What is an 'off-market' listing?
Updated: Aug 28
Listing your property off-market simply means putting your property up for sale but not listing it on portals such as Trade Me, Real Estate, One Roof and others. The property is listed exclusively by an agency and promoted through the agency’s networks, which can include an exclusive list of buyers subscribed to updates on all ‘off-market’ opportunities.
What are the benefits of selling off-market?
Discretion, as certain details, will not be made publicly available
No advertising cost incurred by the owner/seller/vendor
Less commitment needed from the owner/seller/vendor
Save big on marketing costs
Who is paying the commission when selling off-market?
If you choose to sell your home through a real estate agent, there are costs involved.
You pay the agent a commission fee if they sell your property. The amount of commission is generally a percentage of the selling price.
This fee is generally paid from the deposit the buyer pays your agent when the sale and purchase agreement is signed, and the remainder goes to you. The deposit is usually about 10% of the total price the buyer is offering and is held in a trust account. If the buyer’s deposit does not cover the amount of commission, you will need to pay the difference to the a gency.
Here is a list of costs you should consider when you decide to sell your home.
The Bottom Line
The real estate market is still hot in many areas of the country with more demand than inventory. Frustrated buyers who have been bid out of homes need any advantage they can get. Read more