Every buyer wants the secret deal. The off-market property that hasn’t hit Domain or realestate.com.au. The listing that only the agent’s VIP database knows about. It sounds exclusive, and exclusivity sells.

But here’s what most buyers don’t realize: off-market sales often benefit the agent more than the buyer or seller. I’m going to break down exactly how this works and when it actually makes sense to chase off-market opportunities.

What “Off-Market” Actually Means

An off-market property is one that’s available for sale but hasn’t been publicly advertised. The agent is quietly reaching out to their database, other agents, or specific buyers they think might be interested.

There are a few scenarios where this happens:

1. The seller wants privacy (divorce, financial distress, high-profile individuals)
2. The seller is testing the market without committing to a full campaign
3. The agent wants to double-end the deal by representing both buyer and seller
4. The property has issues that make public marketing risky

Notice that only the first scenario is genuinely about the seller’s needs. The rest are about the agent’s interests.

The Agent’s Perspective

When an agent sells off-market, they save money on marketing and get a faster commission. A typical marketing campaign costs $5,000-$15,000 for photography, styling, ads, and open homes. If the agent can avoid that and still close the deal, they pocket more of their fee.

There’s also the double-ending incentive. If an agent represents both sides, they collect the full commission (usually 2-3% of the sale price). On a $1.5 million property, that’s an extra $15,000-$22,500 in their pocket compared to splitting with another agent.

I’m not saying agents are being unethical, but let’s be clear about the incentives. Off-market sales benefit agents financially, which is why they push them so hard.

When Off-Market Makes Sense for Sellers

If you’re selling and genuinely need privacy, off-market can work. Maybe you’re going through a divorce and don’t want neighbors gossiping. Maybe you’re a public figure who doesn’t want media attention. These are valid reasons.

Off-market also makes sense if you’ve got a unique property that appeals to a very specific buyer pool. If your agent has a database of high-net-worth individuals looking for prestige homes, they might find your buyer faster than a public campaign would.

The risk is underpricing. Without open competition, you don’t know if you’ve truly achieved market value. You’re trusting the agent’s assessment and the buyer’s offer, but there’s no auction dynamic to push the price higher.

When Off-Market Doesn’t Make Sense for Sellers

If you’re a typical seller in a typical suburb, going off-market is usually leaving money on the table. Competition drives prices, and competition requires exposure. The more buyers who see your property, the higher the likelihood of multiple offers and a premium result.

I’ve seen sellers accept off-market offers only to discover similar properties in their street sold for 10-15% more through a public auction campaign. That’s real money lost for the sake of convenience.

The Buyer’s Perspective

As a buyer, off-market properties can give you an advantage if you’re ready to move quickly and negotiate hard. You’re not competing against 50 other buyers at an auction, so you’ve got more control over the process.

But here’s the catch: you don’t know if you’re getting a good deal. Without comparable sales happening at the same time, it’s hard to gauge true market value. You might pay a premium just to secure the property without competition.

I also see buyers get emotionally attached to off-market properties because they feel special for being offered them. That emotional attachment clouds judgment and leads to overpaying.

The Data on Off-Market Sales

According to CoreLogic data, off-market sales made up about 18% of Sydney transactions in 2025. That’s down from 22% in 2022, which suggests sellers are wising up to the benefits of public marketing.

Interestingly, off-market properties tend to sell faster (median 15 days vs 32 days for public listings) but for slightly lower prices (median 3-5% below equivalent public sales). That trade-off works for some sellers but not others.

How to Access Off-Market Listings

If you want access to off-market properties, you need to be on agents’ VIP lists. That means building relationships, not just showing up once and disappearing.

Here’s what works:

• Attend open homes in your target suburbs and introduce yourself
• Be clear about your budget, timeline, and what you’re looking for
• Get pre-approval so agents know you’re serious
• Follow up regularly without being annoying

Some buyers also hire buyer’s agents who have established networks and access to off-market deals. This can work, but make sure your buyer’s agent isn’t just recycling the same listings every other buyer’s agent is seeing.

My Honest Take

Off-market properties aren’t inherently good or bad. They’re a tool, and like any tool, they work in some situations and not others.

If you’re a seller who values privacy or speed over maximum price, go for it. If you’re a buyer who’s prepared to move fast and has done your research, off-market opportunities can be worthwhile.

But don’t get sucked into the hype. The best properties in the best locations still sell through public campaigns because sellers want maximum exposure and competition. If something’s truly premium, it doesn’t need to be hidden.

I tell my clients to stay open to off-market opportunities but not to chase them exclusively. Keep your options broad, do your due diligence, and don’t pay a premium just because something feels exclusive. In real estate, exclusivity is often just marketing.