If you do what everyone else does, you’ll get what everyone else gets.
If you want to attend auctions on the weekend and fight it out against ten other people to try and secure a property, you pretty much know what you’re going to end up with.
People sell their property at auction, to try and get the best possible price by pitting bidders against one another.
For property investors and savvy home buyers, this is not likely going to be the way you want to buy a property. While going to auction might get you a property, it’s probably not the most effective way to buy a property.
We choose to buy property off-market because we believe it gets our clients the very best result.
Buying off-market allows us to face far less competition and in many cases none at all. That means we can negotiate a price that works for both parties and we can do it quickly and effectively.
On the flip side, why would a vendor choose to sell their property off-market?
On the surface, it might appear that it’s a far worse proposition to not even try and get the highest possible amount when selling a property. If a vendor has plenty of time to sell a property and just wants to get the most they can that’s completely fine. For us, we’re not looking to find these type of vendors.
The reality is that all vendors have different motivations behind why they are selling and also how fast they need to make the sale happen.
In the current market, as a Melbourne-based buyers agency we’re seeing a number of people who want to move homes and have chosen to buy another home at auction, prior to selling their current property. With a typical six week settlement, speed is important to these vendors and if you can make them a fair offer, they will happily sell.
These people don’t have the luxury of going through a long marketing campaign, an auction and then another lengthy settlement period. They need to transact quickly.
Similarly, many vendors are looking for discretion and don’t want open homes or a 6-week marketing campaign to sell their home. They know what price they want for their property and they will happily sell it if you can meet their expectations.
With issues and restrictions around home opens in many states over the past 12 months, we’re also seeing many people decide to sell off-market, simply because the high costs of listing a property and marketing it, is not worth it. If there are buyers ready to go many vendors would prefer to cut out the middle man and negotiate off-market to begin with.
We understand the value that off-market transactions can provide to both parties and we actively seek out vendors who are looking to transact quickly or discreetly.
In fact, we have created our own proprietary software that helps us identify vendors that would be looking to sell off-market.
Buying and selling off-market is a great option for many people, particularly if you’re an investor or a savvy home buyer.