When there are fewer properties to sell, we tend to see more brokers promoting exclusive access to off-market listings. It can be tempting to respond to ads like these. After all, you don't want to miss out on any "private and exclusive opportunities".
But keep in mind, ads like these are sales funnels. And they're funneling you into "pocket listings" that benefit the advertising broker -- a broker who often receives both sides of the commission by withholding the property from the larger market.
Yes, private listing programs are perfectly legal. But it's also fair to question who benefits most from these promotions, and how private listing programs impact housing availability in the broader community.
Are private listing programs a practice that the real estate industry should engage in and promote? This is a fair question to ask at a time when real estate has become such a scarce resource.
This article is published courtesy of:
Dan Miller, REALTOR
Mad City Dream Homes & RE/MAX Preferred
1619 Monroe Street #1, Madison, WI, 53711
