Yesterday, we closed our fourth off-market buyer sale of the year (Richard, 1 and Jim, 3).
Here’s how they happened:
- Reaching out to other agents working the neighborhood.
- Saw one in the Compass Coming Soon section (which was public).
- Saw one on Zillow as a Coming Soon.
I haven’t been a proponent of this method for my sellers. But pursuing off-market inventory is a good way for buyers and their agents to increase their choices.
One challenge to completing an off-market sale is that the seller will use the idea of going on the open market as a negotiating tool, and they are prone to beating you over the head with it. But at least the chances of getting into a bidding war are greatly reduced.
The new Clear Cooperation policy allows for in-house sales, which is legitimizing the off-market sale. Brokerages everywhere are being forced to develop their own exclusive off-market platforms.
Now we have Coming Soons being uploaded to our MLS only (and not to the search portals).
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