POCKET LISTINGS FOR LUXURY HOME BUYERS
If you are looking to buy a luxury home in Solon, Ohio, there are usually many to choose from. In fact, Solon has more homes priced over $500,000 than any other suburb in the area. However, there is an entire "unknown" inventory of homes that you may not be aware of, called "pocket" listings. This article will define these types of listings and explain what is means to you as a luxury home buyer.
The term "pocket" listing is typically known only to real estate agents. Specifically, it describes a listing that a seller signs with their broker, yet it is never marketed publicly or put in the MLS ( multiple listing service ). Pocket listings exist in almost every market, especially ones with a lot of luxury homes such as Solon. The best way to find a pocket listing is by using a local real estate agent who specializes in selling luxury homes.
The reasons for a seller wanting their home to be a pocket listing vary depending on the situation. Some sellers do it for privacy. Perhaps they are going through a divorce and want it to remain private. Or maybe they have expensive personal items throughout their home and don't want people seeing them. For whatever reason, these sellers don't want a sign in their yard, or pictures of their home displayed to the general public. Other sellers simply don't want to go through the "hassle" of listing their home in the traditional manner only to have an occasional showing.
Sellers who choose this method of selling are usually very particular about who enters their home and expect all buyers to be serious and screened. If you are a buyer interested in seeing a pocket listing, be prepared to answer personal questions about yourself up front. You may also be asked for a capability letter verifying you are financial capable of purchasing the home. Sellers of pocket listings are still open to selling, and sometimes quite motivated, they just prefer to have more control of the selling process.
If you are looking to buy a luxury home, finding a pocket listing could work to your advantage. If your Realtor® finds you one that you love, there probably won't be a lot of competition for the home as it is not advertised to the public. This will also give you an opportunity to buy a very unique property that the average consumer never had a chance to see. In addition, you may get a very fair price as you will likely be the only serious buyer that seller has to choose from.
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About The Authors:
The Schuman Team specializes in luxury homes and are members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. They also work extensively with buyers and sellers who are relocating in or out of the area.
Dan and Amy Schuman are Solon residents. They use their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and the Schuman Team's listings sold in less than 60 days.
If you are looking to buy or sell a home in Bainbridge,Beachwood, Moreland Hills, Orange, Pepper Pike, Solon, or the surrounding Eastern suburbs of Cleveland, please contact the Schuman Team as they would be happy to show you why people love working with them.
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