Michael Nourman, a new Inman contributor, writes that buyers feel they are missing out due to the proliferation of off-market items. Here’s how to provide clarity and transparency.
A while ago, I received an email from a client who was happy with my work but was uncomfortable with the decision-making process. They were concerned that they were missing out on off-market opportunities and wanted to partner with another agent they met at an open house who had recently texted them about properties that were being shown off-market.
I hear variations of this almost every day, and more often than usual. There is a growing belief among buyers that the most desirable homes are pocket listings and that off-market access is the only way to be successful.
While some buyers do indeed seek out homes this way, the belief itself creates an illusion of scarcity. It will change how people search, make decisions, and evaluate agents.
This concern often arises even when the agent is doing a thorough job. Buyers sometimes hear about homes they’ve never seen from other agents and begin to wonder if they’re missing out. This moment of doubt may be enough for a client to consider bringing others into the process or to start soliciting random agents for off-market properties.
When we looked at recent sales in the West Los Angeles market, we looked at over 100 transactions within a defined time period. Only about 7% of these sales were actually sold off-market. The vast majority of homes are still traded through the MLS.
When a client raises this concern, my approach is to elaborate on the data and provide context about what is actually happening in the market, including how much inventory is actually off-market and what has already been valued on the client’s behalf. I send all sold listings, including off-market listings, for them to review. In most cases, the problem is not access. That’s recognition.
So why does that perception persist?
One reason is fragmentation. Buyers are no longer looking for one location. In addition to the MLS, there are brokerage networks, private inventory, and social media. Although information is widely available, it does not appear to be centralized. As a result, buyers often hear about homes they’ve never been shown to.
In the area I studied, 93% of all properties were sold on the market. Therefore, the property may be off the market for a short period of time, but the seller eventually decides to put the property on the MLS.
But from a client’s perspective, it can feel like something is being missed or put on hold. That perception creates pressure on agents to create something exclusive. It can also create an environment where other agents position off-market access as a differentiator or hook, regardless of how much inventory actually exists.
Another problem is that much of an agent’s work is done behind the scenes. We evaluate properties based on location nuances, floor plans, long-term resale potential, and how the home fits into our client’s lifestyle. These conversations often take a back seat when the focus shifts to off-market inventory.
As a result, the conversation moves away from making the right decisions and toward chasing the elusive. The market itself is not becoming more opaque, but it appears to be more fragmented, which requires a different approach from agents.
The industry has spent decades building a transparent system based on the idea that broader exposure leads to better outcomes for sellers. That principle remains the same. The better your property is known, the more likely it is to reach the right buyers and get the best price.
In my experience, several principles are important in this environment.
Off-market inventory is not new and remains a small portion of the market. These transactions always exist, but they make up a small percentage of transactions. If you focus too much on the intangibles, you risk missing out on powerful opportunities in the market.
The more property options you have, the better, but the real value comes from evaluating which properties make sense and why.
Fragmentation causes confusion. Because information comes from multiple sources, buyers may feel like something is missing. Agents must proactively clarify what is relevant and what is not. Transparency leads to better results. The more buyers and sellers are working from the same information, the more rational decisions they can make. Limiting visibility may create influence in the short term, but it is not beneficial in the long term.
When buyers think the market is uncertain, their behavior changes. They rush into decisions, worry about timing, or pursue a home simply because it seems difficult to access.
This change has a big impact on agents. Conversations that used to focus on price, condition, and strategy now often start with questions about what else is out there and if we are missing something. In some cases, these questions involve outreach from other agents that provide alternative access.
In this environment, the agent’s role is to help the client interpret the market. The most effective agents are those who can provide clear information. In today’s market, the problem is not access. That’s understanding.
Michael Nourmand is president of Nourmand & Associates. Connect with us on LinkedIn and Instagram.
