Pocket Listings: Keeping Money Out of Your Pocket
by Jordan Mott | Oct 13, 2015
Recently, I wrote an article about pocket listings discussing what these listings are and what the positives/negatives of pocket listings are. If you have a great agent who is always on the lookout you will sometimes come across these off market listings but most of the time these transactions happen between agents that work for the same brokerage firm. Is it very possible that if you decided to sell your home off-market that you are not going to get top-dollar for your home?
Your Home Is NOT Receiving Maximum Exposure
By deciding that to sell your home off market your home will not be reaching the maximum amount of buyers as possible compared to your home being listed on the MLS. When a home is listed on the MLS it automatically populates to multiple real estate websites on the internet. This means that when you decide to list your home off market you are not reaching the public to its full potential.
The buyers for your home are likely to come from listing the home on the MLS. All real estate agents have access to the MLS and see when a new property is listed. If your home is not listed on the MLS they may not be aware that the property is for sale which means that their buyers will not know about the property. By not listing your property on the MLS you are missing out on potential buyers which then mean you are missing out on potential offers and potentially more money for your property.
You may not be getting true market value
By listing your home privately, you are at the mercy of the agent to find the right buyer. This limited exposure prevents you from feeling out the market. Without a good sample size of people looking at your home, it’s hard to draw any conclusion whether you’ve listed your home properly. To truly test the market, the home needs to be publically available for the market to decide what the price should be. Not just from an independent appraiser who does have some subjective influences in a home.
Privately listing your home for the wrong reasons
If you think privately listing your home will get you the most exposure. Then you are wrong. It can’t replace what the MLS offers which is exposure to general public along with being passed through all web search site syndicates, such as HomeTrueScore.com, Zillow.com, Trulia.com.
Moral of the story
If you want to get top-dollar for your home you need to get the property maximum exposure which means it should be listed on the MLS. However there are other reasonable cases when it makes sense to list a home privately as I discussed in this article here >> HERE << . At the end it really depends on your situation and your end goal. Need help making a decision? Contact me directly here: Contact Me
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.