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🗣️ This topic of conversation is coming up more often with sellers, so much so that I felt it warranted a blog post. Hopefully, I can help demystify the two listing options and make your decision a little bit easier.
😵💫 Real Estate changes at a rapid often overwhelming pace with new rules, regulations and guidelines being put into place to protect the buyers, sellers and financial health our country and with this come more questions, concerns and confusion. People are feeling uncertain, unsafe and insecure about their decisions around buying, selling and investing and how or when to list is a topic consistently on the table and there is not a one size fits all solution. I am personally finding that seller’s are moving away from wanting Open Houses, front yard signage and external agents in their home for a variety of reasons. So…
💼 I am going to try to unpack your listing options for you beginning with what I think is the most relaxed, comfortable and simplest of options for anxious sellers; Selling Off Market. No yard sign, no external agents (unless you are open to them) and no Open Houses (with the exception of an agent open, your choice).
😨 Selling Off Market is not for everybody and for good reason but for those afraid to plunge into the pool of selling for the above noted reasons or others; it could be the right solution. And the best news is you can move to an On Market MLS Listing within minutes when you are ready!
👍 Here is why Selling off Market might be a good fit for you…
· Selling Off Market allows the family extra time to fully commit to moving while setting the wheels in motion to do so if and when the price and time feels right.
👉 This works well if you are waiting on a school year to end, a pending retirement date to arrive or a relocation date to draw closer.
· Selling Off Market is perfect for those who know a move is in their future just not the immediate future, so they want to open the door to see what selling feels like until a full committal is required.
👉 This works well for a family that is torn over a move, an individual dealing with a recent loss or change of independence for health reasons.
· Selling Off Market provides an opportunity to offer your property at a price point you desire not necessarily what your agent suggests (based on what the local market dictates, AKA comps.) to see how the public responds on a much smaller scale.
👉An example of this seller would be one that isn’t in a rush to sell but knows they want to or must…eventually. Empty nesters, single parents, people itchy to make a big move/relocate or those with a change of relationship status tend to appreciate this option.
· Selling Off Market allows the seller to list the home for sale before it is ready for the market. By doing so the owners give themselves additional time to pack and purge without the added stress of showings, open houses and expectations. An off-market buyer is a grateful buyer that understands the position of the seller and opportunity they are being presented with.
👉 This is a seller with very little spare time on their hands that is juggling several balls in the air at once typically with multiple jobs, an active family, several children, a new baby or an all-consuming career.
· Selling Off Market keeps your house at zero Days on Market even though it is for sale. This is important as DOM (Days on Market) area a huge indicator of an issue, most often to do with pricing but can be affected by factors including poor curb appeal, undesirable location, lack of general upkeep, maintenance issues, stale aesthetics or even the time of year.
‼️ This should be important to all sellers as homes on market for more than approx. 60+ days (depending on the buyer pool) could have a negative effect on the listing as buyers assume there is something wrong with it.
👎 The con of Selling off Market is exposure. You can not have a for sale sign in your yard. Your agent can not post your home on MLS, social media platforms or in print for the public to access. The agent can use limited creative marketing and share the listing with their brokerage, other agents, their own clients, family and friends. They can not share the homes information, photos, videos or address publicly under any circumstances and if they do; the home must move to an On Market MLS Listing within 3 days of doing so without exception.
👌Selling On Market as an MLS Listing is what most are accustomed to. Here the home is publicly advertised through digital and print advertising, signage and any other means the agents chooses to market it. Once publicly listed on MLS your home will show DOM and you should be prepared to have your home shown, choose a price that aligns with the local market to sell quickly, consider Open Houses, have a sign placed in your yard and an ideal possession date chosen. The home should be clutter free, depersonalized, clean with any updates and renovations completed and your next steps well established.
👎 The con of an On Market Listing is that you must be prepared. Prepared to leave within reasonable notice for showings. Prepared to keep your home clean, tidy and show ready. Prepared to transport your pets out of the home for a viewing and prepared to receive, negotiate, accept an offer and move on…
🤝 In summary, if you ARE ready to make a move and are willing to follow your agents advice for prep and pricing than going directly to MLS with an On Market Listing is the way to go but if not, you might want to explore an Off Market Listing for awhile.
📲 Reach out if you would like to discuss these options in more depth to see what the right solution for you is. The choice is always yours but our job as an agent is to guide and advise you to the best of our ability, knowledge and experience as to help you make the best decision for your unique situation.
P.S.- If your On Market MLS Listing has gone stale you do have options. Speak to your current real estate agent or reach out to me for more information as I’m happy to discuss your options.
Be Well,
Crystal
