Off-market sales still playing a role

Mention the term ‘off-market sales’ to many Melbourne residents and they often make the mistake of assuming that this is an approach that is only used for properties at the top end of the market, where high profile sellers and buyers are particularly conscious about privacy.

However, off-market sales are actually far more common that you may think and can be used for properties in all price ranges and areas.

If you are unfamiliar with the term, selling ‘off-market’ means that the property is for sale, but it is not promoted through the usual channels such as the real estate portals on the internet, or through the printed media.

An off-market property, on the other hand, makes use of the real estate agent’s database of buyers, with the agent contacting all those buyers who have registered their specific requirements. This is one reason it is so important to keep the lines of communication open with the agents you are dealing with, as keeping your cards too close to your chest can result in you missing out on an off-market property that could have suited you perfectly.

We were reminded of the role that off-market sales can play in the current market during the week when a property was listed and sold within 24 hours to one of the buyers who had registered their needs with our team.

The property in question was a modern three-bedroom unit in Curtin Avenue, Lalor. This appealing home offered two bathrooms and its own driveway, and had extra appeal for those looking for a convenient lifestyle as it was within walking distance of the shops and trains in Lalor, and had two large parks within an even shorter walk.

The fact that this property was successfully sold just one day after being listed, for a massive $575,000, shows just how effective an off-market sales strategy can be in the right situation.

As we have mentioned a couple of times recently, the coronavirus may have changed the way we are selling property, but it hasn’t changed the fact that we are still achieving outstanding results for so many local vendors.

If you are thinking about making a move, feel free to call us at Barry Plant Thomastown on 9466 3233. We’d be only too happy to assist if we can.

Best wishes,

Con Constantinou

Barry Plant Thomastown