Almost never, if your goal is maximum price. Off-market and private listing networks promise exclusivity and control, but the data in San Francisco is clear: homes sold without full public exposure average significantly lower prices than those marketed through the MLS. Fewer buyers means less competition. Less competition means weaker offers and less leverage for the seller.
The situations where off-market makes sense are narrow: a seller who values extreme privacy over price, or a property with genuinely unusual circumstances that benefits from a controlled introduction. For the vast majority of San Francisco homes, public marketing with strong preparation, professional photography, and a well-managed offer process produces the strongest outcome. I write about this directly on the blog.