Off-market properties are all properties that are for sale, but are not listed with a Multiple Listing Service (MLS) or an agent. Buy off market property to gain buyer’s advantages. However, sellers also benefit from off-market property purchases.
Buyers’ Advantages
Because the properties are not listed, off-market property buyers experience significantly less competition, which typically leads to a lower purchase price. In addition, this buying strategy expands a buyer’s real estate purchase options.
The seller is not typically receiving multiple offers. Therefore, buyers also have time to evaluate the property and compare it to their investment goals, resulting in healthier investments. In addition, buyers are able to discuss their investment objectives with sellers, ensuring their goals are met.
Sellers typically learn about off-market properties that meet their investment needs through direct marketing, public records research or their network or team, so they do not have to look at as many homes and they do not have to contend with multiple buyers at open houses.
Sellers’ Advantages
Sellers of off-market properties are able to test the housing market. Because their homes are not listed on an MLS, these properties are not judged by the number of days they have been on the market.
Sellers also have complete control over the selling process and avoid costly open houses and the inconvenience of having to show their homes to multiple buyers or investors. In addition, they may be able to avoid using an agent, so they pay fewer fees and are able to keep more of the sale price.
Finally, properties that are not listed in an MLS can be sold discretely. Sellers may require privacy in the event of a divorce, bankruptcy, etc.
If you are searching for a new home or investment property, or you want to sell your home, consider off-market buying and selling strategies to maximize your advantages.
