Recent Home Living Property Culture The Team North Shore Living
Recent Home Living Property Culture The Team North Shore Living
Selling a property off-market is a surprisingly common strategy in Sydney and one which can work well for home sellers, especially when property demand outstrips supply.

An off-market sale is where your real estate agency introduces qualified buyers to your property without publicly advertising the home. Some clients prefer to offer their property off-market first for a number of reasons, such as gaining initial market feedback on price or some ideas around what home buyers see as the plus’s and minus’s of the property, this allows for any adjustment or changes to the property prior to launching the home publicly to the market.

Some high profile individuals may need to sell their property off-market due to privacy or discretionary reasons. They prefer to sell off-the-market to avoid attention from the media, and the prying eyes of the general public showing up simply to see where or how they live.

Other home sellers simply do not desire a full marketing campaign.

Why sell off the market?

It’s important to understand from the outset that an off-market campaign is not a direct alternative to selling your home publically (with a strategic property marketing campaign). The more preferable method will always be a public campaign because that allows your agent the greatest ability to raise awareness and attract the largest number of buyers to your home. The more interest created for your home, the more competition there will be.

This said, at McConnell Bourn, we understand that each and every home sellers level of comfort, privacy and selling needs are different. The off-market approach can, in actual fact, be a great starting point and an excellent way to gather candid feedback from buyers that have been actively looking for a property like yours for some time.

Homebuyers that are well-known to us will also be well versed on what other properties, like yours, have sold for recently. So they will be able to provide direct market comparison to other homes they have viewed.

Often a passive buyer (someone that is not actively looking every weekend for a property) may be the best person to find. These buyers often buy because of an emotional attachment to your home, street or location, giving your agent an opportunity to achieve a more favourable sales price.

How to sell your North Shore home off the market

With the off-market home sale approach, we are able to leverage our key contacts and broader client database to invite pre-qualified buyers to view your property privately. Expert negotiation is then employed with interested buyers to achieve a fast sales result for you.

Off-market property sales can be managed for all types of properties and across all price points. It can also be an effective strategy whether you are in a buyer’s or seller's market. At the end of the day, you only need one or two highly motivated parties to start a bidding war which gives you the optimal situation in which to achieve an excellent home sales price.

Selecting the right agency for the job

If you’re considering an off-market property sale, your first step is to engage an experienced local agent who has an extensive database. At McConnell Bourn, we come into contact with motivated buyers on a daily basis and focus on establishing longterm relationships and a rapport that enables us to clearly identify each buyer's needs, what their search criteria are, and assist them in matching their property goals to your home.

Through our multi-office network, your McConnell Bourn agent will consult the broader agent team. This enables them to pinpoint, engage and nurture buyer interest from a multitude of sources.

Next steps – once you’ve tested the market

Selling off the market can be an effective approach, especially in a sought-after area like Sydney’s North Shore. However, you do risk leaving money on the table by not exposing your home to the market as a whole.

Ideally, you will get an offer you can’t refuse from a private viewing. However, if this is not the case, starting with an off-market sale approach will serve as a good way tot a pulse check of the market, gauging feedback on price and giving you the opportunity to fix any issues buyers highlight before moving to a comprehensive property marketing campaign.

What’s most important before deciding to initiate an off-market property sale is to chat with a McConnell Bourn agent. Our team will be able to talk you through your options and share details about the current market and comparative home sales, so you can assess whether this approach is right for you and your home.

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