For anyone not familiar with the property sector and its specific language, ‘off market property’ is a mysterious and somewhat baffling phrase… within this article we will explain how to find an off market property. The vast majority of property sellers will contact a local estate agents in order to advertise their property, both online and in a high street window. Currently, these are often the most common methods for reaching as many potential buyers as possible.
What Is An Off Market Property?
However, in recent years an increasing number of owners prefer to keep their property sale private and so do not advertise in the normal places. These are known as off market properties. Often these are one off or more expensive properties or could be individuals who would prefer to move quietly or who are seeking a quick sale with minimum disruption. These could be offered privately by the seller who may approach Property Finders direct, or through estate agents who will only offer the property confidentially to Property Finders who they know often act for clients who can proceed with the purchase quickly and discreetly. In some highly sought after locations off-market sales can count for up to 25% of the market.
An off market property owner may still employ an agent to handle their affairs but simply request that they do not advertise the property. Alternatively, well-known individuals and local businessmen often wish to avoid media involvement and the subsequent publicity, as well as numerous strangers trying to arrange a house viewing. Similarly, landlords can be wary of spooking tenants unnecessarily if they just want to get a sense of the market.
How To Find An Off Market Property
Some properties are so sought after that offers are made and a sale agreed, before any related marketing material can be produced. In competitive housing markets, such as London, properties can be easily sold without the need for brochures, window listings or ‘For Sale’ signs. This is especially true of higher value properties worth over £5 million.
The easiest way to find off market properties, is to employ the services of a property finder, like us. Any good, well-experienced property finder will have built up strong mutual relationships with local and national estate agents. Estate agents are far more likely to tip-off reliable property finders about upcoming opportunities than members of the general public.
Buying Agent Partnership has a wealth of experience in finding off market properties. Contact us on 0330 223 6339 to discuss how we can help you.