I know that Michael Repka, the head of our listing team, is generally opposed to selling his listings off market. However, as the head of our Buyers' team, I believe that off-market sales represent a wonderful opportunity for buyers to get a home at a price below fair market value, and a way for sellers to experience a very easy transaction without the inconvenience of showing their home to a lot of buyers.

Some sellers are willing to sell their home for considerably less than they could get on the open market for a variety of reasons. For example;

• Couples going through a divorce, or financial troubles, may not want their neighbors to know that they’re selling;
  
• People who may need to sell but want a very long rent back or, alternatively, they need a really quick sale;
  
• Others may not realize the potential price differential between an off-market sale and sale with maximum marketing effort;
  
• Someone may have led them to believe that they can get the same high price with no marketing and only a few buyers knowing about the property. 
  

Whatever the reason, these sales are often good opportunities for buyers. 

How to Find Off-Market Properties

When an agent gets an off-market listing, they often try to sell it to their own buyers first so that they can get double commission. However, if that doesn’t work, they will reach out to other top agents in the area. Thus, it is highly beneficial to work with a top-producing buyer’s agent if you’re looking for off-market buying opportunities. 

Fortunately for buyers, some listing agents will encourage sellers to accept a quick sale, even if it is for less money, because the listing agent will save the marketing effort and expense associated with a full marketing program. Plus, the listing agent will avoid risk and get their commission sooner. As the top buyer’s agent in Silicon Valley, and probably the United States, I am one of the first calls that these agents make. 

Similarly, some sellers reach out to me directly. They may not be interested in listing their property, but they are open to selling it if I have a buyer, assuming we only charge them part of the commission they would normally pay, which I am happy to do.
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In other words, sellers that are thinking about selling their home at some point down the road should let us know about it well in advance. Unlike other real estate brokerages, we never take commission from both sides of any transaction. Therefore, the economic incentives are exactly the same for us whether someone sells their home to one of my buyers off-market with no listing-side commission or if they list it with Michael and the DeLeon Listing Team. 

Opportunity for Buyers

If you are a buyer, you should reach out to me and let me know what type of property you desire. I will then share all of the appropriate off-market properties of which I am aware. Additionally, I will keep an eye out for opportunities that may suit your needs and desires.

Opportunity for Sellers

On the other hand, if you are a seller who would be open to selling your home off-market, please let me know about it. This is true whether or not you have the property listed with another listing agent. My role would be only to bring an interested buyer - under our unique structure, I do not handle listings at all.

Unfortunately, there are some listing agents who only let agents who give them a kick-back (or “referral fee”) know about their off-market properties. Therefore, you should let me know about your home directly to make sure your agent isn’t being “selective.”

If you are not working with an agent, I would be happy to represent a buyer, and you could be represented by a real estate attorney for much less than the typical listing commission. In fact, we will reimburse you for up to $3,000 in outside legal fees out of our commission.

Conclusion 

Purchasing a home off-market is only one of many ways to get a very good deal on a property. Please reach out to me so that we can discuss all of the different possibilities.