If you have been presented with the proposal for an “Off-Market” transaction, as defined as a transaction that is not presently listed on the multiple listing service(s), you, as either Buyer or Seller, must weigh the pluses and minuses of such a transaction. In this article you will find insights to help carefully consider this.
"Can negotiating an Off-Market deal benefit the owner, the buyer, the agent, or all parties equally? "
In today’s “seller’s market,” the Off-Market transaction becomes increasingly utilized as available inventory is scarce. Therefore, when an Agent finds an owner considering selling a property, that Agent, who generally has one or more clients looking for property, will encourage his Buyer to make an offer. Conversely, if an Agent cannot find a listed property for their client, they may advice their Buyer to entice an owner into selling by making an Off Market offer to purchase. These are just a couple scenarios that bring about Off-Market negotiations. However, can negotiating an Off-Market deal benefit the owner, the buyer, the agent, or all parties equally? I believe the answer is “yes” to all parties, if handled properly and professionally.
Therefore, let us briefly explore this type of transaction from the Seller’s Perspective to determine if this situation is advantageous.
Now, let us consider the same scenario from the Buyer’s perspective, when making an offer on an unlisted property.
Lastly, from both Buyer’s and Seller’s perspective, Agent representation also needs to be addressed.
Contact Christopher today to discuss your unique scenario and how we can help you whether you are buying or Selling.
Christopher J. Destino, SIOR, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.