The Hush-Hush World of Celebrity Secret Listings Revealed!
You’ve seen celebrity home photos featuring homes most can only dream about. These pictures emanate from multiple listing services, the 900 plus databases of homes for sale that real estate web sites, home sellers and buyers use. Most sellers want their homes to be seen by as many potential buyers as possible.
But many of the fabulously rich would rather not allow anyone to digitally tour their expansive digs or even find out how much they are asking. So how to protect privacy and also get good prices from legitimate, qualified buyers?
What are Pocket Listings?
The answer is called ‘pocket listings’ marketed by brokers and agents without listing them on an MLS as pocket listings are controversial. MLSs are more than big databases and include cooperative preparations where the estates pool all listings and compensate other estate agents if they come up with a ready buyer for a listed property. Brokers who don’t place A-listings on the MLS don’t have to share the commission with a broker representing the buyer. Thus, brokers must an incentive to not have their clients and their homes appear on the MLS, which is a tad bit concerning.
However, wealthy sellers happily sign on the dotted line to protect their privacy because:
- Some sellers need flexibility by testing various price points on small, discrete groups of vendors before hitting the MLS. This prevents being locked into the first price posted on the MLS.
- Testing the waters before listing on the MLS reduces the time that a listing will publicly on market. If a home has been for sale for 30 – 60 days or even longer, buyers usually make low offers.
- With a pocket listing, a seller/agent quietly assesses the market.
A mini-industry of real estate brokers and web sites has now sprung up
How Pocket Listings protect Privacy
What started as popularizing future listings, has evolved as a secondary market of homes for sale by well-connected real estate agents. One Dallas Sotheby’s broker reports 30 percent of her business is outside the MLS. The MLS service for exclusive counties in California estimates that homes that never hit the MLS, sold in its territory rose from 12 % in 2011 to 15 % in 2018, and grew to 26 % in the first quarter of this year. Some tactics used to sell secret listings discretely are:
(i) Web sites
Different from normal property-based web sites, these pocket listings show one photo at most, include basic information about the house and never disclose the owner. Probable buyers have to be registered to actually see the listings, receive emails / newsletters about listings as they are available. LApocketlistings and Buyhomesinsocal are prime examples.
(ii) E-mail and Social Media
Brokers who have expertise in pocket listings find “qualified” customers and their agents to email them some properties for sale. They also use Facebook, Twitter, LinkedIn or other social media platforms to reach out to buyers.
(iii) Open Houses
They may be old-fashioned but open houses are a great way to show new listings to agents who represent wealthy buyers.
Yet after many months of off-market marketing, many celebrity homeowners may not receive offers as expected. They turn to multiple listing services to find more buyers than the pocket listing agents can reach out to. If they’re famous when their home hits the MLS, reaching millions aren’t a problem.
Here’s Why You Should Know What Prebiotic and Probiotics are
You can never be one up on the health and wellness trends as some new concept always crops up. Probiotics is...June 24, 2020
These Huge Stars Have Extra-huge Mortgages that We Can’t even Dream about
We gaze spell-bound at amazing mega-mansions and estates on the internet and follow the real estate ventures of celebs and ultra-rich...June 18, 2020
These Odd Museums from around the World Will Astound You!
Plastinarium, Guben, Germany After 39 years of dissection, chemistry, and medicine, Gunther von Hagens honed his plastination skills by using...June 14, 2020
These Celebs had Secret Children and Some Didn’t Even Know until Much Later – Part II
It’s an ancient script: rich, famous man meets and mates keen, pretty woman. Fast-forward nine months and surprisingly, a baby suddenly...June 14, 2020
We Bet You Didn’t Know How Profitable These Celebrity Fashion Lines Were – Part II
Of course, there are celebs who are happy with the money that they earn from their craft. But there are a...June 10, 2020
Her Inspirational Story of Being a Professional Debt Coach Will Move You
Sonia Lewis is your girl-next-door. But her story of being a professional debt coach is something you would want to hear....June 10, 2020
This Celebrity Business Manager has Some Brilliant Advice for You
Kristin Lee is a business manager who has several celebrity clients. Her list varies from actors to musicians to athletes. Not...June 9, 2020
Odd Judgment: California Coffee Shops Must Post Cancer Warnings
The numerous courts in our country work on tons of cases everyday. Judges, on the other hand, decide on the ruling...June 9, 2020
Celebrity Weddings You Didn’t Know Were Crazy Expensive
Weddings are expensive in themselves. Couples need to prepare an average of $35,000 just for their big day. That amount alone...June 6, 2020