FAQ - Hidden Inventory
What is Hidden Inventory?
Hidden Inventory includes upcoming listings that are that are listed for sale on our website and with our Premier Brokers but not currently listed on the local Multiple Listing Service (MLS).
Is Hidden Inventory the same as "Pocket Listings"?
The National Association of Realtors® has not yet defined what a "pocket listings" is or have any official policies regarding its use. Pocket listings are similar to Hidden Inventory listings in that while the broker still holds a signed listing agreement with the seller, the listings are held in private - hence the term "pocket listing". Pocket listings, often used for more exclusive properties, can be very appealing to sellers wishing a certain amount of privacy, secrecy, or discrimination in how their property is shown to the public.
Who does a Hidden Inventory Listing appeal to?
The first group that finds Hidden Inventory attractive are those who want to list but their homes simply aren't fully ready to be listed. It is no secret in the industry that by far the most interest in a home is going to be the first five days after listing on the MLS. Not having the home ready for sale on day 1 including professional photography and staging simply puts the listing at a disadvantage in the marketplace. However, there is a market for "hidden inventory" that allows sellers an opportunity to finish getting the home prepped for sale before listing in MLS but still expose the home to potential buyers. Insofar as the supply of these "hidden" homes is small, we have found the demand for Pre-MLS listings can actually be quite high as a result.
The second major group of sellers that Hidden Inventory listing appeals to are the home builders. One of the biggest problems facing speculative home builders in the market is when to actually list the home. Just like with individual home sellers above, the number of days on the market in MLS can greatly affect the interest in the home. There is no "reset" of the number of days on the market when a home is completed. So for those builders wanting to get the home listed during or even before construction, Hidden Inventory listing can be a great option. And if the home does not sell before completion, it becomes a brand new listing again when officially listed on the MLS.
Where can I find Hidden Inventory listings?
Hidden Inventory listings are not a category search in our local MLS, therefore can be very difficult to find on the internet. At Bend Premier Real Estate, however, we are happy to share our Hidden Inventory with potential home buyers and other real estate brokerages right from our website.
To find our current list of Hidden Inventory, CLICK HERE.
For more information on listings, please fill in the form below and put "Hidden Inventory" in the subject line and a Premier Broker will get back with you shortly.
© 2020 Oregon Datashare (KCAR | MLSCO | SOMLS). All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Oregon Datashare. Real estate listings held by IDX Brokerage firms other than Bend Premier Real Estate are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. The consumer will not copy, retransmit nor redistribute any of the content from this website. Information provided is deemed reliable, but not guaranteed. Listing courtesy of Bend Premier Real Estate. Data last updated: October 20th, 2020 at 6:30pm PDT.