No matter what the market conditions, I am always coming across people selling off market.

These include:

1. Private people – don’t want strangers knowing their business
2. Lazy people – too much hassle to clean the house for an open twice a week
3. Risk adverse people – want to line up their sale and purchase to avoid stress of being out of the market or stress of being under pressure to sell
4. Impatient people – want a deal done quickly because they found something to buy or are worried about the market or are under financial pressure

However, in the current market, which is clearly a buyer’s market, there are some categories of off-market vendors which I am encountering more frequently than usual.

These include:

1. Equity rich local downsizers – downsizers who for the last 5-10 years have been worried that if they sell they will forgo certain upside but now realise they may have missed the peak so they can act now or wait for another full cycle.
2. Opportunistic upgraders – savvy professionals and business owners who know that when you upsize in a buyer’s market the delta is lower. They want to take advantage of this but have not geared up for a campaign.

At the end of the day everyone has different approaches to achieving their property objectives. Understanding all of the forces at play can help you optimise every move you make.