Pocket Listings: what main things you should know about

Posted by 7Day Listings on May 15th, 2019

A pocket listing is an unofficial, off-market listing

Mainly known as a “quiet” or off-market listing, a pocket listing is a property that an agent keeps tucked away in his or her pocket? Other traditional forms of marketing may be downplayed, too.

Pocket listings basically started many years ago as a way for high-profile people or expensive homes to be quietly marketed. They were also seen as exclusive because they were listed under the radar of mainstream agents, buyers and even the press.

Pocket listings are growing in popularity

So, as the real estate market has become more challenging, pocket listings have become more mainstream.

Mainly in many markets, there are few good properties and low inventories, coupled with buyers who are motivated to see more homes.

Pocket listings let sellers test the market

Mainly with a Pocket listing, a seller and their agent can quietly test the market without adding it to the MLS. The agent can always get the word out about the home using various marketing methods except the MLS — maybe even holding a small open house, or doing a main private broker’s tour, and stimulating word of mouth with other agents.

Pocket listings have become a secondary home market

Mainly in some markets, there are entire websites devoted to pocket listings or networking opportunities with other agents about upcoming listings and properties. What mainly started as a way to get the word out about future listings has turned into a secondary market of homes for sale for well-connected real estate agents.

So, sellers always get agree to a pocket listing term and dictate how the information about their home is disseminated, many boards of Realtors have procedures and rules for how main listings are to be input into the local MLS.

What pocket listings mean for sellers and buyers

So, if you’re a seller, you should consider testing the waters with a pocket listing, even if it’s just for a week or two. You’ve got nothing to lose. For buyers, it’s important to work with a Off market real estate California who has established relationships with other agents in the community. That way, you can be certain that you’ll be made aware of all potential homes for sale.