I don’t know if you get the Dallas Business Journal or not, but as of late (like ever since I started this blog,) they have been tinkering with residential real estate. Tinkering I say because like most media outlets, the poor journalists have to cover about five different subject areas and mop the bathrooms after five, plus report, write and blog. So I understand how things run behind or not at all. But this truly gave me a chuckle.
You have to pay for a subscription to the DBJ, so I will quote Carlisle’s piece for you:
“Interestingly, I’ve discovered that not everyone lists multimillion-dollar properties on the market when they’re for sale.”
Eureka? Have we not been talking about these things called hip pockets since, oh, about March or May?
(Killing me: Don’t give me such shocking news, Candice. Excuse me, Candace.)
Then she quotes Rogers Healy,our Rogers Healy (who sold the M Mansion by Auction), who is practically my son, as saying that not listing an expensive home doesn’t hurt a mansion’s chances of selling, and in some case can help it.
“There’s some exclusivity of not putting a house on the market,” Healy told the Dallas Business Journal in an exclusive tour of a $12 million mansion that’s for sale, but not listed on the Multiple Listing Service. “When you look at who buys a multimillion dollar mansion, these people aren’t searching MLS.”
Selling homes in a hip pocket sale — a residential real estate industry term for an off-market deal — has gained traction in recent years as the housing market heated up, Healy told me.
The house they were touring was 9800 Rockbrook, which we showed you over a month ago. Rogers told Carlisle that the no-MLS route gives buyers the illusion of exclusivity, and has been working positively for the Rockbrook mansion on the market. He said he has shown it, a 10,600 square foot home on 1.73 acres, to three interested buyers. The story posted on CandysDirt.com on August 21, 2013.
This got me thinking: we know that having properties in the MLS increases exposure to more, way more buyers. In fact, Rogers himself says “With a number of out-of-state relocations bringing high-end buyers to the Dallas-Fort Worth market, Healy said he expects the luxury home market to continue to remain hot for some time.”
Question: how are those out of town buyers going to find any homes to buy? They will be on the internet looking for homes, and if the home is not in the MLS then it won’t make it to a third party portal. They could find it here on CandysDirt, of course, the agent is smart enough to call me, as Rogers did. Which may be why he had three serious showing.
Or smart enough to get Candace Carlisle to write about it.
I just don’t understand how sellers expect agents to sell homes, in MLS or not, if they cannot market them. You need to tell the world, rich and poor, about the house so the right buyer perks his ears up. You cannot be all anonymous and find buyers. I mean, can you?