Sssh! Why apartment owners are selling ‘quietly’ in Bath
30 per cent of our sales this year have been sold via ‘quiet marketing.’ Once the trend for the super-wealthy in London for exclusive property, this has become an increasingly popular method for all types of buyers and sellers across the country. So what does ‘quiet marketing’ mean and what are the benefits of selling this way?
‘Quiet marketing’ can also be referred to as off-market, off-line, private sale or a whisper sale, but they all mean the same thing. Quite simply, there is no public advertising. Properties are not listed on high-street windows or portals. They are not advertised in the press and open viewings do not take place. Instead, estate agents make quiet phone calls to a large database of specific registered buyers.
Generally, our sellers sell this way because they don’t want their sale carried out in the public eye. ‘Quiet marketing’ is less stressful, discreet and low-key. Sellers can also make a good profit, being in a stronger negotiating position because buyers will pay a premium if they feel they have found something special and exclusive to them.
It’s also an excellent strategy to avoid over exposure when marketing publicly. After a few weeks of advertising online, buyers start to assume there are ‘issues’ with the property which can encourage them to de-value the property in their mind. This makes ‘quiet marketing’ most powerful at certain times of the year. If selling in early summer or winter for example when the market is traditionally quieter, we advise our clients sell off-market. If we don’t find a buyer quietly, we can at least test the market and have a good understanding of buyer expectations. We can then launch onto the market afresh, when activity picks up and set a price that we know is likely to attract significant interest.
Furthermore, it usually results in a quicker sale. We rely on our database, so we don’t need to show an apartment to no more than twelve people before finding a buyer.
However, this approach is not for everybody and there are other strategies you can adopt. Whichever you choose, make sure your agent has a good database of buyers specific to your property. If you are selling an apartment, 100% of our buyers are looking for a property, just like yours…