In the Cincinnati market where inventory is extremely low, we are finding it more common that agents are networking to match up Buyers and Sellers with properties that are not even on the market. Often times, this creates a win-win situation for both the Buyer and Seller. The Buyer gets a chance to see the home before the general public. The Seller may be able to sell without having to deal with numerous showings and people coming through their home.
We have several clients that are going to be listing their home, however, there are reasons it does not make sense to put it on the market at this very moment such as:
- there is a tenant in process of moving out
- owner is making repairs to the home
- we are preparing marketing materials and need to get those completed
- owner is getting the home touched-up or staged to show
- owner is waiting until they find a house they want to move to
- other individual needs of the family
Pocket listings can be controversial, and there are many different situations that people describe as a pocket listing. The reality is that in this market, with low inventory and high demand, pocket listings are inevitable because there is always a time period from the point when someone starts the home selling process and when the home goes in the MLS. During that time period (whether it is months or days), the Seller is talking to neighbors and people telling them that they are going to be selling. The agent they are working with may be talking to Buyers about the listing that is going to be coming on the market. This is how, just by word of mouth, homes are being sold before they are open to the general public.
We are a real estate team that prides itself on staying on top of market conditions and adapting to changes, in order to service our clients better. In this ever changing real estate market, we felt it necessary to have a space for listings that are not yet on the market.
See them before they are listed! You have priority over any other Buyers in seeing these homes before they are seen by the general public. Contact us for a full list of upcoming homes for sale, more details, or to schedule a showing.