Want to sell your property off-market?
Here’s what you need to know
So, you are thinking about selling your property but would like to know if there is a less expensive option than traditional agent-led sales— which come with marketing and listing fees. Or perhaps discretion and privacy are of utmost importance, and you would prefer not to list your property openly. Is there still a way to connect with interested buyers?
This blog will explain what off-market properties are and the advantages for both sellers and buyers, as well as the concerns you should be aware of.
And finally, how working with Early Match offers the best off-market experience for you.
What is off-market?
Simply put, an off-market property is a property that is for sale without being publicly listed and openly advertised. Traditionally this method was used for high-end properties or well-known people who wanted discretion, but the benefits it offers for buyers and sellers mean it’s becoming more widely used.
Advantages of selling off-market
So, what are the main advantages of selling off-market?
Lower costs: One of the most significant advantages to an off-market sale is saving on expenses such as home staging, market material, listing and auction fees.
Connect with qualified buyers only: Open homes attract interested buyers and those who are just ‘looking around’. Off-market platforms, such as Early Match, have a pool of qualified registered buyers who are genuinely motivated to buy.
It’s all about timing: The property is offered for sale immediately as the time required for compiling marketing materials, stage a photoshoot and prepare the ad copy. An off-market platform allows you to test the market and then sell the property as soon as you are ready.
Best of all, you don’t have to rush things if you want to take your time and wait for the right offer.
Maintain your privacy: There are reasons a private sale may be just what you’re looking for. Off-market property sales mean only those who match your criteria and are registered on the platform will know your property is for sale.
Why an off-market sale might be better than an auction?
It’s best to remember that auctions represent less than 10% of the properties sold in Australia and are not suitable for all properties. Auctions are only fitting for properties which are in high demand in particular areas and you may go to the trouble of arranging an auction only to attract little to no interest.
If the property is sold under auction conditions, the seller only gets the price driven by the second-best bidder. The seller and agent will never know what was the maximum budget of the winning bidder and it is possible a private negotiation would have resulted in a higher price.
The Early Match approach is to advise sellers about the best strategy to sell their property in their interest, but, if conducted correctly, an off-market can achieve better result than an auction.
Early Match Off-market
Early Match specialises in connecting buyers and sellers in the pure off-market stage when the homeowner is in the initial stages of exploring the market and wants to communicate with genuine buyers. There are no lock-in contracts or fees charged unless and until a sale is completed.
Sellers are not pressured to sell and do not have the added costs of marketing and listing fees. As Early Match is fully licenced to conduct real estate transaction, the Early Match team can also provide professional advice to homeowners on how to proceed.
As with anything, there’s always pros and cons, but the savings in time and money, not to mention less stress makes it a good option and a starting point when sellers want to test the market. Start with an off-market campaign and see where it takes you ☺