Switch to OFF-MARKET and avoid competition?
Switch to OFF-MARKET and avoid competition?
The terms of the real estate sector can sometimes seem abstract to those who are not experts. OFF-MARKET real estate, literally meaning "out of the market", today stirs up many desires. Currently in an extremely tight market, it is now increasingly complex to find an apartment by seeking traditional remedies. This is why "Off Market" apartments are increasingly sought after and sought after.
How does this invisible market work? How do I access it? What are the advantages and disadvantages?
Defining OFF-MARKET Real Estate
OFF-MARKET real estate concerns a property put up for sale, but invisible on the web or in magazines dedicated to real estate. It concerns only a very limited number of properties in relation to the overall supply available. It is estimated at nearly 10% of the market and remains only accessible with an excellent buyer profile. Profession of the purchaser, budget and financing conditions are therefore the entry lever to this access.
Collaborative real estate is a new way to sell your apartment
This parallel real estate market is a real preserve of prestigious real estate agencies and real estate hunters. Most of the time it is a question of exceptional properties sold in the greatest discretion, no real estate advertisement published. This discretion is very appreciated in the luxury real estate sector, especially for private mansion sales, for example. They are of great rarity, just like a house in the heart of Paris or a terrace with panoramic views and therefore very sought after for their particularity. Naturally, they are reserved for a demanding and affluent clientele whose budget is around € 3,000,000 .
About three quarters of French transactions ranging from 10 to 100 million euros would be carried out by the 10 major marketers, reaching 85% taking into account notaries and various banks. At the same time, OFF-MARKET operations amount to 15%, but what advantages does this market provide?
The advantages of the concept for buyers
As a buyer, the advantages of the OFF-MARKET in real estate can be extremely profitable. Thus, it opens access to luxurious, rare and exclusive types of property such as lofts, mansions in the heart of Paris or mansions.
However, many foreign and French buyers are hunting for a property that stands out from the rest. Acquiring a property on the OFF-MARKET offers the assurance of becoming the owner of an exclusive and rare home.
As a result, access to the private market reduces competition. As in Paris or similar cities, where the market is extremely tight, supply is lower than demand. When a property with many assets is open for sale, many buyers are ready to make an offer. The confidentiality of the sale makes it possible to face selected competition even before its entry into the private market, significantly reducing the number of potential buyers.
In search of prestigious real estate, buyers also appreciate the high confidentiality guaranteed. For example, an Emirate prince wishing to acquire a mansion was confronted with an increase in the sale price when the owner shortened that the buyer was a multimillionaire.
The interest of the process for sellers
Discretion at the heart of the process remains the first advantage of OFF-MARKET real estate. Some owners want to keep confidential their project of sale concerning their house, their loft or their hotel. Similarly, not everyone necessarily wants to publish photographs of their property or to reveal its selling price. The positioning on the OFF-MARKET market is therefore required with confidentiality and discretion.
The second and major advantage of the private market is the rarity and exclusivity provided by this means, being sold confidentially in a restricted and closed field of vision, the value is therefore increased.
In another perspective, the market allows the owner to have a first glimpse of the attractiveness of his property to, in a second time, make it publicly visible.
Finally, it very often makes it possible to sell the property more quickly. The strength of the network and the richness of the address portfolio, but also those listed therein, of the intermediary in charge of the transaction are essential.
It opens access to luxurious, rare and exclusive types of property such as lofts, mansions in the heart of Paris or mansions.
You want to
to sell in Paris or its surroundings ?
Posted on 21/10/2021 by
Andy LECUYER
