With the Wanaka Real Estate market in a competitive phase, it can be a real game changer to discover an off market property. There are so few listings about at the moment. This, combined with the imbalance of buyers pushes prices up. Having multiple bidders or offers on a property results in inflation of the price.
Advertising for specific properties in the media can have positive results especially when the campaign is targeted at a specific range of properties within the Wanaka real estate pickings. I use this approach when I am targeting a property in a specific area of town.
When I have full confidence in my understanding of the buyers that I am working for I will embark on a more targeted campaign. This could be door knocking, phone calls or mail drops. This approach works particularly well if the owners are out of town.
Being part of the community also lends itself to discovering opportunities through word of mouth.
Wanaka real estate agents sometimes have unlisted properties. These can be are known as sleevies within the industry.
Sellers approach me quite frequently. Many for advice on the best route to take when selling their property in the Wanaka real estate environment. Some owners would like a more discreet sale of their property. They do not want everyone to know their business or to traipse through their home. The vendors are also able to sell without incurring the fees associated with using a real estate agent.
The opportunity to work with an off market listing allows a more considered approach. The vendor has the opportunity to guide the process in the direction that suits their needs. It is great when buyers sit around the table with the owners and come to a mutual agreement. The handover is more complete and feels really special.
Vendors often have a solid idea of what they want to achieve. Registered Valuers and Lawyers are used to guide the vendor to the best result for them.
As licensed real estate agents we are obliged to work for our clients. The buyers pay us and are therefore our clients, but we have a duty of care to the vendors. We work to ensure that everyone is happy with the outcome. Our business relies on word of mouth. Having the buyer for an off market opportunity is hopefully a win win for everyone involved.