Private sales on the rise

Private sales on the rise

Posted on Tuesday, August 21 2012 at 1:14 PM

With the property market relatively soft in Melbourne, fewer homes are being listed or going under the hammer, according to buyers advocate company, Infolio.

Sam Gamon,
director and auctioneer at Chisholm and Gamon Property, says off-market sales
are on the rise as vendors look for ways to minimise advertising costs.

“They’ll quite
often approach agents on the basis of a quiet and discreet private sale,” he

“Sometimes this
is cost driven and other times it’s due to a vendor having a desire for

“Invariably, we
meet all sorts of different vendors and while their ultimate objective is to
achieve a sale, they have different motivations and goals.”

Buyers advocate
at Infolio, Cameron Deal, adds selling off-market can take away the uncertainty
of going to auction for the vendor, but most importantly, give the buyer the
opportunity to get a good deal.

“You’re not
competing with the wider market, therefore you should be able to buy a property
for the right price rather than (a price) inflated by auction conditions,” Deal

“On behalf of our
clients, we recently purchased an off-market property in arguably one of
Melbourne’s best streets, St. Vincent Place, Albert Park, for $3.375 million
rather than $4 million, which is what we could have paid had it gone to

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