Buying A Home Off Market
I just got one of my clients into contract on house that never was advertised, never was on MLS, never even had a sign out in front of it. In other words, almost no one knew the house was for sale. How did I know about it?
I knew the agent who represented the seller, and she knew that I had a client who was interested in that specific type of house. We both work at Frank Howard Allen, and there is a lot of emphasis on internal networking and marketing there.
It’s amazing how much business gets done on the floor of the office. Agents in the office hear about what is coming up formally at a monthly meeting, and in weekly sales meetings. Informally, smart agents talk to each other all of the time, know who is doing what, and network their way into a lot of sales.
So how often does it happen? More frequently than you think. Our office, in Greenbrae,CA, averages around 15Â sales a week. It seems like every couple of weeks, at least one of those is off market, and most of the time, the transaction is between two agents in the office.
In a real estate market like Marin County, where inventory is generally limited and selection narrow, that can be a huge asset for buyers. We think it is one the best reasons to work for a large broker like Frank Howard Allen. In fact, we’re the largest brokerage in Marin, by a long shot.
It’s also one more reason to use a good real estate agent in your search - one who is active, does a lot of business, and has a lot of contacts.
Some will say it’s a disservice to the seller, and more on that tomorrow. But think about it this way: in a market where homes are sitting for days unsold, and people are trying all kinds of stunts to sell them, this seller got the house into contract, at very close to the asking price (higher than the market average), in a matter of days.
I have a couple of clients right now who would LOVE that. Maybe we should pull the homes off market….
