Buying well in the Brisbane real estate market should be pretty easy right? The beauty of the city makes it a popular choice with many people anxious to make a move to its diverse, yet inclusive community. Opportunities abound, it offers some of the best weather in all of Australia and the properties available are affordable with ample options. However, when you’re up against other Brisbane home buyers it can be hard to see the best properties. You might even face challenges with multiple offers.
As well, savvy buyers have an edge over the competition because they know how to sniff out off-market properties. These little gems are unadvertised properties for sale. Because the general public doesn’t know about them, there’s a very limited group of buyers privy to their availability. But how do you get to see these hidden opportunities? Here’s how to find off-market properties in Brisbane.
Under Offer and Sold Too Soon
If you’ve tried to go it alone without a Brisbane buyers’ agent, then you probably know the frustration of seeing prime properties get snatched up way too fast. Matthew and Lisa were experiencing this first hand, with deals getting done and homes getting sold at an uncomfortable pace.
Your online searches reveal tons of properties but many already show up as “under offer” or “sold”. You’ve probably also found these properties are very desirable. When what appears to be a new listing is already sold or under offer, chances are they were off-market. It’s an old sellers agent trick. They use their own network to find buyers, sell or take in offers and then list the sold property to showcase their selling skills. This helps them attract new clients. But why are their Brisbane off-market properties in the first place?
Understanding Off Market Properties
Choosing to list a property off-market might seem like a bad decision on the owner’s part. Wouldn’t you want as much exposure as possible and therefore advertise with your sellers’ agent? Isn’t that the best way to get more offers and the highest price? The answer is a little wishy-washy: yes and no. Here’s why sellers might go the off-market route:
- Privacy: When people are forced to sell their property for personal reasons, they often don’t want to drum up too much attention from nosy neighbours or the community in general. That leaves only one option: sell off market properties.
- No Marketing Expenses: A very good reason to go off-market is that there aren’t any marketing expenses. This saves thousands of dollars on things like photography, home styling and real estate ads.
- Avoiding Home Inspections: While the home search can be fun for buyers, sellers get the dirty end of the stick. They have to keep their home clean and ready for those open inspections every weekend, sometimes for weeks on end. This can be a challenge for busy families, or people who just don’t want the hassle. When properties are off-market home inspections are greatly reduced.
- Less Stress: Selling is stressful with endless worry about getting the right price, constantly having to keep your door open for inspections, property upkeep, etc.
Off-market sales limit stress because potential buyers are qualified by the sellers’ agent. Since only serious buyers come to see the home, the sale is quick and painless. So, how do you find these off-market property opportunities?
Rub Elbows With Real Estate Agents
While you might have had bad experiences with aggressive sellers’ agents, real estate agents are your best friend if you want to learn about off-market properties. You have to create a circle of trusted agents who will think of you if an off-market property pops up. To remain top of mind:
- Check in often to be the first to hear of new opportunities
- Get on their mailing lists so you are invited to all of their open inspections
- Follow them on social media so you know about their new listings and upcoming listings
- Attend as many open inspections as possible, so agents get to recognize you and see you are serious about making a purchase
The only problem is, they’ll also think of you for every single property that they sell. That means you’ll be bombarded by calls. And the truth is you’ll need to be in contact with several agents because a single or even a handful of agents will still only provide insight into a shortlist of off-market properties. They also act in the best interest of their clients. So you might find yourself in the pressure cooker with sellers’ agents latching onto you in the hopes of making a quick sale. It’s easy to get pulled in by sellers’ agents and make some bad decisions without a buyers’ agent in Brisbane in your corner.
Hire a Brisbane Buyers’ Agent
This is by far your best option. A buyers’ agent in Brisbane builds a business to business relationship with fellow real estate agents over the span of their career. As a result, there is a higher level of trust. The best buyers’ agent Brisbane house hunters work with are always in on the latest options from their tight circle of agents. Buyers Agents always know about options sooner. These Brisbane buyers’ agents also specialise in finding homes for clients, as opposed to selling homes for them. They put your best interests first.
Buyer’s agents have relationships and don’t have to worry about high-pressure sales tactics. Instead, it’s a professional relationship, a two-way street if you will, that is mutually beneficial. You are off the hook when it comes to overzealous sellers’ agents desperate to make a sale for the highest price. Instead, Brisbane buyers’ agents keep an eye out for you and help you find a suitable property at the best price. They do their due diligence to find off-market properties and ensure the house, neighbourhood and price suit your needs before recommending an inspection.
At Locate Buyers’ Agency, we help you with where to buy property in Brisbane. Not only can we get you inspections for off-market properties, but our contacts often provide us with a sneak peek at pre-market opportunities. We see listings sellers are about to advertise so we have the opportunity to show them first. This is a win-win situation as sellers’ agents save on advertising costs, while our clients get to see things before other buyers.
Return to our Ultimate Guide To Buying Well In Brisbane.