Properties for sale that are advertised on Realestate, Domain, agent websites, etc are classified as “on market” and anyone can access these.  If a property is not advertised anywhere, then it is termed “off market”.

Off-market, technically, does not include properties that are currently awaiting final photography or styling, to then be listed on the market.  These are referred to as “pre-market”.

Why do people sell off market? Often it is a situation where their life circumstances mean they don't want people to know, e.g. they are well known in the media, they are going through a divorce, the property has a difficult tenant in it, or they are in financial stress. It also means they save money on advertising.  However, they may also not receive the same price as if they were listed on market.

Are off market properties a great buy?  Sometimes. If the property meets your requirements and you can secure it for a price less than you would if it was on the market, then yes, a great buy. However, if the property isn't what you want, then it's not a great buy, regardless of the price.

Where do I find off-market properties?  Buyer's Agents typically get first access to off-market and pre market properties as they have relationships with Real Estate Agents and are working with qualified Buyers. If you are not using a Buyer's Agent, then your best bet is to call a few local Sales Agents and ask them to let you know of anything that comes up.  Without a strong relationship, you are unlikely to be top of mind to the Sales Agent.

If you are looking to buy then be sure to download a copy of our free Home Buyer’s Guide.