An off-MLS listing (off market) is a property listed with a broker that is not listed on the Multiple Listing Service (MLS). The listing never hits the public marketplace, but rather “trades” or sells, without public awareness. In 2021, 303 single family homes (11% of total solds) sold off-MLS in Marin County (Source: BAREIS MLS). These listings are marketed via office exclusives, Aalto, Top Agent Network, and old-fashioned word of mouth. It is in a buyer’s best interest to buy off-MLS because of the limited/reduced competition.
Work with a team of top agents like ourselves who have access to off market properties. Don't forget to contact us directly and let us know what you are looking for so we can send you additional properties not public facing.
Great question! The reasons being primarily privacy or convenience. For privacy, the seller may be a private person, celebrity, etc. The seller may prefer the public does not know their property is for sale and they may avoid the public touring their property at open houses. For convenience, the seller may want to occupy the property during the listing process and avoid the inconvenience of vacating, preparing (paint, landscape, stage, etc.). Some sellers may want to “test the waters” to see how the private market values their property. Rather than go through the time, effort, and money to prep their property, they may be willing to sell the property at a discount for convenience. These sellers may also want a rent back from the buyer to allow them to find their replacement property, finish the school year, etc.
Limited marketing exposure, fewer showings, fewer offers, and ultimately a lower sale price. Without full comprehensive marketing exposure, the competition is lower and buyers will not feel the need to compete to the same level compared to the property marketed on MLS. If your goal is to sell for the highest possible price, there is only one way to find out, casting the widest net to market the asset by listing on the MLS.
As your trusted real estate advisors, we are committed to delivering the highest level of service and marketing, sharing our experience and expertise to help you achieve exceptional results.