HIDDEN: Pocket Listings – What are they?
by Jordan Mott | Aug 26, 2015
Do you know what a pocket listing is? Are you aware that these listings even exist? Realtor’s who are savvy in this area can get you the deals investors dream of. With low inventory in today’s market, you need to understand this hidden industry.
A pocket listing is a listing agreement that a broker/agent has with their seller just like any other listing agreement; however, this listing is not going to be imported to the Multiple Listing Service (MLS).
Pocket listings are very exclusive and there are multiple reasons they could be the best option for a seller. Some of the most common reasons that a seller decides to sell their property through this method are:
- Sellers are elderly and do not want to be inconvenienced by all of the open houses and viewings
- The house is not in good condition and appeals to investors
- The seller wants a private sale as is the case with high end properties
You might be thinking, “Well how are sellers going to get top dollar for their home if they do not get the home maximum exposure?” This is a very good question, and the answer is that you need to have a realtor who is very familiar with pocket listings to ensure the property receives as much exposure to other brokerages and agents as possible without listing it on the MLS. Some of the best ways to accomplish this:
- Distributing e-flyers to local brokerages / agents featuring the pocket listing
- Attending another brokerage’s meetings to talk about your pocket listing
- Posting on websites other than the MLS, such as Craigslist, Zillow, and other online marketing strategies
A seller can definitely still get top dollar for their home through a pocket listing!
How to find these deals?
Buyers may be thinking, “Well how do I find out about these listings, and what are the advantages to a buyer?” The only way you are going to be able to find out about pocket listings is through a proactive agent who actively seeks listings of this type.
Almost every week, I send out an email to surrounding brokerages that includes the specifics of my clients’ search criteria in an effort to find current or upcoming matches. It is also possible to make a preemptive offer on a home that is set to go on the market and acquire it before it goes on the market. But once again, you need an agent who is proactive about making a strong offer that will keep the sellers from putting the property on the market.
The advantages to buyers who have agents knowledgeable about pocket listings are immense. Buyers are able to avoid the competition and multiple-offer situations that come with properties listed on the MLS.
This also means that buyers are not typically getting into huge bidding wars for pocket listings, which are usually priced appropriately. In comparison, homes on the MLS are priced to draw attention and multiple offers.
Find an agent that knows all the markets
The truth is that many people do not know about Pocket Listings — even though there are many of them. Who knows? Your dream home could be a pocket listing and, if you don’t have an agent who is aware of it, you could miss out on a great opportunity.
Typically, I come across 7-10 pocket listings a month in the Silicon Valley / Bay Area. I have been able to sell two pocket listings to my clients and they were extremely happy that they were able to find a home with minimal competition and get the home at a great price! Feel free to contact me directly HERE or check out my profile and contact me if your interested in such deals at, Jordan Mott Profile
If you like reading this article and want to read more from me, subscribe to Real Estate Whisper Newsletter to get the latest information in real estate.
Get more stuff like this
in your inbox
Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Thank you for subscribing.
Something went wrong.