Initially, it may sound straightforward to go off-market for a swift sale with no fanfare or advertising, but in reality, is it wise?

Relationship breakdowns, financial reasons, deceased estates and those wanting a layer of confidentiality are often the reason to choose the off-market path.

It is understandable – and each situation can be unique – but you need to be across the potential pitfalls.

The first being a high possibility of achieving a lower sale price due to key buyer groups not knowing about the opportunity to purchase.

Put simply, no advertising means you miss out on the passive online market, which creates competition and drives your end sale price upward.

Avoiding advertising costs when selling off-market is risky. The cost of advertising is often incidental when looked at against the sale result achieved in a well-planned campaign.

‍The following questions remain in this type of sale:
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1. Was the market tested and the best price obtained?
2. Was due diligence undertaken?
3. Did you have a complete understanding of the current market?
4. Did the buyer have any sense of urgency to pay the best price?

Sales data is never up to date. Sales taken into account may be outdated in a very short time, especially in a moving market. 

Another downside is the limited ‘wriggle room’ for the seller when heading for an off-market sale.

The initial price you present could be either way over and ignored or severely under and snapped up by an eager buyer who has done their due diligence

We’re currently operating in a rising market, so why not make the most of it and open the home to the entire market and gain more interested parties? Doing so should result in maximising the price obtained, often substantially.

However, if you are wishing to sell off-market, Thrive can provide an opinion of the price range and other pertinent advice. Note: if you are seeking to purchase a property, we can offer the same professional service in our role as a buyers advocate.

Our mission is to help you achieve your real estate goals stress-free, no matter the situation. Contact us to learn more!