75% of the properties we buy are off market.

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Buyers Agents Mosman

The benefits of off-market buying with a Northern Beaches Buyers Agent

If you have been trawling through the papers or online property sites looking for that perfect Northern Beaches Property, trying to get a handle on what the markets have been doing from both sales and price perspectives, two phrases are acting as a massive roadblock – ‘Contact agent’ or ‘Price withheld’. Agents are not required to release sales results, even from public auctions, and there has been a real shift in recent months away from reporting them. While they will eventually filter through to property data companies like CoreLogic once settlement occurs, this can sometimes take many months. Often prices are withheld at the buyer’s or vendor’s request, or both. And sometimes confidentiality clauses are even stipulated as part of the contract conditions. This is not helpful for buyers trying to gauge Northern Beaches market conditions, and the lack of comparable sales makes it more difficult for agents to accurately appraise properties before sale. It also makes it hard for sellers who are trying to consider what offer to accept on their home in private treaty sale, or what reserve to set if the property is being sold by auction. And then there are so-called off-market properties – those that are on the market, but not ‘officially’ and therefore not being actively marketed, especially on online property sites like realestate.com.au or Domain. Accessing these private sales can often be challenging. According to the Real Estate Institute of Australia, the key data recorded by 2011 Census showed there were 64,698 business brokers, property managers, principals, real estate agents and representatives in Australia. Of these, more than 34,000 are in NSW alone. That’s a lot of databases! image assets buyers advice While many of these don’t have a substantial number of ‘off-market’ properties available for sale, there are others, particularly in cities, that have extensive lists of properties that fall into that category. Some agencies even have special areas on their websites, where registered buyers can view off-market properties. As a buyer, there are advantages to accessing these properties. Sometimes sellers who are attempting to achieve a sale in this way are looking for a quick turnaround, while others are looking to maximise the privacy of the sale. It is often the favoured method of sale for people in high-profile positions, including celebrities, but it can also be useful for sellers whose family circumstances (such as divorce) require them to maintain privacy and limit the additional pressure during what is already a challenging period of their lives. Accessing these properties generally requires working closely with real estate agents, joining databases, and building relationships. It can take a lot of time. Using a Northern Beaches Buyer’s Agent is a good way to circumvent this and get straight to the properties. Buyer’s agents with deep industry connections like ours will have access to these properties and can match them up with their clients. In the current marketplace, ‘off-market listings’ are likely to represent approximately half of the available properties within your search criteria. Buying off-market provides benefits. Not only is there more privacy, but there is often less competition and it is often a quicker process than following an auction or private treaty campaign. It is a great way to sniff out a bargain, especially when sellers are looking for a quick deal. Want to find out more about how we can help you access off-market properties? Give Lock & Key Property Northern Beaches Buyers Agents a call on 02 9976 6187 or drop us a line at info@lockandkeyproperty.com.au