You don't know the stress of selling a home until you're trying to sell one in a competitive market. In June 2023, 4.16 million existing homes were sold. With rising interest rates, it's a priority to get your home sold.
Sellers often hold open houses and post their homes on various websites. However, if you would rather show your home to a select group of buyers, you can always opt for a "pocket listing."
Whether or not this makes sense depends on your point of view. Off-market deals are a choice of home sellers for various reasons. One is privacy, and another is security. If a homeowner still lives in the home, they may want to limit the amount of foot traffic.
In this article, we'll discuss what does off-the-market mean regarding investment portfolio growth. Keep reading to learn the advantages of investing in Florida pocket listings.
Off-Market Deals, Private and Pocket Listings?
Off-market deals, private, and pocket listings are different terms used to describe the same real estate process.
These properties aren't listed in one of the MLS (Multiple Listing Service) databases. Brokers compile these databases and list all homes for sale in the area. You also won't find them listed on real estate websites such as Trulia and Zillow.
A private listing makes real estate marketing more selective. Instead of having thousands of people viewing a home, sellers can be more selective about the type of buyers they're trying to attract.
In the past, this type of homelisting was mainly used by celebrities and luxury sellers. It's recently become more popular in general real estate markets.
Finding Pocket Listings
Most buyers learn about a pocket listing by contacting agents from realty companies specializing in off-market real estate deals. If you're an investor, you can also try the following?
- Visit pocket listing websites
- Schedule a Private tour
- Network with brokers
- Ask other investors
Some pocket listings will eventually be listed in the MLS, while others will never be listed publicly.
Advantages of Pocket Listings?
There are a few advantages to pocket listings when it comes to costs. First, properties usually sell for their full price because they're listed in a specific, targeted market. Second, sellers can negotiate lower commissions when an MLS isn't involved in the transaction.
A few years ago, the National Association of Realtors passed a rule that could prohibit realtors from handling off-market deals. Some exceptions exist for off-market real estate deals.
The sale may go through investment brokers, bypassing the real estate agent. Two, someone looking for investment portfolio growth could use their network channels to find the right off-market listings. Three, the seller and buyer connect and close the deal themselves.
Are You Interested in Private Listings?
Unlock the doors of prime real estate with off-market listings. These off-market deals offer buyers and investors a unique advantage in terms of privacy, exclusivity, and the potential for significant savings.
Check out our exclusive pocket listings today. We're sure to have a property right for your real estate portfolio.