90-95% of all homes are sold on the open market…
The seller is opting to maximize their exposure and get as much money as possible for their property. This is a good thing, however, some sellers prefer to test the ‘off market’ approach as well.
This is when they’re open to selling but prefer to not have public open houses or a sign in the yard. They also avoid having loads of people tracking through their home.
They’ll consider offers that are presented to them and will sell if it makes sense.
As a seller: it can be good if you prefer a quieter, private sale.
As a buyer: it can be good because you aren’t competing against other buyers vying for the same home on the open market.
There’s nothing magical about off-market properties, but I’ve always thought if we can strike a deal and both parties are happy, then we’ve got a win.