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.