When you list your home with an agent who markets it effectively, information and photos will be all over the Internet, along with the address and a lot of other information about your home. And there will be people coming through, either by appointment with their buyer broker or at Open Houses.
It doesn't have to be this way, but is the alternative in your best interests?
Often, especially for people in upper-brackets homes, a broker will offer to list the property as a "Private Exclusive". And sometimes this approach makes sense. In most cases, the result would be that either the listing agent or someone in his company would sell the property. This is because it will not be placed on the multiple listing service, and agents outside of the listing company are unlikely to know that your property is even for sale.
So who is a good candidate for this approach?
- If you are a famous American with privacy concerns, selling your home as a private exclusive will cut way down on the number of people who will be traipsing through your home.
- If you have a family member who is very ill and at home, there will be fewer showings to inconvenience the patient and the caregivers.
If the company listing your home specializes in your type of property, they could sell it reasonably quickly and perhaps even for close to its market value. And experienced buyer brokers know which companies keep a lot of certain types of listings in their pockets, and they will call their friends at that company for information. They also know that there will likely be little or no competition from other buyers, because relatively few people will know this type of listing is for sale - and this often translates into a lower price for the buyer.
But if you are a seller without very special needs, you are better off having your home listed on your local multiple listing service with an agent who will aggressively market the property.
Bottom line: if you want a quite transaction, it could very will make sense for you in certain situations. But it will almost certainly result in a lower selling price and a longer time on the market.
If you are planning a move to or from the Washington, DC area, I can help! I am licensed in the District of Columbia, Maryland and Virginia. Email me at Housepat@mac.com, or call 202-549-5167