A pocket listing, private listing, off-MLS, or “office exclusive” listing as it is sometimes called, often is a listing in which an agent has a listing agreement and the seller does not authorize the placement of the listing on the MLS. Instead, the agent markets the property or business through an informal network or a special online platform At the end of the article, you can see more information on how you can create your own online platform for pocket listings.
Pocket listings are surging because of historically low inventories of homes for sale in major metropolitan areas, along with strong buyer demand and low mortgage rates. This combination has made control of upcoming new listings a powerful, highly profitable asset for agents in the most competitive sellers’ markets. Here are a few other reasons a Private Listing may be a good idea for your clients:
Your client wants to maintain privacy
Pocket listings can also serve as a great private option for selling your client homes. Marketing a home for sale and allowing strangers to view one’s residence can be a difficult barrier for some homeowners. Some people, especially celebrities, value their privacy very highly. It might also be security purposes but it might also be business purposes.
Your client is still preparing your home for the market
If the client’s home needs some updates and maintenance before it ready to hit the market, it can take several months before you can hold an open house the client. You can list the property privately while your clients complete the updates
Your client lives elsewhere for part of the year
It can be difficult for the client to keep his/her home show-ready when it’s shuttered for part of the year. Many realtors have properties listed privately are those owned by people who aren’t in town during the summer months, which makes it a good time to list the home privately while the owners are away.
Want to have your own online platform that supports Pocket Listing?
Having your own listing website that supports pocket listing does not need to cost you thousands of dollars and an extensive time commitment. At pListings.com, we offer a solution that takes the hassle and expense out of having your personal pocket listing website. You can mark any listing on your website as ‘Private’ and only people who are invited can view that particular pocket listing. Click here to subscribe for a free 30-days trial, no credit card required.