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Tuesday, October 16, 2012

Celebrities and the wealthy find ways to keep home sales secret - latimes.com

Celebrities and the wealthy find ways to keep home sales secret - latimes.com

Madonna is selling her Beverly Hills estate, but she doesn't want you to know about it.
The sinewy singer is asking $28 million for the 16,500-square-foot, French-Normandy-style mansion. You won't find it, however, on the Multiple Listing Service, Realtor.com or other online marketplaces. Her real estate agent is quietly shopping it among a select network of Los Angeles-area brokers with deep-pocket clients.
This velvet-rope tactic, known as a "pocket listing," is being used more and more by celebrities and the wealthy in this TMZ age, say real estate agents specializing in high-end properties. Listing publicly just invites paparazzi mischief. With word-of-mouth marketing, there's no for-sale sign on the front lawn or snoops traipsing through open houses.

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