Two years ago, the Real Estate Market took an unprecedented turn when home values soared and many homeowners quickly became home sellers. Last year, more homeowners followed suit and decided to sell while the getting was good. For the third year straight, all indicators show that the market will once again favor sellers and the results will continue to be astonishing. If you are a homeowner who has been chomping at the bit to have a big pay day but are dreading the preparations required to sell your home the conventional way, I have two words for you: Off-Market Listing.
Also referred to as a non-MLS listing, the process of listing off-market is simple: first, the Real Estate Agent establishes market value. If the numbers work for the homeowner, a listing contract is signed and the agent taps into his or her network to find ready, willing and able buyers. The buyers are made aware of this “exclusive opportunity” to see the house before anyone else. The buyers are also informed that the property is not in “show” condition, if that is the case, and will be sold “as is”. For the most part, today’s buyers welcome any advantage, so they comply with all the rules.
Before even scheduling a showing, the agent will verify that all buyers are financially capable of completing the transaction and informs them that the price is the price….no negotiation. Once the buyer passes this rigorous screening, the agent schedules a showing. Once an Offer to Purchase is signed, the transaction continues in the traditional way. The buyer is happy because there is little or no competition. The seller is happy because they sold their house for the price they wanted, without having to do a thing.
While some agents may disagree and claim that the best way to get the highest price is to list on the MLS, this alternative method is working. But don’t take my word for it. Let’s hear from actual homeowners that have used this method and explain why it worked for them.
Case #1: Jeff and Cindy owned a rental property they were looking to sell once the lease agreement expired. In an effort to close escrow soon after the lease expiration date, we notified the tenant of our intent. The tenant agreed to one day of group showings. That one group showing resulted in multiple offers, and the deal closed for the price the owner wanted.
Case #2: Tony is a Master Electrician who works more than sixty hours per week and has a shop in the basement of his house. Tony struggled with how he could ever pack up his shop or prepare his bachelor pad for listing….until I introduced him to the off-market method. We found a well-qualified and serious buyer who not only paid Tony’s target price but then allowed Tony to take his time moving his shop and residence after closing.
Case #3: Elizabeth and Mike write: “In the fall of 2022 my husband and I decided to sell our home of 27 years when we had the opportunity to move into my parent’s home after their recent passing. We contacted Judy who located comparative properties and did a market analysis. Our plan was to put our home on the market in the spring, giving us time to purge and prepare our home for the sale. The whole prospect was overwhelming and Judy recognized this. She mentioned the off-market method and within a week, she came back with a young couple who were in the market to purchase their first home. This couple loved our home and made us an offer that we immediately accepted. This process has been very smooth, thanks to Judy. We never put the house on the market, got the price that we wanted, and will be closing in a few weeks. We avoided all the stress.”
Bottom line, if you have been thinking about selling your home but dread the time and energy that is typically associated with packing, purging and preparation, listing your home with the off-market method just might be the way to go.
Boyle lives in Northborough where she is also a Chapter Leader of the Neighbor Brigade, a non-profit charitable organization that assists families in times of crisis. She has been a real estate agent since 2005 and is a member of the distinguished RE/MAX Hall of Fame. Boyle is also a Children’s Miracle Network “Miracle Agent” for her commitment to making a donation to Boston Children’s Hospital on behalf of every home buyer and seller she assists.
Boyle’s mission is to empower her clients to make smarter decisions through data-driven insights and local market knowledge. She invites you to call or email her for the Spring 2023 Home Buyer and/or Seller Guides or for a complimentary market analysis.