As real estate nation wide continues to experience this boom, one trend that has caused some issues around the country and especially in Nashville involves whisper, or pocket listings. A whisper listing is when a seller allows their broker to exclusively market their property off of the MLS. Typically this is done when a seller would like to retain a certain level of anonymity, or when money is not the driving factor. In some cases, the timeline in which a seller wants to close on their property is such that finding the right buyer is easier than the right buyer finding you! The issue with these types of listings, is that it further limits the generally available inventory.
In markets like Nashville, where competition is already incredibly fierce, this can make it seem impossible for some buyers to feel like they even stand a chance. Some even argue that it is unethical because it effectively restricts everyone from having an equal opportunity to the listing. However, this is still a seller's market, and if privacy or timeline or any factor other than the bottom dollar are primary concerns of the seller, they are well within their right to market the property however they feel most comfortable. If you are a buyer wanting to know how you get access to these listings, it is all about who you know! If your agent works with a brokerage like Village Real Estate, then they have access to the pocket listings of several hundred agents. For more info, or if you have any questions about pocket listings, please reach out!
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