Access to Off-Market Properties in Brisbane
If you are looking for a property right now, chances are realestate.com.au and Domain are among your most visited websites. But beyond these websites, what if there was another option to discover the new luxury property of your dreams.
Although less common, off market properties do exist, including right here in South East Queensland. In a tight market, it could be just the solution you need for your property search.
What is an off-market property?
As the name suggests, off-market properties are not listed publicly - they won’t have a for sale sign out the front nor will you find them on realestate.com.au or Domain. In short, the seller has made a conscious decision with their agent not to publicly advertise or list their property.
There can be a variety of reasons as to why a seller decides to take this route, most often it involves either keeping the sale private or they simply don’t want the possible disruption and stress of a regular sale.
Off-market properties in Brisbane entail marketing and selling the property discreetly through a network involving the seller, a real estate agent, and the agent’s network.
Selling an off-market property in Brisbane is a two-step process. Initially, the seller contacts a real estate agent after he or she has made a decision to sell. The agent, in turn, reaches out to his or her network of contacts to see if they know any interested buyers.
Listing agents will engage potential buyers in their database to build interest in the property and to encourage those who may be a good fit to consider an inspection.
They will also reach out to buyer’s agents they know. More on this later.
Often this is a good test of the agent’s network. Not only within their own database of contacts, but sometimes they will also reach out to other agents to see if they have interested parties. Together they will try and find a buyer for the property.
This process can mean there is less competition for the property, however a well connected agent will still manage to secure a fair sale.
If the agent is unable to secure an off-market sale, quite often the seller will choose to proceed to a more traditional campaign. This will of course bring a wider cohort of interested parties.
Although there is no solid data, anecdotally off-market property listings Brisbane seem to have become more common since the COVID-19 lockdowns. At the time, many preferred to have fewer interactions with the broader public.
The rising cost of listing a property (online and in print) has also encouraged many to sell off-market.
Although they tend to keep their costs largely secretive, advertising a luxury home on a mainstream platform like realestate.com.au can cost thousands of dollars.
Why is a buyer’s agent the best source of off-market properties?
Buyer’s agents by nature are well connected, the best ones are natural networkers. They are not tied down by one agent relationship but instead work with numerous agents in order to get the best deal for their clients. Sometimes this involves interactions with agents regarding Brisbane off-market properties.
When an agent moves forward with an off-market listing, they will reach out to buyer’s agents to see if they know of anyone who may be interested in the property.
If the buyer’s agent has someone on their books who is a good fit for the property, they will spring into action and investigate the opportunity.
For the best Brisbane buyer’s agents, this would typically involve:
● Evaluating the property for market value, possible appreciation, condition etc.
● Negotiation.
● Completing necessary due diligence.
● Settlement support.
● After-sale support.
To understand the true value of a buyer’s agent, one has to recognise what their end goal is. Buyer’s agents seek to purchase the property that gives their client the best possible outcome. Agents are generally attempting to sell the property regardless of the buyer’s needs.
For this reason, only buyer’s agents will identify and shortlist the most suitable off-market agent properties for buyers.
The expertise, knowledge, and professionalism of our dedicated staff at Base Buyers Agency will help you find and purchase your dream home from both listed and off-market properties across Brisbane.
Our team at Base Buyers Agency has extensive knowledge finding off-market properties across South East Queensland. We can help you find the perfect property - regardless if it is your principal place of residence or an investment. Or whether you are from Queensland, interstate or even overseas.
Please join our waitlist today to start your property journey with Base Buyers Agency.