In this blog we discuss off-market property in London, exploring the unique appeal and advantages of discreet property transactions, as well as strategies to uncover London’s hidden gems and purchase off-market homes and investments.
Off-market properties are simply homes that are not publicly advertised on the open property market via the traditional channels, including property search portals such as Rightmove, Zoopla and On the market, and promotion by estate agents.
Off-market properties tend to fall within the luxury homes market in Central London locations, where privacy and exclusivity are often valued by buyers and sellers alike.
Similarly, developers of new homes schemes across London will often launch their new development via an off-market or ‘soft launch’ initially, offering first dibs on the homes to their network, their appointed estate agents’ networks and the database of applicants who have pre-registered their interest to be the first to hear about the launch. This exclusive access will often precede the public launch, giving buyers the opportunity to purchase a new home off-market, which often allows them greater choice and sometimes means they can secure a better deal.
Contact us to start your off-market property search today
Homeowners often sell off-market when they wish to maintain privacy, choosing to sell privately, either through their personal network, word of mouth or via an appointed agent who will not advertise the property publicly. Some sellers simply do not want the details of their property, including the location, price and terms, to be exposed for public consumption.
Other advantages include avoiding competition with similar homes for sale in the same area, as well as the potential to negotiate terms more freely, possibly achieving a higher price with a faster sale transaction.
If you are looking to sell a property discreetly, we would be delighted to assist you. Please contact us to speak to an expert today.
Off-market transactions can also benefit the buyer by enabling a more controlled and strategic negotiation, which can help to secure the best price, as well as allowing the utmost discretion throughout the process.
Buyers can also benefit from having less competition from other potential buyers, given the property hasn’t been publicly advertised, as well as having the opportunity to discover more unique homes and hidden gems.
Contact us to start your off-market property search today with the help of an experienced property finder.
Having access to off-market properties and exclusive listings is one of the many benefits of working with a Buying Agent to assist with your property search. In London in particular, the majority of Buying Agents find and buy off-market. A seller or a real estate agent can have confidence that a transaction is likely to succeed when a retained Buying Agent is involved in the process. They can help to offer anecdotal advice on pricing, conveyancing process and just generally how to buy a house.
At LCP Private Office, our 35 years’ experience representing buyers in Central London means we have an extensive network of industry connections, often giving us first access to best-in-class properties before they hit the open market. We also have privileged knowledge of discreet listings that will remain off-market and never be openly advertised, meaning we can offer a much wider pool of properties in prime locations for our buyers to choose from and more opportunities to find their dream home.
Unlocking this discreet segment of the market is especially appealing to our High-Net-Worth and Ultra-High-Net-Worth clients, who often seek discretion, exclusivity and access to premium homes not available on traditional property platforms.
Contact us to start your off-market property search today
If you are interested in purchasing a new home off-market, you should register your interest directly with the developer, and/or their appointed sales agent(s), to ensure that you are amongst the first to hear about the first release of homes and have the opportunity to purchase a property before they are launched to the open market. Many of the more exclusive units within new homes developments, such as the penthouses, will be sold off market and never reach the property portals.
Real estate professionals, including Buying Agents and Real Estate Agents, often have access to off-market properties through their clients and connections in the industry, so it can be worthwhile building ties and networking with these professionals ‘in the know’ by attending industry events and going into local estate agencies in the areas you are interested in. Many agents will be able to give feedback on recent valuations to ensure they can guarantee the sales instruction for a vendor in the UK property market. Agents will also look to have a period of off-market advertising before launching to the open market.
There are also other industry professionals involved in a property transaction, including Lawyers, Accountants and Banks. Distressed sales often come from a number of different locations, with the majority of transactions in London coming from a change in family circumstances, in which separate expertise in needed.
Property auctions often have off-market opportunities on offer, so it is worth exploring these, especially if you are keen to secure a property at a discounted price. You can also sign up to receive catalogues and newsletters to see what listings are coming up. Attending auctions can also help you to connect with other property investors and experts.
If you are looking to purchase or sell a home off-market, we would be delighted to assist you. Please contact us to speak to an experienced property specialist.
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Find out more about our new homes service
