Getting your property listed on the multiple listing service (MLS) or popular sites such as Zillow, Trulia, Redfin, Remax or HomeFinder can be a great way of finding buyers. However, another option is to post on off market platforms or use other “off market methods”. Sometimes referred to as pocket listings, off market properties are homes that owners want to sell without advertising them on the open market.
A Few Benefits to Selling Your Home Off the Market
Before we look at where to post off market properties, let us consider some of the benefits of selling a house off market:
- Privacy – This is one of the main reasons why property owners avoid advertising openly. The seller might be going through a financial problem or divorce that they don’t want to be publicized. Or they might want to remain anonymous due to the nature of their business.
- Reduce agent commissions – Since a non-MLS property listing won’t require extensive advertising or marketing, the real estate agent has less work. This means sellers can negotiate a lower commission.
- Less foot traffic – Many property owners don’t want all the attention that results from an open market listing. Selling off the market allows them to avoid the constant open houses and showings.
- Create a sense of exclusivity – Off market listings could create an impression of exclusivity; that the home is a secret only known to a few. This could give the seller an advantage on the negotiation table.
- Gauge interest – At times, property owners might be unsure about selling a house. Posting an off market listing is a great way to test the waters before advertising in the open market.
How and Where to Sell Your Off Market Property
So, where to post off market properties for sale? What are some “off market methods” that you can try?
Real estate websites
The best website for off market properties is the Mashvisor Property Marketplace. Listing on this site is free and allows you to reach thousands of agents, real estate investors, and other serious buyers. You can post a wide range of off market real estate, even short sale properties.
To add your property, visit the Mashvisor Property Marketplace and click “Create a Listing.”
Step 1:
Step 2:
You will then be prompted to add some information about the home for sale such as:
Step 3:
- Street Address
- State
- City
- Zipcode
- Status (you’ll have a few options but go for “off market”)
- Property Type
- Price
- Number of Beds and Baths
- Listing Info (Non-MLS, Needs Repairs, Tenant Occupied)
The great thing about the Mashvisor Property Marketplace is that it will automatically generate a ton of key metrics for your off market home using local comps. That way, real estate investors will be able to see the kind of returns your property will bring them. This is sure to garner even more interest for your off market home.
Related: 7 Real Estate Investor Websites to Use in 2020
Direct mail
Direct mail is one of the most effective strategies for selling off market properties. As the name suggests, direct mail involves sending messages directly to people who might be looking for properties on sale. This mail could be in the form of handwritten letters, typed letters, postcards, or a combination of these.
For best results, make sure your direct mail contains several photos from inside and outside the home. Don’t forget to include a brief description of the property (be sure to mention it’s off market to generate interest!), as well as the surrounding area. Timing is also very crucial for the success of direct mail. Since people usually move in the summer months, you could send your postcard or letter during spring. To encourage potential buyers to act fast, create a sense of urgency in your direct mail campaigns. For example, you could mention that the property is ‘move-in ready’.
Related: When Is the Best Time to Sell a House?
Craigslist
Another great place where to post off market properties for sale is on Craigslist. Getting your home listed on Craigslist is very easy. Just visit craigslist.org and click on ‘create a posting’. You can then follow the prompts to add relevant information about your property. In the ‘category’ section, select ‘real estate – by owner’. Your description should include all the details about your home such as square feet, year built, number of bathrooms, number of bedrooms, and location. Don’t forget to mention the improvements made to the home recently. Use keywords like ‘exquisite’, ‘elegant’, ‘brand new’, ‘extra large’, ‘well maintained’, and ‘spacious’ to optimize your description. Remember to include a few quality photos showing different spaces of the home. Finally, be sure to leave your email address so potential buyers can reach you.
Networks
When it comes to the real estate business, relationships are very important. One of the most effective ways to reach potential buyers is by networking with relevant people. These could be real estate investors, agents, brokers, attorneys, contractors, or property managers. You can check your local real estate investment association (REIA) or search social media sites to find groups meeting around you. Once you’ve joined and built a rapport in such groups, you can then post your off market property for sale on their online platforms such as Facebook, LinkedIn, and Twitter.
Private auction
You can sell your house through an auction conducted by a real estate agent or third-party auction company on your behalf. The auction could be either a reserve auction, minimum bid auction, or absolute auction. Potential buyers are usually required to register with a small deposit in order to participate. On the set date, buyers will congregate and bid against each other until the auctioneer announces the winner. A private auction can be conducted in a physical location or an online platform. Popular auction sites include Williams and Williams, Xome.com, Auction.com, and Huzbu.com. Keep in mind that auctioneers usually take a percentage of the sale price as their commission.
Conclusion
Wondering where to post off market properties for sale? You can sell your off market properties in any of the places listed above. Explore the different options and choose a strategy that works best for you.
Related: Selling a Rental Property Online: A Step-by-Step Guide