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3 Reasons to sell your property off-market

The property market has evolved significantly over the last decade, particularly due to the growth of technology in the industry.  With the rise of ‘next generation’ property agencies like Rightmove, Zoopla and Purple Bricks, the role of the estate agent is fast changing.

James Turner, Director at York-based Turner Little takes us through the evolution of the estate agent and why you should consider selling your property off-market:

“Traditional estate agents are evolving with the times and are considered matchmakers, rather than estate agents. Off-market sales has been commonly used for high-profile, high-value sales, where the seller doesn’t want to publicly disclose either themselves, the location or the value of the property. But it’s fast-become a way in which investors can sell properties on to other investors, and quickly.

Whilst high net worth individuals and celebrities sell properties off-market for confidentiality and prestige reasons, it’s not the only reason. If your property is in a hot market, it might be the perfect way to test the market prior to listing.

One of the benefits to selling your property off-market is the ability to save on selling costs. Selling a property on the open market requires a specific set of marketing collateral – from photos to floorplans, reports and schedules. Off-market sales don’t require these, making the sales as simple, and seamless as possible.

When selling a property off-market, it can be a good way to secure a quick sale. As off-market estate agents act as matchmakers, they will be more likely to find the most suitable buyer in a shorter space of time, in comparison to listing it for sale with ‘next generation’ agency. Property details in this instance are only circulated with buyers who are actively looking for a property to purchase and are ready to move quickly when the right opportunity comes along.

Ultimately, the decision to sell your property is a personal one, but if you are looking for a little more privacy and security when it comes to purchases or asset protection, consider purchasing through an offshore company or utilising a revocable or living trust.”

Turner Little specialises in creating bespoke solutions for individuals and businesses of all sizes. The knowledge and expertise of their specialists will be able to assist with any enquires, no matter how complex.

Turner Little and its affiliates do not provide tax, legal or accounting advice. Material on this page has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.