In a growing shift that challenges traditional real estate practices, over 20% of Sydney homes sold in 2024 were never listed online. Sellers increasingly sought off-market deals to avoid high advertising fees or gauge interest without committing to a full listing. While this approach offers efficiency for agents and buyers, it raises concerns about transparency and weakens the influence of major listing websites.
Online platforms such as realestate.com.au and Domain continue to be dominant, though their hold is loosening as off-market transactions increase. QuietList, an independent platform founded by professionals from finance and property sectors, reviewed 33,000 sales across 10 Sydney council areas in 2024. The study found that 20.5% of sales occurred off-market, with suburbs such as the Northern Beaches reaching as high as 35.1%.
QuietList operates on a subscription basis and connects buyer's agents with selling agents. The platform is benefiting from a rise in buyer's agent involvement, which now contributes to about 30% of sales at some agencies. In contrast, suburbs like Waverley recorded a much lower off-market rate at 8.1%, indicating that localised market dynamics and vendor preferences significantly affect the trend.
The increasing use of off-market sales represents a major shift in how property is sold in Sydney, Australia's most expensive housing market. The process can be faster and more discreet for some sellers, but it removes the open exposure offered by online listings, which may affect overall market clarity. With listing fees on major sites climbing to $10,000, many sellers are turning to more affordable and direct methods. Yet, variations across suburbs and the lack of year-on-year benchmarks make it difficult to determine the longevity of this trend.
