What is aN OFF MARKET PROPERTY / SILENT SALE?
A “Silent Sale” or “Off-Market Property” are properties marketed by a vendor through other methods rather than advertising on the internet or in newspapers. Silent Sales don't attract as many buyers and sometimes you are the only buyer, which ends up limiting the competitive environment, therefore allowing us in most cases to negotiate a lower purchase price.
Did you also know that these Silent Sales/Off-Market Properties can account for up to 60% of properties available for sale? At PK Property, our clients get access to what's truly available for sale, not just what's advertised in the papers, or on the internet.
DID YOU ALSO KNOW?
When you attend a property inspection and speak to John, an agent at ABC Real Estate and advise him of your buying requirements, most buyers think John goes back to the office which could have up to 30 salespeople or more, and puts your name into a buyer database and shares your requirements with everyone else in the office. In nearly all cases, this doesn't actually happen. Approximately 95% of Real Estate Agents work on contract and run a 'business within a business', so they don't share any information on buyers or sellers with anyone else in the office. When they claim you as a buyer, you are their buyer and no one else's. So basically you are relying on one person in an office to deliver you an 'Off-Market property/Silent Sale'. So, if you do the numbers you go to 4 opens on the weekend and speak to 4 agents you could be missing out on speaking to up to 120 agents in the area you are looking to purchase in. This means that from Day 1 as a buyer, you are disadvantaged in not being exposed to multiple agents and 100% of what's truly on the market.
With PK Property, our experienced Buyer's Agents are phoning and emailing your brief every day to the 30 agents plus in that office, AND every other real estate office in the area you are looking at purchasing in, casting that net far and wide to find you multiple Off-Market/Silent Sale properties to choose from.
What are the key benefits for our clients purchasing a silent sale?
In some cases a vendor is prepared to take a fair, or lower than fair market value for their property for the following reasons:
- So they can avoid expensive advertising & Auction marketing campaigns
- So they can avoid stressful open house inspections
- So they can keep confidentiality and security at a maximum
- So they only deal with qualified buyers
- So they reduce agent selling fees, or pay no fees at all
- So they have a hassle free property sale
How does PK PROPERTY Find these silent sales?
- Real Estate Agents call us first before they list a property for public sale
- PK Property send out your property brief to our database of around 5000 agents
- Sellers know to call us with their property before listing it with an agent for sale
- Past clients call us before they sell, to see if we can match any of our present clients to their property
- Through our relationships in the industry, we will instruct a local real estate agent to specifically door knock or letterbox drop your favourite street to find you your dream home or investment property
- When we sign a new client in most cases they have a property to sell once purchased
For information about the best service for you to uncover that elusive 'Off-Market/Silent Sale' property, please see our Services and Fees page.