By Living Room Realty, June 7, 2018
The Off-Market Transaction
Why yes, you can sell a house without listing it on the open market. It can be advantageous to all parties depending on the situation. A good REALTOR® sometimes even brings the buyer to the seller for these rare opportunities. I have several that I am closing right now. The first one is an owner who was approached by his tenants to buy the house. He was ready to let the family house go to this new family. I did a comparable market analysis and came up with a value for the house that all parties agreed on. The buyers ended up getting their own REALTOR®. None the less, it was a very smooth and agreeable transaction. Some repairs negotiated. Everyone happy. My other off market transaction is in a condo building. A top floor unit became available. A second floor owner wanted to move on up but needed to sell her condo to make the purchase. I was able to bring a buyer to her to sell her unit off market. Quick and easy. This made the contingent offer on the top floor unit smooth sailing. All three transactions close on the same day. In the end, off market transactions in the right situation can make a lot of sense. But never forget, you alway have the chance of making more money on the open market. I make sure all of my clients understand that before agreeing to an off market transaction.