The private listing network (PLN) is a behind-the-scenes MLS to which most homebuyers don’t have access. Let’s say that I have a home that’s not quite ready to go on the market. That’s an example of a home I would put on this private network. There isn’t a lot of information in there (oftentimes there aren’t prices) but it is a valuable source of inventory in a constrained market. It lets you know about the homes that are going to be coming on the market, and in some cases, the ability to buy or sell before they do.
With such low inventory in our market, things are selling straight out of the PLN these days. If you’re not working with an agent to sell your home via the PLN right now, you’re missing out as both a buyer and seller. Just in the last few months, I’ve sold multiple homes directly through the PLN.
For example, one home needed to be painted, recarpeted, and show-ready before I was going to list it on the MLS. It was a very busy family, and they just didn’t have time to do it. We put it in the PLN and told the agent who wanted to see it that it wasn’t quite ready. She assured me that they understood, and their expectations were set. The agent walked through the house with the buyers (who tagged along via FaceTime), and they bought the home then and there.
Typically when you sell without taking the time to get the home show-ready, you take a bit of a loss on the price. However, you don’t have to invest in those showing costs or the stress of listing it on the market.
If you’re thinking about selling a house at any point this year, I’d love to hear from you. Even if it’s not going to be until this fall, we can get the marketing done now, list it on the PLN, and drum up demand for it until it’s ready. The PLN gives you the opportunity as a seller to set your terms of the sale. If you’ve been thinking of selling, reach out to an agent like me who can get your home on the PLN right away.
If you have any other questions for me about real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.