When looking for your next property, do you purely scour the internet or do you also pick up the phone to speak to an agent? If it’s only the former, you may be missing out on some of the best off-market properties available.
I'm going to let you in on a secret..... Not all properties for sale are listed.
'Whisper Listings' are homes that are sold off-market.
Some people are almost afraid to list their home because they don't want it to sell when they still can't find the house that's right for them and their next move. Other people wish to remain anonymous when selling their property, which is why Whisper Listings can really work; a collection of off-market properties that can only be found if you have communication with an agent who knows the local area well. Furthermore, a vendor may not want their details on the usual websites and requests that the agent discloses the property only to their own network of suitable buyers.
A ‘whisper list’ can mean you find the right buyer, quietly and discreetly – no open market needed.
Both buyers and sellers can benefit from whisper listings under some circumstances. On the buyer side, a whisper listing can be a great way to avoid ending up in a stressful or futile bidding war. On the seller side, a whisper listing can save one the time and hassle of preparing one's home to go on the market, staging it, and opening it up to the public for multiple open houses.
On the flip side, while it’s true whisper listings certainly can and often do serve consumers, it is important to recognise that may also limit consumer choice. Since the late 1990s, buyers have had unprecedented access to listing data, empowering them to do considerable research without the aid of an agent. Whisper listings reduce the average consumer’s access to listing data and ultimately make them more dependent on agents again. Likewise, on the seller side, whisper listings limit the number of potential buyers who ever hear about a particular property, which may result in a lower closing price. Ultimately, perhaps a mix of online and a quiet word may be an optimum approach.
Are you looking for a new home, but not speaking with an agent? You could be missing out on the perfect listing without even realising it.
Get in touch if you've not yet found your perfect property on Rightmove. We have the latest technology to track Whisper Listings and can help you in your search.