Reply to How often are homes being sold before going on Redfin?

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Reply to "How often are homes being sold before going on Redfin?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A brokerage advertises it privately to only their clients. This is how many properties sell
In my hot non-DMV area. [/quote]

I hear this a lot. Why would sellers agree to this? It seems like they’d potentially be leaving a lot of money on the table by limiting the buying pool so drastically.[/quote]

Privacy and the sellers don't care about every extra dollar of the sale price. Plus, sometimes buyers overpay with private listings because they think they're getting a special deal, so it's not necessarily true that sellers leave money on the table.[/quote]

I guess if people don’t care about getting the best price for their house, it makes sense to limit their buying pool. I’m not buying that buyers are willing to pay more for private listings though. Why would they offer more than they would if it was on the full market when they have to compete with other buyers? Makes no sense. [/quote]

Buyers are not always rational. When it's "exclusive," it seems more special. But then if they decide to pass on it, they're not going to make an offer when it is no longer exclusive. There's tons of stuff in life that only seems desirable if you have special, exclusive access to it.[/quote]

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