Why would anyone sell their house off market, in other words, no sign, no MLS listing, no publicity at all? After all, isn't the number one rule in selling a house getting maximum exposure?
Yes, it is, but there are certain situations where an owner wants to sell their home off-market, and I think it can actually benefit them enormously. I can think of three reasons why an owner of property in Marin County chooses to market their home this way.
1. Privacy.Many people can not stand the thought of countless strangers (not to mention all of the neighbors) walking through their home and looking at all of their belongings. The great benefit of a successful open house is everyone sees it; the downside is most of those people aren't really serious buyers for the home. So by selling their home discretely, through a network of agents that they know have serious clients, they can minimize the number of people coming through their home.
2. Exclusivity. People want what they can't have, plain and simple. I believe it was Charles Revson who said, "Refusal is seductive." I was working an off-market listing last year, and I was amazed at how many people would get excited about the prospect of seeing it. I could run five properties past them with better financials, and they wouldn't bat an eyelash. But the one that was off-market, well everyone had to see that one!
3. Efficiency. Let's face it, selling a home is a huge amount of work for everyone involved. Cleaning and preparing your home for sale, keeping it clean every day in case someone wants to show it, and finding something new to do with the kids every Sunday afternoon while the house is held open gets old fast. In a typical off market sale though, a lot of the circus atmosphere goes away. Ideally, there a few showings where agents bring their clients, and then you get to sell the house.
Next: Is your home a candidate for an off market sale?
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