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If it's a strong market, it is probably an "inside" deal in that it's someone who knows someone who knows someone who's looking for anything new that is coming.
They may have gotten an offer that is as good as it's going to get already.... without having to clean, stage, or be ready for appointments. Easy.
I closed a condo listing sale two weeks ago.
It was "Coming Soon." "No Showings."
So, I can advertise it, but cannot show it according to our local MLS rules.
On our MLS, DOM does not start ticking until the listing is Active for showing.
Buyer ponied up a great cash offer without seeing the unit. So, a legit "0 Days On Market."
Not an inside deal of any sort. Just an aggressive buyer who grabbed the opportunity while others waited for the showing date.
I wrote one like that myself a few years ago. Townhouse was off the market, but coming back, and we knew the floor plan.
My buyers said, "What the heck. Let's write." Done deal. They still live there.
At least where I am, listings do not have to be in the MLS. When you see things like this it is because the agent wants there to be a record of that sale on the MLS for whatever reason. Maybe to show future customers things they have sold. Or because our MLS requests that we do this in order to have the most complete information for future comps and maybe some people just want to comply with this.
If the seller announces they are moving to their neighbors at a party and one of their neighbors tells a Friend who buys the house before the MLS listing is through processing, is that an inside deal?
The realtors listing the house usually pass the listing around to the other realtors in their office to see if anyone has a buy who might be interested. Meanwhile they are initiating the MLS process. If one of the other agents happens to be representing someone who wants and buy the house right off, is that an inside deal?
Some brokers have their own website where the put listings up first before gong to the MLS. It gives people a reason to visit their website rather than just waiting for MLS listings. If someone buys it off the website before there is an MLS listing, is that an inside deal?
I know a couple going through a divorce. I have a buyer who wants a house just like theirs. I went to said couple and put together a contract that all 3 agreed was a pretty good deal for all parties.
House never went on the market but I will put it in the MLS when it closes so we will have neighborhood comps (with the permission of the new owner).
I see some homes that are listed once in a while and go pending right away and in the listing description it says “sold before processing “
Are these usually inside type deals .
Or the buyer is buying direct from a homeowner but using an agent to handle the transaction .. but maybe still has to be listed on mls for procedure ?
Just doesn’t seem to make much sense not to just keep it listed for few days or a week to get multiple offers especially in this market .
Some neighborhoods are so desirable that some agents having people waiting to get in that neighborhood thus the for sale may never become public. I think they call it "pocket listings".
Some neighborhoods are so desirable that some agents having people waiting to get in that neighborhood thus the for sale may never become public. I think they call it "pocket listings".
Yeah many homes in L.A are getting many offers right now .
I know about pocket listings but wouldn’t that mean it’s not listed at all if it’s a pocket listing ?
I know that’s more common with some of the high end homes where they don’t want the public to know it’s in the market .
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