In the past year and a half, the Warner Robins area has seen quite a remarkable trend. From June 2020, average home prices have gone up while days to close have gone down. This means that the local residential real estate industry is on fire, and it is giving home sellers the time of their lives — and you can take part in it too.
If you got yourself a problematic house — too worn out, underwater mortgage, soon to be uninhabited, etc. — and you want it off your hands, the last thing you want to worry about is being drowned in hundreds of calls from interested buyers who back out at the last minute. That’s just too much unnecessary stress!
The good news is, you can avoid all the unnecessary stress by selling your home off-market. In this article, we give you an idea of what it’s like to sell “away from the crowds”.
What Is An Off Market Sale?
Usually, when we hear the word “off the market”, we immediately think that the item has been sold already. But don’t be fooled. In real estate, selling off the market means that you won’t be listing your home or property in a multiple listing service (MLS). An MLS is a database of homes for sale that’s accessible between collaborating brokers. Basically, if you list your house on an MLS (or on the market), you are making your sale known to an extensive network of brokers and buyers.
The major downside to selling on the market, though, is the lengthy process. Based on a 3-year data (2018-2021), homes in the Warner Robins area can spend almost 80 days on the market. Some even more than 200 days.
On the contrary, there is less paperwork when you sell off the market because you don’t need to go through a broker. Hence, closing a deal off the market is faster, considering that there is no problem with your property documents.
Advantages of Selling Off the Market
Apart from being able to close faster, here are other advantages of selling off the market:
Save Money
When you list your home on an MLS, you’ll need to pay a listing fee. In some cases, that isn’t included in the 6% agent’s fee. In an off-the-market sale, you won’t have to pay the listing fee. Moreover, since working with a broker is not required off-market, you also won’t have to pay the agent’s fee. Just imagine how much money you save from that!
Maintain Privacy
If you’ve watched real estate reality television shows, you might’ve noticed that open houses are common. This is one of the activities you can expect if you sell your Warner Robins home on the market. As much as open houses seem exciting, it isn’t everybody’s cup of tea. And if you are the latter, you’d be glad to know that you won’t have to meet, greet, and entertain so many strangers if you sell off the market.
Since your sale will not be announced to an extensive network, you can maintain your privacy by only allowing in a few pre-selected buyers.
Your Buyer Can Avoid Competition
The good kind of competition is when it’s a seller’s market — there are more buyers than homes for sale. And this is what’s happening in the Warner Robins area as of this writing. Even if your home isn’t on the market, you can still benefit from a seller’s market. From a buyer’s point of view, it may become difficult to compete with other buyers during a seller’s market, so they turn to homes that aren’t sold on the market. It’s like going through additional inventory that no one knows about, and you benefit from this spillover effect.
Make Your Home Look Premium
Have you ever wondered why social clubs require a membership fee? This is because exclusivity is highly valued. The same thing is true with privately sold homes. The mere idea that you don’t want to broadcast your sale would already give people a sense of curiosity, which you can use to your advantage.
Your Days On Market (DOM) Will Not Be Used Against You
Multiple listing services record the date and time when you first enlisted your home. The downside to this is, if your home stays on the market for too long, it may give a bad impression to your buyers.
“Is there something wrong with the house?”
“The house seems great, but I might’ve missed something, considering that no one wants it”
Buyer apprehensions are common in houses with high DOMs. Likewise, your home’s value goes down the longer it stays on the market. That’s why agents would take down the listing, then relist your home after some time. On the other hand, no one would know how long it has been since you first put your house on sale if you sell off the market. So you don’t have to worry about a significant price reduction.
How to Start Selling Off the Market?
You have two options when selling off the market. Deal with a buyer’s agent or skip the agents and sell directly to a professional home buyer like us. At Spire Property Solutions, the home selling process is straightforward. You won’t have to hire other professionals (e.g. real estate agent, lawyer, etc.) because we will take care of everything for you. We’ve been in this business for years, and we understand the urgency of your concerns. If you wish to receive an offer for your home within the week, don’t hesitate to contact us at (678) 318 – 1801 or leave your contact information with us below.