What is Selling 'Off Market' or 'Discreet Marketing' Ask The Experts 

What is Selling Off Market? 
Selling Off Market has gathered momentum especially since the pandemic in 2020.  The demand for properties in certain road and types of housing have always been in high demand.   Off market selling gives a seller a chance to plan their move in a timescale which can suit them without the property being on the open market attracting many buyers who may not be as serious as a off market buyer.

Reasons for selling off Market 
There are several advantages for selling off market.  These can vary depending on a homeowner’s motivations and time-pressures.   Kerr and co have over 30 years’ experience and know that time pressures, family circumstances, work and job opportunities can have a stressful effect on sellers which can affect the flexibility and timing of many sales.  So much so, it can make the process to stressful to proceed for some individuals. Therefore to elevate this, 'off the market' properties can manage when the property is marketed by inviting only those buyers who have been qualified as a good match to the property and in a position to proceed - many owners feel more in control of the sale and negotiations.

What properties are sold discreetly ?
Particular roads and areas have been targeted by prospective buyers which have resulted in a waiting list of available properties for sale .  Good family houses in desirable roads near good schools and transport are often marketed discreetly.  Flats in central locations with leisure, open space and good transport are popular with young professionals and in high demand.  Unmodernised homes with potential for development and expansion are very desirable but can come with complications so off market suits this type of property as suitable buyers with experience and knowledge are best to ensure the sale goes ahead with few complications.

Off market has its positives, but also its negatives.  As there will be a select buyers to view the property there will be less offers.  Details can be limited as the owners may want only essential information being released property portals and other public platforms limiting marketing coverage.  Time scales maybe also be restricted to certain times to suit the sellers’ circumstances.

However, saying all that we have seen many off-market property being sold quicker and with less hassle as there is more motivation from both the buyer and seller to complete the sale.

If you are thinking of selling your property off market what should you be aware of ?

You may be wondering who your potential buyers are and how this will affect your sale. Typically, off-market property buyers are in a good position and are ready to buy, meaning they have the cash funds, have nothing to sell or have sold subject to contract. Those interested are usually in rented or sold properties and cannot find what they are looking for online or are looking for the rarity factor. These buyers are usually in a position where they are prepared to wait until they find the property of their specific requirements and buy right away.

There are many reasons for deciding to sell a property off-market. A popular reason is when the seller does not want the hassle associated with a typical property sale. Selling off-market is a great way of achieving a sale with minimum stress as there are less viewings and it is more likely you will only be dealing with serious buyers. During the pandemic, we saw a trend of marketing properties discreetly which has been a popular option to avoid unnecessary viewings.

Another advantage is that the marketing can be tailored to the 'off market buyer'  If it is not the best time of year to take photographs of the property, your agent may generate an interest in the home before the marketing materials are ready to be produced. Pre-marketing a property can also be used to trial a higher asking price to buyers before officially placing it on the market.

Another reason to sell off market is the fact we have had cases, that some people prefer to remain private and do not want the public to know that they are selling their house or what price they are looking to achieve.

If you are ready to buy a property but cannot find the home of your dreams through the popular property portals, you may want to consider looking for off-market properties. Here are the main ways of finding off-market properties:

Choosing the Right Estate Agent 
A good agent should know their applicants and their requirements well to secure you a quick and simple sale. Your estate agent will contact the appropriate potential buyers directly with your property and organise an agreed exchange date so the process is moved along and agreeable to all - communication is key .

Approaching an owner or word of mouth 

If you are a cash-buyer and have found the property of your dreams, but it is not on the market, it is possible to approach a homeowner and make an offer to purchase their property. However, this approach is high risk, and it is important to remember this is something that should be done delicately, as not all homeowners will appreciate your offer or interest.  Kerr and Co have the experience and knowledge of how to most effectively contact a homeowner with your offer, as many of these situations will need professional and legal advice.

Portals
If your Estate agent has not received much interest in your property through their database of buyers, then discreetly marketing your property on portals can attract applicants.  Kerr and Co have a long relationships with the property portals and others who market discreetly.  


How to choose the right estate agent to market your property Off Market?
It’s important to get to know your estate agent and that they have experience in dealing with off-market properties.    As discreet listings are not publicly marketed, it can be difficult to tell which estate agent will be right for your situation. Agents who are successful with selling homes on the market may have little experience dealing with off-market properties and could cost you your time.   Kerr and Co have an extensive client base and 30 years knowledge of what buyers are looking and when, our years of experience can help with complicated circumstances and situations so are fully aware of how to manage client and buyer expectation. 

Here are a few questions to ask an estate agent before instructing them:

• Has your estate agent dealt with similar off-market properties before?

• Can your estate agent demonstrate other successful off-market sales?

• Does your estate agent have potential buyers in their database already?

• How will your estate agent be marketing your property?

• How long might your property take to sell - given the current market conditions?

Kerr and Co have an extensive client base and knowledge of what buyers are looking for our years of experience can help with complicated circumstances and situations, so are fully aware of how to manage client and buyer expectation. 

Contact us
If you are interested in buying or selling a property off-market contact chris@kerrandco.com or phone 0208 743 1166 to have a conversation on what method of marketing your property is best for you.