Many investors are turned off by a property that has spent an extended period of time on the MLS, believing someone should have already acquired it if it’s worth the investment.

I basically got started in the worst possible experience,” Maduro says. “I really had to carve out a niche for myself, and that’s how I started being able to source these distressed properties.”

Today, Maduro deals less with foreclosed properties but more with an exclusive group of clients where the MLS is not needed for sufficient exposure. In fact, wealthy sellers might wish to sidestep paparazzi and prefer to sell immediately within that circle.

If he’s unable to secure a full listing agreement from an owner, Maduro will follow his firm’s policy and get an agreement down in writing that lists whatever marketing the owner approves – be it through social media or syndication sites. Maduro says opportunities to pursue pocket listings often come up, and when they do, he swears by transparency.

You want to always give full disclosure that it is a pocket listing,” Maduro says. “You want to make sure that the owner has approved any possible marketing, that you approved any property parameters that you’re giving so that you’re not marketing something that isn’t actually the case.”

Maduro admits that working with off-market properties could results in discrepancies. When a buyer reaches out to him about a property he listed on the MLS, Maduro knows a fellow agent or broker represents the buyer. Therefore, they were likely prequalified and can be taken seriously. Meanwhile, of the buyers who inquire about a property not listed on the MLS, Maduro said about half are serious buyers and half are just “shopping.” Sellers may not be “true sellers”, too, and deals often dissolve.

Thus, without knowing how to navigate public records and without his exclusive clientele, Maduro might not be thriving in the industry. Except for not securing a listing agreement, Maduro said there’s no reason a typical agent should avoid the MLS.