Identifying a gap in the market, the Real Estate Institute of Western Australia (REIWA) has introduced a new website feature it believes will help Western Australians get ahead in the current hot market.
Through REIWA’s recently launched Off-Market properties website feature, local buyers across the state are now being given access to properties before they are officially advertised for sale.
The initiative ultimately aims to provide WA buyers an opportunity to “stay ahead of the pack” as the market continues to face increasing demand amid dwindling supply, according to REIWA CEO Neville Pozzi.
As of 20 June 2021, reiwa.com data found that properties for sale across the state had seen an annual decline of 17 per cent.
But home-buyer activity actually increased by 31 per cent over the year to the March quarter, with some suburbs even doubling their sales volumes.
“The WA market is firmly in a recovery phase and competition among buyers is extremely high. In fact, in some suburbs, properties are being sold before the agent has even had a chance to advertise them online,” Mr Pozzi said.
“Buyers are looking for an edge in this highly competitive market and reiwa.com Off-Market properties gives them just that.”
The CEO added that the new feature can also help agents provide better and more personalised services to their clients.
Buyer’s agents can offer greater options while sales agents can cater to sellers who don’t want it widely known that they are selling a property so as to avoid substantial advertising costs.
“Off-Market properties provides REIWA agents the opportunity to provide sellers with greater choice and options when considering how best to market their property,” he said.
And as an extra benefit, “Off-Market properties will also be counted towards their sales records on their reiwa.com AgentFinder profile and included in their sales statistics for the reiwa.com Awards”, Mr Pozzi added.
REIWA’s Off-Market properties is available to reiwa.com members who are signed up to receive reiwa.com alerts and in-app notifications.