Whisper Listings & Other Off-MLS Listings
Do You Know What A Whisper Listing Is?
Off-MLS listings, also referred to as "whisper listings" or "pocket listings" used to be de rigueur for luxury listings for celebrities and other high-end sellers who wanted to protect their privacy.
Today, these top-secret listings are increasingly found at all price points, as more sellers test the market without the commitment of officially putting their properties up for sale.
Why? Because they can.
In case nobody has mentioned it to you lately, it's a sellers' market out there. Multiple offers and bidding wars are the norm on LA's Westside. Sellers are writing their own rules, and this development has not gone unnoticed by the mainstream press.
Technology has also contributed to whisper listing madness. Agents and brokers are using apps and closed social media platforms to readily communicate with each other about these listings. In the old days (like about three years ago), the only way to privately get the word out about an under-the-radar listing was to send a blast email to crowded inboxes or start dialing over-limit voicemail boxes.
Whisper listings can work to a buyer's advantage, but only if you know about them. When I help sellers get the highest price for their listings, I advise mass exposure to bring the most offers possible. Sellers who intentionally opt to limit their property's exposure invite fewer offers and that means less competition for buyers.
I work for one of the largest residential brokerages in the country. I hear about off-MLS listings all the time through my network of colleagues and contacts. Let me be your secret agent. Call my shoe phone now.