10% of properties sold in England now sold in secret
10% of properties sold in England now sold in secret – The Times Newspaper
In years gone past the ‘off market’ or ‘non public’ house sales mainly consisted of the prime or super prime property market across the likes of Chelsea, Knightsbridge or Mayfair. However The Times newspaper recently released an article confirming that the power of Rightmove/Zoopla is starting to dwindle.
At avocado property we find social media is a much stronger marketing tool than the classic portals and although we still advertise on both rightmove and zoopla; the necessity is dropping week by week. We also find that because we work in hyper local markets as individual business owners rather than departments, we are able to listen, learn and understand our clients goals better than the average high street agent.
So what actually is an ‘off market sale’?
In estate agency terms it just means a property has had a buyer introduced to it without full marketing. Typically in England it comes from either a private transaction or an agent knowing someone perfect without the need for the hassle of full marketing and viewings.
‘Secret property sales’ is somewhat a click bate headline from The Times. But if 1 in 10 house sales are actually flying under the radar from the general public, then how should buyers change their searching methods?
Last year we posted a fact that at the start of 2021 as many as 22% of avocado property sales did not hit the portals… Is it a sign of the future? Or a sign of the market?
If you want some advice around this article or you have a question please reach out.
At avocado property we are not going to sit on the fence here… We think this is the future and maybe in coming years the end of the rightmove dominance in the UK property market.
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