Private Listings

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What is a Private Listing?

And why some sellers and buyers prefer them.

A Private Listing is a written agreement that allows a broker to sell a home on behalf of its owner without putting the house on the Multiple Listing Service.

While the MLS will expose the listing to a vast number of agents and possible purchasers, the publicity surrounding the sale can create aggravation for a homeowner who wants to discretely find a buyer. This arrangement will allow the seller to test the market with a degree of privacy and convenience and avoid the aggravation of many showings, sometimes to purchasers who are not qualified or who are “just looking.”

Buyers feel an advantage because this presents them with an opportunity to see a house that has not been advertised anywhere else. Private Listings are sometimes a precursor to a conventional MLS listing, should the the property not sell within a certain timeframe. If the listing agent brings together both buyer and seller for the purchase, a reduced commission is charged. If another agent brings a buyer to the table, compensation is paid to the outside broker.

“Private Listings make up just a fraction of the overall real estate market, but when this type of sale comes together, it’s a WIN- WIN for all parties involved.”

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