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Fox Business - BEHIND CLOSED DOORS: Inside the cutthroat battle for billionaires' unlisted $300M properties

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Author: Fox Business
Categories: Real Estate
Tags: real-estate
Views: 2 · Last viewed: 2026-10-16 13:32 UTC

Short Summary

Main recommendation: Work with a local, on-the-ground agent to access off-market luxury properties in Palm Beach, since most of these deals never reach the MLS and are only found through direct owner contacts. The speaker, Gary Poor, says he closed several off-market deals in 2025 (including properties priced at $97.5M, $75M, and $58M) and five unlisted deals in the two weeks he was in Colorado during September. Competition for these owners is intense, so the work is slow, persistent, and relationship-driven.

Key Points

  • Palm Beach is small, with about 2,500 homes and an equal number of condos, so specific searches quickly run out of options and off-market listings become necessary.
  • Off-market sellers are often not fully committed to selling, so deals can take months of persistent, polite follow-up before the owner agrees.
  • Brokers compete aggressively for the same owners once word spreads, so keeping clients engaged and finding them a buyer quickly matters.
  • The speaker expects inventory to stay flat or shrink, and says the "shadow inventory" of unlisted homes may dwindle if owners have no next place to move to.

Details Worth Noting

  • Concrete instructions: Keep a written log of owners who are willing to sell, noting their asking price and their level of interest. Stay in regular contact with them, be persistent and polite but not pushy, and keep your own buyers engaged so a deal does not slip away.
  • Examples of unlisted properties the speaker cited as currently available, in millions: about $175M, $52M, $97M, $17M, plus $75M, $195M, and $300M further up the coast. He says these are just a few from memory and that 99% of agents do not know they are available.
  • The speaker describes the sales environment as a "battle," with brokers chasing the same owners and the work likened to "a sniper in a manhole."
  • Caveat: these are the speaker's personal figures and observations, not verified market data.

Bottom Line

Access to Palm Beach's top-end off-market homes depends heavily on local presence and owner relationships, and the speaker argues that most buyers and agents simply do not know these opportunities exist.