February 9, 2022
The recent interest rush in the off-market property approach is only proving what marketplaces such as Listing Loop already know: it's a great way to both buy and sell a property.
This method of buying and selling has always been available but it's only fairly recently that large numbers of people are turning towards it.
The once industry-only term has now become a very well-known one with more and more people aware of this approach.
Home-buyers are also encouraging their potential home-buyer friends to go to dedicated off-market sites such as Listing Loop first, rather than waiting for a For Sale sign to go up.
But what has spiked this change?
No longer behind the eight ball
We're experiencing an extremely hot market with property and rent prices skyrocketing and the latter sector also experiencing plunging vacancies.
Then there's our 15th consecutive month of 0.1% record low interest rates and an inflation rate of 3.5% over the year to December, with the recently released trimmed mean figure of the last quarter at 2.6%, according to CoreLogic.
As a result, keen buyers and sellers don't want to be left behind and are snapping up on-market properties virtually overnight.
In comparison, off-market sales are an (almost) hidden secret - in the best of ways.
With off-market sales, sellers can save money on advertising and similar costs, avoid the hassle and stress of auctions and enjoy some privacy - both financial and in terms of minimising sticky beaks looking through their home.
Buyers can beat the ever-increasing rush to find their dream home and enjoy less competition.
We don't like to sound biased but we think it's little wonder that people are turning towards off-market sales.
While there are few statistics and data to confirm how many properties sell in this way, sales agents are now selling 5%-35% of their properties this way, according to our research.
Yes, there are still risks to buying or selling this way with off-market sales sometimes believed to achieve a lower purchase price than an on-market one.
But in today's very exciting market, this is unlikely to be the case with chomping at the bit buyers eager to cut to the chase. And, a good agent will never allow a property to undersell!
How off-market works
Firstly, there are two kinds of off-market sales: pure off-market sales, when properties are not being advertised anywhere, now or in the future, and pre-market sales, when a property is officially for sale but is not mass advertised anywhere as yet.
This could be because the sales agent is busy preparing professional photos, signboards and similar details.
But both types of off-market sale periods are a perfect time for you to get in and snatch up the property before anyone else sees it on mainstream real estate websites.
Don't miss out!
Helping raring to go buyers get in first and stop missing out is why Listing Loop exists.
We offer you a chance to relax while we do all the searching for you, matching you to properties that fit your criteria - and all for free.
We've also made it simple and much cheaper for sales agents to sell their properties.
They can take photos of their property using their mobile phone and then start marketing it immediately with Listing Loop.
So, give us a call today at Listing Loop.
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