By Russ Meyer, Managing Broker
Have you noticed “Sold” signs in your neighborhood but can’t remember ever seeing the For Sale sign?
I’m a big believer in educating my clients and allowing them to make an informed choice. Our market has three options for sellers: a standard listing arrangement, an Office Exclusive Listing, or a No Show Listing.
In a standard listing arrangement, the listing goes on the market with a sign in the yard available to be shown to all ready, willing, and able buyers .
An Office Exclusive is where a seller contracts with a listing agent to sell their house, but the home is ONLY advertised to the few fellow agents in that particular brokerage, not the entire open market. Perhaps you don’t want the entire market trudging through your home. Understandable! Be careful. I don’t recommend trading personal convenience with the opportunity to receive very competitive offers from a much larger pool of buyers than one brokerage can reach. While this type of listing is good for some sellers, it should be on a case-by-case basis.
A No Show is a property meant to go on the open market but not available to be “shown” or walked thru yet. Agents use this type of listing for good reasons--drumming up some interest in a low inventory market or allowing a seller time to prepare and stage the home. In our incredibly low inventory market though, this type of listing can present the seller with some difficult choices.
A buyer can still write on offer on the house (called a site-unseen offer) without looking at the home in person. The seller can still accept that offer. It’s a risky situation that both buyers and sellers should approach with caution. In our extremely tight market, this could be why you don’t remember seeing the For Sale sign in the yard before the Sold sign.
Ultimately, you should do what is best for you and your selling needs. Your REALTOR® should advise you according to your needs. And, I’d be happy to be the REALTOR® that guides you in this complicated market (Russ Meyer, Managing Broker, 402-310-8262).