You have all probably heard the buzz of an off -market sale in your neighborhood. When all seems calm, a moving truck pulls up and out goes the old resident and in moves the new homeowner. These happen so quickly that neighbors are sometimes stunned. Others are left frustrated that they weren’t aware such a home was being sold.
These off-market occurrences or “pocket” listings are quite common around here, actually. It’s almost a secondary market, and fortunately for us here at Dwell Realtors, we make a lot of transactions happen through this off-market phenomenon. Even when it comes to homes outside our Dwell family, we are very aware of what’s occurring on all fronts. When a market has an influx of buyers and a demand for more inventory, sellers like to test the market and seek a certain price, rather than taking a spin on the sometimes wild MLS market. In an off-market situation, the seller has a signed listing agreement with a real estate agent but hasn’t listed it on MLS.
Many of our buyers ask us why a seller would consider an off market sale instead of getting all the visibility of a traditional sale. The answer to that varies wildly. Some sellers are just looking for privacy, others have identified their next home and need a quick sale while others have more personal reasons.
Based on the reason, we see benefits to pocket listings in some cases for both sellers and buyers. As a Realtor, we are more than just an advisor on your home, we become a trusted member of your extended family.
Once we identify that a purchase or sale of your home would work best in an off-market situation, we strategize to entice the most interest or to put together your best offer.
Through word-of-mouth, a private broker’s tour or small open house, an agent can spread the word about an off-market opportunity. Through maintaining close contacts with our clients and friends, we are made aware of a lot of underground activity. Right now, we are aware of a hand full of off-market opportunities. That’s a large number of homes that are ready for purchase and not shared with the masses.
And that’s not even in the scope of those we know are going on the main market. We are currently featuring a few homes, too.
We just put into contract two great homes. 757 Elm Street, #8, San Carlos, a top floor, 2 bedroom, 1 bathroom unit with vaulted ceilings in the living room and sliding glass doors leading out to a relaxing patio. Additionally, underground assigned parking for two spots and in-unit laundry made this condo very desirable. One of only 14 units in the complex and just steps from our bustling San Carlos downtown corridor. This condo is being offered at $775,000.
Also in contract is a great home at 179 San Diego Avenue in Daly City. This North County gem is close to BART and freeways. With a fenced in backyard, this 3 bedroom, 2.5 bath is already gone… A buyer came in with a strong offer just days after coming on the MLS!
But rest assured, more are coming on the market. We are almost ready to list a home at 1521 Cedar Street in San Carlos, a 5 bedroom 3 & 1/2 stunner and another home in the desirable Brentwood neighborhood of South San Francisco on Sherwood Way.
As always, contact us if you might be thinking of making a move. Whether on or off market, we are happy to assist you with your needs. Your dream home is out there, and we are poised to find it for you!