by Hunter Croan
on Tuesday, October 31st, 2023 at 8:51pm.
Believe it or not, the best way to find a waterfront property you'll adore isn't by scrolling through endless numbers of public listings. It might be lurking right under your nose – but you probably don't even realize it. Off-market property sales dominate the real estate game more than you might realize. When you learn how to tap into them, though, you can find the home you've always wanted – for a good price, too.
What Is an "Off-Market Property?"
When we talk about an "off-market property," we mean one that has not been listed on a multiple listing service (MLS) but is still possibly accessible to buyers. When an agent knows of sellers who do want to sell their homes but don't feel ready to list yet – whether for personal reasons, financial concerns, etc. – they can connect them with buyers who bring the right offer to the table.
In other words, these properties aren't technically on the market – but they aren't fully off it, either. They represent a larger percentage of all lake property sales than you might think. That's because, in the right situation, off-market properties can benefit sellers and buyers alike.
How Off-Market Properties Benefit Buyers & Sellers
Making a sale off the market is one of the easiest ways to buy a home; skip the stress and hassle so that you can focus on what matters most. Here's how off-market property sales can benefit you.
Buyers: The home's local county appraisal district won't hear about the sales price a buyer pays. Texas is a non-disclosure state so when the county doesn't know what you paid for it, your taxes at times can stay lower than if the sale was reported through the MLS. An unlisted property also comes with a lot less competition from other buyers. There's usually no need to go back and forth between competing offers or risk losing the property you've fallen in love with.
Sellers: Sometimes, all it takes is the right number to make a sale more attractive. Sellers can get top dollar for their properties and sell on a timeline that works for them. Plus less headaches from multiple showings and open houses.
Traditional home selling and buying tactics pale in comparison to off-market transactions. For buyers, there's no doubt about the benefits of opting for an off-market property.
When you rely on sources like Zillow or Realtor.com to find properties, you're already behind. It can take a day or longer for properties listed to show up on these sites. And even if you look for listings directly from agents' MLS feed, you're still only seeing what's actually made it to the market.
At The Lakefront Group (see our listings here), we've seen this truth firsthand. It's not rare for us to have listings that are ready to go up but already have agents and buyers lined up. We have access to these deals because we don't just do business on the lakes; we live on the lakes, and many of us have for our whole lives! By being active civic members of the local community, we're the first to hear about stunning off-market listings (and we can pass that insider knowledge onto you).
Off-Market Property Sales in Action: Lake Dunlap
A prime example of the value of off-market property sales can be seen over at Lake Dunlap. The recently fixed Dunlap Dam has brought waves of interest to the area. As this waterfront community returns to its previous glory, the demand for homes skyrockets – but inventory is still very low.
The result? Most properties in this area fly right off the market. Anyone looking to move in will be hard-pressed to find an ideal property that won't be highly sought-after. But not if you choose to contact The Lakefront Group. Around half of what sells in this area is off-market property that we manage.
Why Trust The Lakefront Group for Off-Market Properties?
No one knows the Texas lake lifestyle or the local community better than The Lakefront Group. We're proud to say that our team sells around four to five times the volume of some of our closest competitors. The vast majority of those sales involve waterfront property, but we'd wager that as much as 20-30% of them never even hit the market.
We've lived in these communities. We've swam in these waters, explored these terrains, and gotten in touch with what makes this area so special.
Sellers come to The Lakefront Group because we sell a majority of the properties on the Guadalupe Lakes. But they also come to us because they trust our expertise. Finding your dream property isn't just our mission; it's our purpose. Sign up for Lake House Alerts where you can get alerts when houses hit the market on all your favorite lakes. These alerts include some off-market and PRE-MLS listings.
Many of our clients cherish the fact that they accessed and purchased a property that no one else knew about. If you're interested in moving to Central Texas, you deserve a helping hand to guide you through the process.
Give The Lakefront Group a call at 830-253-LAKE or contact us today to get started.