15 Oct Off-market property sales on the rise in Byron Bay
The popularity of Byron Bay is reaching new heights. City-dwellers are flocking into town. More and more celebrities are buying luxury properties in the area. And the sale of multi-million-dollar businesses such as The Farm, The Beach Hotel, and The Bower mean that media attention is high. The result? Demand for property has increased, shifting prices upwards and leading to a significant rise in off-market sales.
The reasons why you may decide to avoid openly advertising your property for sale are many and varied. But there are definite benefits when you’re looking to sell in a buoyant market.
Test the market
The knock-on effect of a high demand housing market is a rise in prices. This has led to an increasing number of property owners testing the water off-market. And the good news is, they’re getting offered prices they wouldn’t have achieved earlier in the year.
Off-market sales have always been popular with people who want privacy. For prestige clients, this is the number one reason why they reject the traditional marketing route. For these clients, it’s about avoiding the inconvenience of an open house and images of their home on the internet.
Business as usual
If you’re a landlord or business owner, selling off-market can be a good option. That’s because if you have a tenant in your property, you won’t be able to get access to prepare it for a photoshoot. Plus, a low-profile sale may be crucial, so you don’t lose income, or clients, while you look for a buyer.
Buyer’s agents on the increase
Not long ago, only prestige clients used a buyer’s agent. Not the case anymore. Today, busy people from all walks of life realise the value of getting an agent on board to find them the right property. Not surprisingly, this is a service that’s become very popular in 2020. And it’s a trend that has definitely contributed to the increase in off-market property sales.
The power of database marketing
A real estate agent’s database is their secret weapon. All successful agents know this. And, if you want to pursue the off-market route, you need an agent who knows the local market and has a database that’s rigorously maintained. That way, you can be sure they’ll have a rich resource to tap into, connecting you with highly motivated buyers.
Select your agent with care
If you decide to go the off-market route, you need to make sure you choose your agent carefully. Selling off-market isn’t just a case of shooting off a few emails to a list of contacts who might be interested. It’s a service that requires a full commitment by the agent to put in time and energy to match your property to the right buyer.
It’s time to get in touch.
You may decide that selling off-market is an option that suits your circumstances. If that’s the case, please get in touch. I have a deep understanding of the Byron Bay property market, a finely tuned database, and a wealth of personal relationships in the local area. All of which will be invaluable in finding you the right buyer.
For more information visit: https://www.edsilkbyronbay.com.au/offmarket/