QUEENSLAND’S property market is undergoing a secret boom as off-market property listings spike, according to Universal Buyers Agents.
Universal Buyers Agents property expert Darren Piper said 50% of his purchases are now off-market, as sellers look for new ways to sell their properties.
“We had a record quarter of property purchases recently and that has largely been driven by a large spike in the number of off market property sales,” Mr Piper said.
“A lot of vendors are starting to entertain the idea of an off market sale because they’re not ready to commit to advertising spend in what they see as an uncertain market.
“But while the number of official listings are still in short supply, the reality is that more than 30% of sales are now taking place off market through a network of buyers agents and vendors across all price points.”
Off-market listings are homes for sale which are not listed online and only shared with a real estate agent’s database of certified buyers.
“A lot of vendors have been asking what happens if we spend $5000 on marketing and we don’t sell?,” he said.
“During COVID-19 a lot of people were nervous about selling their home. Vendors are now testing the waters off-market off the back of this.
“But in the last three months we’ve seen the largest number of off market listings we’ve ever witnessed in our careers.”
“Through our network of agents we’ve been working hard to build up a database of these off market listings,” Mr Piper said. We usually have access to 250+ off market properties at any given time.
“Our buyers agents can then help them negotiate the sale, help them evaluate investment opportunities and navigate the ever-changing buying process.
Mr Piper said he expects the boom in off-market listings to continue to have momentum as sellers use it as a way to test the market before advertising it on traditional channels.
“A lot of vendors list off market before opening it up to a public sale four to six weeks later, it’s a way for them to test the waters,” he said.
“Queensland’s property market is very buoyant, with plenty of buying opportunities, we’re just doing things a little differently.”
To register for access to the off-market database visit universalbuyersagents.com.au
For media queries, photographs or interviews: Contact Darren on 0423 853 771