Selling Your Home Off Market in Greater Philadelphia

Is Selling Your Home Off Market Right for You?

Selling your home off market can be a great option for some Greater Philadelphia homeowners. Off market listings are often called office exclusives or pocket listings.  It’s a way to quickly and easily sell a home without going through the traditional listing process. But is it really the best option for you? Let’s take a look at some of the pros and cons of selling off market in Philadelphia.

Pros of Selling Off Market in Philadelphia

One of the biggest advantages of selling your home off market is that you can avoid paying high real estate commission fees, which are typically 6% of the sale price. If you’re looking to maximize your profit margin, this can be an attractive option as agents may be able to sell your home for a lower amount. Additionally, if you have little time or energy to devote to marketing your property, this could be an ideal solution as well. By opting to list your home off-market in Philadelphia, you could potentially save yourself a lot of time and hassle in finding potential buyers and negotiating contracts.

Another advantage is that by not listing publicly, you can often find only the serious buyers faster. This is because many potential buyers may already know about the property before it goes on the formal real estate market—which means they may already be ready to make an offer right away! This could potentially save you weeks or even months when it comes to closing on the sale of your home.

During the pandemic there was a rise in off market listings likely because sellers didn’t want a ton of people in their homes.  Some sellers simply don’t want tons of people in their home.

The primary advantage of an off-market listing is that it allows sellers to keep their reasons for selling and their price expectations confidential. This can be especially helpful if the seller is dealing with a sensitive situation, such as divorce or death in the family, or if they are looking to avoid a bidding war over their property.  Celebrities often prefer off market listings to keep their locations private.

Cons of Selling Off Market in Philadelphia

On the flip side, there are also some drawbacks to selling off-market in Greater Philadelphia. For instance, if you’re not using a real estate agent or broker, it may be difficult for potential buyers to find out about your property since it isn’t listed publicly on an MLS. This means that you will need to put extra effort into marketing and advertising your home—which can be hard work for someone who isn’t experienced with such activities! Additionally, if you don’t have any experience negotiating contracts or dealing with legal issues related to real estate transactions, this could also be difficult without getting help from an experienced professional.

Selling Off Market Using a Revolve Philly Group Realtor

While most sellers who want to sell off market sell without the use of a Realtor, using one makes it much more effective.  At Compass, we are fortunate to have Compass Private Exclusives.  This allows us to list your home on the Compass platform while keeping it off of the MLS thus giving you the best of both worlds.  The Advantages of us listing your home as a Private Exclusive are:

• Privacy – You control over what gets marketed.
• Flexibility – Ability to make changes without it displaying on the MLS
• Quality – The listing is exposed to Compass agents and goes on our platform for potential buyers to see.  Compass agents in Greater Philadelphia work with tons of potential buyers who can find your home for their clients.
• Value – You are basically testing the market before listing your property.  There is no harm to change prices, descriptions, and anything with your listing to see what brings the most interest.  Pricing your home incorrectly on an on market listing can be deadly, but doing so on a Private Exclusive won’t hurt you at all.

Selling off market in Philadelphia can definitely have its advantages—but it isn’t necessarily right for everyone. Be sure to weigh all the pros and cons carefully before making a decision one way or another so that you can make sure that selling off-market is truly right for you and your situation. If you want to list your listing as a Compass Private Exclusive off market listing, contact us.

If you would like us to send you a list of off market listings, connect with us today.  We get tons of off market listings in Greater Philadelphia that we can send you ongoing.