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Quiet Sale advantages?

Discussion in 'The Buying & Selling Process' started by Gurtofen, 13th Feb, 2016.

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  1. Gurtofen

    Gurtofen Well-Known Member

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    My wife got called up by a REA and was advised that we should look at a property they had on their books which is a quiet sale. The original call was a few weeks ago but because there was no details on the property floor plan, photos etc. we didn't bother going to look at it.

    My wife got called again a few days ago and was recommended to the view the property as they thought it would match what we were looking for. Open is today for 30mins but we can't make it at the scheduled time anyway.

    I would like to know, what are the advantages of selling a property this way? The agent has at least sent a floor plan now but obviously there is no website listing, photos etc. and I don't really want to waste my time. Advantages?
     
    Last edited: 13th Feb, 2016
  2. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Less buying competition can only be a good thing! Sure you need to take time out of your day to go and see what may or may not be a good property, but if this method of sale doesn't attract 90% of prospective buyers who might have bought it if it was well advertised and had good photos.... well, all the better for you.

    My West Ryde Unit was poorly advertised... the online ad was presented like a pay per character newspaper ad. If it was well advertised it might have been too hard to buy at the price I wanted otherwise. The worst advertised places can turn out to be the best buys. :)
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    You've spent time with the agent to brief them with what your requirements are.

    Some vendors would prefer to do an off market sale so the agent tries to match your requests with off market stock - unless the agent has buyers knocking down their doors you don't get a look in.

    If there's serious interest they will make time for you to inspect.
     
  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    It could be either because
    - they don't want neighbors or relatives to know its for sale (perhaps because of financial dispute?)
    - they had 0 marketing budget
     
  5. Xenia

    Xenia Adelaide Property Manager Business Member

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    Why is an agent calling you to view a private sale?
     
  6. legallyblonde

    legallyblonde Well-Known Member

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    Less competition is a good thing!

    I know anyone secretly selling a property that is listed with an agent but not on domain or RE.com.au

    All comes down to privacy... best guess is badfinancial situation.
     
  7. sanj

    sanj Well-Known Member

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    Sounds like a quiet listing and not a private sale
     
  8. Gurtofen

    Gurtofen Well-Known Member

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    Maybe I have used the wrong term....the property is listed with a REA but not advertised so maybe as Sanj said 'quiet listing'?

    Either way, I can't see the advantages of selling this way......as a buyer, yes I agree that less competition is a good thing but I am trying to work out why a seller would choose that option.
     
  9. Bran

    Bran Well-Known Member

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    About 30% of the properties I'm looking at at the moment are like this.

    They are either soft listing, pre listing, secret from tenant (I had to inspect one as a 'bank valuer' yesterday), the owner is dodgy on the rent, or they don't want to pay marketing (agent or seller - RE.com.au is now very expensive I'm told).

    It helps that I'm best mates with an agent, the son of another, and doing my best to develop good relationships with some others... I don't think I'm getting bargains, but am getting early dibs. None of them have been particularly worth pursuing sadly.
     
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  10. wylie

    wylie Moderator Staff Member

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    LOL Bran. Did you have to carry a clipboard and pretend to measure the rooms whilst pretending to be a valuer?
     
  11. Bran

    Bran Well-Known Member

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    Yep :)
    We even introduced ourselves as "from the bank".

    In hindsight, I shouldn't have parked my POS right outside. The agent had a flash enough car to be legit. I was wearing a shirt and tie though
     
  12. Gurtofen

    Gurtofen Well-Known Member

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    I have edited the Thread title and my initial post to 'Quiet Listing' as discussed in previous posts.