T.Fullman February 18, 2021
If you want to stay ahead of your competition then Off-market properties is the way to go. They are properties available for sale in Marsden Park Elara without being publicly listed on multiple listing services. Off-market properties do not have a ‘For Sale’ sign outside on the lawn, but the property is for sale. They are exclusive and are also known as quiet or pocket listings. Real estate agents who sell off-market properties must do all the heavy lifting on their own to find buyers. So it pays to know the right person.
This method was traditionally used to sell high-end properties whose owners sought discretion, but it has since gained traction for selling properties with homeowners. These listings are part of a secondary market, especially with the ever-increasing demand in Marsden Park Elara.
In this article you will find out about why you would want an off-market property and how you can find one.
Why choose an Off-market property
Many would think that an Off-market listing is a crazy option for a seller. Especially when there is more demand than properties, which would lead to a bidding war, resulting in a higher price. So why would a seller want to do a secret listing?
Sellers choose an Off-market listing if they want:
to test the waters
a private sales process
to negotiate a lower sales commission
to get a higher price because they think that if they list their home, it could end up sitting on the market for more than 30 days, and then there is a good chance that potential buyers will try to make low offers.
Not all homebuyers are looking for a primary residence. If you are searching for an investment property, or a place to buy and flip for a profit. Then an off-market listing can be an excellent option, especially if it's in a great neighbourhood.
Off-market also means less competition because you get access to properties that other homebuyers don’t see. You may also get a deal partly because the commission that the seller has to pay is lower. Or if the seller is in a rush to sell, then this could give you some great negotiating power when putting in an offer.
How to find an Off-market property
Identify the neighbourhood - Select the neighbourhood where you are looking to buy
Check Online - Look at newspaper classifieds for any properties marked “For Sale by Owner” (FSBO) in Marsden Park Elara. Also check FaceBook and even Gumtree where properties are post for sale for free
Contact Real Estate Agents - Prepare a list of top real estate agents in Marsden Park Elara. Contact each one about any exclusive listings they may have. This method involves some research and a lot of networking.
Approach Homeowners - You could find a lead by asking homeowners directly in Marsden Park Elara, either by door-knocking or sending out flyers. Be as professional in your approach as possible. This method will cost you time and money and there’s no guarantee of success. But there’s the chance that one person may respond positively or even know of such a property.