Find Unlisted Properties to Buy In Australia 2022
How Can I Find Unlisted Properties to Buy?
Shhh! Are you looking for the secret to finding unlisted properties for sale? If your search for a dream home feels never-ending, perhaps it’s worth investigating real estate opportunities that haven’t been publicly advertised for sale. Here are some ideas for finding unlisted properties that are for sale.
Unlisted properties are available for sale but have not been publicly listed. This means that, unless you go looking for them, and now how to look for them, you probably won’t know that they’re for sale. A house might be unlisted because:
- The owner does not want to make it known publicly that their home is for sale (for personal or financial reasons);
- The property is tenanted, and the tenant is uncooperative with inspection arrangements;
- The owner doesn’t want to pay for advertising costs;
- The property is in the process of being publicly listed but is still in the early stages; or
- The owner wants a quick sale.
Also known as silent listings, off-market properties, quiet listings or pocket listings, unlisted properties can be an excellent resource for first-time buyers or those looking to make a quick sale.
How can buying an unlisted property benefit the buyer?
An unlisted property has many potential benefits for a buyer. The off-market nature of the listing means there is likely to be far less competition, giving a prospective buyer a much better chance at making a successful offer at a lower price point. Given that Australia is currently in the midst of a ‘buyer’s market’, any price advantage is worth seeking.
Depending on the seller’s reasons for not listing their property publicly, prospective buyers may be in a unique position to purchase quickly or at a much lower cost than the property is worth. Buyers are also more likely to be flexible on contracts and timeframes in a private sale, giving you a buying experience that works to your needs.
So, how do I find unlisted properties?
Once you know how to look for unlisted properties it isn’t difficult, but it can be time-consuming. Here are a few ways you can discover unlisted properties to buy.
Real estate agents
Although a property may not be listed publicly, the sale is usually handled by a real estate agent. To find unlisted properties, you’ll need to get onto local agents’ email lists. It’s also a smart idea to arrange to meet with a few agents to inform them of exactly what you are looking for in a property.
In recent years, the popularity of off-market property listings has exploded in Australia. Off-market property websites have sprung up in response. Through such websites, buyers can input information about the type of properties they’re looking for and are then matched with properties in the database. In most cases, these websites are free for buyers.
Use a buyer’s agent
If you don’t have the time or inclination to do the house hunting, you can hire a buyer’s agent to do the leg work for you. The only drawback of hiring a buyer’s agent is their fee, which is typically about 2% of the final sale price. But for that price, you’ll get their insider knowledge and information as they will often have forged relationships with agents in their area.
Just be aware that when you use a buyer’s agent, they will ask you for the price range you are looking to buy within. Because they know how much you can spend, your ability to negotiate a lower price may be inhibited.
Always engage a reliable property conveyancer
It’s a good idea to hire a property conveyancer as soon as you are presented with a sale contract. A property conveyancer will take you through the legalities of the sale, draw your attention to any irregularities in the contract and guide you through the settlement process.
Jim’s Property Conveyancing Melbourne and Property Conveyancing Brisbane and can provide you with comprehensive advice and assistance moving through your property transaction. Please get in touch with our friendly and experienced staff on 13 15 46.
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