It is becoming more common for Mosman properties to be sold off-market, which means they are not listed or advertised to the general public. This can be due to the owner’s desire for a fast sale, or reluctance to open their home to the public. On many occasions, the seller has a public profile and needs their privacy.
While there is a risk that your ideal buyer will miss out, with the right advice you can have a successful sale without sharing your home with the world.
Here’s how to ensure you get a great price when you sell your Mosman property privately:
Understand your market
Before you decide to sell privately, talk to a real estate agent about current levels of demand in the area and determine how many buyers they believe would be interested in a home like yours.
The good news about Mosman is that it is currently avoiding the property slow-down other areas are experiencing. Homes and apartments are still breaking price records and with few people looking to leave the area, the waiting list of motivated buyers is ever-longer. Because of this, a private sale is less of a risk.
Find a proactive agent
To sell without a public marketing campaign, you need to enlist the services of an agent who is very proactive in their dealings with buyers. These agents are always making new connections, ensuring they speak to every potential buyer at other open homes, and following them up with a phone call to find out more about what they are looking for. They’ll have an up-to-date database of motivated, finance-approved buyers, both locally and overseas.
When it comes time to sell your property, your agent will have enough contacts to bring several parties through for an exclusive viewing. They’ll know ahead of time that these buyers either have kids who go to school nearby or that they recently missed out on a very similar property. Your agent will also have an understanding of these buyers’ budgets and whether they are placed to make a competitive offer.
Your proactive agent will also have strong contacts amongst local buyer’s agents. They’ll be able to tip these buyer representatives off about the upcoming sale, widening the exposure without public marketing.
Understand your home’s value
As well as knowing how in-demand your property is and being able to expose it to as many buyers as possible without listing it online, your agent should be able to give you an accurate appraisal. Based on recent local sales and the attributes of your property, they will have a firm idea of what a buyer would be willing to pay for it.
When offers do come in from those who have been given an exclusive viewing, you and your agent can have a discussion about whether they match what the property is worth. In some cases, you may be happy with a faster, more low-key transaction in return for a slightly lower price. However, you may also want to discuss with your agent how the cost of advertising can be offset by the extra buyers a public campaign and auction could bring in.
Selling off-market is becoming a more popular choice as a way of reducing the disruption of the sales process. With the help of a well-connected agent who can instantly think of several people who may want your home, you should be able to get an outcome you’re more than satisfied with.
Looking to sell your Mosman property off-market? Get in touch with the team at De Brennan for tailored advice.