Selling `Off-Market` - is this right for you

Date Published 05 March 2024

In the ever-changing market of real estate, the conventional practice of selling property through public listings isn't the sole avenue available. An emerging trend of gaining traction among sellers is through the off-market approach. This offers a plethora of benefits for those seeking speed, convenience, and privacy in their property transactions; however, this method may not be suitable for everyone.

So, what does it mean to sell off-market, why is this attractive to select sellers, who is buying off-market, and how is this non-traditional method not suitable to every seller?

What does it mean to sell 'off-market'?


Essentially, selling off-market involves discreetly showcasing your property to a select group of potential clients. This method allows sellers to maintain privacy, take more control over the selling process, and obtain a feel for the market before committing to a public listing.

Why is this attractive to particular sellers?


This may entice a particular seller who prioritises speed and convenience. By diverting the traditional route of listing publically, sellers can ‘test the waters' of the current market to gauge interest, and potentially secure a faster sale.
The pressure is off when selling off-market, whereas with listing publically, there is a clear start and end date. And, if you're searching for the right buyer then you can take as much time as you need.

Who wants to buy off-market?


Buyers seeking exclusivity, unique properties, or a competitive advantage in a saturated market are drawn to off-market opportunities. According to Hamptons, 20% of London properties were sold off-market in 2021and expect this trend to increase.

How is this method not suited to everyone?


Although there are clear positives to selling off-market, it is vital to understand the drawbacks of choosing this non-traditional method.
Fundamentally, since off-market sales are not advertised widely, you are not attracting as many potential buyers, and this could result in lower offers. Without traction from a large group of buyers, you will miss out on competitive bidding. Therefore, if you're looking to secure the highest offer then you should stick to listing your property publically.
In turn, this can prolong the selling process as finding the right buyer can be tricky if agents are relying on a weak network of connections.

To summarise, it's essential for sellers to evaluate their priorities, market conditions, and the potential trade-offs associated with selling off-market before making a decision.
Its best to consult with a qualified real estate professional. At Ashdown Marks, we offer a made-to-measure service to determine an effective selling strategy in line with your specific requirements.

If you're considering selling your property and you're pondering where to start, please feel free to contact our sales team, Christopher and Edward. We pride ourselves on understanding the dynamic market to help you choose a suitable method. Traditional or not..

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