Home Selling in San Jose>Question Details

pam, Home Seller in 95148

Why don't some for sale properties list on mlslistings.com?

Asked by pam, 95148 Thu Sep 5, 2013

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Hi Pam:

There are a lot of different reasons that a seller may not want to list a home for sale on the MLS. Here's just a few:

1. Seller doesn't want to be bothered with open homes and traffic and/or doesn't want to spend any time or money preparing a home for sale
2. Seller is ill or infirmed and wants a "quiet sale" between buyer and seller (see no. 1 above for reasons)
3. Seller already has a buyer in mind for the home (perhaps a family member, friend or a tenant)
4. Home is in horrific condition--fire, flood, mold, water damage, meth lab, etc. and MUST be sold to a contractor.
5. Realtor has convinced Seller NOT to list home on the MLS (thus, resulting in something we call a "pocket listing"--the Realtor has the listing in "his pocket." There are quite a few Realtors who like this type of listing, but many of us think it does the seller a great disservice in not advertising the home to the widest and largest group of buyers)
6. Realtor found the seller for a specific buyer (I've done this many times--I call them "quiet listings" in which I am looking for a home in a specific neighborhood for a buyer, and find a seller who is willing to sell) and doesn't need or want to list the home on the MLS. Usually these are longer escrows and often allow the seller a lot more latitude to move or sell under their specific conditions.
7. Sellers is just 'testing the waters.' This may be one of the most popular reasons for not listing a home on the MLS, and that is when the seller is not really "serious" about selling, but wants to be "convinced" by high prices to sell the home. A good example is a seller who sets a high price but want the Realtor to "quietly" market the home amongst friends and colleagues to see if anyone wants to buy--about 50 percent of the time, the seller won't sell even if a qualified buyer is found because they're just "fishing" for pricing right now. Usually, these sellers will eventually sell on the MLS, but only after they're convinced someone would buy at a price high enough to make them move.

And there are, of course, other reasons for not selling a home on the MLS including family limitations and trust issues. Thankfully, most of the homes for sale ARE listed on the MLS. The rare few that do not appear on the MLS often have very good reasons for not being sold in this manner.

Good luck!
Grace Morioka
Allison James Estates & Homes
Buyer Rebates up to 50 percent of Commission/Low Cost Listings to Sellers
Tel (408) 426-1616
1 vote Thank Flag Link Tue Sep 10, 2013
Sometimes the seller chooses to sell a home off-MLS for privacy or health reasons. Sometimes it's because the seller does not want to also pay a buyer agent commission and has negotiated this with the listing agent.

However, in honesty, there are some real estate agents who like to deal with these "pocket listings" purely for lining their own pockets with commissions from both the seller and buyer side.

As a home seller, maximum market exposure generally works in your favor, generating more showings and hopefully more competitive offers, especially in today's current seller's market.

If you are looking for a free and confidential market analysis of your home's value in today's market, Just Call 408-252-8900 or go to http://www.SiliconValleyValue.com.
1 vote Thank Flag Link Thu Sep 5, 2013
It could be for many reasons. Perhaps one of the occupants is ill. If it is tenant occupied and difficult to show they may just want an investor purchase. It could be the seller has some notoriety and they don't want just anyone tromping through the house. It could be the seller isn't informed of the market. Perhaps the seller has a friend or family member who wants to purchase and the sale is negotiated off market.

Many reasons.
1 vote Thank Flag Link Thu Sep 5, 2013
Why don't some for sale properties list on mlslistings.com? Exactly my question!!! I don't see much benefit for the sellers in limiting home's exposure to the market. If your agent recommends you to keep your home off MLS you should find his/her reasons for the recommendation.
Web Reference: http://talisrealestate.com
1 vote Thank Flag Link Thu Sep 5, 2013
Sellers and their agents may determine if they want to post on the MLS or not. It is not mandatory and up to seller preference. 95% of all homes however ARE listed on the MLS.
1 vote Thank Flag Link Thu Sep 5, 2013
mlslistings.com is the listing service for local real estate agents. There are restrictions on what information can be displayed, what can be withheld, and when information has to be made available. If a seller does not want to or can not meet the restrictions the property may be withheld from the listing service for awhile then later listed or never listed.

If the property would only have a limited number of qualified and serious buyers, the seller may not benefit by making the home advertised to the public at large.

Some people don't want their home or decisions visible to the public.

There are a number of property transfers that would show up in tax records as a sale but were never intended to be a public sale.

For most homes listing on the multiple listing service will give the quickest sale at market price.

Home values in San Jose are at http://julianalee.com/san-jose/san-jose-statistics.htm

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
.
Web Reference: http://julianalee.com
0 votes Thank Flag Link Tue Sep 24, 2013
Not all brokers participate in the MLS listing service. Some out of privacy reasons for the seller and some just don't like how the MLS resells the data. Also, most wholesale or foreclosed properties aren't on the MLS.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Thu Sep 5, 2013
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