In the bustling Brisbane property market, buyers often find themselves at a crossroads. The choices are abundant, but the path to the perfect home can be winding and uncertain. Should you explore off-market listings, or is the well-trodden on-market route the key to your dream home or investment property?

Many buyers come to us because of our access to off-market properties. There is always this desirable mystery with something untouchable, and in many cases, off-market properties can be just that.

Off-market properties now carry a perception that they are all great deals. However, sometimes, the best options are on-market, if you know where and what to look for.

Below are three reasons why on-market properties can still be greater opportunities:

1. Selling Campaigns = Selling Timeframes

In a competitive market, time is of the essence. When a seller places their property on the market, there is often a timeframe they are working with. For a buyer, this can play to your advantage as many sellers want to ensure a sale before their timeline is up. This can lead to more negotiating power as the sellers don’t want to be left without any buyers. On the other hand, off-market properties have no timeframe, allowing them to sit there with the sellers waiting until the right offer comes along. In these cases, you would need to pay top dollar, potentially over market value, to secure the property.

2. Market Value

When properties are listed off-market, there can be a number of reasons why. However, rarely does this reason mean they need to fire sell, resulting in a great deal for a buyer. On the contrary, we find many off-market properties to be overpriced as there is not a pool of buyers to condition the market expectation to the sellers. When it comes to on-market properties, the value of these homes is conditioned by the buyers based on the general interest the agent receives overall. While this won’t stop someone from overpaying for a property, it does provide a benchmark. The right property also needs to come at the right price. Buying on-market can increase the confidence in your offer that you are buying within market value.

3. Access to Exclusive Information

When a property is on-market, there is always an agent managing the sale. The advantage for a savvy buyer is that you can gain key pieces of information about the property through the agent. For our UBA team, building strong relationships with real estate agents pays off. Here’s why:

Agents share insights that are not typically available to the general public. This information often guides a clear understanding of market value and helps you to position a competitive offer. On the flip side, this information may also highlight features that are red flags as part of our due diligence process.

We learn about upcoming listings, price adjustments, and seller motivations, which are important in determining what and how to position an offer. For example, we may be able to craft a compelling offer with conditions rather than negotiating with price. A quick settlement or no building and pest conditions can play to our advantage and, in some cases, save money.

Debunking the Myth of Off-Market Properties

Regarding the perception that off-market properties are always good opportunities, it’s essential to debunk this myth. While off-market deals can be attractive, they do come with risks.

At the end of the day, being informed and doing the appropriate due diligence is important. It’s this information that empowers buyers to make smarter decisions in a competitive real estate landscape.

Our Recommendation

We look for ‘Pre-Market Opportunities’ as they offer the best of both worlds. They provide the exclusivity and first bid for a property, an opportunity for us to secure the property without competition, and the benefit of having an agent and well-presented home, which aids in gathering the important information we need to make a well-informed buying decision.