Pocket listings -- off-market listings that are marketed directly by the seller’s real estate agent or broker -- are growing in number, according to news reports.
Sellers must agree to "pocket listings"; otherwise they aren’t permitted. Some sellers agree to such arrangements to “test the waters” first with selling or to avoid a large number of people from entering their home, or they may seek privacy, like in cases of celebrities or public figures.
Some real estate professionals argue the rise in pocket listings is hurting the housing market because these homes are given limited exposure and are making it more difficult to compare homes and prices.
Usually with pocket listings, brokerages complete the entire transaction in-house, thus collecting both the seller and buyer commission.
“Pocket listings are a good segment of our business,” writes one real estate professional on the RISMedia Facebook page. “Regarding cons with agents taking in full commissions ... we charge a flat rate for our pocket sales, much less than a full-percent commission.”
But many agents note that the majority of pocket listings are eventually entered into the MLS.
Source: “Pocket Listings: Helpful or Harmful?” RISMedia (March 14, 2013)
“Using a real estate agent is a very good idea,” says the U.S. Department of Housing and Urban Development (HUD). "All the details involved in home buying [
and selling], particularly the financial ones, can be mind-boggling. A good professional can guide you through the entire process and make the experience much easier."
Selecting the right professional is the key to a successful real estate transaction. Better than working with a simple real estate agent, you’ll want the services of a Realtor®.
What’s the Difference Between a Real Estate Agent and a Realtor?
More than two million people have earned real estate licenses but only a small percentage of these are Realtors. Realtors are members in good standing of the National Association of Realtors, their state association of Realtors and a local real estate board. Realtors are held to high standards of ethical behavior and must undergo continuing education annually to remain accredited.
All agents of Nesbitt Realty are Realtors!
What Does a Realtor Do?
Realtors in {Location_Name} are required by law to:
- perform necessary and customary acts to assist in the purchase or sale of real estate.
- perform these acts in good faith and with reasonable care.
- properly account for money or other property placed in his or her care.
- disclose “adverse material facts” which are, or should be, within the agent’s knowledge.
Realtors can help buyers pre-qualify for mortgages and keep abreast of the latest home listings. They can assist sellers in preparing their homes and screening potential buyers. They can show investors the properties that fit their risk profiles and long-term investment strategies.
Nesbitt Realty in {Location_Name} can quickly locate the perfect home for you, or sell your home in the shortest possible time frame. Our agents can efficiently organize and coordinate meetings with potential buyers and sellers.
A Nesbitt Realty Realtor will be well acquainted with the important things you'll want to know about the neighborhood you may be considering:
- the quality of schools,
- the safety of the community,
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- price,
- Metro accessibility
- nearby parks and attractions
Our agents have immediate access to homes as soon as they are put on the market, saving you hours of wasted drive-around time. When you’re ready to make an offer on a house, our Realtor will help structure the deal to save you money. He or she will explain the advantages and disadvantages of different types of mortgages and guide you through the mounds of paperwork.
When it comes to selling your home, a Realtor will save you time and aggravation. Their commission will vary depending on your location. Realtors pay for all advertising, schedule all open houses and make sure potential buyers are qualified. The money they can save you is often more than the cost of their commissions.
