What’s the reality of ‘Pocket Listings’?

Posted by Natalie Riggs on November 11, 2013  /  in News  /  No Comments

I’ve noticed this trend the past couple years that some homeowners think it is better to sell their home as a ‘pocket listing’ than on the Multiple Listing Service. For those of you that are not familiar with the term ‘pocket listing’; here is a quick explanation. A pocket listing means that your home is listed with a realtor, but that it is only shown to other realtors that your real estate agent chooses to show it to (i.e. his or her friends and clients). Hmmm, let’s think about this a minute…what is the advantage of your home only being shown to a handful of other agents that also happen to be good friends with your agent?? I can certainly see the advantage for the prospective buyers of these agents because they could procure a property at a significantly lower price than if the property was marketed to millions of people. Remember this — The level of exposure and marketing that your property receives directly correlates to the ultimate selling price. This is why I am adamantly opposed to pocket listings for my clients that wish to sell their home. My goal is to net my clients the maximum selling price, after all; this is my fiduciary responsibility as a listing agent. Pocket listings are a great deal for buyers and a lousy deal for sellers. Don’t fall for this one, sellers. You deserve to have your home professionally marketed by an ethical and trustworthy real estate agent…don’t settle for anything less.

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