Nicola Kelland - Off Market VS. Marketed

You might be thinking, it would be nice to sell my property “off market”. Less hassle, no open homes and more privacy. But is this best way to achieve the highest price? All we can say is yes, sometimes but certainly not always! We have all heard the stories in the market about the agent who knocked on the door and had a buyer for a property just like yours. In some cases fantastic results have been achieved without taking the property to a full marketing campaign. Or an agent has a number of buyers who have missed out on another property similar to yours and they bring those purchasers through which results in a straightforward sale. For many owners this is an ideal scenario, but how do you know that you are achieving the best possible price in the market?

We have similarly heard a number of stories lately where properties have been sold either “off “ market or very quickly into the marketing campaign, then within a matter of a couple of months have been re-sold for a much higher figure having been marketed fully. One has been recently reported in the New Zealand Herald, a property which had sold pre auction for $1,000,000 in November, resold in February this year for $1,120,000.  Another in Remuera sold at the end of October last year after only a few days on the market at $1,500,000 and was re-sold in December at auction for $1,680,000. Neither property had been improved between sales. Clearly the original owners of these properties have missed out on a substantial amount of money.

So how do you know if you should sell quietly or take your property to the market. Obviously the experience of the salesperson and their knowledge is vital, if they work predominately in your market then they should have the knowledge to advise you. If your property is located in a residential complex of apartments or townhouses, it is much easier to determine the market value as the similarities between the properties give a very clear indication and in these cases it might be the right way to sell. Unique properties also fall into this category, if you have something very special and there is a buyer out there wanting just what you have, they may pay a premium to secure the property, if that buyer is in the market to buy when you want to sell.

In either event, it pays to ask for advice, we would love to help you and give you an honest opinion.