How Off-Market Buyers are Helping Homeowners

With a record 23.7% higher sales in January 2021, America’s home listing prices rapidly increased. However, even with hyperinflation, sellers and real estate agents are seeing a drop in demand, and that will cause prices to drop.

An extremely competitive market did enable homeowners to sell at huge valuations. However, industry professionals are noticing that off-market buyers are now what’s helping homeowners get the best possible deal on their homes.

Homeowners can confidently sell their properties to off-market buyers using SaaS programs and marketplace platforms. Not only are buyers offering cash for homes, but they also reduce costs associated with realtors or agents.

How Off-Market Buyers Help Sellers

Here are some ways off-market buyers help sellers get the best bang for their buck.

1. Off-Market Buyers Maintain Privacy

Not every homeowner wants to advertise their property’s availability. Off-market buyers save homeowners from the pain and additional hassle of open houses. They also reduce the number of showings, which minimizes crime and break-ins related to house sales. If homeowners choose not to advertise their homes to the general public, they can mitigate their robbery, theft, or illicit activity risks. Best of all, they can rest easier knowing their home’s listing is in good hands.

2. Off-Market Buyers Can Test Pricing

Online buying platforms reduce the pressure of proper market pricing by allowing homeowners to list their properties at any price. This encourages off-market buyers to provide cash quotes instantly. Buyer views, inquiries, and submissions help sellers make the right listing decisions. These insights are helpful whether listing on the MLS or selling to an off-market buyer.

3. Off-Market Buyers May Provide Hotter Leads

One of the off-market buyers’ best and most lucrative aspects is their readiness to purchase immediately — and in cash. Nearly 36,000 homes were sold for money in 2020 alone.

When working with a private and highly qualified pool of leads, off-market buyers purchase homes quickly, quietly, and with cash bids. If recent numbers are believed, off-market buyers may even pay more than the homeowner’s current asking price. In 2020, buyers paid 34% more than the seller’s asking price, with or without a bidding war.

4. Off-Market Buyers Purchase Homes As-Is

Repairs and renovations are some of the most expensive aspects of selling a home. They are more expensive post-COVID-19 due to supply chain shutdowns. Most homeowners make roughly 2.2 renovations before listing them on the market. These upfront costs may set owners back several thousand dollars. Moreover, these remodeling efforts rarely equate to a high ROI, sometimes only recouping a small percentage of overhead, debt, and time lost.

Off-market buyers make it advantageous to sell a home as-is without bothering with face-lifts, repairs, or another pre-market curb appeal. Online platforms allow sellers to list their homes “as-is” to a pool of buyers, who will then make offers on the recorded value of a home. With more buyers bidding virtually, sales prices may be higher than a Realtor sale.

5. Off-Market Homebuyers Can Move Faster

Any buying offers made through realtors or the MLS can take a lot of time to be vetted and finalized. In contrast, an off-market buyer has the flexibility and speed to make an offer immediately. Plus, homeowners can filter through their favorite offers without stressing over the additional costs of an agent.

6. Multiple Cash Offers

Platforms like Sundae.com have thousands of off-market buyers ready to offer cash anytime. Off-market buyers help homeowners sell their homes as-is, and Sundae’s marketplace helps homeowners get the best price from investors placing competing bids. Not only does this dramatically speed up the selling process, but it can also save on commission costs.

Add More to Your Bottom Line

When the time comes to sell, be sure to explore all options. For some homeowners, trading on the MLS might be the best choice. Others looking to sell fast will find that an off-market sale makes more sense. It avoids the costs and hassle of pre-sale renovations and realtor fees.

Remember, not all Off-Market buyers are the same, so make sure that you read their online reviews to ensure they are litigable.