Will selling your home off the market affect your sale price? Here is what you need to know before selling your home off the market. There is a saying in the real estate industry – “you can’t sell a secret.” And yet we see many properties off the market, that are not publicly advertised by agents. Instead, agents contact interested buyers privately. It’s a method of sale that has proven to be very popular over the last 12 months as markets in Australia have skyrocketed.
Benefits for buyers
- It’s the best opportunity for buyers to get a sale! Purchasing off the market can help buyers avoid the competition-driven price inflation often seen in the open market. This means they can get a better deal, without the pressure of possibly losing the property to someone else. You’re subject to a wider market while also maintaining control over your negotiation potential, as you avoid the high sale prices involved with the emotional and stressful nature of buyer competition. This also helps the buyer’s decision when it comes to needs and budget.
- If you’re in a high-profile position, you may not want too many people to get involved with a property purchase. Buying off-market property allows you to maintain control over the transaction. Buying off-market also means that you don’t reveal your financial situation. If nobody knows about the purchase, they also don’t know how much you’re paying. Some may find this useful when dealing with personal situations that involve money.
Benefits for sellers
- From a vendor’s perspective, the off-market sale removes the stress factor, you’ll save time, hassle, and money, with no open houses and minimal inspections and avoid exposing yourself to the risks inherent with open houses. You’ll also save on advertising, signage, and other marketing costs. It also gives the buyer a chance to develop a more personal relationship with the seller. This means they get more time to negotiate and examine the property before making a final decision, giving the seller more confidence in the sale.
- By going off-market, sellers have the potential to achieve a fast sale, at a great price. All in all, you can avoid the length of a normal sales campaign, with potential weeks of marketing your property and can confidently move forward with planning your move or next purchase!
You might now be considering how to kick off the off market selling process. With traditional off-market selling, you partner with an agent and let them bring buyers to you from within their own database of contacts.
Connect with off- market selling specialists through Possibl today to learn more about selling your property, for FREE! We can help you stay organised and confident in your sale at every step of the process.