I wanted to give you an example of a situation where it's better to sell a property off-market. Take my current listing that's under contract for example...
There's three interesting aspects about this home. There's actually two different units, but it's not permitted as a duplex. So I wouldn't be able to list it on the MLS as such. But it does have a mother-in-law suite with two separate driveways.
The second aspect is that there's tenants in place for a few months to come and just makes the transaction a little bit more sticky.
The third aspect is this property is located in what I like to call an opportunity zone right in between downtown and Park Circle. So you've still got developing apartments and breweries half a mile away, but 100 yards down the street there's a strip club, so it might not be the best place for a family.
With those three aspects in mind, It was most efficient to leverage my relationship with investors willing to pay a premium for off market income producing properties in order to not compete against everyone on the MLS.
It really was a win-win situation because he got an income producing property and my client got a premium for his property without disrupting the tenants. This situation displays that some transactions call for critical thinking and quiet execution.
Watch our Lively Charleston episode on selling properties off-market!
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