What Is Off Market Property?
For many people, finding the perfect property – whether it’s a future family home or an investment – can be a challenging task. One option that’s gaining popularity in Australia is the off market property.
What Is an Off Market Property?
This approach contrasts with an “on market” campaign, where the property is openly promoted to attract as many buyers as possible. Access to these off market opportunities often comes through experienced buyers agents with strong real estate networks.
Listing or selling your property ‘off market’ is when there is no public advertising or marketing used to help promote the sale. Simply put, an off market property is for sale, but it is not marketed or advertised via the traditional channels. This is in contrast to a typical on market campaign that is advertised on the portals like realestate.com.au and domain.com.au
A good buyers agent can provide you access to off market opportunities.
How Can I Access This Secondary Market When Buying?
As buyers agents who have solid networks with real estate agents established over many years, we are regularly presented with properties before they hit the market. There are a whole range of reasons why people choose to sell this way i.e the seller needing an urgent sale whether due to financial difficulties, marriage breakdown necessitating a quick sale, and other reasons around individuals wanting discretion around the sale and transaction. In hotly contested markets, this is a significant advantage for buyers.
Pro’s And Con’s Of Off Market Property
If you’re selling a property off market, it is often done and dusted quicker than a conventional sale. For buyers, this method of sale can often result in a bargain price – particularly if the vendor is in a hurry to sell. On the downside for the seller, there is a chance you will get a lower price for your property than with a full blown campaign. This comes down to numbers – with comparatively fewer buyers, there is likely to be less competition for your property.
Tips For Your Next Property Purchase
When you are next in the market for a family home or investment property consider engaging the services of an independent buyers agent. By engaging one you will gain access to this entire secondary market of properties which will put you one step ahead of the average property buyer.
Engaging a buyers agent can also provide the following benefits:
- Act on your behalf with total anonymity, providing you with much desired confidentiality
- Provide you with a range of off market opportunities
- Save you time
- Save you from overpaying for a property
- Better negotiating of the purchase price and conditions
At the end of the day, you need to make the right decision for your circumstances. If you would like to know more information about off market opportunities and how we secure these for our clients, please feel free to reach out.
Ben Plohl – Founder & Director
BFP Property
ben@bfpproperty.com | +61 434 561 378
**All information published has been collated and prepared in good faith. No representation is given or implied as to its accuracy or interpretation. Please ensure you rely on your own research before making any investment decisions**
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