Se­cret sell­ing is worth con­sid­er­ing if you want dis­cre­tion

Yorkshire Post - Property - - PROPERTY -

sell it­self, you need some­one who is en­thu­si­as­tic, sees the pos­i­tives and will add real value.

There’s noth­ing new about this ap­proach; high-pro­file in­di­vid­u­als have long recog­nised the ben­e­fit of keep­ing their prop­erty away from the pry­ing eyes of the open mar­ket. Some­times peo­ple sim­ply want to be dis­creet and don’t want to open their af­fairs to scru­tiny by friends and fam­ily. As with most things in life though, there are def­i­nite pros and cons.

From the buyer’s per­spec­tive, there is a cer­tain feel­ing of ex­clu­siv­ity as­so­ci­ated with a prop­erty that’s for sale off- mar­ket, and that buzz may ac­tu­ally help to gen­er­ate even more in­ter­est. Buy­ers in gen­eral like to feel they are get­ting ac­cess to some­thing ex­clu­sive that only a hand­ful of peo­ple have seen. This can make the prop­erty seem rare and may en­cour­age an of­fer more read­ily.

For the seller, it’s an ef­fec­tive way of lim­it­ing view­ings to known or vet­ted buy­ers, thereby elim­i­nat­ing the age-old prob­lem of win­dow shop­pers or time­wasters. An off-mar­ket sale also elim­i­nates any em­bar­rass­ment fac­tor that might come on the open mar­ket with hav­ing to lower your ask­ing price or fail­ing to sell.

The po­ten­tial down­side to sell­ing off-mar­ket is that the prop­erty will un­doubt­edly be shown to fewer buy­ers. Also con­sider that as fewer buy­ers see the prop­erty, there is less com­pe­ti­tion, which could re­sult in a lower of­fer.

Across our of­fices in York­shire, there are al­ways a se­lec­tion of prop­er­ties which are avail­able un­der the counter for a va­ri­ety of rea­sons. Hav­ing un­der­taken a num­ber of off-mar­ket sales my­self over the years, it is of­ten the ar­rival of the re­moval com­pany’s lorry which alerts the neigh­bours to a sale.

In or­der to suc­cess­fully im­ple­ment an off-mar­ket sales process, your agent needs to have an ac­tive list of prospec­tive pur­chasers who will re­act pos­i­tively to an ap­proach.

A rep­utable es­tate agent will have devel­oped close re­la­tion­ships with buy­ers and to have built up their trust and con­fi­dence suf­fi­ciently to and un­der­stand their re­quire­ments and en­cour­age them to look be­yond their set cri­te­ria.

So, which is the best op­tion? Con­sider ex­pec­ta­tions on both sides; how se­ri­ous is your prospec­tive buyer? Are you on the same page when it comes to price range? Buy­ers may won­der if they’re paying too much, while sellers might worry they could get more money on the open mar­ket. This is the risk both par­ties take in an off-mar­ket deal. At the end of the day it is all about com­pro­mise.

If there is no need to pro­tect your iden­tity and there are no sen­si­tive is­sues sur­round­ing the sale, choos­ing the right es­tate agent and mar­ket­ing the prop­erty openly will usu­ally be the most ef­fec­tive route.

Choose just the one agent care­fully and make them work hard for you – and that means get­ting the best price pos­si­ble within an ac­cept­able time frame.

If you are sell­ing a prop­erty within a high-end price bracket then sell­ing off-mar­ket may be worth con­sid­er­ing. Many buy­ers at the top end will be rep­re­sented by agents who will have first ac­cess to prop­er­ties be­ing mar­keted pri­vately or qui­etly.

They will be able to in­vest time and en­ergy in re­search­ing and tar­get­ing the right in­di­vid­u­als for your home, en­sur­ing you only get se­ri­ous and suit­able buy­ers through the door from the out­set.

Tony Wright, Carter Jonas, Har­ro­gate, www.carter­jonas.

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