The Advantages of Buying and Selling Off-Market
The Toronto real estate market has become highly competitive with interested buyers and apprehensive sellers. For some, the increase in average home prices has ignited their interest in selling, but they aren’t interested in welcoming the rush of highly motivated buyers into their homes.
The Toronto real estate market has become highly competitive with interested buyers and apprehensive sellers. For some, the increase in average home prices has ignited their interest in selling, but they aren’t interested in welcoming the rush of highly motivated buyers into their homes. Others want to purchase a home in the GTA, but the competition is making their dream harder to attain.
Luckily, there is one solution that both buyers and sellers can take advantage of, and that is buying and selling off-market.
What Does “Off-Market” Mean?
Traditionally, realtors use the MLS (Multiple Listing Service) to market their listings or find listings for their clients to see.
When they choose not to use the MLS, this is considered “off-market.” The realtor uses other means to advertise their listing to their network and find highly qualified buyers. Only buyers who are privy to these means have access to the listing.
Why You Should Consider Buying & Selling Off-Market
There are several advantages to buying and selling off-market that can secure you the home of your dreams or a better sale than you expected. Here are some of the reasons to consider this option.
1. Maintain Your Privacy
Perhaps you don’t want a glaring “for sale” sign on the front yard for all your neighbours to see. When you list your home off-market, there’s no need for a sign on the yard. No one in your community has to know your home is listed or that you’re moving. Your privacy is protected.
2. Control Who Visits Your Home
Our homes are very personal to us and our families. Listing your property on the MLS opens it up to be viewed and scrutinized by every buyer or browser out there. Plus, you don’t know who will come through your home during an open house. Listing off-market allows you to control who has access to your property.
3. Test the Market
Some sellers will use the off-market strategy as an experiment for their listing. By sharing the listing with a smaller network, you can get a sense of how it will be received by a larger crowd. If you don’t generate enough interest or there are issues with your price, you can address these things before finally moving your property to the MLS.
4. Enjoy Less Competition
Buyers can also benefit from pursuing off-market listings. Generally, there are fewer buyers in this arena because fewer people are made aware of the listing. As a buyer, you are only competing against people who are also part of the smaller, more private network, giving you a better chance of having your offer accepted.
Are You Interested in Buying or Selling a Property Off-Market?
Buying and selling off-market comes with many advantages, but it also requires the expertise of a realtor who has experience in this exclusive sector.
The Suzy Goldstein Team has a long history of satisfied clients and we would be honoured to help you fulfill your buying or selling goals. See our SG Collection to learn more about our off-market opportunities.