The secret market in Real Estate

If you are a buyer, where do you look for property? Domain? Realestate.com? Good start, but you are missing out.

So what is the secret Real Estate market?

It is not new, it has been around for a very long time, perhaps the biggest difference is that 'off market' sales are becoming more profound and are making up a much larger percentage of Real Estate transactions than they have ever done before, a new marketplace is evolving in Perth.

Off market sales have been happening for decades, they were perhaps best know as 'silent listings'. In the past, these homes were on the books of Agencies in the event a buyer showed up that was looking for exactly that type of property, they were often forgotten and not really worked on to produce a result for the seller, things have changed, this underlying market is gaining huge momentum and agents, buyers and sellers are driving it.

Off market property is defined as a property which is listed with an agent however is not marketed via the traditional means. You won't find it on realestate.com.au or domain or REIWA, The only time you will find out about these properties is if an agent tells you about them or you notice a sign go up with a SOLD or UNDER CONTRACT sticker on them immediately, obviously it is too late by then.

As a buyer, you are missing out on an evergrowing marketplace of 'off market' properties by believing that all the properties available for sale are on the major Real Estate portals. A new marketplace is evolving that Sellers, Buyers and Agents are actively engaging in.

So why is this happening? A combination of factors including the huge expense that Real Estate portals have placed on Agents and Sellers to list their homes on their website, sellers whom would prefer a more private transaction by way of only qualified buyers viewing their home and Agents becoming more skilled with the collection and use of their database.

So how do you find out about these properties? Get to know the most active Agents in the market you wish to buy in, make your intentions well known that you are seeking a specific property within a specific budget and let the Agent know that you are in a position to buy when the right property comes along. Perhaps even suggest that if they had any off market opportunities, you would be interested in viewing them.

If you are looking for something specific or if you have a property that you would like to discuss with us on how to make available to these buyer, drop us a line below.