Pocket Listings Gaining Popularity

Sometimes, for whatever reason, home sellers just don’t want to publicize the fast that they are selling their house. In this case, the house is a “pocket listing,” and it is not listed on the MLS. Instead, it is marketed directly by a real estate agent or broker. This gives the seller more control over who knows the house is for sale, who can see it and even who can buy it. Once thought of as a strategy used only by the rich and famous, pocket listings are showing up in more modest priced houses. The trade off for the higher level of privacy is fewer eyes on the property and reduced competition. The reasons are many and varied why someone would want to do a pocket listing – divorce, high profile, being in politics or entertainment, family illness, or just plain private. But sellers could also use this as a way to test the market and see if there is any interest in their house.   Read the full article here.
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