At Bayside Real Estate Advocates, we have an extensive network of real estate agents and clients we regularly connect with to find off market opportunities both for buyers and sellers. But what is the power of an off market opportunity and why do some people like to buy and sell in this way? Let’s break it down for you!
Buying or selling an off market property is a great strategy for a number of reasons:
Less Competition
Since the property isn’t publicly listed, fewer buyers, if any, know about it. This reduces the amount of potential buyers interested in it and therefore reduces the bidding competition – your buying power is stronger. As a seller, you’re dealing with fewer interested parties, and often people who are ready to commit to a purchase than those who may attend an auction just to see what the property sells for. As the buyer, you’ll have a stress-free experience than you would bidding at an auction or making private sale purchase price offers with an unknown amount of competitors.
Better Price & Negotiation Power
With less competition, sellers may be more open to negotiating the price and settlement terms, giving you an edge. Off-market sellers are often more willing to negotiate price because they often have specific motivations for selling that make them prioritise a smooth, quick, or discreet transaction over getting the highest possible price.
More Time for Due Diligence
Without the pressure of multiple competing offers, you can take your time to inspect the property, assess its value, and arrange financing, ensuring this is the right property for you without the pressure of a looming auction reducing your time to properly consider all aspects of the home.
Access to Unique Properties
Some of the best properties never enter the market publicly. Investors, landlords, and homeowners sometimes prefer discreet sales to avoid public attention or save on agent fees and commissions, particularly if the property is high-end or in a suburb that’s in demand.
Potential for Value-Add Opportunities
Off-market properties can often be in need of a renovation or are part of a deceased estate the family needs to sell quickly. Because of this, you might find properties with strong value-add potential – homes that can be renovated and sold for profit, or knocked down and redeveloped into high density housing to use as investment properties.
Our off market opportunities come through personal connections, real estate agents with insider knowledge, or direct outreach by Bayside Real Estate Advocates to property owners, so you can rest assured you’re getting access to a genuine purchase opportunity where your best interests are at the forefront of our process. If you’re ready to sell and want to remove the stress of an auction of private sale experience with an agent, we can also help you navigate the journey, bringing you buyers with a genuine desire to purchase your home. Whether you’re interested in buying or sell off market, get in touch with us today to start the conversation.
