A couple of months ago I was working with sellers to prepare their condominium on the Great Highway in San Francisco for sale. (You can read about it here.) They offered to sell it to their tenant, and as it turned out, the tenant's friend purchased it. It was a smooth transaction, and the sale recorded in July.
Nice for the tenant; no need to disrupt life and move. Nice for the out-of-the-area sellers; a quick sale at a very good price with a minimum of effort needed on their part.
This sale occurred without putting the property on our multiple listing service, something I usually advise against doing.
It's important for sellers to know the benefits of using the MLS. Listing property with a local MLS exposes a seller's property to all real estate agents and brokers, and their potential buyer clients, who are participants or subscribers to the MLS or a reciprocating MLS. Reducing the exposure of the property may lower the number of offers and can negatively impact the sales price. This is so important, in fact, that our standard listing agreement form devotes a full half-page of the 5-page agreement to this issue. We want sellers to know the benefit the MLS brings.
Unique situations do occur and then strategizing to find the best solution becomes important. Sometimes a seller is ill or bed-ridden making property showings very difficult and open houses next to impossible. Sometimes it's a privacy issue, especially for high-end sellers.
Sometimes, like with this Great Highway condominium sale, a private sale that meets the needs of all is the perfect solution.
If you are thinking of selling your San Francisco property and would like to meet to brainstorm the best solution for you and your needs, give me a call and we'll figure out the best strategy for you.