When selling your home, it’s 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 it’s 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.
For many sellers, particularly in the luxury sector, maintaining privacy is a top priority. If you’re 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.
Off-market listings have an air of exclusivity that can impact how a prospective buyer views them. Because it’s not available for the public to see, it furthers the impression that this is a truly special property that’s 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 driver’s seat. To potential buyers, it suggests that the owner doesn’t 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 that’s 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 there’s something wrong with it or that it’s overpriced. However, you never have to worry about this with an off-marketing listing. That’s why this can also be a beneficial way to test the waters at a certain price point with no downside.