You may have read the Herald Sun’s recent expose on the hidden property market, revealing that a number of unadvertised homes are sold in Melbourne, with about a third of the properties being off-market sales.
With the property market remaining relatively soft, there are fewer properties listed and going under the hammer. Opportunities for buyers to find their dream home or investment property exist by tapping into off-market, pre-market and private sales.
The benefits of buying off-market
Buying an off-market property has advantages for both buyer and vendor, especially during a soft market as you can eliminate competition and can get a better deal.
For the seller, a private sale means a greater degree of privacy and certainty around the sale, as well as avoiding a potentially stressful selling campaign. Selling off-market for the right price can take away the uncertainty of going to auction for the vendor.
For the buyer, you are not competing with the wider market and can buy a property for the right price, rather than inflated by auction conditions. We recently purchased an off-market property in one of Melbourne’s best streets (Albert Park) for $3.375 million, rather than $4 million, which is what we could have paid, had it gone to market.
Let hidden opportunities come to you
Making an early offer is key to avoiding potential competition and securing the most favourable outcome.
As a professional advocacy group, we maintain regular contact with agents and are often in the first grouping of buyers to know about a new listing before marketing has even commenced.
A trusted buyers advocate, we are often approached by agents looking for a quiet and discreet sale. Our extended networks and expertise mean we can secure the very best price for our clients without the house going to market.
Engaging a buyer’s advocate can make uncovering a hidden gem in the un-advertised market effortless and simple with our team of experts continuously monitoring Melbourne’s property.
Get in touch to see how we can find ‘hidden’ properties for you.