These two alternative selling options might be just what you need.
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It’s been a cold February, but our market is super hot and moving quickly. Today I’ll talk about an important part of this market: off-market properties and ‘coming soon’ properties.
Whether you’re buying or selling in our crazy-hot market, you’ve probably heard of ‘coming soon’ properties. With a coming soon property, the seller knows they’re listing the home in (typically) two to three weeks but aren’t 100% ready for it to be out there yet. Therefore, they’ll list the home as coming soon just to notify buyers.
The downside of this is that you could find the perfect buyer who’s in town for only three or four days and not be able to show them the home because it’s not in ‘active status.’ So while listing a home as coming soon is useful in that it creates a bit of exposure leading up to the home going live on the market, it also takes some control out of your hands in terms of how your home is marketed.
This leads us to off-market properties. You won’t see these everywhere, but the strategy behind them goes something like this: If a seller knows they’ll be moving in, say, six months, they might like to know that they have a contract right now that will let them move in six months and take advantage of this incredible market. They can have everything locked down so that when they’re ready to go, they know their home is sold and don’t have to deal with showings.
If you’re interested in selling your home and know what your timeline looks like but aren’t quite ready to go live, the off-market strategy can help you.
In this day and age, with the ongoing COVID pandemic, some people would prefer not to have buyers streaming through their house. This, then, is a beautiful way for you to search for the right buyer and vet them. If it’s a good fit, you can make a deal before ever having to put your home on the market. As a bonus, you can avoid prepping your home for the market because the buyer may be willing to purchase it as is. If you’re interested in selling your home and know what your timeline looks like but aren’t quite ready to go live, the off-market strategy can truly change how you sell.
That said, if you decide that your best option is to go active on the market, this gives you plenty of time to let an entire database’s worth of buyers and agents know when you’re selling and what kind of features your home has. That will build a huge tidal wave of hype leading up to your home officially being listed.
If you’re a buyer and don’t have access to off-market homes, give me a call. A lot of buyers out there are engaged in multiple-offer situations and losing out on homes just because the market is so competitive. Our goal is to match a great buyer with a seller who isn’t ready to go on the market yet and create a win-win situation for both parties. If we’re able to find the right property for you and the seller can get their terms, we can make a deal without the added stress of a traditional home sale.
If you’d like to pursue the off-market strategy as a seller or have questions about this topic, don’t hesitate to reach out to me.