Property Oct 18, 2021

How many off-market properties will you show me?

Buyer's Agent Inspecting off-market property Antoinette Sagaria
Buyer's Agent Inspecting off-market property Antoinette Sagaria

Those who have used a buyer’s advocate when purchasing property will know how much value they bring to the table in the form of expertise, relationships and negotiating skill. To some buyers, an advocate is simply a source of off-market properties, which may be to their detriment. How? Read on!

How many off-market properties will you show me?

This is a question our Melbourne buyer’s advocates often get asked; however, this is not the right question to be asking. A buyer’s advocate should be showing you the best property available to meet your brief; this includes both on and off-market property. By focusing on how many off market properties are being presented you may save yourself the hassle of having to attend lots of inspections and auctions, but you will also be limiting yourself and not actually buying the best that’s available.

Off-market does not equal a bargain

There are lots of reasons vendors choose not to list their property on the market. And in most cases, they certainly don’t want to sell it for less than its worth. It could be because they don’t want a crowd through their home and prefer a quiet private sale, the property may be tenanted which makes open homes a challenge or they’re in a rush and don’t have time to wait for a full marketing campaign to be created.

Another reason is that the vendor has unrealistic expectations of what they think they’re going to sell for. You might think you’re getting a bargain, when in reality, you’re actually paying a premium or what it would have likely achieved under competition.

Being off market doesn’t make it a good buy

Just because a property is not listed anywhere, doesn’t make it a good buy. There seems to be some misinformation floating around that buying an off-market property somehow makes it better. The truth is, irrespective of how a property is advertised (or not) you need to be assessing the property based on your criteria, recommendations from your buyer’s agent and after conducting your due diligence.

How can a buyer’s advocate help you?

A buyer’s advocate is not just there to find you property that’s not listed. Their main role is to ensure you buy great property, which is going to meet all your needs and ideally, become an asset that’s going grow in value over the coming years. No matter whether the property is on or off-market.

So, how many off-markets properties will we show you? As many as are suited to what you need, your price range and are available. This could be none or this could be ten. And you should be wary of a professional that makes a promise or guarantee on the number of properties they will show you.

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