There are many considerations when it comes to placing a property on the market, but in recent times how it is placed has become more of a priority. Since the passing of legislation regarding buyer commissions on the residential side, it seems like the "off market" listing world has skyrocketed.
The "divide" which has impacted our political world is present in the real estate world, although in different context. It seems that more and more real estate investors take the "I only buy off-market" approach, which results in little to no bidding competition they think will favor them. The other side of the coin is that an off-market listing may not be priced in conjunction with comparable listings, which can be good or bad for a potential buyer.
Like with so many things in real estate, there are plenty of pros and cons to being a buyer or seller on market or off-market. My view is that the best way depends on the motivation of the buyer AND the seller ahead of a predetermined notion as to which way is best.
Some sellers want a bidding war while others are looking for a precise fit without alerting anyone else that the opportunity exists. I was recently asked which method is "better" between selling on or off-market. My answer was and remains, "It depends on the opportunity, case by case".
Whichever approach you choose requires plenty of research and preparation whether on the selling or buying side. It's about finding the best path to be "first in" on getting the results you are seeking!
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