How Off-Market Buyers are Helping Homeowners

The seller’s market caused by COVID-19 is not going away anytime soon. With a record 23.7%, higher sales in January 2021, America’s home listing prices have rapidly increased. Within the past 12 months alone, it has grown by 14.1% according to Forbes.

An extremely competitive market has given homeowners the opportunity to sell at huge valuations. Despite the market, industry professionals are noticing that off-market buyers are actually helping homeowners get the best possible deal on their homes.

Using SaaS programs and marketplace platforms, homeowners can sell their properties to off-market buyers in confidence. 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 that 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 risks of robbery, theft, or illicit activity. Best of all, they can rest easier knowing that 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 best and most lucrative aspects of off-market buyers is their readiness to purchase immediately — and in cash. In fact, nearly 36,000 homes were sold for cash 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. Off-market buyers may even pay more than the homeowner’s current asking price if recent numbers are to be believed. In 2020, buyers paid 34% more than the seller’s asking price, with or without the presence of 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 to their home before listing it on the market. These upfront costs may set owners back several thousand dollars. What’s more, these remodeling efforts rarely equate to a high ROI, and sometimes only recoup 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 other 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 listed 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 good deal of time to be vetted and finalized. In contrast, an off-market buyer has both 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 make cash offers at any time. Off-market buyers help homeowners sell their homes as-is, and Sundae’s marketplace helps homeowners get the best price from investors placing competing offers. Not only does this dramatically speed up the selling process, but it can also save big on commission costs.

Add More to Your Bottom Line

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

Remember, not all Off-Market buyers are the same, so make sure that you read their online reviews to make sure that they are litigable for example Sundae.com reviews currently come with a 93% recommendation rate. Before making a decision, see if selling off-market will add more to your bottom line.