Introduction:
Off-market real estate sales in Los Angeles are growing in popularity, particularly in the luxury real estate market. These private sales offer a discrete way for sellers to maintain their privacy and exclusivity, while giving buyers access to exclusive properties that are not publicly available. In this blog post, we'll discuss everything you need to know about off-market sales in Los Angeles, including the advantages and challenges for buyers and sellers. We'll also explain why working with an experienced real estate agent who has access to off-market listings can provide a significant advantage in this competitive market.
Advantages of Off-Market Sales for Buyers:
Off-market sales offer several advantages for buyers, including access to desirable properties that are not publicly available. This can include both low and high-end properties, potentially allowing buyers to obtain better deals and avoid bidding wars. Buyers also have the opportunity to view properties before they are publicly listed, giving them a distinct edge in their search for their dream home.
Challenges of Off-Market Sales for Buyers:
Off-market sales can present challenges for buyers who require specialized expertise to locate and negotiate these transactions. Without the proper knowledge, buyers may miss out on potential properties or pay more than necessary. That's why it's crucial to work with an experienced real estate agent who can provide insight and guidance throughout the process.
Off-Market Sales in the South Bay Area:
In the South Bay area of Manhattan Beach, Hermosa Beach, and Redondo Beach, off-market sales account for approximately 20% of all transactions. This means that 1 out of every 5 homes sold in these areas is done through an off-market sale, facilitated by specialized agents in the area. For example, the highest sale ever in Manhattan Beach on Highview Ave took place last year (2022) off-market for over $20M.
Why You Need an Experienced Real Estate Agent for Off-Market Sales:
Navigating off-market sales requires specialized expertise, making it essential to work with an experienced real estate agent who has access to off-market listings. An exclusive agent can help you locate desirable off-market properties via their outreach to owners, breakfast groups, invite-only networking spheres, etc.
Conclusion:
Off-market real estate sales in Los Angeles offer a unique opportunity for buyers and sellers in the luxury real estate market. Buyers can gain access to exclusive properties that are not publicly available, potentially allowing them to obtain better deals and avoid bidding wars.
Reach out to Jagger Kroener to learn more about how we produce more off-market sales than average (20%) for our clients's benefit.
