WHY ARE SOME HOMES NOT LISTED ON THE MLS AND CAN'T BE FOUND ON ZILLOW?
Most homes for sale are listed through the Multiple Listing Service, MLS. It is a go-to database used by all realtors and many online listing sites such as Redfin, Zillow, and Trulia. Not all homes are put into the Multiple Listing Service. Why? What are the reasons some home sellers have to not list their homes on those platforms?
In an age so connected to technology and smart devices, why would someone forgo adding their home to the MLS?
In today’s technology-driven age you would think that every seller hoping to get the highest price for their home would want to put their home out in every marketing avenue possible. There are various reasons. it is actually not uncommon for sellers to go with a pocket listing. That's how non-MLS properties available for sale are called. A seller with a pocket listening is cautious about their privacy. They only want serious buyers and are not interested in opening their home to just anyone, especially not people just wanting to look around a gorgeous home. In some cases, a homeowner could be a high profile figure and would prefer to keep as much anonymity as possible.
Often they prefer a specific custom oriented marketing approach. The property might be aimed at satisfying specific market needs, as well as the price range, quality and the demographics that it is intended to target. Often those properties apply to a small market segment and are marketed accordingly.
In other cases, the homeowner would like to wait until the house is in picture perfect shape to post pictures of the property on the internet and they keep the home off the MLS for a few weeks until they feel it is ready. This can give a buyer a chance to swoop in and make an offer before it hits the market. Sometimes a property is in need of lots of care and renovation to be livable again, or it may be in a high maintenance location. Homes like this require special buyers and will be out of reach to the average buyer scrolling through listings online.
Where to Find a Pocket Listing?
If a home isn’t listed in the big MLS database, or with the online sites, how does a home buyer find out about it? The best way to find pocket listings is through an expert real estate agent. Some have properties "not publicly advertised" available. Also, highly professional and skilled real estate agents will have a network of other agents they work with and will know about pocket listings. They will be able to reach out to other realtors that may have pocket listings or know of upcoming pocket listings in the area.
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