Real estate agents show homes that aren't officially listed to give clients exclusive access to pocket listings and off-market deals. These properties come with competitive advantages and faster sales, like a quick off-market deal in Leon/Leelanau County that moved without public listing.
Do real estate agents show their clients homes that are not listed on the market?
They are not available on Zillow, Realtor.com, Trulia, et cetera.
You can't find them anywhere publicly listed. Yes, there are several reasons why real estate agents might show their clients homes that are not on the market.
And if you stick with me till the end, I'll share a little story about an off-market property that I sold right here in Leon County. All right, Let's get into it. Exclusive listings. Some sellers choose not to list their properties publicly on the Multiple Listing Service or MLS. And remember, properties listed on the MLS are automatically syndicated, if you will.
It's called an IDX. The MLS automatically feeds realtor.com, Zillow, Trulia, et cetera.
So instead of doing that, some sellers work with agents who have access to a large network of potential buyers. These exclusive listings are often shown to clients by their agents. Next, pocket listings. A pocket listing is a property that is marketed privately by an agent or brokerage without being listed on the MLS. Sellers may opt for a pocket listing for privacy reasons. Maybe they just want to test the market without publicizing the sale, or other personal considerations. Next, coming soon listings. Agents sometimes have access to properties that will be listed for sale in the near future but are not yet officially on the market. They may show these properties to clients who are actively searching for homes, giving them a sneak peek before the listing becomes widely available. Off-market opportunities. Agents may have connections with other agents or homeowners who are considering selling their properties but have not yet listed them for sale. They may show these off-market opportunities to clients who have specific criteria that match the potential properties. Next, meeting client preferences. By showing off-market properties, agents can demonstrate their dedication to finding the perfect home for their clients.
They may uncover hidden gems or exclusive opportunities that align with their clients' needs and preferences.
Competitive advantage. In a competitive market, accessing off-market off-market listings can give clients an edge by allowing them to consider properties that may not be available to the general public. This can be particularly advantageous in areas with low inventory or high demand. Overall, showing clients homes that are not listed on the market is a strategic approach that real estate agents use to provide additional options and opportunities that may not be readily available through traditional listings. It underscores the importance of having a knowledgeable and well-connected agent who can navigate various avenues to find the right property for their client. All right, one quick little story related to Centennial Farm here in Leon County. So I was approached by a seller who—
this was actually during the COVID time— he wanted to sell his property and he said, I don't want it listed, I don't want to sign out, I don't want dozens of people walking through my home. My wife is super concerned about COVID This was during the COVID time.
We just don't need that exposure and hassle of showing the home. Can you bring me a buyer? And I said, well, what are you looking to get out of it?
And he gave me a price, and I said, whoa, I definitely can find you. I think you're leaving maybe $50,000 to $100,000 on the table, however, by not marketing this property publicly.
And he says, you know, I know my numbers, I bought it right.
He actually bought at an auction. I need to make this a quick sale, and my wife wants to get back to her hometown, and I need to make this happen right away. And so that was an example of an off-market deal. I was able to go to one of my many buyers that are in my network, and we put a deal together very, very quickly. And I actually— my buyer went above the original asking price because he recognized the value and wanted to be fair.
So that's a nice story, a nice Leelanau County story of how I, as an agent, put a deal together that was off market.
