BUYING a property before it goes to market, known in the industry as a ‘silent sale’ or ‘back pocket listing’, is a great way to maximise your opportunities and minimise your competition as a buyer.
It sounds crazy that a seller wouldn’t want to get as much publicity as possible when selling their property but there are a number of reasons why a seller would want their property ‘sold in secret’:
Agents are also giving hungry buyers on their own databases a sneak peek before properties officially hit the market.
If you think about it, why would an agent sacrifice their time and invest their money having professional photos taken, developing a marketing campaign, spend hours uploading all the information to the web, arranging and conducting open homes when with one or two phone calls they can have an instant, pre-qualified buyer inspect the property and commit pen to paper - all usually within the first 24 hours or sooner.
As Gold Coast Buyers Agents, we network closely with the agents so that they are informed of our current buyers criteria - making sure we are one of the first that comes to mind when an agent lists a property matching our buyers criteria - so we get to ‘handpick’ the listings as they come through and the general public gets what's left.
Our apologies - but when you experience the frustration and disappointment of seeing your perfect property hit www.realestate.com.au or www.domain.com.au with ‘UNDER CONTRACT’ already on it, thats usually us as buyers agents that have done that!
A question we’re often asked is 'Do agents like dealing with Buyers Agents?'..... Of course! Find out why.
As awareness grows in the general public of Buyer’s Agents and what we do, many sellers contact us first, attracted by the fact they pay ‘NO AGENTS COMMISSION’ to us. We now have sellers contacting us multiple times a day with a property they want to sell - and we are their first point of contact before seeking the services of a real estate agent.
Although the practice has long been reserved for luxury and high end homes, finding and negotiating an off-market sale is becoming more prevalent in today’s booming Gold Coast Property Market with over 30% of the properties we purchase for buyers as part of our property buying services not openly advertised for sale - no matter the budget and price range.
The Buyers are winners with ‘Silent Sales’
It is a great way to beat the strong competition that properties tend to attract in the current buoyant Gold Coast Property Market where it is not unusual to have multiple offers on a property - and not just one or two, but often 5 or 6 - where they often sell well above asking price.
This means that, with less competition, the buyer has the opportunity to purchase at or below market value.
Potential purchasers are turning to buyers agents like Eureka Property Buyers Agents on the Gold Coast who have developed a strong network of agents, who make it their business to find these elusive ‘Silent Sales’. They will evaluate a property’s suitability, know how to fashion an offer attractive to the seller (and it may surprise you to find out it’s not always about the money) and set about negotiating the best deal.
Eureka's most recent 'Off market' purchase for a client. Southern Gold Coast. Purchase $25,000 below market value (based on comparable sales)
|One most recent example is Stephen and David, who just purchased this great little investment property on the southern Gold Coast.This is their third purchase utilising Eureka Buyers Agents in as many years. They sort the assistance of Nicole Marsh, a professional Property Buyers Agent, as being Aussie Expats, they wanted to capitalise on investment opportunities back home, but logistically just found it impossible to purchase remotely.Using their network of agents, Eureka sourced this 'OFF-MARKET' 3 bed, 2 bath, DLUG home on a 750sqm corner block for $530,000.With a recent sale in the street of $725,000 for a fully renovated property, there is plenty of scope here to renovate and add value down the track with it being a perfect layout for a garage conversion to a master bedroom or even enough space for them to build a granny flat in the back yard and almost double their income. With a tenant ready to move in at settlement at $540pw, it doesn't get much easier than this to purchase a property. Nicole secured the property on their behalf some $25,000 below market value (based on comparable sales in the area) - but this was a win/win situation for both the buyers and sellers alike, as the sellers too had found their perfect property they were very keen to make a move on.|
If you want to get ahead of the competition you need to become savvy and learn the techniques these industry professionals use.
Contact Eureka Property Buyers Agents to find out how they can assist you in finding these 'Silent Sales’ - Real Estate’s version of Insider Trading too.
|Nicole Marsh has been a buyers agent for over 13 years now and has purchased hundreds of properties on behalf of her many happy clients. She owns Eureka Property Buyers Agents which she started in 2009 and specialises in the Gold Coast and South East Queensland Property Markets.|