This market “hidden” is not a myth, it does exist and Aydat is obviously no exception. The tighter a market is (More demands than offers), the greater the volume of goods passing through the Off-market.
Here is some information “non-confidential” So “Off-market” : How these sales are orchestrated, of which only a few insiders are aware, and are these really good deals or bargains? ?
What is off-market ?
Off market, pocket listings or quiet listings or hidden real estate market, these are goods sold “and secret” outside the traditional real estate market. By definition you will not find these properties on real estate portals, nor on the real estate agency sites and even less on The good corner. No advertising, the sale is not visible anywhere and only made known to a restricted circle of potential ultra-qualified buyers.
What is the proportion of sales made outside the market ? Although it is difficult to precisely estimate the ratio, we know that it only totals a limited number of transactions compared to the classic market. If this hidden market only represents a limited number of transactions, less than 15% of total sales in France, It’s still enough to make it worth paying attention to..
You think this is reserved for certain properties in Paris, Lyon, Monaco or in highly rated neighborhoods ? If the practice was usually reserved for high-end goods, prestigious properties with rare and sought-after services, know that today it appeals to sellers of all types of goods. They want to sell differently (and better) or simply exercise discretion over their assets.
These very private and ultra-confidential sales : Good deals or not ?
You think that off-market necessarily rhymes with a good deal?, make no mistake, this is not always the case. So yes we find some nuggets there, more the goods are most of the time all overvalued, precisely because they are not on the market, a confidential sale gives the product rarity and an exclusive aspect. In addition, it is difficult for the buyer to know how long the property has been for sale., and how many visits there have already been, important point for a potential negotiation. If the buyer feels privileged he knows that in a dynamic market time is against him. To be sure of acquiring the property offered to them exclusively, he is reluctant to negotiate for fear that the matter will pass under his nose… In a very tight market, the buyer (often pushed by the real estate agent who praises him “exclusivity”) also does not want to compete with other buyers (Those from the regular market), he therefore risks buying an overvalued property. This poker move is quite common among hidden market sellers or real estate agents., they therefore attempt overvaluation. They would be wrong to deprive themselves of selling at high prices, in any case if the property does not find anyone at this overvalued price, an ad will then be placed on the internet and the property will then join the traditional market.
If we offer you Off-Market, be responsive, you must be able to position yourself quickly to respond to this opportunity. Be careful, however, to be well aware of the reality of the market, this is to avoid buying at a price too much higher than the real value of the property. Deja vu, a property put up for sale off-market at a price well above the current market, which then ends up in public announcement with an equally high price, it takes time to find its buyer and ultimately sells for less than if the price had been well assessed from the start. With good knowledge of the market, the seller will sell quickly and well, the buyer will find a property at a reasonable price.
How to find these popular and private sales ?
A house sold off-market will never be published on the internet, nor on agency signs, it must remain confidential (this is once again what adds a certain added value to it). To find this type of offer you must therefore proceed differently, get away from classified ads sites, and go hunting. You will have to spend time researching, it will go through the network, discussion and sometimes prospecting.
Most sales are made by word of mouth., a neighbour, a relative, a seller, direct sales between individuals… You will also find this type of property among real estate hunters, the best informed real estate agents and notaries. There are other very effective techniques for accessing this very private network, we will reveal some of them to you in a future article in the blog.