Popular on Amzeal
- Elixia Announces New Hire Sam Searcy as Chief Commercial Officer
- New "Perfect Home Finder" Real Estate Program Huge Hit With Central OH Home Buyers!
- 3 Lessons Learned From The Presley Trust
- The Heavenly Collection of Phygital Error Coinage by Mylathecos™ Upcoming Media And Museum Presence
- Central Ohio Realtor Introduces New Marketing For Better Prices In Difficult Market
- Accendo's Talent Intelligence Platform Secures Pre-Series A Funding from The Hive SEA and OSK Ventures
- Phoreus Biotech launches BAPtofect®-25 peptide transfection reagent
- Luxury Presence Announces New Chief Customer Officer
- Guaranteed Full Price Home Sale in Phoenix West Valley! Sell Your House For Top Dollar Without The Hassle of Listing or Showings!
- "Not Going Quietly" Wins Cinema for Peace Award for Political Film of the Year 2022 in Berlin
Similar on Amzeal
- RE/MAX Signature Earns Top Regional Award
- Cigent Patents Technology that Ensures Complete Erasure of Storage Drives and Endpoint Devices
- Geneva Worldwide, a Leading Language Service Company, Celebrates 120 Years in Business
- Bringing Cutting-Edge Robots to the Food Service Industry: OrionStar USA Showcases 'Lucki' at NAFEM
- Exhibiting Our Robot Lucki at the Georgia Restaurant Association Taste of Georgia Event 2023
- Keyhole Software Ranked Top Software Development and IT Services Company in Kansas City by Clutch
- PEI Launches Revamped Guide on Working with a Managed Services Provider
- EZDorms Research Releases 2023 Survey Results
- Expert tip: Private Jet Engine Maintenance Program - Pros and Cons for Preowned Jet Buyers
- Gaming and entertainment company Spinrack Corporation, appoints Jesse Norton as Chief Marketing Officer
Dropoffer Inc. Forecasts Increase In Off-Market Sales for 2023
Amzeal News/10507679
The off-market trend is lead by privacy and lack of inventory that fit clients needs
SALT LAKE CITY - Amzeal -- Drop Offer, Inc., a Real Estate technology company that allows users to find any home and submit an offer, forecasts a strong increase in off-market sales in the coming year. The trend of homeowners never listing their home on the Multiple Listings Service (MLS) happens more often than many know of and looks to be increasing as homeowner awareness and new technology make it more possible. According to the National Association of Realtors (NAR), off-market transactions are at the highest they have been since 2001.
"Off-market deals are an often overlooked part of the real estate business," said Kimani Clark, Co-Founder of Drop Offer, Inc. "The data shows that the majority of what buyers want from their agent is to help find them the perfect home. That means digging through the off-market and sourcing those houses. If an agent has the right tools to find those homes, their clients will value that effort more than anything else."
According to the National Association of Realtors®' 2022 Profile of Home Buyers and Sellers, only 86% of home sales hit the Multiple Listing Service in 2022. That leaves 14% using alternatives to sell their home. There are likely even more and are inputted into the MLS for statistical purposes only. Many times these transactions happen without anyone knowing. For example, Steph Curry sold his Silicon Valley Home for $31.2 million in the Fall of 2021, however it only recently surfaced and made the news in the Fall of 2022, allowing privacy for the high-profile client.
More on Amzeal News
"As of November 2022, there were 751k listings in the US. Assuming that number is only 86% of the total listings, this leaves over 100k sellers looking to sell their homes that are not currently on the open market or on a MLS service," explains Greg Burns, Co-Founder of DropOffer. "DropOffer helps homeowners looking to sell their home in a more private and convenient manner while helping buyers find their perfect home."
The 751k homes on market represent less than 1% of the homes in the U.S. With this constraint, agents are continuously looking for ways to find new inventory, for their clients, and themselves. High-profile and high-earning real estate agent Josh Flagg, known for his role in Bravo's Million Dollar Listing, bought his recent home for $9.2 million, in an off-market transaction. After courting the owners, he was able to put a deal together for the Beverly Hills home.
Many other high end areas have very active off markets such as the Hamptons, or New York City, where The Wall Street Journal reported there was a total of $188 million in off-market sales in the city in 2021. One New York City agent stated off-market transactions were 40% of his business.
Below are several notable off-market deals around the country that took place this year:
Behind the prediction
More on Amzeal News
DropOffer expects off-market volume to rise by 3.0% on average in 2023. Homeowners are more aware than ever to selling without ever having to list their home traditionally thanks to ibuyers spending hundreds of millions on marketing and educating consumers. Although 98% of the homeowners were often not pleased with the offered prices from ibuyers they did prefer the privacy, convenience and speed of the transaction. We also believe that inventory will tighten up again towards the later part of the year as builders slow and buyer demand will increase.
To learn more about buying, selling or dropping an offer, visit dropoffer.com or download the app in the App Store.
About DropOffer:
DropOffer is the nation's first automated "Off-Market" real estate-focused app expanding consumer home search options by helping turn the Off-Market ON. The DropOffer app empowers top-performing agents and their clients to submit offers automatically to off-market homeowners using real-time data. DropOffer's patent-pending technology allows users to find any home not currently on the market and with just a click of a button, gain access to property information, data-backed home valuations, and the ability to submit offers directly to homeowners. For more information, visit https://dropoffer.com/.
"Off-market deals are an often overlooked part of the real estate business," said Kimani Clark, Co-Founder of Drop Offer, Inc. "The data shows that the majority of what buyers want from their agent is to help find them the perfect home. That means digging through the off-market and sourcing those houses. If an agent has the right tools to find those homes, their clients will value that effort more than anything else."
According to the National Association of Realtors®' 2022 Profile of Home Buyers and Sellers, only 86% of home sales hit the Multiple Listing Service in 2022. That leaves 14% using alternatives to sell their home. There are likely even more and are inputted into the MLS for statistical purposes only. Many times these transactions happen without anyone knowing. For example, Steph Curry sold his Silicon Valley Home for $31.2 million in the Fall of 2021, however it only recently surfaced and made the news in the Fall of 2022, allowing privacy for the high-profile client.
More on Amzeal News
- Exhibiting Our Robot Lucki at the Georgia Restaurant Association Taste of Georgia Event 2023
- Keyhole Software Ranked Top Software Development and IT Services Company in Kansas City by Clutch
- PEI Launches Revamped Guide on Working with a Managed Services Provider
- EZDorms Research Releases 2023 Survey Results
- Levinger Regens Announces New Initiative to Improve Hydrogen Carbon Intensity
"As of November 2022, there were 751k listings in the US. Assuming that number is only 86% of the total listings, this leaves over 100k sellers looking to sell their homes that are not currently on the open market or on a MLS service," explains Greg Burns, Co-Founder of DropOffer. "DropOffer helps homeowners looking to sell their home in a more private and convenient manner while helping buyers find their perfect home."
The 751k homes on market represent less than 1% of the homes in the U.S. With this constraint, agents are continuously looking for ways to find new inventory, for their clients, and themselves. High-profile and high-earning real estate agent Josh Flagg, known for his role in Bravo's Million Dollar Listing, bought his recent home for $9.2 million, in an off-market transaction. After courting the owners, he was able to put a deal together for the Beverly Hills home.
Many other high end areas have very active off markets such as the Hamptons, or New York City, where The Wall Street Journal reported there was a total of $188 million in off-market sales in the city in 2021. One New York City agent stated off-market transactions were 40% of his business.
Below are several notable off-market deals around the country that took place this year:
- Montecito, California - $36 million. Seller: Ellen Degenerous
- New York City residence - $10 million. Seller: Marjorie Gubelmann
- Malibu, California - $45 million. Seller: Skincare businesswoman, Victoria Jackson
- Montecito, California -$9.1 million. Seller: Singer, Ariana Grande
- Montecito, California - a total of $17 million. Seller: Oprah Winfrey sold 2 homes
Behind the prediction
More on Amzeal News
- Eve Wellness, a SF Breast Ultrasound Screening Clinic supports the recent FDA updates to the guidelines to inform women about breast density
- Expert tip: Private Jet Engine Maintenance Program - Pros and Cons for Preowned Jet Buyers
- Gaming and entertainment company Spinrack Corporation, appoints Jesse Norton as Chief Marketing Officer
- iGUIDE and Seek Now Have Partnered with AMS and VITALITY to Bring a Comprehensive Solution to Facility Managers
- .Store Domains launches Elevate.store – a free-to-use platform for online sellers with deals on business tools
DropOffer expects off-market volume to rise by 3.0% on average in 2023. Homeowners are more aware than ever to selling without ever having to list their home traditionally thanks to ibuyers spending hundreds of millions on marketing and educating consumers. Although 98% of the homeowners were often not pleased with the offered prices from ibuyers they did prefer the privacy, convenience and speed of the transaction. We also believe that inventory will tighten up again towards the later part of the year as builders slow and buyer demand will increase.
To learn more about buying, selling or dropping an offer, visit dropoffer.com or download the app in the App Store.
About DropOffer:
DropOffer is the nation's first automated "Off-Market" real estate-focused app expanding consumer home search options by helping turn the Off-Market ON. The DropOffer app empowers top-performing agents and their clients to submit offers automatically to off-market homeowners using real-time data. DropOffer's patent-pending technology allows users to find any home not currently on the market and with just a click of a button, gain access to property information, data-backed home valuations, and the ability to submit offers directly to homeowners. For more information, visit https://dropoffer.com/.
Source: DropOffer
0 Comments
Latest on Amzeal News
- The Past Reflects A Future - Daniel Imperato 2024 Is Back Again. Which Party?
- Fridge Art Fair New York City May 2023
- Empowering SMEs: Innervation's Supply Chain Finance Solutions for Diverse Business Growth
- AdvisorVault Partners With Compliant Workspace to Help FINRA Firms Achieve 17a-4 Compliance on Microsoft 365
- Why Do Canada's Privacy Commissioners Demand that Companies Train Employees on Security and Privacy?
- Luxury Presence Among HousingWire's 2023 Tech100 Real Estate Winners
- Axiomtek Debut New NVIDIA Jetson Orin Platform – AIE900A-AO & AIE100A-ONX At Embedded World 2023
- The New Real Estate "Just Looking" Program Is A Big Hit With Atlanta Area Residents!
- Introducing Music360, the New Social Music Streaming App
- Marsha Gay Reynolds Shares Insights on In-Home Care Post-Pandemic
- Your Housing Group boosts Field Force Efficiency and Resident Experience with FLS
- IOTech announces a new release of Edge Xrt, its high performance data connectivity solution for industrial systems
- Barcoding, Inc. Showcases Freddie AGV (Automated Guided Vehicle) Robot at Promat 2023
- ANIMAL RIGHTS PROTEST at The Animal Foundation of Las Vegas
- Vigil Family Foundation (VFF) Offers Northern New Mexico Students Renewable Energy Scholarships
- Graphis to Publish Kit Hinrichs' New Book: Narrative Design
- Looming ban threats of TikTok Causes Uncertainty For Creators - New Platform Brings Hope
- The expansion continues at Right Cars Global Rentals as it officially announces its opening in the Dominican Republic
- Critical Component of The Restorative Soils Program™ Patented!
- King Me: Loving and Leading in a Wounding World Releases March 15, 2023