In the space of just two weeks in October 2023, Cohen Handler Buyer’s Agent Joe Avakian purchased three off-market properties for clients, effectively helping them avoid the competitive pressures of the open market.
Approximately 80 per cent of all properties Cohen Handler purchases are either off-market, pre-market or post-market.
Joe Avakian’s October off-market purchases:
LINDLEY AVENUE, NARRABEEN
Our clients had been looking for months with no success. This free standing home with water views was purchased off-market within 13 days of engaging Cohen Handler, with no competition.
ALFRED STREET, MILSONS POINT
Our clients had been looking for several months before engaging us. We saw this beautiful apartment with Lavender Bay views on Saturday and exchanged 3 days later, with no competition.
OAKS AVENUE, DEE WHY
Our client had been searching for 5 years with no success. We secured this apartment which is walking distance to the beach off market within months of engagement with no competition
In addition, Joe purchased another property in the same two-week period in Mosman, and his clients were the only party to see the property before they managed to purchase it.
RANGERS AVENUE, MOSMAN
Our clients had been searching for almost a year with no success. We secured this beautiful semi in the heart of Mosman within 4 weeks of engagement and were the only party to see this this property.
“There is nothing more satisfying than helping a client purchase their dream home or investment property. But finding properties for them that others simply don’t have access to is the jewel on top,” Joe Avakian said.
“Years of building relationships with real estate agents means they’re more likely to come to us with deals vendors don’t want to take to market. They trust discretion, and the fact we have serious buyers on our books,” he added.
“Those relationships also mean we’re able to accurately assess the competition on properties, which enables us to put together the best negotiation strategy to maximise our chances of success. And it means that often we are the only ones to see a property prior to purchasing it.”
How and why are properties off-market?
Many people think that off-market properties are a myth, however there are many reasons why a property might be sold off-market.
- Privacy and Discretion: Some vendors prefer to maintain their privacy and avoid the public attention that can come with a traditional sale. They might not want neighbours, friends, or colleagues to know they’re selling, or they might be high-profile individuals seeking to keep their property transactions out of the public eye.
- Test the Waters: Before committing to a full-scale marketing campaign, vendors might decide to test the waters off-market to gauge interest and potentially secure a quick sale. This approach can provide valuable feedback on pricing and market demand without exposing the property to the wider market.
- Avoid Marketing Costs: Selling a property through traditional channels can involve significant marketing expenses, such as professional photography, advertising, and staging. By selling off-market, vendors can sidestep these costs while still reaching a select group of interested buyers.
- Minimize Stress and Disruption: Open homes and frequent viewings can be disruptive to the daily lives of the property’s inhabitants. By selling off-market, vendors can reduce the number of viewings and avoid the hassle of preparing their property for public display repeatedly.
- Faster Transaction Time: In some cases, off-market sales can lead to quicker transaction times. Since the pool of buyers is often pre-qualified and genuinely interested, there’s a higher likelihood of securing a swift sale without the extended negotiation periods or cooling-off delays that can come with public listings.