While the actual percentage is difficult to determine, real estate analysts predict that approximately 15 to 20% of homes for sale in the U.S. aren’t listed in the Multiple Listing Service (MLS) – the database used by Realtors. It’s natural to think every homeowner with a property for sale would want to take advantage of the benefits that come from listing a property in the MLS. However, there are at least four reasons Fort Lauderdale luxury homes for sale aren’t listed in the MLS.
Four Reasons Fort Lauderdale Real Estate May Not Be In The MLS
1. Pocket Listing – There are times when homeowners, especially in the luxury market, wish to sell their homes privately. In these cases the homeowner will sign a listing agreement with a trusted real estate broker, with the understanding that the home will not be put in the MLS and there will be limited or no advertising. Finding these off-market home listings requires quite a bit of time and persistence, including regularly searching the websites of independent and luxury brokers, contacting scores of agents, or (a good deal simpler) making sure you work with an agent with a large Fort Lauderdale real estate network.
2. For Sale By Owner (FSBO) – This group of homeowners who choose to sell their homes on their own comprise about 10% of the market. These properties are generally easier to find; Just drive through your target neighborhood looking for yard signs without a brokerage logo. Sometimes you may find Fort Lauderdale FSBO home listings on the MLS. This occurs when the homeowner is offering a commission to buyer’s agents.
3. Closely Held Transaction – When transactions are arranged between family members, neighbors, or other acquaintances (about 3% of the total market), they frequently close without appearing in the Fort Lauderdale MLS.
4. Expired Listing – When properties aren’t sold within the listing agreement’s time period, they can disappear from the Fort Lauderdale MLS. These make up most of the hidden home listings that are still available. A savvy Realtor will often be aware of these situations, and if the property fits your criteria, can help you uncover them before others do.
To find a home that will complement your luxury lifestyle, you need the best Fort Lauderdale Realtor! Not only will we sort through all the Fort Lauderdale homes for sale, both in the MLS and not in the MLS, we will save you time by only presenting you with only those properties that meet your criteria.