While there are the traditional methods of sale including auction, private treaty, and expressions of interest or tender, with more recent market demands, selling off-market has become a viable option for sellers and buyers.
To sell off-market, a sales agent will usually have a database of interested buyers that have been generated due to an interest in similar properties in the area. This will provide an avenue to market the property to these prospective buyers without public advertising.
If this form of sale is your preferred method, it is important to partner with a sales agent who has a proven track record of recent sales in the local area and is likely to have a list of qualified buyers. They will be able to leverage off this list to contact prospective buyers that are finance approved and bring those buyers to you.
This style of selling will mean that there potentially isn’t a need for many weeks of open homes and there is a simpler marketing strategy than is required for traditional methods of sale. The agent will also facilitate the process through to settlement and give you the opportunity to sell the property faster.
Selling off-market can be a good move to reduce the associated marketing costs that can come with a traditional property sale. You may find that there isn’t a need for investment in professional styling as purchasers may not be expecting the property to be styled.
Positioning an off-market sale in the market may also be a strategic move to assist both vendors and purchasers who are looking for anonymity in the sale and purchase of a property. This form of sale offers a level of privacy that isn’t available in other sales and as a vendor, if you would like to maintain a closed-door option to your sale, then this may be the best preference.
As with all forms of property sales, talk to your advisors and your sales agents to determine the best method of sale that will suit both you and the style of property that you are selling.
Content originally appeared on The Real Estate Voice Should I consider selling off-market