More and more sellers today are offering their properties off market only in a “pocket” or “whisper listing” strategy. While it’s not always the right approach, I think it often can be as in these 5 scenarios:
1. Unique or specialty properties— I like to use a soft launch approach to create mystique, aura, and energy around the listing. There has to be something compelling around the property that will attract attention and make it worthy of having used this strategy.
2. Dipping the Toe—Seller is not quite there in terms of listing the property, either unsure of pricing recommendation, not emotionally ready. The whisper approach gives the seller time and breathing space and provides a rhythm into the market that is better suited for some. Client who has lived in a truly spectacular home in Greenwich for a number of years; we have been working towards the market but using this strategy so that she can wrap her head around the fact that she really is moving
3. Off Season—Sometimes the seller comes forward ready to go to the market but it’s not the ideal selling season. So as not to rack up days on market, whisper listing is a good strategy to expose the listing yet ensure it will still be fresh at the right selling time. In Greenwich, July 4- labor day is quiet, this is an effective strategy.
4. Lots of “Ready to Market Work to be Done”— A new construction house was running into the final phase of work being completed in time for the spring season. We introduced the property in a whisper setting so that we had time to finish it yet expose it.
5. Privacy—For sellers where their privacy is tantamount, whisper listings can be important.