Carla and I have sold more properties off market in the last six weeks than we sold in all of 2024. Six to be exact.
Back in the bull markets of 2017 and 2021 we would sell approximately one in six homes off market.
In 2023 and 2024 it was more like one in fifteen.
The hotter the market, the easier it is to sell properties off market.
When listings are tight and demand is high, buyers are very receptive to off market opportunities.
When the market is flat, and there’s a lot of choice, buyers are less receptive and cautious about overpaying.
I am not saying that we are currently in a hot market where the fear of missing out is rampant and buyers are falling over each other to bid and offer.
Far from it. But it has been heartening to have had so much success off market lately.
In 2025, buyers seem to have more confidence, particularly when they are seeing value.
I often get asked from buyers why would an owner sell off market?
It’s very good question. And like most good questions, the answer is not a simple one.
It takes more motivation and commitment from owners (both financial and emotional) to sell ON market than off market.
To go on market, you need to invest time and money in presentation and advertising – anywhere from $11,000 for digital only up to $25,000+ to add print ads.
If you also require painting, new carpets, maintenance, gardening, and styling, this can easily rack up to an additional $30,000 or more.
You also must invest in the process, which can be several weeks or longer of multiple inspections a week.
If you are living in the property during the campaign, it is no mean feat getting the house inspection ready for each open.
Whether private sale or auction, a selling campaign can be an emotional rollercoaster, particularly if buyer interest is limited or you don’t cope well with negative feedback about your home.
For some people, selling at auction can be as daunting and nerve racking as public speaking.
As agents our preference or bias is generally to take everything to market, as it gives us exposure and profile, our clients have some ‘skin in the game’, and buyers (and potential sellers) come to us.
For an off market sale, we need to actively find buyers by hitting the phones, texts and emails and scouring the buyer lists of recent sales of similar homes in the database.
We then need to persuade these buyers to take a leap of faith that the vendors are motivated, the price is reasonable and to get them to inspect, often without the aid of recent photos and/or a floor plan.
An off market campaign is very low risk to the vendors, but relatively high risk to us. If we can’t sell it, we don’t get paid. Sometimes we invest many hours or weeks of our time for no result.
For this reason, we will only run an off market process if we believe we have a reasonable chance of selling the home.
Roughly speaking, only about 30 percent of homes we try to sell off market end up selling off market.
The remaining 70 percent either go ON market (if the vendors are motivated enough), or they get put on the back burner until either the market improves, or their circumstances change.
As an owner, if you’re somewhat risk averse, don’t like the idea of going through a full campaign but have some resolve around what price you need to achieve (and are willing to be decisive if an offer is forthcoming), then an off market campaign might be a suitable strategy for you.
As a buyer, if you know what you want, are confident around values and have done your research, an off market opportunity can be a good way to avoid some of the competition of an on market listing.
As agents, we will continue to sell a significant amount of properties off market, because sometimes it’s in the best interests of our clients.
If you’re considering a move and would like to discuss an off market approach, please let me know.
Feature Property: 60 McGregor Street, Middle Park
David Sciola 