This is one of real estate’s great secrets: agents are often selling properties that are not in the window, on websites or advertised in local newspapers.
These properties are known as “off-market”. Their owners either don’t want others to know they are selling, or they’re testing the market to see if they can achieve a price they like before they commit to a marketing campaign.
In the majority of cases, the owners of “off-market” homes are in no hurry to sell and have a pretty determined view of what they and their agent believes the property to be worth.
If you restrict your search to scrolling web pages, newspapers and scanning agents’ window displays, you’ll never know they even exist.
The solution, of course, is to talk to your local agent, introduce yourself and discuss the type of property your seeking and a price range.
As your agent, we’ll be able to guide you not just on the “off-market” properties in the area, but also how realistic your price expectations might be and, if relevant, the options you have in conducting a successful search.
We understand buyers are sometimes reluctant to talk to agents because we represent the seller. But that’s only part of the story. We want you to have a great buying experience as we figure you’ll return to us when you decide to either sell or buy an investment property.
So, take time to engage with us and discuss your ambitions; otherwise, you’re unlikely to uncover the off-market properties in your desired area.
Here are seven tips to find properties being sold off-market.
- Decide on the specifics of your desired property – include price range, location, number of bedrooms, land-size, gardens, off-street parking.
- Declare any additional features required – e.g. swimming pool and/or if you are comfortable with a property that needs renovation.
- Email this criterion to us, or set up a time for a chat. We’re now pretty good at Zoom catch ups!
- State that you’re seeking suitable properties, including those that are off-market.
- Ask if we have any properties that fit your description that were recently passed in at auction.
- Discuss with us buying trends in the local area, and prices attained for properties similar to the one you desire.
- If any off-market properties appear suitable, ask about the owner’s timeline, as an extra few weeks or even months will be valuable if you decided to buy before you sell.