By Todd Adair
The CREA’s new rules regarding exclusive listings have made these special properties harder to buy and sell. However, that doesn’t mean they aren’t still out there if you know where (and how) to find them.
The Canadian Real Estate Association’s (CREA) new policy, effective January 2024, mandates agents only advertise properties if listed on the Multiple Listing Service (MLS). As a result, this significant change has left many asking: where have all the exclusive listings gone?
A Private Selling Option: Off-Market Real Estate
Traditionally, exclusive listings – i.e., properties not listed on the MLS – offered a private selling option for homeowners with specific needs. These listings provided a discreet way for sellers to manage their transactions. This could be for privacy, strategic financial reasons, or to avoid the disruptions of frequent showings.
For example, homeowners facing a divorce might prefer to keep their affairs out of the public eye. Similarly, high-profile individuals, such as celebrities, valued these listings for their privacy. Furthermore, properties under construction also benefited from exclusive listings, allowing agents to control how these properties were presented to select buyers without public scrutiny.
Cayman Marshall Exclusive Off-Market Real Estate
Currently, Cayman Marshall has over $200 million in off-market real estate, along with our MLS listings (typically $100M-$200M). These properties, located on prestigious lakes like Lake Rosseau, Lake Joseph, and Lake Muskoka, as well as others in the Huntsville chain, were typically marketed through private channels. These included everything from vacant land to new development opportunities. However, with CREA’s new policy, Cayman Marshall can no longer publicly advertise these off-market real estate offerings. They are available only to those who reach out directly to our agents.
CREA’s New Rule: A Shift in the Market
Clearly, CREA’s new rule has significantly shifted the market. Only properties listed on the MLS can be publicly advertised. This leaves a gap for those who prefer the discretion of off-market real estate. Consequently, Cayman Marshall can no longer promote these listings through traditional advertising channels. Therefore, direct contact with our agents is essential for anyone interested in these exclusive opportunities.
This policy change narrows the visible market to MLS-listed properties. Thus, altering the dynamics for both buyers and sellers. Buyers looking for exclusive off-market real estate opportunities must engage more proactively with real estate professionals to discover these hidden gems. Likewise, sellers must navigate this new landscape to achieve their goals without the public visibility they previously relied on.
The MLS centralizes property information and enhances transparency. However, it also limits the flexibility once provided by exclusive listings. Then, for those buying or selling in today’s real estate market, the key is to maintain close relationships with agents who can reveal off-market real estate opportunities not listed publicly.
Our Exclusive Properties Will Surprise You
Admittedly, many might view this need for direct engagement with skepticism, thinking it’s a gimmick. However, I challenge you to contact me or my team and discover what we truly offer. I am sure our portfolio of exclusive properties not available through any public advertising, will surprise you. Working as a cohesive unit, our small team constantly communicates to stay updated on what’s exclusively available within our office.
So, if you’re a frustrated buyer, reach out to us – you’ll be amazed at the exceptional properties we have quietly available.
Contact us: advantage@caymanmarshall.com
