Off-Market Sales and How to Find Them
More than any other year previously, I have represented buyers and sellers alike in the sales of off-market properties. An off-market property is one that is not listed in a Multiple Listing Service (MLS). Knowing and connecting with a local real estate expert can make the difference between searching and finding the right property.
I recently received a call from someone I didn't know who heard about a house that could be bought at Royal Lakes Golf and Country Club at Flowery Branch. The gentleman had just signed a contract on his home (also off-market) and needed a place to go. My friends at Royal Lakes were planning to paint and move out prior to closing. But, as luck would have it for all of us, this buyer toured the home and loved it. This one owner home had been meticulously maintained and loved. The buyer is thrilled to have a home in a neighborhood where he thought it might wouldn't happen due to the inventory shown as available in MLS.
Even in our own small Lake Lanier neighborhood where there is very little turnover, we have seen five off market sales within the past year. With the exception of one transaction, it was largely people moving within the neighborhood, as we did a few years ago when we bought our off-market lakefront cottage.
The buyers and sellers came together on these deals I describe here because I knew of a buyer or seller looking to buy or sell in the near future and made the introductions. As a native of this area, I know its people and have sold many properties a number of times over the years. Sometimes though, I find and sell properties that never find their way to the open market.
I'll share some stories as to how these happened. Sometimes it is a neighbor buying a property and other times it is a buyer finding a dream property they didn't know existed. It's very fulfilling for me to help facilitate these deals, literally seeing people's dream come true right in front of my eyes.
Several months ago we had dinner with a couple starting their life together and discussing finding 'their' forever home together. Knowing the area they like, I knew of a lakefront home that could be bought, not listed, and encouraged them to come see it. It took several months for their schedules to wind down enough to think about it. I got a text one day that they wanted to see it. I We scheduled a showing. Within two minutes of walking in the front door, I knew this would be their home. It's one of the prettiest homes I've ever seen and the sunset views are amazing.
Photo credit: Leigh Wiley
It especially warms my heart to see first time buyers find a home. This off-market sale involved a home that I sold to the sellers as a new home a few years back for them to live in while they built their dream home on Lake Lanier. These buyers had an older home under contract that the home inspection revealed had some issues. When the seller called me to tell me they were ready to sell it, my mind went into action thinking about how perfect that newer house would be for this newly married couple, ready to establish roots. The rest is history. The buyers were still in due diligence on the older home and looked at the house, now empty and ready to list. It never made it to the open market. The buyers paid more than the seller was asking and adore their new home; I'm thrilled I got to be a small part of it.
A normal and balanced market of buyers and sellers would be about five months of inventory. Since we don't see that now and haven't in most price points in quite some time, savvy buyers and sellers alike will continue to buy and sell off-market properties.
Partner/Associate Broker
Selling North Georgia Since 1988
770-540-3788
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