Revealed: How this couple bought a house in just hours – realestate.com.au

Luke and Kate Whitehouse have bought a home off the market for the second time, as more and more Brisbane buyers purchase properties that are not yet for sale.

The couple, who have a six-year-old son and a dog called Frankie, were looking for a new home when they approached agent Pat Goldsworthy of Place Bulimba with a list of properties they liked but were not on the market.

“Pat called a number of owners on our behalf and at a time when these particular sellers were actually preparing to sell,” Mr Whitehouse said.

“He also gave the opportunity to other buyers, but we were quick and ready to go.

“We had a signed contract within 12 hours of the first conversation.

“We paid what I felt was a fair and reasonable market value, but it was the opportunities and terms that were very attractive to the sellers.”

The couple insured the four-bedroom Norman Park Home for $1.5 million after agreeing to the longer settlement the sellers wanted.

Analysis of listing and sales data by the Real Estate Buyers Agents Association of Australia (REBAA) revealed a jump in the number of homes sold off-market – either without a sales campaign or before the campaign could begin.

Luke and Kate Whitehouse have bought their latest home off the market. Photo: Liam Kidston

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Mr Whitehouse said the Norman Park house was their sixth property purchase and the second bought off-market, and he believed the fact they were in a position to buy before a house was listed gave them an edge in the current market.

“You have to take every advantage you can,” he said.

“It makes it a little more difficult to negotiate and you do need to understand the market value of the property you’re trying to buy, but it does increase the chances of you getting the property you’re looking for.”

Mr Whitehouse said building relationships with local agents has helped him and his wife successfully buy off-market.

“Real estate agent relationships are worth their weight, and so is early involvement.

“You have to communicate what you are looking for in a home, be flexible on terms and be willing to work with a potential seller.

“There are only so many properties on the market, so doing some research and developing those relationships will open up some of the market before the usual listing period.”

Mr Goldsworthy said contacting agents was integral to being able to secure an off-market property and being able to act quickly.

“If you get an exclusive opportunity to buy before a house hits the market, you have to convince the seller it’s worth selling to you,” he said.

“Generally speaking, our recommendation (to a seller) is that you are likely to get a higher price when you put a property on the market.

“The only way pre-market or off-market sales will work is if your agent has relationships with buyers who fit the property or has a database that will reach those buyers.”