An increasingly popular sale type is the off-market method – privately marketing a property without publicly listing it on major real estate platforms or through typical advertising channels. Instead, sellers and agents tap into exclusive networks, buyer’s agents, and off-market platforms to reach motivated buyers discreetly, who are invited to inspect and make an offer on a property before it is formally listed.
The pros of selling off-market.
Reach the right buyer
Off-market sales allow sellers to cut through the noise and only invite qualified and highly motivated buyers to inspect a property. High-profile individuals or those who value discretion may prefer this method to avoid public exposure.
Buyer’s agents will proactively reach out to real estate agents with their buyers’ search criteria, with the agents notifying them of suitable upcoming off-market sales.
Another way to reach qualified buyers is through online off-market real estate platforms which require buyers to provide specific criteria. If a property matches their criteria, the buyer is notified immediately.
No open homes
An off-market sale means fewer interested buyers and less foot traffic through a property, reducing the need to prepare and stage your home for regular inspections.
Potential Savings
Selling off-market can save the seller money on the listing. Offers can be submitted, reviewed, negotiated, and accepted before investing in external marketing options or auction fees.
Test the market price
Selling off-market gives sellers a picture of the property’s value, testing the market’s response – positive and negative – and assessing price expectations. If a property doesn’t sell off-market, vendors can take it to the open market with a clear price strategy and realistic expectations.
Less Pressure
An off-market listing doesn’t have an official start date, so sellers can take their time and test the market without fear of a negative impression from potential buyers. The longer a property spends on the open market, the more lowball offers it will attract.
Maintain Privacy
Choosing an off-market listing allows sellers to keep their property away from an open real estate market. No public listing, auction or open homes afford privacy.
Faster transaction By avoiding the length of a typical sales campaign, which can sometimes take several months, sellers can achieve more immediate results.
The cons of selling off-market:
Risk of not reaching the best sale price
Typically, higher buyer interest in a property means greater competition and a potentially higher sale price. Fewer buyers mean fewer offers and less chance of a bidding war, which could see the property sold at a lower value than if it were listed on the open market.
Slower Sales
Off-market sales are all about attracting the right buyer, and in the case where it takes a while to find the right person, a property is going to take longer to sell.
Learn More
Wondering if an off-market sale is right for your circumstances? And if you are looking for a streamlined selling process, contact Belle Property Dural’s Principal, Carolyn Wheatley – 0407 120 483 to see if off-market is the best fit for your property.
