Off-Market Real Estate In Los Angeles
If you’ve been in the Los Angeles real estate market, you may be familiar with the term “pocket listing,” or “off-market listings.” As trusted Los Angeles real estate agents, we have access to exclusive, off-market homes for sale in Hancock Park, Windsor Square, Miracle Mile, and many other neighborhoods. Whether you’re thinking of selling a home or actively looking to buy one, an off-market listing, sometimes known as a “pocket listing,” is worth learning about.
In Los Angeles, where homes are often sold with multiple offers and for over asking price, the “off market” listing is a strategy we employ to help buyers get into the home or neighborhood of their dreams. When you look at an off-market a pocket listing, there’s usually little worry that it will spark a bidding war. In fact, you may be the only buyer to have seen the home.
What Are Off-Market Listings?
Off-Market, or “Coming Soon” listings are homes which are for sale, but not yet listed publicly
on the MLS (Multiple Listing Service) or other home search sites. In the real estate industry in California, a pocket listing or “hip pocket” listing is a property where a broker holds a signed listing agreement with the seller, which is never advertised in the MLS. The Multiple Listing Service (MLS) database is accessible by a large pool of buyers and agents. It lets the public know that the home is officially “for sale.” However, with a pocket listing, sellers won’t place their home on MLS or anywhere else online.
How to Find Pocket Listings
Knowing how to find pocket listings in your desired neighborhood comes down to access. For instance, our real estate agents have access to sellers in each neighborhood that may not wish to place their homes on the “open market” for a number of reasons. Our agents are well-known in the communities and as well as in their professional real estate networks, which allows them to learn of properties for sale before they hit the market. A celebrity wanting to maintain privacy may be one example of a seller who chooses to ask for a pocket listing when working with their Realtor. Another example may be an older homeowner, or one in poor health, who wishes to minimize the disruption to their daily routine that may come with the traditional open house.
As off-market listings become increasingly popular amongst buyers and sellers, more and more real estate companies have started offering pocket listing. If you are wondering how to find pocket listings in Hancock Park, Larchmont Village, Mid-Wilshire, Fairfax, or any other of other “hot” neighborhoods in Los Angeles, we can help!
Sell Your Los Angeles Home Privately and For More
When you list withIf you choose to sell your home as a “pocket” listing, you will not need to hold an open house. If you would like to avoid crowds walking through your home, a pocket listing may be for you. It may also be a good option for you if you wish to have more control over showing times, and if a high level of privacy is important to you and your family. With a pocket listing, our agents find pre-qualified buyers privately and schedule showings at your mutual convenience.
As with all sales transactions, we will start by estimating your home’s value, so we can help you sell it for top dollar. If you are not sure whether a pocket listing or MLS listing is right for you, please contact one of our agents to discuss your goals, your property, and your situation. We will gladly advise you as to the optimal strategy for getting top dollar for your home. Many clients refer to The Bienstock Group as the “best real estate agency in Los Angeles” precisely because we treat each client individually. There is no one-size-fits-all strategy in a market as diverse and complex as Los Angeles.
Looking to Find Off Market Real Estate Properties for Your Investment Portfolio?
If you are an investor looking to add to your real estate portfolio, an off-market or pocket listing can be a great find. While many investment properties for sale are listed publicly, off market properties are great investment deals to find. Finding local off-market Los Angeles properties that aren’t listed online will give you a competitive edge over other real estate investors. Just like a buyer looking for a home to live in, if you are looking to pick up a property in a particular neighborhood, of particular size, or type, you may find yourself in a bidding war.
Of course, as an investor, you may have access to off-market listings through your professional or personal network. While Los Angeles is a big city, we find that it’s a “small world” when it comes to real estate. You may know of someone wanting to — or needing to — to sell quickly for a variety of personal or financial reasons. Local contractors tend to be aware of real estate opportunities in an area, as they are constantly in touch with people in the business. You can also engage in direct marketing and send a letter or a postcard to home sellers saying that you’re interested in buying investment properties. You could even knock on doors! This way, you can talk to the property owners directly and ask any questions you may have about the property.
Whether you are new to real estate investing, or a real estate mogul, a knowledgeable real estate agent can help you find the best off-market property in Los Angeles, and secure the best deal.
Contact us today for expert assistance with off-market listings – whether you are a buyer, a seller, or an investor. We aim to be our clients’ expert guide through the labyrinth of L.A. real estate!