Wealden Times | WT183 | May 2017 | Restoration & New Build supplement inside

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Nothing for sale?
A professional property finder, Mandy Bissell of Garrington explains how homebuyers frustrated by
an apparent lack of properties for sale can find a solution in the secretive off-market sector…
Despite the former chancellor’s
pessimistic predictions relating to a post
Brexit vote, the UK economy and housing
market has remained surprisingly
robust and whilst it is true that the rise
in house prices has steadied, demand
from homebuyers locally has continued
to grow.
Estate agents covering Cranbrook and
the surrounding areas are reporting
increasing frustration amongst those
looking to move, as the number of quality
properties available for sale is just not
keeping up with demand.
Reflecting this, Garrington is frequently
approached by those struggling to find
somewhere to buy – as well as, ironically,
those who are reluctant to put their
property on the market because they
cannot see anything that they would like
to buy. So, a state of stalemate in some
sectors prevails.
One solution to a frustrating market
lacking choice is to explore the elusive
‘off-market’ sector. Some local estate
agents use this approach effectively as
a marketing tool; advertising ‘discreet
sales’ or ‘private sellers’, as a means of
increasing a property’s exclusivity.
For some homeowners, this method
provides a welcome veil of privacy
as a true off-market property is not
something you will see advertised or in
print in any form.
Mandy Bissell GARRINGTON
So what is a genuine off-market property?
Real off-market properties are bought and
sold away from the public eye, brokered
by a property buyer or estate agent. In
the Cranbrook area the most common
off-market properties are at the top end of
the market and often include large period
properties with land, building plots and
homes in high demand locations, such
as popular villages within the Cranbrook
School catchment area.
In the past few years, Garrington has sourced
off-market properties in Wadhurst and an
unlisted detached period house (with 10
acres of land) in a hamlet near Hamstreet.
How do you gain access to these elusive
properties?
If you are well connected in the area, are
in a strong financial position and patient,
it should be possible to hear about homes
that may be quietly available for sale. You
just need to send out your feelers and keep
gently reminding your contacts that you
are looking for something unusual.
An alternative and easier approach is to work
with a professional property finder who will
usually hold a ‘little black book’ of off-market
properties, a well-established network of
property contacts, as well as, the knowledge
of how to approach homeowners direct to
gauge whether there is an appetite to sell.
Whilst this method of sourcing property is
not guaranteed to bear fruits, Garrington
regularly unearths exciting opportunities
this way.
What are the benefits of using an expert
property finder?
Whilst sourcing genuine off-market
properties for clients is an exciting prospect
for many buyers, the role of the property
finder does not stop there (and this is key,
even to those who go it alone).
Once found, the most difficult aspects are
negotiating the price and then seeing the
deal through the subsequent conveyancing
and due diligence stages. Properties that
are being sold on the open market have
their asking prices tested; if a buyer asks too
much, then they get no viewings but if the
asking is low then a gaggle of hungry buyers
can push the paid price considerably higher.
Away from this market test, establishing
a price that is acceptable to an ambitious
seller and prudent buyer is more difficult
and this is where a skilful property finder
can use evidence, market knowledge and
diplomacy to find a meeting point.
If you would like further information regarding off-market properties or to learn how using a
property finder can make purchasing a property easier for you, Garrington offer a complimentary
initial meeting without obligation. Please contact Mandy Bissell for more information.
Tel: 01892 882892 | info@garrington.co.uk | www.garringtonsoutheast.co.uk