The Shadow Market contains any property that is or is about to be for sale that's not listed on a public platform! You won’t be finding it on Multiple Listing Services, Zillow, Realtor.com, etc., hence the name ‘shadow’.
The Shadow Market doesn't exist with a subject home that is intended for sale, but for various reasons it is not on the open market for sale! 🏡 So it is right to refer to the Shadow Market as really Shadow Listings. I like to think of the 2 terms representing the same thing in separate stages:
➡️Shadow Market = the past and describes what has sold
➡️Shadow Listings = the present and what is available for sale.
The first example is a homeowner that is willing and able to sell their home, but is waiting for a better market to come around thinking that they will get a better price. Some refer to them as "tire kickers'', or "nervous nannies''. 💬 They talk with friends and colleagues about wanting to sell their home, but will not take the step to put the home on the market with a realtor or even for sale by owner until the situation is right for them. Sometimes the right situation finds them within their social circle and the home does sell! 💸
When the owner of a home passes and no one in the receiving family wants ownership, or if there isn't a family member to inherit ownership, then the home will be sold! 🏡 Executors, for the most part, are not realtors and some don't care for the difficulties that come along with a sale of a home. So in many instances, people close to the family or the house itself will find out who the Executor of the Estate is and make offers to purchase the home. The Executor puts the deal together and the home is sold without ever hitting the open market. Executors also have relationships with Brokers and realtors and at times will be proactive and reach out to see if there are any potential buyers that will purchase the home "as is" and deals are put together that way as well. 💸
Realtors are a great source to find homes that aren't on the open market! 🏡 Sellers consult their realtors about repairs, timing of the market, etc before putting their home on the open market. The realtors know about these homes and with the permission of the owners, will discuss the homes with other realtors to find a buyer match. There are instances where sellers do not want their home on the open market for privacy concerns. These homes are only sold by word of mouth. In today's market of tight inventory, a lot of homes are sold through word of mouth! 💸
Curious to know more? Contact The Saunders Team!
☎️ 706-577-8562, 706-224-8215, & 706-653-1400
📧 gbsaunders3@gmail.com, kristinalmoore@icloud.com
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