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The Benefit of Off-Market Listings

The Los Altos Hills real estate market is currently very competitive, meaning there are more prospective buyers than there are homes listed for sale. Buyers who want exposure to more homes and sellers who’d like to explore non-traditional means of listing their homes could both benefit from off-market listings. Here is more information on these listings and how to make them work for you. 

What are Off-Market Listings?

When a home is not listed on the MLS or marketed to the general public, it is considered an off-market or pocket listing. These homes are still for sale and are often represented by Los Altos Hills real estate agents. 

However, if the agent does not list it on the MLS, they are also required by law not to advertise it in any way to the general public. This includes flyers, newspaper or magazine ads, social media posts, or flyers. To sell homes that are listed off-market, an agent usually turns to his or her connections in the industry to find interested buyers. These connections can include other real estate agents, those in the title or insurance industries, or those in their database who have expressed interest in buying homes that match the off-market listing.

The Benefit of Off-Market Listings for the Buyer 

If you are looking at houses for sale in a seller’s market, you will likely find the lack of inventory a challenge. Even if you do find a home that fits your needs, the seller will probably get multiple offers on the listing, and you may find yourself in the middle of a bidding war that can elevate the price of the home far beyond your budget. 

When you work with a Los Altos Hills real estate agent who has access to off-market listings, you can look at homes that most of those shopping for houses are unaware of. This cuts down on the competition and makes it more possible for your offer to be accepted.

When you have access to off-market listings, you also don’t have to worry about going through the trouble of searching the MLS every day and wasting time looking at multiple homes that don’t match your needs. Your agent can curate homes that fit your wants and needs, making the buying process less stressful and more streamlined.

The Benefit of Off-Market Listings for the Seller

You may think that fewer eyes on your listing equate to less success in the selling process. However, listing your home off-market can have a number of benefits. They include:

◾ Time and money savings

If your real estate agent already has connections to those who are interested in your listing, there is no reason to go through the time and energy needed to stage, get professional images taken, and develop a marketing plan for your MLS listing. These steps can take weeks of your time and cost you thousands of dollars. With a pocket listing, your agent can market the home directly to those who are most interested in buying it, and you can skip much of the pre-listing preparations.

◾ Less traffic

Anyone who has listed Los Altos Hills houses for sale knows what a hassle it is to host multiple showings and open houses — especially when the majority of those coming through your home are not your ideal buyer. When you list your home off-market, the general public will be unaware that your home is for sale. This allows your real estate agent to limit the number of people who view your home to just those who are actively interested in making an offer.

◾ More privacy

Are you well-known and take your security seriously? If so, the last thing you need is for neighbors (as well as strangers) to know all the details of your home and be able to walk through it. If you list your home off-market, no one other than your Los Altos Hills real estate agent and his or her clients who are specifically interested in your home needs to know it’s for sale.

How to Make Off-Market Listings Work for You as a Buyer

Interested in finding your new home among Los Altos Hills houses for sale that are listed off-market? You’ll need to work with a good local real estate agent who has connections to those selling homes away from the eyes of the general public. When interviewing agents, ask how many pocket listings they currently represent or are aware of through their connections.

To make off-market listings work for you as a buyer, you’ll also need to know exactly what you are looking for. If you are vague about your needs, your agent will not be able to curate the pocket listings that will be ideal for you.

How to Make Off-Market Listings Work for You as a Seller

Working with a well-connected Los Altos real estate agent is essential when you want to consider listing your home off-market. Your agent needs to have a large database full of those who may be interested in buying a home like yours, in addition to a network of other realtors and industry professionals such as professional stagers and mortgage professionals.

If you plan to list your home off-market, you also need to understand why you are doing so. Are you trying to sell your home quickly due to job relocation? Are you concerned with privacy and don’t care how long it takes to sell as long as everyone in town isn’t aware that you’ve listed your house? Talk with your real estate agent about your reasons for pocket listing so they can best set you up for success.
Ready to make off-market listings work for you as a buyer or seller? Reach out to an experienced Los Altos real estate agent like Brendan Callahan for expert assistance. 

 

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Brendan exhibits his genuine passion and solid dedication. He works personally with each client to ensure that they receive exceptional counsel and guidance.
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