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What Does It Mean to Sell Your House Off Market?

April 23, 2019 | Michael Gifford Michael Gifford

If you’re selling your house you might want to consider selling off market. Avoid the traditional home sales process by selling to a cash buyer. Here’s how.

If you’ve heard you should always sell your house through a real estate agent, you should know this is not always true. In fact, there are a few different ways you can sell your house “off market” that don’t involve the traditional home sales process.

What does off market mean?

In simple terms, selling a house off market means putting a house up for sale without listing it on the MLS (multiple listing service). The MLS is the network of real estate services used by agents and brokers to publicly promote houses for sale, manage contracts, and establish guidelines for commissions and compensations. When a house sells off market, it is typically purchased in a more direct transaction by a cash buyer and not subject to this market process. 

Selling property off market

Why sell to an off-market buyer?

If you are pressed for time, don’t have the money to make repairs, or can’t gamble on how fast your house will sell, then selling off-market may be the best option for you.

Real estate agents have an incentive to sell property at the highest price they can get, as it increases their commission. However, to get the best price, that means listing real estate publicly on the market to attract more potential buyers. But appealing to more buyers likely requires cleaning and fixing up the house, staging it, hosting open houses, and other time-consuming and expensive activities. The longer the house takes to sell on the market, the more expensive it gets, and the more inclined the agent may be to settle real estate for less than top dollar.

An off-market transaction avoids this stress and expense. In fact, the main advantage of selling real estate off market is that you sell your house as-is, with all it’s charming (or not) imperfections. This means no repairs, and no need to spend the time it takes for showings and searching for a buyer when selling property off market.

Why not sell off market?

Of course, selling property off market is not for everyone. When you list on the MLS and sell through an agent, more people are going to see your home. More potential buyers mean more potential competition and thus, an increased likelihood of selling your real estate for more money.

Without testing the waters of the open market, it’s difficult to know what your house is truly worth. For example, if property is located in a very high demand neighborhood, listing your house on the open market could create a bidding war, in which the sale price can go well over the asking price. However, if your property is not in great condition, it’s highly unlikely that this will happen, as there can be better options on the market.

Find out how Sundae can make you an offer on the spot and put money in your hand in as few as 10 days, so you don’t need to spend months on looking for buyers.

 

What does off the market mean in real estate?

How is Sundae different from other off-market buyers?

If you decide that selling home off market is the right solution for your needs, Sundae can help. Sundae is different from other homebuyers in three important ways:

  1. We take less profit so we can give you a higher price. Unlike other companies that claim to buy ugly or damaged houses, our business is so efficient with operational costs that we don’t need to take a huge profit on every transaction. So we don’t. We take a smaller margin than our competitors to justify taking on the project, and give you the rest.
  2. We’ll give you a $10,000 cash advance before closing so you can take care of moving costs, rental deposits, medical bills, and anything else you’ve got on your plate.
  3. Our team has heart – and many years of experience. We founded Sundae to give sellers a better option than the “flippers” seeking to turn a fat profit. We think the amount of money taken from sellers of imperfect houses is unfair. Our team has the expertise to know what’s financially possible when remodeling a house and the experience to make our business more efficient, therefore give sellers the full picture of what their real estate is worth, and the best possible financial outcome.

 

To get the best off-market price for your property, let Sundae make you an offer. Enter your address here on our website to start the process, or call us anytime at 800-214-4426.

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