When searching for a property to buy, in the past, home buyers had great difficulty getting access to off-market properties, that is those properties that are for sale, but not publicly listed.
Today, that has changed. Real estate agents and vendors now have multiple options where to sell their off-market properties, all while keeping them off public search platforms, which normally cost a lot for vendors to advertise on, such as realestate.com.au and domain.com.au.
The options today for a buyer to purchase an off-market property is also far easier.
Here are 7 tips below to buying an off-market property.
Engage with the community to build relationships with agents, developers, and other real estate professionals.
Research is crucial in any property purchase. Familiarize yourself with the market, local zoning laws, and the property’s history.
A multi-award winning platform, Property Whispers is designed to help buyers get access to off-market properties easily.
It is an instant matching and connecting platform, there is no browsing. Buyers register for free on the platform and get instantly matched to suitable properties for sale. As soon as they receive a match, buyers can get in touch directly with the agent or vendor to discuss the property for sale.
Property Whispers save buyers time as they can view properties at their own pace and without having to attend crowded open for inspections.
For vendors, it is a very low cost option to promote an ‘off-market’ property. On Property Whispers a vendors property is not exposed which means there is no digital footprint if the property does not sell.
Hiring a buyer’s agent can help you navigate the process of buying an off-market property, however the cost to do so can be prohibitive for many - setting you back tens of thousands of dollars.
Off-market properties are often sold quickly, so be ready to move quickly. Be prepared to act quickly and be flexible in your negotiations.
Get pre-approved for a mortgage before beginning your search for an off-market property. This will give you an idea of how much you can afford to spend and help you negotiate a better deal.
As with all properties, off-market properties may have hidden issues, so be sure to have details of a building & pest inspector to help you check out the property before you finalise the deal.
By following these tips, you can increase your chances of successfully buying an off-market property in 2023 and beyond.
Just remember to be patient, persistent, and flexible, and you should have no trouble finding your dream property.
Click here to go to Property Whispers and see how easy it is to use!
Property Whispers launched in 2017 as the world’s first off-market property sales platform, instantly matching buyers and their property requirements with all suitable off-market properties in their chosen area. You can buy or sell a property through Property Whispers. To join just click here.