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Off Market - Privately Available?

19th April, 2012
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In this week’s Country Life, I saw something for the very first time. An advertorial by a leading prime property Estate Agency, stating, that for every prime premium property they were openly marketing they had another available privately.

Privately, means that a buyer would not see this property on a property portal, in any publication, nor in an estate agent’s window. To get access to these properties a buyer would have to court an agent and demonstrate to them that they were an active and motivated buyer and in a financial position to buy.

In the advertorial, the agency claimed that sellers take this “private” or “off market” route as they value the reputation of the agent and their access to good buyers. Also, now more than ever, many value the discretion of a private sale as it does not draw attention to themselves, whilst others are nervous about the current market place concerned at bringing their property to market and it gaining a shelf life.

However, more & more property owners are taking a totally different route.

Andrew Findley, a Director at Elite Property Search says “as a buying agency we get access to all the on and off market property listed with agents. But, in this day and age, more and more sellers are, in the first instance, listing their property’s availability with buying agents often months in advance of even contacting selling agents. Now they are seeing buying agents as a direct route to pre-screened proceedable, cash buyers and by marketing it quietly and discreetly it allows them to test the market place for interest at no cost.

He went on to say “to generate privately available property information, when Elite Property Search are appointed by a client we contact all relevant property owners who if they are in the mood for selling, let us know. This approach often leads us to knowing about more opportunities in an area than all the selling agents combined”.

“For example when recently looking for property in excess of £2m in a specific area within Oxfordshire we found 15 properties above this price level that were either openly or quietly marketed with selling agents. After we approached relevant property owners, a further 30 contacted us who were willing to sell, meaning we had knowledge of twice as many properties as agents had, in total, to offer”.

“This meant that our buyer had every possible opportunity to consider and, with such comprehensive knowledge, was able to make an informed decision to ensure he bought the right property at the right price”.

In this day and age of internet and portals, many buyers think that this is enough to find their ideal home - but the truth is that, the transparency and accessibility of the internet, has pushed many more owners of premium prime property to sell their home privately.

For information of how Elite Property Search can help you with your property search and to gain access to privately available property please contact.

Central Office: Andrew Findley - tel: +44 (0) 1865 479980

South East Office: Tim Sharp - tel: +44 (0) 1483 256775

South West Office: Joe Nisbet - tel: +44 (0) 1202 766566

London Office: Max Storey - tel: +44 (0) 207 060 2338

or

email: info@elitepropertysearch.com

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About the Author
Tim Sharp
Tim Sharp is a director at Elite Property Search
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