Off-Market Properties: Not Quite the Secret Property Illuminati

9 June

Often, one of the first questions we're asked as a buyers agent is: "How many off-market properties do you get access to?"

It's a fair question. But somewhere along the way, "off-market" developed an almost mythical status. People imagine a secret underground network where buyers advocates and agents gather in dimly lit rooms, exchanging discounted Victorian terraces and period homes like they're trading underground Pokémon cards.

I hate to ruin the fantasy, but that's not really how it works. It's probably worth resetting one of the biggest misconceptions in property:

Off-market doesn't automatically mean bargain.

In fact, quite often it simply means the seller is testing the market at a price they'd like to achieve before exposing themselves to the harsh realities of buyer feedback. Some off-market opportunities represent great value. Some are fairly priced. Some are what we would politely describe as "ambitious."

The reality is that if a seller believes they'll achieve a premium result through competition, most will happily take their property to the open market and let buyers battle it out. We saw plenty of that during the COVID boom. When buyers were climbing over one another to secure property, vendors had very little incentive to keep anything a secret.

So if you're expecting a steady stream of hidden homes trading quietly for well below market value, you're probably going to be disappointed.

What you should expect is something much more useful.

More opportunities. Earlier opportunities. Better information.

A significant portion of the off-market and pre-market opportunities we secure for our clients aren't simply emailed to us by agents. They're sourced. They're chased. They're uncovered. And occasionally, they’re dragged into existence through sheer persistence.

We're constantly speaking with local agents, discussing upcoming opportunities, checking in on vendors who may be considering a move and keeping tabs on properties long before a signboard appears out the front.

One of our favourite strategies is working closely with leasing agents.

Why?

They often manage properties on behalf of long-term investors who may not have considered selling until the right opportunity is presented. Those conversations can uncover opportunities that were never intended for sale, until a motivated buyer and a willing seller are connected.

That's where the value lies.

Not in waiting for opportunities to land in our inbox.

In creating them.

The truth is, some of our best purchases started with a phone call that wasn't expected to go anywhere. Nine calls that led nowhere. The tenth bought someone a house. That's the bit people don't see. Our spreadsheets, the follow-ups, the relationship building. The finger exercises keeping that redial digit, in tip top condition.

Opportunities come from the conversations that happen months before a property ever appears online. The best off-market opportunities aren't usually hidden because they're magical. They're hidden until someone went looking for them.