Scrap the “For Sale” sign! Off-Market properties are the hidden gems of real estate. They are properties that sell without public advertising. They are not listed on sites like realestate.com.au or Domain. Property owners often choose to sell off-market for a host of reasons; the most common is a request for privacy.
At Buyhub, our buyer’s agents work to uncover these opportunities by leveraging their network within the real estate industry. They are constantly developing and expanding their relationships with both selling agents and real estate companies. These professional relationships connect our buyer’s agents with access to off-market properties. Selling agents are keen to advertise off-market properties to Buyhub as we have experience in purchasing property and a host of genuine buyers which increases the efficiency of the sales process.
Buying off-market has a host of advantages. For starters, the lack of public advertising decreases the likelihood of competition. With a public listing, property owners juggle dozens of viewings before finding a buyer. Off-market sales do not utilise marketing materials the same way a public listing does. This typically results in a smaller pool of interested buyers, making it more likely for that buyer to secure the off-market property. In addition, less competition leads to more wiggle room to negotiate a fair price. Selling agents must rely on their database and of course, that’s where the connection to our buyer’s agents is so important.
Buyers often feel limited to listings advertised publicly online. Having access to off-market properties increases a buyer’s pool of consideration. In addition, off-market purchases provide far more privacy when buying or selling. If you are looking for discretion when purchasing a property, buying off-market may be the right option for you.
However, there are a couple of potential drawbacks to be aware of when buying off-market. For example, the property owner might take their time when considering an offer, which would slow down the process of exchange and settlement. Their intentions could also be to evaluate the market but not follow through with the sale. Either way, we suggest using a buyer’s agent to get access to off-market opportunities and decrease the likelihood of finding yourself in a situation like this.
On average, 1 in every 3 properties we secure for our clients is off-market purchases. We get access to new off-market opportunities on a daily basis, and our inventory is constantly fluctuating. To view a sampling of the available off-market properties we have access to, follow this link to our residential purchases page buyhub.com.au/buyers-agent/residential/
Have you discovered your ideal neighbourhood but can’t find anything on the market? Don’t miss out on the opportunity to live in your dream home. We encourage you to speak with one of our experienced buyer’s agents to aid in your search and ensure you find the right property.