Selling a Property Off Market
You might have heard of properties being sold off market in Mandurah and wondered what on earth does that mean.
In a nutshell, a property is sold off market when it is not advertised using the traditional channels.
The Savvy, more “in-tune” real estate agents have buyers that they are currently working with very closely which are more than willing to purchase a property before it gets advertised…and, from personal experience, I’ve found that these buyers typically pay fair market value and in many cases they would prefer to pay ‘a premium price’ to secure the right home that suits their family’s needs, rather than take their chances of the property being advertised out to the broader market, where they could end up missing out on securing the home.
In addition, the Real Estate websites like realestate .com.au and domain .com.au have become extremely expensive (continually increasing their prices), and as such, real estate agents and property owners are now looking for ‘low cost – high yield’ marketing strategies.
However, that’s not to say that an investment in a Marketing Campaign no longer has an important role to play in the sale at all, far from it, but there can now be a 2 Step approach to marketing your home for sale.
How to sell your property Off Market
The ‘Off-Market’ sale option is typically adopted for an initial period of time which allows for the agent to source interested parties via their existing database of buyers, plus, savvy agents will promote the Off-Market property via a “Targeted” Social Media campaign.
Mandurah has also become a hot spot for investors, both from the eastern states and locally. These investors are paying premium prices for properties as Mandurah is classed as affordable when compared to other parts of the country.
How long does a “Off-Market campaign run for? Most Agents that can run an effective “Off-Market” campaign, do so for up to 2 weeks, this is often referred to as ‘Plan A’.
Your local Mandurah Real Estate Agent will have photo’s taken, do a write up of the properties features and possible rental yields and present this to Investors and their database of home buyers that they have been working with.
A normal more expensive campaign ‘Plan B’ may follow ‘Plan A’ should ‘Plan A’ be unsuccessful.
If you wish to know more about this selling approach that could save you $thousands in marketing costs and a lengthy marketing period, contact Andre at Mandurah Agents who has extensive experience in selling properties off market.
