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Off Market Listings

What is an off market listing?

There also know as silent listings or off market real estate. An off-market sale is a term used to define a property that is for sale without public advertising.

The vendors / owners are motivated sellers that are usually looking for a quick sale or a sale with special terms. 

Who has access to these listings? Everyone! Typically buyers agents & real estate agents have the most access to these type of property sales, but the Melbourne real estate market is changing everyday. 

Benefits to the buyer

No need to spend time speculating about agents under quote. Save time by not having to manage an inspection with hundreds of other potential buyers, or face nerve-racking auctions.

  • Less competition.
  • Exclusive access to non-advertised property.
  • Save time by not attending opens for inspections and auctions. 

Our lead buyers agent discusses the pros and cons of off market property. 

Benefits to the vendor:

Real Estate agents will advise against an off-market sale due to the fact that a public campaign will almost always drive a sale price higher. Agents don’t mention the exposure and future business the sellers advertising dollar brings to the real estate agency. In most cases, vendors / sellers are only willing to sell if their agent can bring in an offer over a certain amount.

  • No open homes, auctions.
  • No real estate agent conditioning.
  • Protect your privacy, no public advertising.
  • No commission payments, free sale.

How can our Buyers Agent’s help find an off market listing?

With agents located all across Melbourne we are able to assist clients in every area. We have a strong network in inner city, northern, eastern and south-eastern Melbourne, with a strong track record of successful purchases.

The team at WREA are committed to building relationships with other key people in the industry. Our positive relationships with vendors and real estate agencies across Melbourne ensure we have access to off-market listings to provide our clients with the greatest range of properties to suit their needs and budget. More information on buyers agents service. 

Off market listing example in Williamstown.

Cecile and her family had hoped to purchase their dream family home in Newport or Williamstown. After attending multiple auctions and continually missing out, Anaf was feeling discouraged. He, like many others, was continually missing out at auction as the Real Estate Agents were routinely under quoting properties in the area by an average of $150,000.

 

 

Uncertain of how to approach the highly competitive market, Cecile engaged Wise Real Estate Advice for help on how to navigate to difficult situation. Our Senior Buyers Advocate, Mark Ribarsky, was able to show Anaf and his family a variety of properties in the area and give and accurate market value on them. Once they were aware of the true market value, and had settled on a property, Mark submitted a private formal offer to the vendor to encourage the Real Estate Agent to take the listing off market. This strategy was employed to fend off competition before the auction.

After an intense campaign, Mark was able to secure the home in the heart of Williamstown for Anaf and his family for $50,000 under the asking price.

 

We would not have been able to secure the place we were after without Mark s help. He has great knowledge and experience of how things work, and gives simple, clear advice. He was friendly and very responsive to any questions we had. Was really easy to work with him and it seemed he was as much in to the search as we were! Would highly recommend to have him on your side – the cost is negligible compared to house prices and easily pays back in both time and money.

 

Off market listing in Williamstown. 

Would you like to submit your property for sale?

Remember, you do not pay us, as we are paid by the buyer. Your details are confidential, we don’t advertise your address on the web. We visit the property first before we bring any clients. You need to submit an address, a written asking price and a current Section 32 via email. If at any stage you are unsure of price we can recommend qualified and ethical selling agents. Please submit your enquiry via the form or ring us on 1300 00 WISE. Please refer to our sister company Vendor Advocate Melb

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