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off market property
What is an off-market property?
We classify them into the following categories:
True off-market properties – These are properties that have never been advertised on any website, have no professional photos or floor plans. The owner wants to sell directly, without a sales agent, or sell through a sales agent but without making the information public.
Agency off-market properties – These are properties that are advertised by the sales agent, but only on their website, database or over the phone. Marketing materials have been produced and posted publicly, but there is no paid marketing on Domain.com.au or Realestate.com.au.
Pre-listing off-market properties – This is when we access a property that was scheduled to be listed on a public website, but we gain access before the property is publicly listed. This could be a day, week or months before the property is listed on the main website. Get ready before the competition, get ready before the competition shows up.
Why would someone choose an off-market property?
There are many reasons why an owner would choose an off-market property and not advertise it. What are the reasons?
Privacy – The owner may be going through a divorce, or be the CEO of a public company, or a famous (or notorious) person. They may want to keep the sale a secret from neighbours, family/friends. Anry Zhong has inspected properties where the art is worth more than the property itself and they will not take anyone unless they are qualified.
Testing the waters – Sometimes sellers don’t want to sit on the market for too long. By doing an off-market sale, they can test the market, see what buyers are interested in, and see if their value is reasonable in the market. We are seeing a lot of this right now where sellers are looking well above market value and are trying to see if that is feasible. Often they will decide whether to list the property publicly now or later.
Create a sense of exclusivity. An off-market sale can attract buyers and buyers’ agents because it looks unique. Always check comparable prices and don’t overpay just because it’s an off-market sale!
Timing – In a hot market, timing is critical when buying or selling. Sometimes sellers buy a property and want to sell quickly so they can buy and sell in the same market with less risk and worry. They don’t want to waste time on marketing campaigns and just want to find the right seller as soon as possible.
“Make me move” price! Sometimes, an owner may get a knock on the door from a buyer or buyer’s agent who offers what we call a “make me move” price. This price may be above market value, but the buyer may want the home so badly that they are willing to pay a premium for it. This can be sold directly off-market.
Over the years, we have seen more reasons to choose to sell a property off-market. But remember, there may be good value even if it is not sold on the market, so do your research, know your market, and make sure your buyer’s agent is not pushing you into an off-market (pre-listing) purchase just to make a commission (or a higher commission).
the best time to purchase
This time last year, you were almost ready to buy your dream home, but house prices had almost peaked, with houses and condos selling for well above their reserve price. This quickly left you out of competition for almost all of the homes that seemed to fit your budget when you initially searched online. Now, it seems like all the listings have disappeared, but we can assure you that this is not the case.
Is 2025 the Worst Time to Buy a Home?
If you keep hearing that 2025 is not the year to buy a home, have you ever stopped to think about why this is the case and whether this statement is relevant to your situation. While interest has undoubtedly had a considerable impact on life as we know it, it doesn’t actually have a negative impact on everyone. For most homebuyers, now is never the “best” or “right” time to buy a home, as buying a home will not only use up a large portion of your savings, but it will inevitably mean that you have to take out a loan that may be the largest loan you will ever take out in your lifetime. So, if you are wondering when is the best time to buy a home, we would like to advise you that given that interest rates are at an all-time low, now is definitely not the “worst” or “wrong” time to consider buying a home.
Why is the supply so limited?
Now that you’ve waited a while, watched properties come and go, and maybe even attended an auction or two where the starting price was above your budget, you’re ready to find your next home. Whether it’s your first step into the property market, adding an investment property to your portfolio, upsizing or downsizing, whatever your situation, you’ve decided to buy your next home.
Yet, for some reason, your search results still don’t seem to have the right properties, or you’re not getting the right price, which is when a buyer’s agent comes in.
Advantages of a Buyer’s Agent
We can assure you that almost all of the properties you see online, we found them first. Our valuable relationships with real estate agents allow us to visit properties before they hit the market and recommend them to our clients. But you may have noticed that there seem to be fewer properties coming to market. Whether it’s sellers impacted by the pandemic looking to reduce the number of strangers who visit each week, or painful and complicated divorces where both parties want to get their property sold as quickly and quietly as possible, the demand for off-market transactions has grown rapidly this year. Last month alone, over 500 properties were added to our off-market database.
We arrange private inspections, walk you through the property, answer all your questions and turn pictures and floor plans into reality. With our extensive industry experience, we know how to calculate the true value of a property and only show you properties that fit your budget, saving you from being disappointed by unrealistic price guides. Best of all, once we find your dream property, we not only negotiate or bid on your behalf, but we also do all the due diligence, so you can enjoy your new home with peace of mind!
Whether you are an easy-going person or you like to be in control, we can help you take the stress out of finding, negotiating and buying your next property and add to your portfolio.
Some interesting property information –
The apartment market is expected to see a huge influx of units, providing a great opportunity to invest and create capital growth.
It is a great time for first home buyers to enter the market as the grant has been increased to up to $800,000 (previously $650,000).
Buyers agents can provide accurate property prices, rather than unrealistic guides like those on realestate.com/domain.
Buyers agents can find those hard-to-find properties through off-market, pre-listing or door-to-door sales.
As sellers look to reduce foot traffic at their properties to stay COVID-safe, fewer homes and condos are being advertised.
Let our team assist you with your next investment home purchase – fill in your details and we’ll be in touch!
Are you a fan of rightsizing?
Looking for a home that is easy to maintain? Spacious living space? Want to live near the city? But you’ve had enough of big houses – then you’re trying to rightsize!
“Upsizing” and “downsizing” are two words we hear a lot in the real estate industry. Young families tend to upsize because they need more living space for extra children. Older families tend to downsize because the children have left home and they don’t need a big house to support themselves.
So what is rightsizing?
As the population ages, we are seeing a growing demand for homes that can meet their lifestyle needs while also being able to downsize. According to a residential research report, rightsizing is on the rise as the luxury apartment lifestyle dominates the Australian residential market.
We are finding that active retired buyers are no longer looking for two-bedroom apartments, but want a smaller property with the proportions of a detached house. These “right-to-home buyers” still want three bedrooms, and since parking is almost impossible in the east, they also require two parking spaces.
At Anry Zhong Buyers Agent, we can guide you to the “right-to-home”. Often, you need to think beyond your specific requirements to find your next home. We have helped past clients find the right home for their situation. Even if the kids have left home, you need to consider noise factors, caring for grandchildren, having your own private space, and maybe even the possibility of needing an elevator or building amenities in the future.
Times have changed, and your “right-to-home” home may be a brand new semi-detached or detached house that you may have never considered. Let our team show you the many property opportunities on the market that meet your needs and requirements.
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