A property sales method once relegated to the shadows has stepped into daylight across Sydney. One in five Australian properties, or about 100,000 each year, are estimated to be sold off-market before being listed on major property platforms like Domain and realestate.com.au.
For Sydney's inner-harbour areas, the picture is even more striking. QuietList, which runs a subscription platform for real estate agents, found more than one in every five homes sold in Sydney in the last year did so without being listed online. The Quiet List research reviewed all 2025 sales settled in ten Sydney council areas fringing the harbour and found 20.2 per cent sold off-market. In North Sydney, the figure climbed to 25.1 per cent.
The driving force behind this shift is the rise of buyer's agents. These professionals operate on the principle that their client's needs supersede traditional marketing channels. They hunt for properties through agents' private networks, direct contact with sellers, and subscription platforms designed for the off-market trade. The appeal to sellers is straightforward: avoid the stress of twice-weekly open houses, marketing costs, and the exhausting auction process.
For Stephen Hipsley, a pathology sector business development manager buying on Sydney's North Shore, the off-market route meant finding a two-bedroom townhouse in December without the noise of a formal campaign. He worked with a buyer's agent who learned the property was coming to market through BresicWhitney, a Sydney agency that has made off-market sales a core part of its business. "The owners didn't want to go through the stresses and traumas of an auction," Hipsley said. "It was a bit like buying from a friend. It really did take the stress out of it for me." The experience reflects a growing preference for transactions that prioritise simplicity over maximum exposure.
Yet the trend deserves scrutiny. CoreLogic-tracked homes sold at auction still clear about 1.0% higher quarter-on-quarter nationally in 2025, suggesting competitive campaigns remain powerful price drivers. A Port Melbourne example illustrates the stakes. A seller contemplated selling a property off-market to save costs but was advised by agent Greg Hocking to pursue auction. Five keen buyers competed, and the property sold for $3.7 million, against likely proceeds under $3 million in an off-market sale.
Michelle May, a buyer's agent, sounds a note of caution about unethical practitioners. She describes a tactic where agents quote inflated price guides to win listings, then discourage sellers from proceeding to open marketing. "They'll promise a magic price in order to win the listing, then show it to one buyer off-market, at little cost to their own reputation, and tell the seller the price is actually way too high," May said. "By then, the seller has signed a contract and is stuck with the agent." She also flags sellers attempting to hide property flaws behind the privacy of off-market transactions. "A lot of off-markets are B-grade properties trying to achieve an A-grade price."
The tension between convenience and value exposure sits at the heart of the off-market debate. Throughout 2025, Sydney's luxury segment has seen both off-market and high-profile auction sales that continue to set new benchmarks. However, broader market conditions suggest timing matters. When handled ethically and strategically, the off-market approach can serve both parties. May notes that her firm conducts significant purchasing over Christmas, when fewer buyers are active but some sellers with quality properties prefer not to wait for full marketing campaigns in February.
Domain president Jason Pellegrino maintains that listing on major property portals has distinct advantages. "It also brings transparency to a campaign, ensuring expectations around price are set realistically."
For sellers and buyers navigating Sydney's complex property landscape, the off-market phenomenon reflects a broader shift: the market is fragmenting. Well-located townhouses with low strata and strong land value component should also perform well, as they appeal to downsizers and young families priced out of freestanding homes. Different buyer cohorts face different pressures. Downsizers like Hipsley seek convenience and lower stress. Investors chase yield. First-home buyers hunt for affordability. In such a divided market, the private sale has become another tool in the negotiation arsenal. The question for participants is whether the comfort of privacy is worth the price.