The In's and Out's of Pocket Listings

When movie stars, sports figures or media moguls sell luxury properties, they’re often able to maintain an air of secrecy. That’s because some high-end properties never hit the open market or have any formal advertising support behind them.

But these pocket listings—also known as whisper listings or off-market listings—actually aren’t exclusive to celebrities and are a relatively common way that people conduct business.

“We have pocket listings at all different price points,” said Zach Goldsmith, the estates director at Los Angeles brokerage Hilton & Hyland.

He noted that he sold a $3.5 million pocket listing last month, made plans to show an off-market Beverly Hills listing earlier in the day, and signs non-disclosure agreements regarding real estate transactions all the time.

For the complete article from Mansion Global, please click here.