Watch out Rightmove
08 Sep 2022
As reported in ‘The Negotiator’ – the magazine for estate agents - properties kept off the market are selling successfully despite not being advertised on the nation’s favourite property portal Rightmove – or in fact at all.
The number of estate agents not advertising property for sale is increasing and starting to become more widespread, according to property insight company TwentyCI. And despite the lack of listing those agents keeping properties off the market are still achieving over the asking price and selling quickly.
“If you look at the volume of available properties for sale right now this has been halved since pre-pandemic,” says TwentyCI. “As such, the best agents will already have several buyers lined up, especially for properties in areas where demand is hot.” According to TwentyCI’s research across the country in the last quarter there was a 2.4% increase in properties selling but not advertised – some 4,650 properties - with approximately 2,650 of those in Yorkshire, where this appears to be a more common practice.
Twenty CI says “If stock levels fall even further, and/or selling prices rise when compared to asking prices, then we might well experience higher volumes of non-advertised properties that are for sale. “Our view is that emergence of non-advertised properties is not a temporary phenomenon, moreover, it is one that is entirely dependent on future market dynamics. The higher the underlying demand for property is, the less likely we are to see properties advertised for sale.”
Property pictured: Hollybush Green, Collingham – Sold STC ‘offline’ through our Wetherby office
For a more discreet sale and information on our ‘low key’ marketing services please call your local Beadnall Copley office. Looking to buy a property in our areas? Then call to register your details and make sure you don’t miss out on our offline ‘low key’ properties.