Talk to any real estate agent about the best strategy to sell a house, and two words will inevitably come up: “Maximum exposure.” Typically, we want as many eyeballs on your listing as we can possibly get, even if it’s from people thousands of miles away in another province or country.
However, not everyone wants the world to know about their upcoming move. Maybe you’ve got a good reason to guard your privacy, like a contentious divorce or other personal matter. Or maybe you just prefer to keep your comings and goings on the down low. In either case, is it still possible to sell your house discreetly? In this post, we’ll explore a few of your options.
If you’re ready to sell, our detailed Seller’s Guide is a tool you will want to keep handy. Download your copy right here.
The Truth About Real Estate Exclusives
A few years ago, an exclusive listing agreement was the ultimate solution for those seeking to sell a home without attracting unnecessary attention. It meant that a house would not be listed on the MLS®; instead, the real estate agent would promote it quietly throughout their network.
Over time, some agents and clients became concerned that real estate exclusives could reduce transparency and create an unfair market. Thus, the government introduced the new REALTOR® Cooperation Policy in January 2024.
Like all new rules, this one was the subject of many myths and misunderstandings. First and foremost was the misconception that real estate exclusives were now forbidden, which obviously is not true. What is true is that all real estate agents and brokerages have a “duty of cooperation.” When selling your house privately, your Realtor® can still market your listing throughout their own offices or one-on-one contact with other real estate agents.
If any public marketing happens, such as flyers, yard signs, email blasts, or digital advertising, the home must then be placed on the MLS® within three calendar days. The aim of this rule is to ensure that all prospective buyers have a fair chance to bid on the property if they wish to. It also helps sellers by generating as much exposure as possible. Keep in mind that the three-day rule only applies if and when public marketing begins. Otherwise, the arrangement can last as long as the seller and real estate agent agree.
Everyone selling a home has a story. You just might find specific advice for your situation in the posts below:
- How to Sell a House Fast
- Can You Sell Your Peterborough Home Remotely?
- What If Your House Has a Stigma?
The Limitations of Selling Your Home Privately
Public listings exist for a reason. The more potential buyers who know your home is for sale, the more likely you are to receive offers. Advertising heavily throughout targeted neighbourhoods and online can also create real demand for your property, possibly even generating multiple offers if enough people are interested.
A private listing does give you discretion. However, it can also limit your chances of generating excitement and finding a buyer. If you’re relying on a fast sale at the highest possible price, an exclusive listing might not be the best path as it reduces your exposure.
Your agent can promote your home through their brokerage or by networking individually with agents at other firms. Finding the right match for your home could take time when going this route.
The Advantages of Exclusive Listings
Exclusive listings work best when you are not in a rush to sell your home and discretion is your top priority. Often, they’re effective when selling high-end homes where the pool of buyers is naturally limited. This privacy makes exclusive listings ideal for public figures, such as celebrities and prominent professionals.
Luxury real estate buyers are often found through networking and word-of-mouth rather than traditional advertising. A public listing might be less effective in these scenarios. A buyer may be found eventually, but could also generate a rush of curiosity seekers who want a sneak peek at what the home looks like on the inside.
Even with premium properties, exclusive listings take time. However, they can result in finding a qualified buyer without hype and unnecessary stress.
Whether you sell your house privately or market it publicly, beautiful presentation is a must. The posts below will help:
- What Home Features Matter Most to Buyers?
- Why Should You Stage Before Selling Your Home in Peterborough?
- Selling a House in Peterborough From A to Z
A Combination Approach
Real estate is constantly changing, and professional agents need to evolve with the times to serve their clients. That’s why many real estate agents recommend a nuanced approach for clients who want to protect their privacy while still selling quickly and earning a high return on investment.
An exclusive listing gives the brokerage a chance to find a buyer before the home goes onto the MLS®. If the listing becomes public, you still have some options about what platforms to advertise on. For example, you might decide to concentrate on online advertising and promotion through local real estate boards while forgoing open houses and outdoor signage.
Technically, this wouldn’t be a “private” or exclusive listing. At the same time, it allows you to increase your exposure to qualified buyers without broadcasting your move far and wide. The result could be everything you’re looking for: a profitable sale, quick timing, and discretion.
Do you want more personalized advice to meet any challenges you are facing in selling or buying a house? Our Peterborough real estate agents are here to support you every step of the way. Reach out to team@jeffandkatie.ca or call 705-243-9797 to learn more.
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