Selling a Home “Off Market”

Why would a seller choose to sell their home before it goes on MLS in such a hot seller’s market?

This may seem like a “head-scratcher” to someone who thinks that all that goes into selling homes lately is putting a sign in the lawn and waiting for offers to roll in! Now, this may seem like the case in some instances, however, those who witness and participate in these transactions week in and week out, know there is a lot more that comes with selling a home.
Houses hold more value than just brick and mortar, emotions account for a lot of value to each homeowner. There will always be instances where money will not be the deciding factor in real estate transactions, having a property sold quickly and quietly can have enough value to warrant not putting the home on MLS, and of course some of the stress that goes along with this.
Buyers are not necessarily getting a “deal” on the home, and it can be the contrary, but the value to the buyer would be that they would not have to compete and possibly lose the property. The value to the seller is you are achieving an acceptable offer without the possibility of not selling for less than you would expect plus the added bonus of the stress of showing your home (at times).
It can be a Win-Win for both sides and that is why it is so important to be aggressive as a buyer and “Take your Shot”. In such a hot seller’s market, the buyers that go above and beyond and hunt down potential houses have sometimes been the lucky ones who actually secure a property.
Recently, I sold one of my listings before we even put the sign in the ground. My clients were going through some emotional hardship and just wanted to sell (of course at a good price) as fast as possible. Using my network and connections within CBN we were able to secure an offer over asking and off-market!
Of course, you need to weigh the opportunity cost of this if you are a seller. There is a potential you are leaving money on the table. But as I have said over and over there is no crystal ball in real estate and the offer in hand may be the best offer recieved.
It is beneficial to lean on your Realtor to try and provide whatever insight they may have into upcoming properties for sale. It is a Realtor’s job to be in the know and to communicate with other Realtors about potential listings and keep an eye on the market.
This is simply my opinion on the pros and cons of homes selling without being listed on MLS, but as we are seeing in this 2021 real estate market, things can change very quickly.
All the best,
Nick