Depending on your market, the questions of when to list on or off-market might be one that comes up pretty regularly in listing presentations and the answer is rarely a simple one. On the one hand, off-market exudes an air intrigue and exclusivity. On the other hand, you’re limiting the property’s exposure and lessening the chances of multiple offers. So what’s the right answer? Don’t you love it when people answer your question with ‘it depends’? Well, it depends.
Advantages to off-market
- Market your listing without accumulating days on market
- Sellers don’t have to worry about living in a staged home and keeping it pristine
- Set showing times mean an easier schedule for you and your clients
- Filter for serious buyers only and avoid looky-loos and neighbors
- Use the valuable time it takes to prep the listing for the market, and begin exposing it to your network
If you are going to list off-market, the success of the sale will depend entirely on the agents that you choose to share the listing with. Agentdesks network groups offer the perfect audience to market these properties to. Whether you choose to share the listing with other agents in your city or in your company, Agentdesks puts your listing in front of everyone in your network. Agents will receive a notification on their phone as soon as you post your listing and no matter where they are, the mobile network allows them to review the property, forward it to clients or contact you for more information.
Below are three scenarios in which you might consider listing a property off-market.
1. Your clients want to sell, however, they’re a family with young children and can’t possibly live in a staged home or vacate for frequent showings and Sunday Open houses. This is a great candidate for an off-market listing. Your clients will be minimally inconvenienced and you’ll filter for serious buyers only by limiting the showing availability. Just make sure to manage expectations. This process might take a little longer to bring in an offer and it doesn’t exactly drum up the competition so they shouldn’t expect the selling price to sky-rocket.
2. Make me Move. You probably know this one — on a scale of 1–10, motivation level can be counted on one hand. But of course, they would sell, for the right price. To this, off-market is a great answer. An unmotivated seller doesn’t have much incentive to invest in market prep so it wouldn’t shine on MLS anyway. Factor in the days on the market count at your sellers’ make-me-move price and no one ends up a winner. Plus, you won’t make any friends by listing the property, only to turn away reasonable offers.
3. Your sellers are ready and raring to go, but the home isn’t market ready. Painting, staging, landscaping etc. will take weeks. In this case, appease your seller by doing some pre-MLS marketing. You can drum up intrigue by sharing tidbits with close colleagues, no photos necessary. Even if this doesn’t yield an offer, your sellers will be happy that you got the ball rolling and you will have generated a buzz even before the property goes on the market.
Your Agentdesks networking groups offer the perfect platform for sharing off-marketing listings, buyer needs and industry insights with trusted agents in your area.