That's a Wrap!

The 2025 market is wrapping up with what's been a surprisingly strong fourth-quarter finish in Piedmont, including a last-minute off-market sale that's sure to spell a Merry Christmas for us all. (Jingle bells, jingle bells, jingle all the way.)​

Although off-market sales aren't the norm, our Sellers had already purchased their replacement property and preferred not to roll the dice or wait for the Spring Market to unfold. The additional time would have also meant overlapping mortgages for several months, not to mention painting, staging, carpeting, floor refinishing, and other marketing costs they were thrilled to forego. (These costs usually start at about $50,000.)

I'll preface this story by saying that several months ago, we'd begun planning for an eventual downsizing, and set to work early last summer preparing their beautiful home (including a bathroom remodel), "just in case." As things happen, the right replacement property presented itself, and they jumped. (I'll be home for Christmas.)

Because they thought ahead and have also beautifully updated and maintained their home during their last two decades of ownership, not only was the property in excellent shape, but it was presentable and easy to show. Plus, the holiday decorations magically highlighted the home's many, MANY assets. (Deck the halls with boughs of holly.)

But the most important component to taking the road less traveled was setting a realistic number that the market would not only understand but support as well. In short, the number had to FEEL fair to both sides, while incentivizing the Sellers NOT to bring their house to the open market. (Oh, come all ye faithful.)

Pair the Sellers' desire for an expedient solution and certainty with a family that had been runners-up on six offers last year, and you've got a match made in heaven. In other words, when MOTIVATED Sellers meet MOTIVATED Buyers, all kinds of good things can happen - and do! (Joy to the world.)

However, the off-market approach isn't a recipe that works for everyone (in fact, it hardly works for anyone), but when it comes together, it can be an elegant solution for all parties involved. But here's the caveat (and it's a BIG ask), neither the Sellers nor the Buyers know where the house would have traded had it been fully exposed to the marketplace, thus, they both have to be entirely comfortable with the "what ifs?", especially when their well-meaning friends chime in with their unsolicited opinions.

That unknown is often the reason off-market deals rarely come together. Both sides need to be comfortable NOT "market testing" the home, and truth be told, that's not the way most Buyers work, especially when investing in their single-largest asset. In reality, most Buyers need affirmation from the herd. Put another way, desirability is driven by OTHER people's opinions. When only one Buyer is willing to step up, rather than seeing this as a golden opportunity, lone Buyers often wonder: "What's wrong with the house?"

On the opposite end of the equation, most Sellers want to see their house fought over, primarily because it drives the price UP! But let's be frank, there's a fair amount of ego and pride wrapped up in our homes. As a result, many Sellers set their off-market price unreasonably high, which simply doesn't equate. In a world where facts and figures are available with a quick online search, Buyers won't fork over ANY amount just because you want it; they're far too savvy for that.

But if you can avoid getting caught up in a popularity contest, if you can approach the process as a collaboration, rather than an adversarial showdown, and if you have an analytical brain that understands and appreciates real numbers (as opposed to aspirational ones), then you may be a candidate for an off-market sale. Keep in mind you'll still need to inspect, disclose, and prepare the property as you would for an on-market sale. Once having done so, and having secured a Buyer, the rest involves contracts, signatures, handshakes, actions, and goodwill. (Hark, the herald angels sing.)

That's the way an "off-market" sale becomes both an elegant solution AND a welcome gift.

'Tis the season to be jolly!

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