Especially in hot markets like the one we are experiencing now, whether or not a client should sell off-market (without publicly advertising or listing in the MLS) is a common question. Below are the pros and cons to consider with an off-market sale.
- No on-market prep; you can take your time decluttering, packing, etc.
- No strangers coming through your house
- No keeping the house clean and show-ready every day
- No leaving the house for hours at a time to accommodate showings
- No pressure of a hurried timeline, offer deadlines, etc.
- You can still name your terms
- Oftentimes get to meet the buyers
- Generally a more casual atmosphere
- You don’t get to test the market or generate a competitive scenario, which often means a lower sales price and lesser terms than you would get on the open market
- Could leave you feeling some “what-ifs”
- You don’t get the full exposure that you do with a public listing; you’re taking a bird in hand rather than shopping options
Works well for people who:
-Want an inconspicuous sale
-Don’t want to be bothered with market prep or showings
-Have a more flexible timeline
-Value a more casual & comfortable process over a highest & best offer