Keen for stress-free property purchase in this market?

Off-market listings are the solution.

To begin with, one should understand precisely what an off-market property is.

An off-market property is a version of a silent sale. It is a property that is for sale but is not publicly listed nor advertised online. 

Traditionally, off-market is a method used by sellers who want discretion when selling high-end properties.

Let us look at the benefits of buying off-market properties:

1. It is less stressful in a hot market.
2. You do not need to sacrifice your weekends to attend open houses.
3. You can easily talk to the seller, lay down your proposals and negotiate based on what is best for you.
4. You will have less competition. 
5. Typically, no need for a rush decision to buy the property. 

Buying on a website listing means that other investors can bid against you. When an independent buyers agent brings you an off-market property to inspect, making an offer gives you the power of placing your price precisely where you want to, rather than feeling urged by competing buyers.

Sellers enjoy these benefits, too. So why might vendors choose to sell 'off-market?

1. Sellers do not always want their properties publicised, especially if it is a high-end property.
2. Sellers deal with a few potential buyers only. One can evaluate the buyer's motivations for buying the property. 
3. Fewer buyers mean sellers can better negotiate the conditions and clauses.
4. Less advertising costs. 
5. A potential quick sale. Some sellers ask their agents to look for an astute buyer.
6. Some sellers do not like the idea of having numerous potential buyers walking through their properties.

Buying an off-market property could be the best move for property investors and home buyers. You can easily make deals directly to the owner and negotiate to get the price that is best suited for you and avoid the risk of overpaying. It is hard to find an off-market property, though, in a hot market. The seller's agent usually is in charge of generating interest in their properties. The only thing that changes is direct advertising. However, most agents have a strong network of their VIP list. The exclusive nature of going off-market via the VIP list means that not any investor can bid on the property. The task is to become that type of buyer that comes in that close network. The reality is, it is difficult for a typical property investor or home buyer to find off-market properties, but with the help of an experienced buyer's agent who works with several seller agents, you can be granted access. Whether the market is hot or not, silent sales do happen, and we happen to keep our clients updated with our off-market opportunities.

Another thing that helps grab a great off-market property is that you are ready for your finances as a buyer. As an off-market property, generally, the seller is keen to have a buyer who has the finance approval so that the transaction can be done quickly. The selling agent wants a smooth and speedy transaction to have a hassle-free deal with a guarantee. That is why the selling agents approach an independent buyer's agent, as he knows that the buyer will be qualified if it comes from the buyer's agent. The selling agent also knows that the buyer's agent will professionally take out all the emotions during the deal settlement. 

Allow me to share an example of our recent purchases. Joseph (not his real name) was naive in investing in properties; he attended our workshop and later worked out a strategy to build a property portfolio. 

Instead of paying a typical premium in this market, we secured an off-market property at a decent bargain for him. Again, thanks to our deep network to permit us access to off-market listings. Generally, a good buyers agent contacts book is his greatest asset in that he has the reach for all the best off-market deals for his buyers. 

Strategy: Long term Buy and Hold, Upfront Equity 

Location: Regional NSW Growth Corridor

Particulars: 2012 built, low maintenance, 4 Bedroom Brick home

Rent Appraisal: $450 p.w.

Rental Yield: 5.03% 

Vacancy Rate: 0.5%

Negotiated price: $465k 

Next door property sold for $532.5k in the open market, signifying the importance of buying well. Our client was thrilled and already started thinking of buying his next property to build his robust property portfolio. 

Are you planning to buy an off-market property yourself? Buying an off-market property yourself do comes up with a risk as you never know that the seller you are negotiating with is genuine or not? You need to be proactive in the market to find the deal and keep checking the coming soon property advertisement from the real estate agents as the agents will not know unless you are actively checking with them. As a buyer's agent and experienced property investor, we understand the difficulties that come with looking for access to off-market properties. We will work with you to streamline this complex process, making it as rewarding and stress-free as possible for you. The perfect home could be waiting just for you, but you would never know about it unless it was presented to you. In the end, buying a property off-market comes with a better price offer and a better deal than the property listed in the market on the real estate websites. 

Next steps:  Should you want to discover what we do and how rewarding it can be for you, feel free to touch. Get RARE Properties comes to your assistance as an independent buyers' agent here to guide you through the complexities of purchasing properties. With us in your team, you can ensure that you will get the right personalised strategy, the Right Property at the right place. As an experienced property investor and negotiator, we look at the property as a business transaction and do not let emotions creep in. We will help you choose the best deal at the right negotiated price and save you from undue stress making the process very pleasing and rewarding.

Get in touch via email at rasti@getrare.com.au or book an appointment here. 

Disclaimer: This article is general and does not take into account your situation. It would be best if you considered whether the information is appropriate to your needs, and where applicable, seek professional advice from a financial adviser.