Reply to Why am I seeing so many houses for sale, but not listed on Zillow?

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Reply to "Why am I seeing so many houses for sale, but not listed on Zillow?"

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[quote=Anonymous][quote=Anonymous]It's a way to deliberately limit the buyer pool, which reduces competition among buyers.  It provides an advantage to the listing brokerage, usually Compass, because they get both buyer and seller commissions; agents from other brokerages never learn about the listing, can't show it to their clients, and can't earn a commission.

The bogus argument usually advanced for this practice is that it allows people to "test the market", but all that's being "tested" is whether potential in-house buyers might be interested; the buying public at large has no chance to make offers, whether below, at, or above the listing price, so the "testing" period really doesn't reveal anything.  And, if the selling agent is skilled, the house will be priced correctly to start with - there is no need to see if people consider the asking price to be too high, because it won't be.  If the price is low for the market, the seller should receive multiple offers at or above the asking price, assuming the buying pool is as large as possible, which only happens when a property is in the MLS.  [/quote]

Agents from other brokerages can show and write on pocket listings. [/quote]

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