The current climate has changed the way we do real estate and it's not all about sanitiser and social distancing. Recent reports indicate a rise in the number of property owners choosing to sell their property "off-market'. And with hungry buyers on the rise and low stock levels, off market sales can present many benefits to both buyers and sellers.
What is an off-market sale?
A property is sold off market when it is sold without any public advertising. Agents rely on direct advertising strategies with their market audiences to attract offers. Often, “off-market” means “pre-market” in the sense that the property simply hasn’t been listed anywhere yet. There are also some true “off-market” opportunities where the vendor doesn’t want to make the sale of their property public knowledge.
"Off-market sales are ‘no fuss’, and can be a quicker and quieter way to sell a property – especially for buyers who wish to be discrete."
Having the opportunity to inspect and make an offer on an off-market property can be a huge advantage for the right buyer, however, you have to find them first.
Why sell off-market?
Traditionally off-market sales were for those that needed to sell as soon as possible and/or were wanting to keep the sale private. These days forward thinking agencies, like MMJ Real Estate, are leveraging technology to connect keen prospective buyers with properties before they hit the wider market.
Selling off market could also give the vendor the opportunity to secure a buyer without outlaying traditional marketing costs potentially saving them thousands of dollars.
Where to find off-market properties?
To find out about off-market properties involves researching and networking with local agents like MMJ Real Estate. It’s critical to get onto email lists of real estate agents in your area and be as detailed as possible about what you’re looking for and how much you’re willing to spend.
Thinking about buying? Be the first to know about off-market properties with MMJ Smart Investor.
MMJ Smart Investor is free to sign-up and puts you in the drivers seat to be the first to look at properties before they hit the market.