Sellers agree to market their properties outside of the Multiple Listing Service (MLS) for a variety of reasons. They may not be able to move before they sell, so their home won’t look as good as some of the comparable sales. They may have limited funds to paint, stage and fix up the house for sale. Or maybe they have small children, pets or tenants that make showing the property a challenge.
And finally, many off-market sales happen because a seller knows an agent who personally has a buyer for that seller’s property.
Many off-market sales are in very high price ranges, and there simply aren’t that many buyers out there who can afford those properties. So agents reach out privately to brokers who typically represent multi-million dollar buyers. Continue Reading