Real Estate markets are so hot in many areas of the country, that some number of homes are not even making it on to the multiple list to sell the home. Instead, the real estate agents are working to just match sellers with buyers at a price the seller is willing to take. This often insures the real estate agent the full negotiated commission if a second agent is not involved in the sale. This process is not in the best interests of the seller since many homes today are selling above list price in a week or two once exposed to the market.
Sellers do it because they don't want to be bothered with potential buyers walking through their homes. But since homes are selling so quickly sometimes as result of multiple offers that bid up the price, doing a pocket or whisper listing is short sighted. Instead, take the buyer with the most money down, mortgage pre-qualification completed an no contingencies. Sell the home in "as is" condition no matter what home inspections may show up. Get a healthy deposit so that if the buyer walks for any reason, the seller can keep the deposit.
We are facing the craziest real estate market we have seen in years. Eventually, things will cool down and go back to normal. Prognosticators are predicting 14 more months of crazy. Nobody knows for sure; but if we see higher taxes or higher interest rates, things will cool down. Real estate like all investments runs in cycles. Buyers that can wait for a bit of down cycle should wait. On the other hand, though the price may be lower, the mortgage interest rate is likely to be higher so the payments could end up being about the same. The only real benefit of a down market could be more inventory so more houses to choose from at a better price.
