When selling your home, its understandable to assume that the best marketing strategy is to reach as large an audience as possible. After all, leveraging the power of real estate portals and publications certainly has its benefits. However, sometimes its better to go the opposite direction. Off-market listings, also known as pocket listings, can be an effective way to market a property by word-of-mouth and keep it out of the public eye. Here are a few reasons why this might be the right choice for you.
Privacy
For many sellers, particularly in the luxury sector, maintaining privacy is a top priority. If youre hesitant to have photos of your living space blasted across the internet for the world to see, then an off-market listing could be the way to go. This ensures that only qualified buyers see the inside of your home and, for high-profile sellers, it can help to keep your name out of the media.
Exclusivity
Off-market listings have an air of exclusivity that can impact how a prospective buyer views them. Because its not available for the public to see, it furthers the impression that this is a truly special property thats only being marketed to those in the know.
Set the Tone
Off-market listings can also send an important message and put the seller into the drivers seat. To potential buyers, it suggests that the owner doesnt necessarily have to sell, but is willing to for the right price. This helps to encourage a competitive offer if they hope to buy a home thats not available on the open market.
Keep It Fresh
When a home sits on the market for an extended period, buyers might start to think that theres something wrong with it or that its overpriced. However, you never have to worry about this with an off-marketing listing. Thats why this can also be a beneficial way to test the waters at a certain price point with no downside.
Published with permission from RISMedia.
