Are you an agent/seller and maybe you have a listing where you are just not ready to list on the public MLS?
Do you want the ability to test your pricing without accruing precious days on market?
Sign up on PocketMLS.com and list your property on your own price and terms.
What is the Private Listing Network?
The Private Listing Network emerged as a solution to the growing trend of off-market listings. Before 2015, many homes were being marketed through closed groups, brokerage apps, and "coming soon" signs. These "pocket listings" were often challenging to track down. The Private Listing Network provides a centralized platform where agents can market these homes in a limited manner and share them with potential buyers.
Why Sellers Choose Private Listings
Several reasons might lead a seller to opt for a private listing:
- Privacy concerns
- Time to prepare the home before going live
- Pre-marketing opportunities
- Testing different price points without appearing indecisive
Benefits for Sellers
The Private Listing Network offers several advantages to sellers:
- Marketing without starting the market time clock
- No visible price history for buyers to analyze
- Opportunity to create exclusivity and competition
- Flexibility for sellers with uncertain timelines
Advantages for Buyers
The Private Listing Network also benefits buyers:
- Access to additional options not found on consumer sites
- Opportunity to secure properties before they hit the public market
- Exclusive access through MLS-connected agents
The Importance of the Private Listing Network
In the Chicago metro area, a staggering 19% of all homes sold from the MLS began as private listings. This statistic alone emphasizes the significance of the Private Listing Network in today's real estate market.
How to Leverage the Private Listing Network
For Sellers:
- Consider using the private network to test the market
- Utilize it for flexible selling timelines
- Create exclusivity and leverage for negotiations
For Buyers:
- Work with an agent who has access to the Private Listing Network
- Be open to listings with limited information or photos
- Act quickly on opportunities that arise
Conclusion
Whether you're representing buyers or sellers, the Private Listing Network is a powerful tool in your real estate arsenal. By understanding and utilizing this resource, you can provide added value to your clients and potentially close deals more efficiently. Stay informed, stay connected, and leverage the Private Listing Network to elevate your real estate game.
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