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Silent listings

Discussion in 'Real Estate' started by Jacque, 24th Mar, 2006.

  1. Jacque

    Jacque Team InvestEd

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    16th Jun, 2005
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    Location:
    Sydney
    A common term that's heard in RE is a "silent listing". This refers to a property that isn't advertised through the normal channels but is instead listed with the agent on the understanding that no signage or obvious advertisments are used to market the property. Usually well known personalities or those who wish to remain quiet about the sale of their home use such tactics and rely on the skill alone of the REA to sell their home discreetly and without fanfare.
    A perfect example of this recently occurred in a relative's street, and it achieved a record sale for the area. My relative was amazed that something could sell like this without any publicity whatsoever.
    Just another example of why, when searching for your next purchase, it's imperative that you contact EVERY agent who services the area you're looking in and maintain regular contact with them, to ensure that you're first on their list for such silent listings.
     
  2. jscott

    jscott Well-Known Member

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    Perth
    Great point Jacque. I've been shown properties by agents that weren't on the websites and had no signs as well - whether they were silent listings or they just hadn't got around to doing the advertising or not though, I'm not sure.

    In fact another reason to get friendly with the agents is that (if they're good ones) they seem to know what properties are "about" to come on the marketas well...
     
  3. Jacque

    Jacque Team InvestEd

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    Location:
    Sydney
    Definitely. Especially if they happen to be the agency's preferred or "top" lister, their access to what's possibly coming up is valuable.
    I can't emphasize enough how important it is (and what I offer to my clients) to contact every agency within your selected area. Quite often, this can include neighbouring suburbs and you also quite commonly end up speaking to more than one agent in an office. Even in these days of improved RE service, some agents do hide their listings from other agents in the same office. When times are tough, and they don't want to share in the profits, I'm told this goes on more than it should.... ;)
    So don't feel the need to be especially loyal to one agent for this reason. They may be friendly with you, but remember that they're always better friends with the vendor :D