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Agents could be losing clients and earning less commission by choosing to sell properties off-market, rather than going through the whole campaign.
Off-market strategies have become increasingly common among agents, with property sales climbing by 3 per cent nationally and the number of listings decreasing by almost 15 per cent, according to recent Cotality data.
Data showed that off-market sales were an effective strategy across both urban and regional markets, with an estimated 20 per cent of total properties sold through this method.
Reapit general manager Australia and New Zealand, Simon Berglund, said there were a variety of factors influencing the shift to off-market listings.
“A growing number of sellers are agreeing to off-market transactions this year, avoiding public listings and open homes in favour of a more discreet, targeted approach,” Berglund said.
“There can be cost savings for the vendor in bypassing major listing portals and traditional marketing expenses, as well as reducing the period where bridging finance might be required between transactions.”
Berglund said that while the off-market process can create a sense of urgency and exclusivity among buyers, failing to generate adequate demand can often lead to a subpar sales price.
To ensure the listing received the necessary demand, he said that agents should use data to gain a complete understanding of their potential customers.
“There are predictable behaviours that can be discovered in datasets when you look at the typical life cycle of a customer,” Berglund said.
“You can anticipate what the customer will do next, sometimes before they realise it themselves.”
“But this relies on having visibility across all data from both rentals and sales areas of your agency.”
By combining data from both the property management and sales sectors, Berglund said agencies can create a cut-through to the right kinds of buyers.
“When you bring together every touchpoint in the customer journey, you can identify and nurture potential buyers far more readily,” Berglund concluded.
ABOUT THE AUTHOR
Mathew Williams
Born in the rural town of Griffith NSW, Mathew Williams is a graduate journalist who has always had a passion for storytelling. Having graduated from the University of Canberra with a Bachelor of Sports Media in 2023, Mathew recently made the move to Sydney from Canberra to pursue a career in journalism and has joined the Momentum Media team, writing for their real estate brands. Outside of journalism, Mathew is an avid fan of all things sports and regularly attends sporting events across Sydney. Get in touch at
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