Off-market sales spiking in high-end sector
Do you know how to keep a secret? That skill is becoming ever more popular within San Francisco’s high-end real estate market, according to the San Francisco Chronicle. The idea of a secondary secret market is nothing new – there are sellers who opt for the more discreet idea of what’s known as a pocket listing rather than putting their properties on the Multiple Listing Service. This has been particularly prevalent amongst high-end sellers, many of whom value their privacy.
However, these days we’re seeing even more of a more subtle marketing approach. A source asserted to the Chron that off-market deals now comprise more than a quarter of all San Francisco sales. “Off-market sales are on the rise, and there are substantially more this year than in years past,” Vanguard Properties agent Michael Bellings told the paper. “It’s coming to the point where there is such a presence for ‘off-market’ deals that a second market is essentially being created.”
If you’re considering this route, I highly recommend you read Paragon’s Pros and Cons of Off-MLS Pocket Listings. It outlines the three main reasons for trying to sell your home off-MLS:
1) You highly value confidentiality and privacy and do not wish to make it public knowledge that you are selling your property.
2) You are not interested in making an effort in the process of selling the property. You may not even need to sell – but if you receive a satisfactory as-is offer, you will.
3) You are of the opinion that you will get the highest sales price through this method since buyers who do learn of your property will believe they are getting a special shot at buying and thus step up aggressively.
Want more info? Get in touch!
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com