When we first meet with our clients, both buyers & sellers, we introduce them to the idea of a private listing. Most of them are quite surprised to learn that many homes are bought and sold without ever showing up on the major listing websites. The follow up question that we get is why someone would choose to market their home as a pocket listing. We’re here to answer that question.
What is a Private Listing?
A private listing is a home that the owner is ready to sell, but doesn’t want marketed publicly. The listing agent for the home can place the home on private listing sites that are only accessible to licensed agents. They can also just utilize word of mouth to look for a buyer of the home, often reaching out to their network of agents to spread the word. Top realtors in Chicago regularly use these resources for their private listings. Most homes are listing on the MLS or Multiple Listing Service.
What are the benefits of private listing?
Sometimes sellers don’t have an immediate need to sell their home, but they do want to move forward with marketing it. In these cases, we’ll do all of our initial prep work for the home and get some photos done. Then we place it on a few private listing networks. These are only accessible to licensed agents. The seller doesn’t have to endure lots of shows with buyers who aren’t serious or who are ‘just looking.’ Every buyer that views a home on the private network is already working with an agent and has eliminated the current inventory available. They know what they want and they’re serious about buying. Zimmerman Property Group has sold several homes from just one showing while on the private network.
Are You Missing out on Your Dream Home?
Imagine that your dream home is for sale right now, but it’s only listed on these private networks. If you’re not working with an agent who knows how to utilize these resources, you are going to miss out. At Zimmerman Property Group, our agents scour the private networks every day looking for homes that match the needs of the buyers that they are helping. We don’t want someone else living in your dream home.