Profound is a newly-launched marketplace for off-market Australian properties where buyers can see real estate on offer and contact the agent to arrange for a viewing.
An off-market listing is not marketed publicly. It has no “for sale” sign out the front, no advertisements online or in the paper, and has no promoted public inspections.
Off-market homes for sale are increasing in popularity as sellers may want to test the market before they invest in advertising, are reluctant to have hordes of potential buyers tramping around their home, or simple do not want people they know to know of their intention to sell.
Around 360,000 properties are expected to be available each year in Australia via the off-market route.
“It’s enormously frustrating for buyers when they see a sticker that says ‘sold off market’ on a property they would have liked to have purchased. Through Profound, buyers are no longer limited to the pool of off-market properties their buyer’s agent or local real estate agent are aware of,” said Richard Cohen, Co-founder of Profound.
Designed by property investors and agents, Profound preserves the seller’s anonymity and does not disclose the property address, showing only features and facts, the floorplan, and a general location without revealing the property.
Following its Sydney launch this month, Profound will gradually be rolled out across Australia focussing on metropolitan areas before expanding into holiday home destinations and hot regional markets.
Prospective home buyers can download Profound on Apple’s App Store or Google Play Store.