If you find the idea of selling your home on the open market unappealing, you might be considering an off-market sale. There are several reasons why you might choose to sell your home off-market. It’s much more private, as open market sales require that your home address, square footage, asking price, and other details be accessible by the public. Other reasons include:
- You want to bypass certain repairs.
- You don’t want price changes made public.
- You don’t want to have an open house.
In an off-market sale, you sell directly to a buyer. This saves you from having to show your house to strangers and publicising details you’d rather remain private. Of course, this route presents its own challenges. That’s why we’re happy to offer 4 tips to help you successfully sell your house through an off-market sale!
1. Consider Targeting House Flippers
Finding buyers for an off-market listing isn’t always easy, especially without a realtor’s assistance. That being the case, it’s important to know which potential buyers to target — like house flippers.
House flippers purchase homes so they can renovate and resell them for a profit. They tend to buy homes off-market, sometimes without even seeing them in person. They typically do this because they hope to purchase a home for less than its market value. Flippers may not put forward the best offers, but they’re suitable buyers if privacy is your only real motivation for selling your home off-market.
2. Reach Out to Family and Friends
Do you have any friends or family interested in buying a house? If so, you could reach out to see if they have any interest in your property. This would allow you to sell your home off-market without having to worry about tracking down buyers.
Please keep in mind that selling to a friend or family member can still present complications related to fees and repairs. For that reason, you should consider hiring a realtor and attorney before moving forward with the sale.
3. Take Advantage of Private Online Networks
With a realtor’s help, you can list your home on a private online network to test your asking price and buyer interest. If it appears as though your price is too high, you can simply end the listing and adjust the price going forward. Outside of a house appraisal, this is one of the most effective methods of determining your house’s value in the current market.
This is quite different from when you lower the price on a public listing. Potential buyers who see that a property’s price has been reduced may try to ask for additional price cuts. That’s why some buyers use private online networks to determine a proper asking price before attempting a public sale.
4. Hire a Real Estate Agent
Selling off-market doesn’t mean you still can’t benefit from a realtor’s help. A real estate agent can help you find buyers, navigate private online networks, and negotiate prices. If you’re not convinced about selling your house off-market, they can also help you conduct a public sale that’s more private. This could include hosting virtual tours and limiting in-person tours to only buyers making serious offers.
Hire a Local Real Estate Agent for a Successful Off-Market Sale
Selling or buying a house without a realtor’s help can be needlessly complex. This is especially true when you’re trying to sell your house off-market. That’s why our team is here to help you sell your home off-market in NSW. If you have any questions about house sales, purchasing property with the intention of building a house, or anything else, please contact us.
