What to Watch for When Buying Off-Market Properties?

Do you have any off-market properties??

This is the first question raised by many buyers whilst scouting to engage a buyer’s agent – and YES we do have access BUT this is not always the best option to secure property and buyers agents can’t be reliant on just these options.

In short, an off-market property is a property that is readily available to be purchased however is not publicly listed on any real estate-specific website or portal.  These properties are typically not accessible to the public.

There are some downfalls to off-market properties; vendors test the market ahead of engaging a real estate agent or boutique property advisors, the lack of sales campaign deadline can reduce the urgency in a sale and the vendor will have a set price in mind and will sit and wait, there could be hidden agenda with the imminent sale (maybe structural issues, etc).

Just because a property is off-market, doesn’t mean it is a good buy. It will need to be independently evaluated and the pending acquisition will need to undertake due diligence like we would with any other property.

It is important to note that premarket listings or standard property campaigns are equally effective as we can engage and work with REAs to expand on our intel, understand the key drivers behind the seller, and get a deal secured with conditions that are mutually beneficial to both parties.