Unfortunately, the combination of increased demand and tight inventory is driving real estate agents and their companies to create an underground economy for housing.
Beware of agents who offer to “privately and exclusively” market your property to their VIP buyers. It’s enticing. “You don’t have to go into the Multiple Listing Service,” they whisper. “We can sell your home for fair market value without the hassle.”
Convenience has a steep cost. If you sell “off market” you risk not achieving fair market value since you aren’t getting full exposure to all the qualified buyers. And let’s face it, you still must clean, declutter, and get into show shape. So, is the hassle just getting more interested buyers into the house?
Bidding wars are driving prices up. Think of selling “off market” as an auction with one or only a handful of people in attendance. Don’t you want your auction room teeming with buyers to bid on your home to ensure the best price and terms?
A Bright MLS study reports that after comparing hundreds of thousands of homes in six states and DC, homes promoted in the MLS sold for 16.98% more than homes that were not.
The industry refers to these secret listings as “pocket listings”. They are listings that agents keep in their pocket to shop for a buyer. Selling off market allows the agent or company to keep all the commission. It is great for the agent, but it is a raw deal for the homeowner.
If an agent suggests you sell off market, make an informed decision. Be aware that It is against MLS rules to suggest to a client to sell off-market. MLS knows it’s lousy for sellers. “Private marketing” is an oxymoron; it is not marketing. It lacks the exponential power of full marketing through the MLS.
We understand our fiduciary duty to our clients is to get them the most money and best terms. Our sales strategies prove that homes promoted through MLS sell faster and for more money. Count on Leading Edge to watch your back so you can make top dollar when you sell your biggest investment.
Contact our team at www.KeyTeamSold.com or reach out to me direct at 978-720-9070 to learn how we protect sellers like no other brokerage. We'd love to help.
The more you know...
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