Skip to content

Selling On-Market vs. Off-Market

Selling On-Market

Most people know about selling a house on-market. A seller will typically use the services of a real estate agent to list their house on websites like Zillow or Redfin. Sometimes they will try selling the house on their own in what is called a for-sale-by-owner listing.

However, this method requires a house to be in great shape to sell well. Potential buyers have trouble looking past certain defects, even if they are minor. And, most of these buyers are going to be using a bank to buy the house. Banks are even pickier. They will not give anyone a loan if the house isn’t habitable – if a kitchen or bathroom isn’t functioning properly, if there are holes in the ceiling, walls, or floors, etc.

Because selling on-market requires preparation, listing, showing, and then the closing process, it usually takes more than one month to sell a house.

Selling Off-Market

People don’t often know that they can sell their house off-market. This process does not require listing the house at all. Because the house is not being listed, the seller does not need to hire a real estate agent and therefore does not pay the usual 6% commission.

Instead, the seller comes to their own agreement with the buyer.

This has many advantages because of how flexible it is. The parties can agree on price, down payment, term, interest rate, timeline for closing, required condition of the house, etc. And, because there are no banks or agents involved, it is also a much faster process.

Call Now Button