The latest trend for luxury homes? Keeping the price tag a secret

Agents are now making prices of luxury units “available upon request”

TRD NEW YORK /
Mar.March 30, 2018 09:00 AM

The 10,000 square foot triplex atop the Hampshire House at 150 Central Park South (Credit: Viewpoint Studios)

Asking prices are the latest secrets in the luxury real estate market, with agents choosing to make them “available upon request’ rather than advertising them.

There are multiple reasons for employing this strategy, ranging from trying to let the market set the price to maintaining a sense of privacy or exclusivity around the property, according to the Wall Street Journal. It can also be a sign of the agent and seller disagreeing over the listing price.

Developer Arnon Katz is currently using this strategy to market his 10,000-square-foot triplex on top of Hampshire House at Central Park South. Rather than assuming what buyers would be willing to pay for it, his team decided to reach out to agents and buyers who might be interested and see what they think it is worth.

Some marketers are not big fans of the strategy, however, since websites like Trulia and Zillow will not accept unpriced listings, thus limiting the amount of people who can see that the property is on the market.

“I tell clients it’s like being half pregnant,” Bradley Nelson, senior vice president of marketing at Sotheby’s International Realty, told the Journal. “Do you want to sell your house or do you not want to sell your house? You have to decide.” [WSJ]Eddie Small


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Vornado Realty Trust’s Steven Roth and 220 Central Park South (Credit: Roth by Bruce Glikas/FilmMagic; Jim.henderson via Wikipedia Commons)

Vornado inks another $52M closing at 220 Central Park South

Chrissy Teigen and John Legend with 374 Broome Street (Credit: Karwai Tang/Getty Images; Google Maps)

John Legend, Chrissy Teigen snap up another Nolita penthouse

Marc Jacobs with 68 Bethune Street (Credit: Jacobs by Randy Brooke/WireImage; Townhouse by Nest Seekers via StreetEasy)

Marc Jacobs gets what he paid for West Village pad: $10.5M

The Gretsch at 60 Broadway in Williamsburg. (Credit: Douglas Elliman via StreetEasy)

Williamsburg pad hits market for almost $9M

Dennis and Karen Mehiel with 3 East 95th Street (Photo by Will Ragozzino/Patrick McMullan via Getty Images; Sotheby's)

Carhart Mansion duplex returns to market after four years

arrow_forward_ios
Loading...