Here are the advantages and disadvantages of utilizing pocket listings.
Pocket listings, or private listings, refer to homes for sale that aren’t listed on the MLS. They get a bad rap because some brokerages only recommend them to keep transactions in-house and keep all the money on their side. It’s called double-dipping, and it usually won’t get you the best possible deal.
We can search for privately-listed homes, but a lot of other agents won’t do that. The key is to know the motivation behind the person advising you to look at pocket listings or list your home as one. There are plenty of good reasons to look at pocket listings as a seller.
For one, listing privately gives you time to prepare your home by staging it, fixing defects, and doing a “soft launch” of the property to get some feedback about the home and its price. It’s a good way to test the market as a seller.
Another benefit of listing privately is that there are fewer showings. This is more important than ever after the COVID pandemic and with more and more people working from home.
I like to use pocket listings to help my seller clients test the market and help my buyer clients find more properties amidst our inventory shortage.
If you have any questions about pocket listings, selling your home, or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.