How do the ultra-rich sell their homes?

The ultra-rich are known for their exclusivity, and the way they manage the purchases and sales of their multi-million dollar homes is often no exception.

This does not mean that the market has not yet seen very large and high-level registrations. There is the most expensive house for sale in the Hamptons, which is listed at $ 150 million, and, of course, the Chartwell Estate of Los Angeles, which was listed at $ 245 million and, prior to obtain a significant price reduction, was the most expensive list of the United States.

But for those looking to keep sales of their homes a little more under the radar, there are lists of whispers.

Whisper lists, also called pocket lists, are homes for sale that are not accessible to the public. Off-market ads are very popular among the very wealthy and are bought and sold orally.

Los Angeles real estate agent Aaron Kirman recently told Business Insider that he was a seasoned list-whispering agent – and revealed three main reasons why sellers keep their homes out of the way of the market.

Kirman is one of the best real estate agents of the Compbad real estate company. He has been in the industry for 24 years and has sold over $ 4.5 billion worth of real estate since the beginning of his career. In 2019, REAL Trends named it the country's 10th best real estate agent in sales volume.

Here is an overview of what compels wealthy buyers to keep their homes away from the market and opt for whispering lists.

1. Sellers can register their homes at higher prices through whispering lists.

By not putting a house on the market, the seller avoids expectations in terms of value, Kirman told Business Insider. With whispering lists, sellers have the advantage of setting the price of their house above the median selling price of an area.

According to Kirman, sellers see it as an advantage because they are able to set the price of their home as high as they wish, regardless of the state of the market.

"If you go to the market, you have to publish a price." By not going there, you've never been public on a price, so you do not necessarily have to go down, "Kirman said. at Business Insider. "Vendors have raised the price of a whispers campaign because they have nothing to lose."

2. Whisper lists can be used to keep the personal affairs of a seller in the public eye.

Whispering lists can be used for specific purposes, including confidentiality.

For example, if a seller does not want to put a house on the public market for political reasons, such as a divorce, he will use a list in a low voice.

"Sometimes there are political reasons why people do not like them in the market, whether it's for a divorce, for business reasons, or they just want to keep it secret," Kirman told Business. insider.

3. Whispering lists are exclusive and often considered a symbol of wealth.

Some sellers prefer to use whistle lists because they are more exclusive than public lists and are therefore often considered a symbol of wealth. However, Kirman told Business Insider that he did not think that the use of a murmur campaign, for the sake of exclusivity, would be effective in today's market.

And inside of that, there is the potential disadvantage of missing a potential sale simply because the agent is not connected to the right person.

"The problem is that I do not know everyone, so I always tell people that there may be a multimillionaire or a billionaire who, because you are not over there [on the public market]you missed – and they will buy another house that was public, "Kirman told Business Insider.