When selling their homes, many owners want to reach as broad an audience as possible. Real estate websites, social media, even a dedicated page for YourAddressHere.com help spread the word.
But not every seller wishes – or hopes – to cast a wide net.
That’s where “private exclusives” (also called “whisper listings,” “pocket listings,” “off-market listings” and “withheld from MLS listings”) come in.
Our friends at KMS Team at Compass explain: “Offering discretion and quality, private exclusive provide the flexibility to share details about your property to selective audiences, without divulging details to the general public.”
In this area, MLS regulations allow a “private exclusive” to be activated on market after a minimum of 30 days of private marketing
Sure, you can find this $10.8 million, 6-bedroom, 7-bathroom, 7,000-square foot home on Owenoke Park on local realtors’ Multiple Listing Service. But other great properties are unlisted “private exclusives.”
That allows sellers to test the market. Meanwhile, realtors gather insights about pricing or presentation, making any necessary edits to the offering.
Private exclusives also allow owners of unique properties to spend time locating the ideal buyer. At the same time, they feel a sense of security that photos and floor plans are not available to the public.
Prospective buyers who tour private exclusive homes understand that they’re getting an early look. That can lead to attractive, pre-public listing offers.
We’ve all heard the three keys to real estate: “location, location, location.” For buyers and sellers alike, it’s good to know that every property is not necessarily located where everyone can find it.