Definition
Off-Market Sale
Also called: pocket listing
An off-market sale is one completed without listing the property on the MLS — sold directly to a buyer, through a marketplace, or via an agent's private network. Sellers trade maximum exposure for speed, privacy, and convenience.
Off-market fits situations where a listing works poorly: houses in rough condition, tenants in place, estates avoiding public showings, sellers on tight timelines. The risk is pricing in the dark — without the market's feedback, a single buyer's offer has no benchmark.
The fix is manufactured competition: multiple qualified buyers bidding on the same off-market property recreates the price discovery a listing provides, without the listing. That is, in one sentence, the argument for a matching marketplace.
Where this matters
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