If you’re ready to put your house up for sale, you might be wondering should I sell my house off-market?
In this latest blog from Northside Realty, we explain what selling a house off-market means and what is involved.
As an agency, it’s not a sale method that we recommend, so please feel free to contact our agency if you have any questions or need further advice by calling us on (07) 3264 4033.
What Does Selling A House Off-Market Mean?
What is an off-market house sale and what does it really mean?
It’s a term being used a lot lately on social media and advertising platforms. Firstly, we’d like to point out there’s a big difference between selling your home off-market and a private sale.
What is a private sale?
An off-market sale is when a seller is willing to sell their home to a buyer that a real estate agent may have on their database, without publicly advertising their property across mainstream media as well as social media.
Can you take your house off the market and sell privately?
A private sale is selling your home privately to a buyer without any agent commission involved.
We do not recommend an off-market sale as it wouldn’t be in the seller’s best interest if they want the highest the market is willing to pay for their home. In the end, it is the seller’s decision entirely which way they choose to sell their home.
Disadvantages of Selling Your Home Off-Market
- You might be selling to the first person who walks through the door – there may be other buyers who are currently in the market at the time who aren’t on the agent’s database that will pay more money.
- You aren’t creating competition between buyers that could result in a much higher price for your home.
- You could be saving $2,000 on advertising only to lose $30,000 on the price of your home by underselling it.
- You have a less than 10% chance to sell this way and get top dollar.
- You still have to pay the full agents commission even if it sold in one day with only one buyer walking through.
Advantages of Selling Your Home Off-Market
- No advertising cost to promote your property
- You may get a quick and quiet sale
Should I Sell My House Off-Market?
If you need any further real estate advice, please contact Northside Realty by calling us on (07) 3264 4033 or send an online message here.
Looking to buy, sell or rent property? With a professionally driven team and proven track record, Northside Realty are determined to get you the highest price. Contact Northside Realty today.