Overheard a realtor talking about a listing that never hit MLS

I was grabbing coffee at Transcend on Whyte and heard two agents talking. One said a house in Garneau got sold for $50k under market value before it ever showed up online. Apparently the buyer worked directly with the listing agent and nobody else knew. Makes me wonder how many deals happen behind closed doors like that. Anyone else ever feel like the public listings only show part of the picture?

2 comments

2 Comments

black.amy3d ago

I read somewhere this is called pocket listing and it's totally legal.

miam113d ago

Oh totally @black.amy, people do it all the time with high-end listings!