It’s a selling method that’s become increasingly popular across real estate markets, and the off-market trend doesn’t seem to be slowing down anytime soon.
Off-market sales opens a world of opportunity for buyers to find their next home. The key is understanding how to navigate what can be an unfamiliar process. Here’s what you need to know.
It’s all about connections
The first step to a successful off-market purchase is signing up to the right newsletters and connecting with the right agents. Not everyone will offer off-market opportunities, so a little bit of research will go a long way.
Check for off-market options on real estate agency websites, this will usually lead you to a subscription area where you can sign up for off-market property alerts aligning to your budget and preferences.
Speaking directly with real estate agents can also be beneficial. When an agent knows a buyer is serious, they will contact them directly about new off-market properties, often before an email alert is sent to subscribers, putting you in the best negotiating position.
The need for speed
A homeowner that opts for off-market is usually looking for a fast sale so buyers who move quickly will be the frontrunners to securing the property. There’s also less room for negotiation so having a budget set, finance organized and a mortgage broker and solicitor ready to act on your behalf is a must.
One of the biggest benefits for buying off-market is that it’s generally less stressful. Of course, every property transaction has its pressure points, but when you go off-market there are some things you can kiss goodbye.
No Saturdays spent trawling crowded open homes, no competing - and missing out - at auctions week after week and no need to spend hours searching for homes online and in the local paper. When it’s off-market, the homes are sent to you and match your set criteria and budget.
If off-market appeals to you, you can sign up to exclusive property alerts with Belle Property Private.