When it Makes Sense to “Quietly” Market a Home
“Don’t be a secret agent.”
–Advice to newbie Realtors.
“If you’re going to put your home on the market . . . let the world know.”
–Corollary, Ross Kaplan
Looking for the four most expensive “For Sale” homes in St. Louis Park’s Fern Hill neighborhood right now?
You won’t know it by driving by: there’s either no “For Sale” sign in front, or, in the case of 2545 Huntington Ave. South (pictured above), a tiny, easy-to-miss one on the more private, back (west) side.
What’s going on?
Why would a homeowner serious about casting the widest possible net for prospective Buyers nix a (more conspicuous) “For Sale” sign?
Exceptions to the Rule
Actually, I can think of three, overlapping reasons:
One. Price point.
With asking prices ranging from $1.6M to $4.5M, the target market for these homes is tiny (remember, this is the Twin Cities, not Manhattan 
or San Francisco).
Ergo, the odds of someone randomly driving by the home and being able to buy it are commensurately small.
Instead, the real Buyer — or more likely, their agent — can readily find it on MLS.
That is, assuming they’re not already aware of the home, pre-list, through their own or their Broker’s network.
Two. Market time.
Market time varies directly as a function of price.
While a $250k Twin Cities home that’s well-prepped, priced, and marketed should sell quickly now (4-6 weeks on the market, max), the market time for a $4.6M home could very well be years.
While the pro’s know that, sometimes the neighbors don’t, which can give rise to the perception that there’s “something wrong with the house” or that it’s otherwise a lemon.
Nope, just expensive (usually).
“Needle in a Haystack” Buyer
Which leads to consideration #3: if the current owner has only been in the home a relatively short while (say, less than two years), the home may already have been on the market recently, for a (very) long stretch. See, Reason #2.
Conspicuously placing one or more prominent “For Sale” signs on the property is likely to reinforce the perception that “that home is always for sale,” or otherwise undesirable.
Finally, in addition to all of the above, there can be security considerations.
While multi-million dollar homes with valuable personal property inside** usually are protected by elaborate security systems, some Sellers understandably don’t want to draw needless attention to their home.
Bottom line?
It’s not just exposure that counts when selling a home, it’s exposure to appropriate, qualified Buyers.
When a “For Sale” sign is likely to generate low-yield leads at best, it can be smart to skip it . . .
P.S.: For all the same reasons, don’t hold your breath waiting for a Sunday open house at any of these homes.
**It’s always smart for Sellers at any price point to remove valuables from the premises before going on the market.
