Source: Realty Biz News —
Off-market properties might be the answer if you want to avoid competition from other buyers when looking for your next home. These home sales are sometimes known as pocket listings or quiet homes and aren’t added to the multiple listing services.
Finding a buyer for a home not featured in the MLS requires more work from the real estate agent and used to be very unusual. However, they have become more popular with higher demand in the past few years.
Finding off-market properties for sale can be a challenge. Some methods will make it more straightforward.
Listing your home off the market might not seem like a good option, but it offers some advantages to sellers and buyers.
If the seller wants to keep details of their home sale private, off-market is an option. It can be used to test how much interest there might be in the market. It can also be a way to reduce commission, as there will only be one real estate agent involved.
It has sometimes been used to reduce the days on market, making it less likely that the seller receives lowball offers when it looks like there hasn’t been much interest.
How Off-Market Homes For Sale Benefits Buyers?
There are a couple of benefits for buyers with this type of listing. If you are looking to buy a home in a hot market, this type of listing gives you access to properties most other buyers won’t see.
With limited exposure for the seller, it is unlikely there will be multiple buyers trying to purchase.
Bidding wars will be far less frequent, allowing buyers not to eliminate common contingencies like a home inspection or real estate appraisal.
It might be the only way to purchase a house in challenging buying situations.
Sometimes these types of listings can offer better value, as the seller isn’t paying as much commission and can drop their price.
When buying investment properties, finding off-market listings is a great option.
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