The couple had initially been trying to quietly shop their Beverly Hills property off-market, but had no luck finding a buyer, a real estate source tells PEOPLE

PHOTO: MARC PIASECKI/WIREIMAGE; GARY MILLER/WIREIMAGE

Ben Affleck and Jennifer Lopez decided to publicly list their Beverly Hills home after it initially received “very little initial interest” from potential buyers, a real estate source tells PEOPLE.

“After privately showing the house for a few weeks, they had very little interest,” the source says. “Publicly listing it was the next natural step.”

 first reported that the couple were quietly shopping the home that they purchased together in 2021 off-market on June 10, meaning that there was no official listing for the house, but it was technically available to purchase to those with a realtor in the know.

A month later, on July 11, they decided to publicly list the house, after their initial efforts failed to secure a buyer.

“They paid $60,850,000 in May, 2023, and it’s now listed for $68 million,” the source tells PEOPLE.

XAVIER COLLIN/IMAGE PRESS AGENCY / BACKGRID

Trying to sell a property off-market is a common move for high-profile homeowners. Celebrity real estate agent and Million Dollar Listing Los Angeles star Josh Altman, who is not associated with Affleck and Lopez’s listing, but has sold homes for Kim Kardashian and Heather Dubrow, tells PEOPLE why.

“Selling your house is a very public thing on many different levels,” says Altman. “Everybody has access to information these days on the internet. People can find out how you live from pictures. They get to know how your house sits, what rooms look like. It’s actually a pretty invasive process, in general.”

JENNIFER LOPEZ/INSTAGRAM

Altman also points out that a buyer who can afford Affleck and Lopez’s home is probably going to be someone “extremely high profile” who might hope to keep the transaction out of the public eye.

“If it’s off-market, a deal might be able to get done without press getting involved and without people talking about it,” he says. “Some [public] deals have gotten done in the past where it just becomes almost a press event before it closes.”

The real estate source tells PEOPLE, Affleck and Lopez’s estate is “stunning,” and “the perfect house for both family fun and entertaining.”

JENNIFER LOPEZ/ INSTAGRAM

“It was a gem when they bought it, but they also renovated to their taste and what worked better for the family. Jen has impeccable taste. The house is elegant, timeless and exquisite,” the insider says.

The 12-bedroom, 24-bathroom, 38,000-square-foot home features amenities including a bar, sports lounge, fully equipped gym and boxing ring.

MONICA SCHIPPER/GA/THE HOLLYWOOD REPORTER VIA GETTY IMAGES; LUMEIMAGES/SHUTTERSTOCK

The five-acre property, which the couple purchased almost a year after they tied the knot in July 2022, also holds a 12-car garage, pool, and courts for basketball and pickleball.

Sources have previously told PEOPLE that Lopez is living in the Beverly Hills mansion while Affleck is staying at a rental home a few miles away.