What Does It Mean When A House Is Off The Market?

what does it mean when a house is off market

Whether you’re looking for new properties or considering selling your own, you can open yourself up to a whole new world of real estate when you start looking at properties that are “off the market”, but what does it mean when a house is off the market?

When a house is “off the market”, it means the property is not publicly listed or advertised as being for sale. Now, this doesn’t mean a home can’t be bought by the public, it just means the seller can control the selling process on their own terms, if the right buyer (and offer) comes along. 

The conventional way of selling a home is to do so by listing it publicly in the Multiple Listing Service (MLS), a database where agents share information about homes for sale in their area and try to connect potential buyers. But for homeowners that would rather avoid the public eye when selling their home, this route doesn’t offer much in the way of privacy. 

Owning a house is undoubtedly a huge milestone. But sometimes life happens and you unexpectedly need to consider selling your home, for personal or financial reasons. But as some properties can be in a serious state of disrepair, selling your home “on the market” isn’t always the best option. That’s why homeowners in San Diego work with a company like us to get the most cash for your home, without all of the hassle of a traditional market sale. 

So, how easy is it to sell an off-market property, and what are the advantages?

How Do You Sell An Off Market Property?

If you’re planning on selling your home off market, that means the property won’t be listed on public property selling platforms. The most common route typically involves using real estate professionals to promote your listing and connect you with potential buyers. 

When you sell your house off the market, it means you’re choosing to conduct the sale privately, rather than publicly advertising your property.

If you decide to go this route, you have one of three options:

  1. Advertise your house privately to a select group of people, by word of mouth or direct marketing. 
  2. Ask a realtor to conduct what’s known as a “pocket listing” and market the house in private without listing it on the MLS. 
  3. Cut out the middleman and work directly with a buyer like Trusted House Buyers without advertising the property.

Advantages Of Selling A House That’s Off The Market

With keeping the sale of your home private, you may be wondering if it is more difficult to find a good buyer that offers a more than fair price. The good news is, if you’re reading this – you’ve found us! 

Selling a house that’s off the market comes with several advantages. First, you have the opportunity to test the waters and conduct a trial run to see if your home would sell at your present asking price. A huge advantage is that you also get to bypass the additional appraisals, inspections, repair, and any other costs associated with making a home attractive to buyers. We buy houses as-is, leaving you with the least amount of stress and additional costs needed to sell your home. 

Then there’s the aspect of discretion. If selling your home is the result of a painful event in your life, like a divorce or the death of a loved one, then selling your home off market makes the process more private. And in essence, you’ll have more control over the entire home selling process. You’re in charge of who views your home, at what time, and when. You can dictate the asking price and minimize foot traffic through your home. Working with the right buyer can get you a cash offer within hours of first meeting, and close on your home much faster than the traditional on-market sale process.

Conclusion

When a house is off the market, it doesn’t necessarily mean it’s not being sold. It means you simply want to handle the sale privately for a number of personal or financial reasons. With an off market sale, you get to maintain your privacy and determine the pace of the process. 

Many housing markets like San Diego can be a tough landscape to navigate through without the right knowledge or partners. Whether you’re just looking for a fast and fair cash sale, or have a property that requires too much work for a traditional market sale – we can give you a cash offer on your home today.

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