Sell discretely off-market

Over past 12 months, the most motivated buyers for homes in the best locations have literally been outbidding each other. Many buyers won’t even get the chance to view them as properties are being sold even before they hit the market.

Covid has undoubtedly played its part in exacerbating the off-market trend with sellers, mindful of rising Covid rates, restricting viewings of their property to only the most committed and qualified buyers.

Selling a home away from the glare of impersonal property portals is on the rise. In the first quarter of this year over 37,000 homes were sold off-market, up from almost 21,000 over the same period in 2019. In fact, there were more off-market sales recorded in Q1 2021 than in any quarter since 2007.

Off course this is nothing new to us, we have been successfully operating our Black Book, off market service since 1997!

An off-market, Black Book sale is one where the property is not marketed publicly – In LA the trend is known as Pocket Listings and traditionally, selling off-market has been the preferred route of the rich and famous. But this year, we have discreetly handled the sale of many unique spaces for all sorts of people.

Sellers of luxury and unique homes go off-market for many personal reasons. One is to protect their privacy and security; they do not want pictures of their home and their belongings all over the internet and many fear they may become a target by listing on portals like Rightmove or Zoopla. Others just do not want their neighbours virtually snooping around their house and knowing their business.

Another valid reason is to test an ‘ambitious’ price to see if buyers bite. When a property is publicly listed on the open market, property portals such as Rightmove, it shows when it came on the market and the original asking price.

Naturally, off market we can gage interest and if the property does not sell straightaway or the seller needs to reduce the price, then at least a seller would not have been exposed on the market, becoming old news.

When someone sells off-market, there is no record of how long it has been on the market. If it doesn’t sell off-market, they can still go to the open market – with potential buyers none the wiser.

With demand so high, homeowners of desirable homes are finding they don’t need to be exposed to the open market and may even get a better price this way, because purchasers may even pay a premium because of the exclusivity they are offered.

Covid may have created a wealth divide, which we are seeing played out in the property market. Sales are being driven by a few determinable factors, particularly properties with large terraces and gardens are really fetching a premium, and often we have had best and final offer scenarios.

The other advantages to selling off market, is the process is more orderly because there is a smaller number of people involved. Selling off-market means working with focused, well-funded, pre-qualified buyers who are generally cash buyers, with their finances in place. The process is far more professional and less stressful, nobody wants a bunch of tyre kickers traipsing through their beautiful unique home.

Interestingly analysis shows 31% of off-market sellers achieved over the asking price — compared with an overall average of 25%

If you would like a private consultancy, we would be delighted to have an informal conversation with you –

Sell discretely off-market

Over past 12 months, the most motivated buyers for homes in the best locations have literally been outbidding each other. Many buyers won’t even get the chance to view them as properties are being sold even before they hit the market.

Covid has undoubtedly played its part in exacerbating the off-market trend with sellers, mindful of rising Covid rates, restricting viewings of their property to only the most committed and qualified buyers.

Selling a home away from the glare of impersonal property portals is on the rise. In the first quarter of this year over 37,000 homes were sold off-market, up from almost 21,000 over the same period in 2019. In fact, there were more off-market sales recorded in Q1 2021 than in any quarter since 2007.

Off course this is nothing new to us, we have been successfully operating our Black Book, off market service since 1997!

An off-market, Black Book sale is one where the property is not marketed publicly – In LA the trend is known as Pocket Listings and traditionally, selling off-market has been the preferred route of the rich and famous. But this year, we have discreetly handled the sale of many unique spaces for all sorts of people.

Sellers of luxury and unique homes go off-market for many personal reasons. One is to protect their privacy and security; they do not want pictures of their home and their belongings all over the internet and many fear they may become a target by listing on portals like Rightmove or Zoopla. Others just do not want their neighbours virtually snooping around their house and knowing their business.

Another valid reason is to test an ‘ambitious’ price to see if buyers bite. When a property is publicly listed on the open market, property portals such as Rightmove, it shows when it came on the market and the original asking price.

Naturally, off market we can gage interest and if the property does not sell straightaway or the seller needs to reduce the price, then at least a seller would not have been exposed on the market, becoming old news.

When someone sells off-market, there is no record of how long it has been on the market. If it doesn’t sell off-market, they can still go to the open market – with potential buyers none the wiser.

With demand so high, homeowners of desirable homes are finding they don’t need to be exposed to the open market and may even get a better price this way, because purchasers may even pay a premium because of the exclusivity they are offered.

Covid may have created a wealth divide, which we are seeing played out in the property market. Sales are being driven by a few determinable factors, particularly properties with large terraces and gardens are really fetching a premium, and often we have had best and final offer scenarios.

The other advantages to selling off market, is the process is more orderly because there is a smaller number of people involved. Selling off-market means working with focused, well-funded, pre-qualified buyers who are generally cash buyers, with their finances in place. The process is far more professional and less stressful, nobody wants a bunch of tyre kickers traipsing through their beautiful unique home.

Interestingly analysis shows 31% of off-market sellers achieved over the asking price — compared with an overall average of 25%

If you would like a private consultancy, we would be delighted to have an informal conversation with you –