What are Off Market Properties
An off market property is one that is not actively advertised for sale. This means it does not appear on the usual marketing channels, like the main real estate websites. It also means that the terms and conditions of the sale, including the price, will not be widely communicated.
This can make buying an off market property quite an appealing prospect, particularly to investors. But these properties are intentionally difficult to find, and securing one often comes down to knowing the right people.
Why do some Sellers Choose to Sell Off Market?
On the surface, deciding to sell properties off market may not make a great deal of sense. After all, it is the competition between multiple buyers that usually drives up the sale price.
However, choosing to stay off market can actually benefit the seller in a range of different ways. For example, depending on their situation, selling property off market can:
- Speed up the sale process: If the seller needs to move quickly, staying off market allows them to skip most of the standard sales campaign steps. This means that it is possible to sell property off market in as little as a few days.
- Protect their privacy: Off market sales are particularly with well-known individuals, like celebrities, sportspeople, and high-profile businesspeople. Often, these people do not want details of their personal and financial dealings to be made public.
- Take some of the stress out of the process: Public sales campaigns are usually built around a schedule of regular inspections and preparing for these can take significant effort. But when you sell off market, there will usually be fewer inspections to manage and fewer attendees at each.
The Benefits of Buying Off Market Properties
As a buyer, the biggest advantage of an off market property is that there will be less competition for it. This means that you will not need to attend inspections with dozens of other interested parties. Nor will you need to try to out manoeuvre them during the negotiation or auction process.
This takes a lot of the pressure out of the process of buying a property. It means you can take your time and really think about the decisions you are making. It also means you are much less likely to overcommit or overspend.
Buying off market can also be a great way to get a bargain. The lack of competition usually means prices will be fairly consistent with market rates, if not slightly lower. And, if the seller is motivated, they may be willing to settle for even less, if you can move quickly.
How We Find Off Market Properties
The whole point of off market properties is that not everyone knows about them. Generally, the agent managing the sale will only contact a few people that they know are actively looking to buy. As such, you need to have good relationships with agents in your area to even find out about off market properties.
As an investor, these relationships take a long time to build and a lot of effort to maintain. But, when you work with an experienced buyers agent, like Search Party Property, you can leverage an entire network.
We have spent the last 20 years developing our connections and have close contacts located throughout the country. All these people know we are constantly looking for good properties and always have investors that are ready to buy. So, when a great opportunity comes their way, we are at the top of the list of people they call.
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Thanks to our extensive network, we regularly receive hot tips on off market properties. We look into every one of these, assessing each property’s likely performance and returns. And, if we feel a place has good investment potential, we share it with our subscribers.
So, if you want the inside scoop on some great off market opportunities, sign up to receive our Daily Off Market Cracker Deals:
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