Silicon Valley home buyers use LLCs and off-market deals to limit public records

Ultrawealthy buyers in Silicon Valley are routing home purchases through limited liability companies and privacy trusts to limit public records of ownership. The practice, described as stealth-wealth buying, has increased over the past three years as property values rose and security concerns grew.

Ken DeLeon, founder of DeLeon Realty in Palo Alto, said the shift began when technology company valuations recovered and more wealthy individuals moved into the area. He noted that artificial intelligence developments have added to wealth creation and privacy preferences in the past year.

Off-market transactions Atherton recorded a median sale price of $8.33 million in 2025, up 5 percent from the prior year. The largest transaction involved a $51.5 million estate that sold without appearing on the multiple listing service. Similar off-market activity rose at least 30 percent year-over-year in Brooklyn, Manhattan, and Queens.

Brooklyn recorded roughly $5.4 billion in privately marketed residential sales during the same period.

Structure and costs Buyers often place title in an LLC whose manager is not directly linked to them. Utilities and deliveries are also directed through the entity to maintain separation from personal names. Sellers who choose off-market routes typically receive lower offers because fewer buyers see the property.

A Zillow Research review of 2.7 million sales found off-MLS homes sold for a median of nearly $5,000 less, a 1.5 percent gap that widened to 3.7 percent in California. The National Association of Realtors policy requires listings to be submitted within one business day of public marketing.

A delayed-marketing exemption option became available in March 2025 after written disclosure of the trade-offs.