This is why many people are choosing to sell their property off-market. Off-market means no agents and no MLS. It also means no marketing machine to drive potential buyers to your home and no layers of protection such as home inspections and title company requirements. If done well, it can save you time and put money in your pocket in as little as seven days. If done poorly, you can end up sitting on a property for a long time, just hoping that an angel with a pocketful of cash comes along to bail you out of a bad situation.
Become a Marketing and Real Estate Expert
Selling a home off-market does not mean you cannot market your home, it just means you will not be using traditional methods to do so. Normally a real estate agent provides several functions, for which they receive a fee or commission. With a little research you can provide the same services and keep all of the profit at the end of the deal.
Establish Market Value
Real estate agents are experts at establishing a price for your property, but they are not using a magical formula to do this. They are simply comparing your home against similar properties for sale in the same area. With the advent of online tools for property valuation, you can do this as well. Remember, you will not be paying fees to a realtor so you can price just below market and make the same amount of profit. Use this to your advantage when pricing.
Prepare Your Home for Sale
Many off-market sales do not require an inspection, so many sellers do not take the time to prepare their property for sale. This is a mistake. In a competitive market, it is a wise investment to show your property in the best light possible. Curb appeal is important, even to off-market buyers; a home ready to be sold immediately upon purchase will attract most cash buyers.
Use Nontraditional and Traditional Marketing Channels
Without the MLS, you will need to be creative in your marketing, but many other traditional forms of advertising are still available. A professional sign in your front yard will alert potential buyers in the area that you are open to selling. Host an open house to show you are serious. Approach wholesalers advertising in your area to let them know you have a property for sale. Off-market homes are often sold by word of mouth through businesses with transferred employees, so get the word out any way you can.
Profits from Off-Market Sales Go Directly to You
There are plenty of people looking for off-market homes. Most are cash buyers searching for fast closing periods. Many expect to take possession in as little as seven days. For this, they want a fair price, at or just under, market value. But, with no commissions to pay, this can still mean you are getting more for your property than a standard sale would bring without the stress a traditional sale can create.