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Why leading agents sell properties off market

July 25, 2021

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Leading agents acknowledge that off-market sales can include all the usual forms of marketing other than advertising on the mainstream portals. A smart off-market strategy can help you sell faster, secure a premium and turbo boost your referral business. It gives you another string to your bow.

With off-market you can still promote your sale through a signboard with a SOLD sticker, generate attention via social media or share your results with your database. Off-market sales is an efficient way for you to dominate market share by tapping into the serious buyers that this approach typically attracts. Often this is people that are looking to buy within three months and those who are prepared to pay a premium to avoid missing out. By understanding this, agents with excellent negotiation skills can use off-market as a tactic to set off a bidding war to get the best price.

Agents that sell off-market tend to stand out from the pack as they’re not just implementing the typical VPA. As a result, this boosts their referral business. There is no greater form of marketing than word-of-mouth from a happy vendor, especially one that has sold above asking price, maintained their privacy and avoided vacating their home twice a week for open for inspections.

A number of leading agents are saying that off-market is also strengthening their relationships with vendors by building trust, demonstrating transparency and by acting in their best interests. They help their vendor avoid anywhere from $5,000 - $15,000 in upfront portal and advertising fees while demonstrating the power of matching the right buyer to the right property. Mass marketing attracts more eyeballs, however it only takes the one ‘right’ buyer to sell a property.

Not all sales will happen off-market, but it does give you the option to then go on-market. If you go on-market first and the campaign is unsuccessful, it’s harder to hide the results and achieve a premium. An off-market campaign can be used as a huge leverage point for a looming on-market campaign. If a buyer really wants a property, they can be enticed to pay a premium before the property goes on-market and is seen by other competing buyers.

Off-market is no longer just an industry term. This market is unlike ever before and it’s demanding that vendors, buyers and agents all look towards refreshed ways to sell and buy property.

Off-market sales are made easier through tools such as ListingLoop.com.au, Australia’s leading marketplace for pre-market and off-market listings. Agents are using ListingLoop.com.au to sell faster, secure a premium and turbo boost their referral business.

By Rhett Dallwitz, CEO ListingLoop.com.au

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