They are also far more private. The general public is kept in the dark, with fewer potential buyers traipsing through the property for inspections.
However while sellers could save money on advertising costs by selling off-market, a lack of competition meant they might not get the best price for their property. It is sometimes best to get your home in front of as many eyeballs as possible to create more opportunities, build competition and get a higher price.
For buyers, off-market purchases can be less stressful and more convenient for those who don’t want to go to multiple viewings and auctions. They also mean less competition from other potential buyers.
The off-market conversation has quickly become a powerful tool for savvy agents who know that once they have secured the listing they can deliver for their client, whether the property is sold off-market or eventually by another method.
Did you know that at any given time there are many great properties available for sale that sell before they’re advertised on the open market?
Known as the ‘undercover sale’, this type of listing is becoming an increasingly popular choice by many sellers for a variety of reasons.
So if you’re a buyer who doesn’t have your details listed with an agent, you may never have the opportunity to know about a property that’s got everything you’re looking for.
Some people prefer total privacy when it comes to selling their home, and this happens for a variety of reasons.
Sometimes the timing to shout out to the world that they’re selling isn’t quite right. Examples include a personal family situation such as separation, bankruptcy, business insolvency and issues with neighbours.
Or perhaps they simply want to test the waters and only want to sell if their agent has the right qualified buyer that is prepared to pay their asking price.
If you can relate to a scenario like this, it’s good to know that it is possible to sell ‘undercover’ to avoid scrutiny from others and keep things private.
Many agents secure successful sales for clients using the ‘undercover sale’ option. By cross matching the seller’s property with their buyer database, agents actively look for as many good matches as they can find. They then contact those buyers to let them know about the property they have listed silently.
It can also work the other way around. Buyers approach the agent with their specific needs and the agent then assesses all listed (undercover and advertised) properties to find a suitable match. Either way, it’s a process of cross matching and connecting.
So whether you’re looking to buy or sell, call us find out more about buying or selling a property undercover.
If you’re selling, no one needs to know about it until it’s sold. And if you’re buying, list your details with us as your ideal new home may just be hiding in the wings.