Selling your house off-market
When it comes to selling your home in the Atlanta housing market, you have two options: You can list it publicly on the open market, or you can opt for a more private sale. This alternative approach to selling, known as an off-market sale, is gaining popularity among homeowners seeking convenience and speed in their property transactions. If you're considering this route, you'll want to learn what an off-market sale is, explore the benefits of off-market sales, and find out how HomeVestors® can help you when you want to sell your house off-market.
What does off-market mean?
An off-market listing, also known as a pocket listing, is a method of selling your property without putting it on the Multiple Listing Service (MLS). In other words, your house doesn't appear in public listings or on real estate websites. Instead, it remains discreetly available to a select group of potential buyers. Selling off-market has become increasingly popular—according to Redfin, real estate agents have seen a significant rise in the rate of pocket listings over the years. This approach is particularly appealing to homeowners who value privacy and confidentiality, or sellers who don’t want to deal with the hassles of a traditional sale.
When you should you consider selling your house off-market
Off-market properties offer privacy as well as the option to skip inspections and repairs and streamline the closing process. However, they may have limited exposure compared to MLS listings, where more exposure in the open markets can lead to higher prices. Your choice depends on your unique circumstances. If privacy or a quick, discreet sale is your priority, selling your house off-market can be a great option. You will need to carefully assess your goals, timeline, and privacy needs to make an informed decision about an off-market sale.
You may want a pocket listing if:
- Your home is occupied by renters: If you are renting out the property you want to sell, selling off-market would help you sell it without the hassle of showing the property to multiple potential buyers and disrupting the lives of your renters by preparing the rental property for showings.
- You want to lower your sales commission: Average real estate agent commission rates in Atlanta are 6% of the sale price of the house. Many sellers choose to sell their homes off-market to avoid paying these commissions.
- Your house requires major repairs: Home repairs can quickly get expensive—the cost of repairing a home to sell can sometimes be higher than what a homeowner can expect to profit from the sale. Selling your house “as is” in an off-market sale could help you avoid paying for costly repairs and renovations.
- You want a fast home sale: Maybe you just want to sell your house the easy way. When that’s the case, selling your house off-market to a real estate investor like a cash home buyer can ensure that you get the speed, privacy, and care you need.