold for.

What’s also great about putting a home on the market is that you put your home in a position to not just sell once, but sell a few times because you can have back-up buyers waiting in the wings if anything were to go wrong with the buyer under contract (and it does happen). 

Typically, homes that sell on the market have better terms too—meaning faster closings (if that’s what you want) and less or no contingencies. 

That’s what more buyers seeing it means for you—the best possible price and the best possible contract terms so you can create the exact situation you want—more time to move if you need it, a quick closing if you need that, and less risk of the contact falling through.  You want the offer you take to also go to closing and when you have more offers, you have better terms, period.  We are seeing all sorts of creative things happening between buyers and sellers right now in multiple offer situations. 

What’s Right For You?

Putting your home on the market means exposing it to the most homebuyers possible.   The more buyers who see your home, the more demand is created, which gives you the best possible chance to achieve the highest price.

But, for some sellers, getting the most money for their home isn’t the most important part of selling, sometimes privacy or ease and simplicity holds more value.   Getting a price that is acceptable is enough. 

For others, getting the very most money possible from their biggest investment is the goal.  For those sellers, selling off-market could mean leaving tens of thousands or even more on the table.

Wondering what’s best for you?   There is no one-sized fits all answer.  The answer might not be the same for you as it is for your neighbor.  It really depends on your personal goals and situation. 

Let’s talk about your individual needs, where you are headed and figure out what the best options is.  My job is to help you make the best decision for YOU.   Whether you sell your home off market or on the market, I can help you with both options and either way, my goal is to make sure it’s a good experience for you.  Whatever is most important to you is what I want to make happen. 

Selling Without An Agent

“The market is hot, I can sell my home without an agent and save the commission.”

Understandably, this thought is going through a lot of sellers’ minds right now and it makes total sense at first glance, but let’s look a little further into this. 

Using an agent to sell your home, whether it’s off-market or on the market, gets you the highest price possible, period. According to a study by the National Association of Realtors, homes sold with an agent sold for 35% higher than those sold by the owner.   That more than pays for our commission and then some.  

And, yes, of course I’m saying this also because I’m an agent, but it’s also because of the facts.  I’ve seen the statistics both nationally and locally from all sorts of studies and when you sell with an agent, whether off-market or on the market, you get more than if you sell on your own.  More than the cost of commission?  In this market with the right agent, hands down the answer is yes.    

Next Steps

Whether you want to sell off-market or on the market, I’d love to help you.  My goal is to get you more for your home using me than any other option available. 

Email me to set up a time for us to discuss your specific situation and get a plan in place.