It's true. Homes are selling at a premium price without being publicly listed in the multiple listing service. Often with multiple offers.
But is off-market actually OFF the market?
Not at all. These off-market homes are being marketed in today's real estate environment under today's guidelines to active buyers.
In 2022 and 2023, Dana Rice Group leveraged private placement, or what we call the "Only on Compass
" option, to buy or sell 1-in-10 properties. And in certain neighborhoods, we transacted nearly 1-in-4 of our listings "Only on Compass."
On the Compass platform, following the guidelines of the National Association of Realtors, real estate agents may market any "office exclusive" listings to agents within the same brokerage.
And while that's considered "off-market" in terms of public-facing websites (like Zillow or Redfin), the exposure on the Compass platform as the #1 brokerage by market share in the Washington region is yielding fantastic options for both buyers and sellers.
Don't get me wrong - we love the big-deal, open house, sign-in-the-yard event that makes Dana Rice Group a well-known entity all over town.
But when directed by the seller to market a property "Only on Compass" to meet their specific needs and requirements. That's just as delightful for us.
PS - Our B-CC High School intern Ari Snyder is wrapping up his senior year. See Ari's article below about a crowd-favorite: Westbrook Carnival. Thanks Ari for being a part of Dana Rice Group. Good luck in college next school year!