Properties with a clear, narrow buyer profile are most likely to succeed when sold off-market in Melbourne’s South East. While off-market sales offer privacy and speed, they rely on a direct match between a property and an active, qualified buyer already on an agent’s database – a broad-appeal home is better suited to a public campaign.
What homes suit an off-market sale?
Premium family homes in tightly held Officer precincts perform well off-market, particularly where KR Peters has active buyers who have recently missed out. Investment properties with long-term tenants appealing to a specific investor profile also suit this approach, as do townhouse projects where a developer’s buyer network can absorb stock. Finally, homes where the seller has personal reasons for keeping the sale quiet are often sold successfully off-market.
What about homes that need broader exposure?
Broad-appeal family homes in the $600,000 to $780,000 bracket in Pakenham and Officer generally benefit from the competition a full public campaign creates. Properties where the price target requires two or more buyers competing are also better suited to a public campaign, as are any homes where the ideal buyer isn’t already in a local agent’s database.
The honest reality
Less market exposure can sometimes mean a lower price. However, this isn’t always the case, particularly when the right buyer is already in the database. KR Peters typically recommends a 7 to 14 day off-market test first. If strong interest doesn’t emerge, we recommend moving to a full public campaign rather than leaving money on the table.
Questions to consider
- Does your property appeal to a very specific type of buyer, or is it likely to attract a wide range of interest?
- Are you comfortable potentially achieving a slightly lower price in exchange for privacy and a faster sale?
- Do you have a firm timeline for selling, and how important is it to move quickly?
Talk to KR Peters for a straight-talking appraisal with no obligation.
krpeters.com.au
Market information is general in nature and reflects conditions
at the time of publication. For advice specific to your property,
contact KR Peters.