This year about 70,000 deals were done off-market. Once the preserve of celebrities and the super-rich, off-market deals are on the rise and it’s becoming increasingly the ordinary people who want to buy and sell their homes discreetly. Move over online property portals, homeowners are now appointing buying agents and independent brokers to carry out their search. Deals are down to word of mouth and their little black book full of contacts.
The main motivation is privacy, whether it’s couples going through divorce, families relocating or business owners selling their home and wanting to avoid speculation about the state of the company. Jonathan Bramwell, says, “I recently had someone who was selling their business, but the deal hadn’t gone through yet and he didn’t want his employees to know what was about to happen”. According to Bramwell, another reason for off-market deals is exclusivity; “Sometimes people will pay a premium in the knowledge that they are the only person looking at it. For others, they want something specific and they know there will not be another opportunity like this for years, so they will pay.”
To read the full article click here; https://www.thetimes.co.uk/article/why-would-you-sell-your-house-off-market-9nzdd7fpn