I read an article today about agents who are selling "off-market" properties. The article mentioned several reasons why selling "off-market" properties would be negative, mentioning that the missing data would impact future sellers. While this could be one factor to consider, there are other considerations.
1. For investors, off-market properties offer a unique opportunity, allowing them to acquire a property while out of the spotlight. The advantages to an investor in these cases allow them to perform their due diligence without the typical constraints that could alter, impede, or impact the outcome.
2. Commercial sellers who don't want their current business affected by showings, an off-market, private sale provides them with the luxury of staying under the radar while operating their business. Often, a business does not wish to alert their employees until a sale is iimminent. It's just good business sense.
3. More buyers and sellers are seeking great privacy. Not everyone needs to know your business. For whatever the reason, all parties should respect the privacy requirements of those involved. For this reason, a solid Non-Disclosure Agreement is the way to go.
4. Depending on the type of business, security is another reason why many choose to go the "off-market" route. Many high-worth individuals have valid reasons to remain in the background.
5. Rare inventory-type properties often have more restrictions for showing potential clients. Many of these are high-end luxury homes, and historic properties. When the property is not your typical asset, there will be more restrictions to showing and touring these properties as well as remaining confidential.
Whatever the reason, there are some properties and clients who desire to remain private. As REALTORS®, it is our duty to provide services while also respecting privacy. I sell many investment-type properties that never hit the market due to many of these points. Each situation has been unique and all parties have appreciated the process.
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