How to Buy or Sell Off Market Real Estate: The 2026 Guide

Maybe you’ve been hunting for a home for months, only to watch every decent listing get multiple cash offers before you even get to see the place. Or perhaps the only homes available in your area right now will require too much work before moving in, and you'd prefer something more turnkey. You’ve heard of “off-market” homes, but you aren’t sure if they are a legitimate thing to try.

Or maybe you are on the other side: Your neighbor just sold their place quietly, without a single “For Sale” sign or open house, and you wonder if you could pull off the same thing.

Going off-market is a bit more nuanced than simply not posting your listing online, especially with major policy shifts from the National Association of Realtors (NAR) and Zillow that have changed the rules for everyone.[1][2]

Below, we’ll break down exactly what “off-market” means, who it will work for (and who should skip it), and what to do next if you decide to buy or sell a home off-market.

What "off-market" actually means

Let’s clear up the confusion right away. An “off-market” property is one that is for sale but is not listed on the multiple listing service (MLS). Because the MLS is the data source for sites like Zillow and Redfin, these homes usually won’t pop up in your standard search.

Generally, off-market properties come in two forms:

• Pocket listings (or private listings): These are marketed by an individual agent through their private network of contacts.
• Office exclusives: These are shared strictly among agents within one specific brokerage.

It’s also worth noting a common mix-up: an “off-market” property is not a synonym for FSBO (for sale by owner). While an FSBO seller might choose to stay off the MLS, these are two different concepts. “Off-market” is about where a property is listed; FSBO is about who’s representing the seller.

How common are "off-market" sales?

While there is no recent comprehensive national data on off-market deals, we can estimate that they make up about 6-8% of the total market.

For perspective, data from Bright MLS showed that nearly 8% of listings in the Mid-Atlantic region started as office exclusives, though a staggering 90% of those eventually moved to the public MLS.[3]

When you add in the 5% of homeowners who sold FSBO in 2025 (about 90% of whom never touched the MLS), you can see how we reached that number.[4] Just keep in mind that every market is different; in high-privacy luxury hubs, the percentage of off-market deals can be much larger.

Why sellers go off-market and what it costs them

In recent years, selling the home off-market has become more complicated. It’s no longer a “quieter alternative” to listing on the MLS, and you need to understand exactly what you gain and what you stand to lose.

Why sellers choose it:

• Privacy: High-profile celebrities, landlords with live-in tenants, or families navigating a messy divorce often prioritize discretion over the potential of a higher profit. 
• Convenience: The off-market path allows you to sell a home as-is, skipping the headache of staging and early-morning weekend showings.
• Testing the waters: This is a low-stakes way to test your price. If there is no interest, you avoid tarnishing the listing with a public price cut later or accumulating that dreaded “30+ days on the market” badge.
• Speed: Selling directly to a known buyer or a professional investor can significantly cut down the timeline of a traditional sale.

What sellers often don't realize:

1. The price hit

If you are considering selling off-market, here’s one thing you shouldn’t ignore: going off-market almost always costs you money. 

Zillow’s data show that off-market homes nationwide sell for an average of 1.5% less than those on the MLS.[5] In high-demand states, that gap widens significantly: to 3.7% in California and New York, and 3.4% in Massachusetts.

For the real sticker shock, look at the SFAR and RealReports SF study. It found that MLS-listed homes in San Francisco County sold for 18.6% more than those sold off-market.[6]

2. The Zillow ban

Another thing to remember are the 2025 changes regarding NAR and Zillow. NAR introduced a “delayed marketing exempt listing” that allows your agent to hold your home back from public sites like Zillow for a set window, a common move for those testing the waters off-market.

However, Zillow fought back with vengeance. Now, if you choose this delay, Zillow could permanently restrict your listing from the site.[2] Even after the delay ends and you’re ready to go public, your home may not appear on one of the largest real estate search portals in the U.S. Given that many buyers start their search there, this is a massive trade-off worth considering before going off-market.

Is off-market the right move for you as a seller?

At the end of the day, deciding whether to go the off-market route depends entirely on your personal situation. There’s no single right answer.

Going off-market may make sense if ...

You require discretion

If you want to sell an inherited property while managing complex family dynamics or have tenants you don’t want to disturb, keeping the sale private avoids additional hassle.

You already have a buyer lined up

If you only need to formalize a deal with someone already in your network, listing on the MLS is an unnecessary step that adds more stress than value.

You need more control in exchange for a lower price

The off-market path gives you a level of convenience and quiet that a traditional public sale cannot match.

Going off-market probably doesn't make sense if ...

You want to get the highest possible price

As we mentioned, simply being on the open market is often enough to drive a much higher price. If your home is in a competitive market where multiple offers are possible, you will likely leave money on the table by going off-market.

You don’t have a buyer yet

Without a public listing, you are absolutely dependent on your agent’s private contacts. If their network is limited, your home could sit without a single offer for months.

If you are considering selling your home off-market, an experienced real estate agent is the best expert to help you weigh trade-offs. Connect with a top realtor in your area through Clever to decide whether it’s worth it in your case. And, if you decide to go for it, they can tap into their network to help you find the buyer.

How buyers can find off-market homes

If you’re a buyer, the idea of finding an off-market home sounds alluring — no bidding wars, no crowded open houses, and a direct line to the seller. However, finding these properties requires significantly more effort than just opening your Zillow feed each morning.

Here’s how to find off-market homes, from most to least practical.

1. Work with a well-connected local agent

This is still the best strategy for buyers.

Agents with deep roots in a community often hear about homes weeks before they hit the market. Under the 2025 NAR policy updates, agents can still share the delayed-market leads in one-to-one conversations.[8] A pro who specializes in your area will also have some insider tricks — specific go-to platforms and contacts — that a regular buyer simply can’t access.

2. Let your agent send personalized letters to targeted neighborhoods

If you have a specific street or even a house in mind, have your agent send a personalized note to the owners. While it sounds old-school, it’s a great way to find homeowners who’ve been considering selling but haven’t taken action yet.

3. Monitor FSBO platforms

Many FSBO sellers skip the MLS and post directly to Facebook Marketplace, Craigslist, or ForSaleByOwner.com.

While it’s worth a look, these homes are rarely professionally prepared for sale and are often listed at inflated prices based on what the owner hopes the house is worth.

4. Search county public records

If you’re truly determined, you can dig into county records for pre-foreclosures, probate filings, and tax-delinquent properties. This is a high-effort strategy used mostly by professional investors.

5. Online platforms designed for off-market inventory

Platforms like PropStream or OfferMarket aggregate lots of information, including off-market listings. They are powerful, but some come with a fee and are better suited for investors buying at scale.

At the end of the day, finding an off-market deal requires much more effort than browsing Zillow. For most buyers, trying to do this independently can turn into a full-time job with a low success rate.

Your best bet is usually to find an agent who already has experience and contacts to surface these listings.

Matt Brown, Broker Associate at William Raveis, recently proved exactly how this pays off for a buyer.

“Recently, I found a charming single-family home by reaching out to agents who had sold nearby homes in the last year,” says Brown about his recent win. “The seller wanted a quick, quiet sale to avoid showings. I secured the home for my client at 5% below appraised value without a bidding war, providing both a favorable price and relaxed inspection timelines.”

What to expect during an off-market transaction

Buying or selling an off-market house may strip some protections for both buyers and sellers. These deals happen outside the structured process of the regular MLS purchase, so both parties need to stay vigilant.

For buyers:

• Prioritize correct pricing. Don’t take the seller’s word for it and agree to the first price you hear. Have your agent run a comparative market analysis (CMA) to confirm the price before you make an offer.
• Do not skip the inspection. In a traditional sale, defects often surface early. “Unlisted homes can have hidden issues, such as incomplete information, or a lack of proper disclosures,” shares Brown. An inspection is your only defense.
• Perform a title search. Private sales and FSBO houses have a higher risk of unresolved liens or title defects that may haunt you later.
• Be mindful of the appraisal. If you take out a mortgage to finance a home, your lender will order an appraisal. If you and the seller agree on a price higher than this valuation, you’ll need to bridge the gap out of pocket or head back to the negotiation table.

For sellers:

• Sign the “informed consent” disclosure. Under the 2025 NAR rule, your agent must have you sign a disclosure, which states you’re waiving the benefits of the MLS (like maximum exposure and potentially higher offers).[9]
• Disclose everything. Just because you don’t market your property doesn’t mean you’re exempt from disclosure laws. You’re legally required to inform the potential buyers and their agents of known material defects.
• Work with a real estate attorney. Because you may not have standard forms to lean on, have a lawyer review (or draft) your purchase agreement. It ensures the closing timeline and contingencies will protect your interests at the same level as the buyer’s.

Whether you’re looking to buy or sell off-market, your most critical resource is a local agent who can provide you with the best advice. Clever’s network of agents can introduce you to experts in your area, with no obligation or upfront fees. Take a short quiz to get started.

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