Princeton Town Topics – Let’s Talk Real Estate – February 5, 2014
QUIET LISTINGS ARE NOT THE BEST CHOICE
So-called “quiet listings” or “pocket listings” earn their name because they’re kept off the general listing of available homes, handled instead by an agency who keeps the listing private (in their “pocket”).
Although quiet listings are usually the purview of celebrities who don’t want their private information like addresses made public, anyone can use them, and sometimes, an agent may even suggest a quiet listing. The question then becomes, is it a good idea?
Almost universally, the answer is no. Quiet listings offer few, if any, advantages to sellers or buyers. Here are some of the top reasons a quiet listing can fall short of your needs;
– A pocket listing eliminates a huge number of potential buyers, which can result in a lower sales price or less favorable terms.
– It also eliminates the sense of urgency buyers may feel when they know more people can view the listing.
– Although a quiet listing may let you control how many people view your home, it doesn’t eliminate the need to keep your home in showing condition at all times, sot here’s no time savings.
– Quiet listings may cause some buyers to feel discriminated against since the listing is not made available to everyone.
Based on all those factors, the answer is clear: Using the Multiple Listing Service (MLS) rather than opting for a quiet listing is a much better — and generally more profitable — choice.
