Nick Millican Explains the New Ghost Listing Trend

As if the housing market wasn’t already tricky enough to navigate, now “ghost listings” are popping up that have almost no information about themselves, but exist to lure people to find out more as housing and investment expert Nick Millican states. These listings are usually luxury listings that don’t offer a real address, images, or even a basic floor plan but they are listed on popular real estate portals such as Rightmove and Zoopla. 

 

That means if you are searching for a luxury listing in London, you might have to be willing to play a little game of hide-and-seek. Even more frustrating, Nick Millican adds, these listings will often say they are off-market, but the real point is to essentially hide the availability of the property.

 

This, so that if they don’t sell or the prices get reduced no one has to know. This allows the property to retain its elusive luxury status but also allows sellers to make some concessions if they need it to movies. This, according to Real Estate Agency´s CEO Nick Millican. 

 

Of course, the big question is, why list them at all? Real estate expert Nick Millican explains that it’s to satisfy the natural curiosity that most buyers have to look online (Crunchbase). 

Nick Millican has some final thoughts. He says that listing a property, even if it’s off-market on these websites, opens up the potential buying audience. However, in the end, the smart move is still to work with a real estate agent who understands the importance of non-disclosure agreements and quiet real estate transactions.