Whether or not you’ve sold a home before, you likely believe that the objective is to get as many eyes on your listing as possible. So, what’s the benefit of a private MLS listing? Yes, that’s a thing. At JohnHart, we often refer to these as “off-market listings,” and, as a single broker firm, we have rare access to them. That’s great for us, but where does that leave a seller? Why would they opt to sell their home through a private MLS listing as opposed to a more traditional method? To most effectively answer that question, let’s take a closer look at both listing types. You may surprise yourself by preferring the off-market option when we’re through!
The Benefits and Possible Setbacks of a Traditional Listing
Let’s start with what you likely already know: a traditional home listing. With traditional listings, the process is pretty straightforward. The listing is input into the Multiple Listing Service (MLS), carefully adhering to its stringent guidelines. From there, it’s syndicated across the major online real estate marketplaces, including Zillow, Redfin, and Realtor.com. Obviously, this is great for getting eyes on a new listing.
In most cases, those who opt to traditionally list their homes are hoping for multiple offers to drive their sale well over the initial listing price. But it can take time for a prolonged marketing approach to attract that kind of result. And it often involves open houses and guided walkthroughs that some home sellers may deem intrusive.
Why Some Sellers Opt Instead for a Private MLS Listing
A private MLS listing, as you can probably guess, is not marketed to the general public like a traditional listing. Then who sees a private MLS listing? Other real estate agents in a brokerage’s network – many of whom have interested buyers champing at the bit. Sometimes, these off-market listings stay in this exclusive status for a short time before hitting the larger public market. Other times, they’re strategically held back from the public market.
So, what’s the appeal of a private MLS listing? Well, a major one is privacy. Celebrities and high-profile sellers frequently opt for off-market listings to maintain a degree of anonymity. A private MLS listing also offers the seller more control over who physically sees the property. And since the home is only being shown to an exclusive niche of interested buyers, some sellers simply find it to be a more fulfilling, streamlined experience. Of course, this often means fewer offers and a smaller pool of potential buyers. But in cases where a seller is privately listing a luxury property to an engaged cache of reliable buyers, fewer offers don’t seem like too steep a price.
Is a Private MLS Listing right for Your Sale?
What determines whether you list publicly or opt for a private MLS listing of your home? It’s largely a matter of preference. Want to spark a bidding war? Is yours the type of property that would benefit more from getting as many eyes on it as possible than trusting it to an elite few? Both of these questions point toward a more traditional method of listing.
Now, if you highly prioritize your personal privacy or want to strategically test the market, then the appeal of a private MLS listing should be clear by now. It’s part of the reason why you’ll find so many luxury listings quietly going this more exclusive route. They still manage to sell at what they’re worth, sometimes even over, but without a full circus of open houses and showings between the listing and the sale.
Of course, you’ll also hear of sellers starting off the MLS before moving onto it if the response isn’t to their liking. In any case, a home seller must carefully consider the timeline, pricing strategy, and the behavior of their neighborhood’s housing market before deciding which listing method will be to their benefit.
Consult with a Professional
At JohnHart, you can choose to sell your home either through off-market means or a more traditional listing. And our agents are well-versed in both, so they can guide you to the solution that works best for your unique situation. If you do choose a private MLS listing, rest assured that, as a brokerage with rare access to off-market listings, we have a reserve of buyers specifically looking for these exclusive opportunities. Still not sure which is right for you? Then get a professional real estate agent’s opinion!
With a brand that says as much as JohnHart’s, Senior Copywriter Seth Styles never finds himself at a loss for words. Responsible for maintaining the voice of the company, he spends each day drafting marketing materials, blogs, bios, and agent resources that speak from the company’s collective mind and Hart… errr, heart.
Having spent over a decade in creative roles across a variety of industries, Seth brings with him vast experience in SEO practices, digital marketing, and all manner of professional writing with particular strength in blogging, content creation, and brand building. Gratitude, passion, and sincerity remain core tenets of his unwavering work ethic. The landscape of the industry changes daily, paralleling JohnHart’s efforts to {re}define real estate, but Seth works to maintain the company’s consistent message while offering both agents and clients a new echelon of service.
When not preserving the JohnHart essence in stirring copy, Seth puts his efforts into writing and illustrating an ongoing series entitled The Death of Romance. In addition, he adores spending quality time with his girlfriend and Romeo (his long-haired chihuahua mix), watching ‘70s and ‘80s horror movies, and reading (with a particular penchant for Victorian horror novels and authors Yukio Mishima and Bret Easton Ellis). He also occasionally records music as the vocalist and songwriter for his glam rock band, Peppermint Pumpkin.
