Pocket Listings in Real Estate Market
Posted by Evelina & Karen The Blowmster Team on
Pocket listings are houses that are available to be purchased through an agent who has not yet listed those houses in the MLS. These homes reside in the pocket of the seller who can share the news that the house is available to be purchased with selected qualified purchasers.
Some sellers don’t like the interruptions coming after having their home listed in the market. The seller and the realtor make a verbal assertion that if the agent finds out a purchaser for the home, the seller will then list his home with the agent. This methodology works only for sellers who are not in a hurry and can take the risk selling in such a small market.
Pocket listings can be an advantage for a few sellers who desire to work with their agents to sell their houses, but require additional time before actually putting their houses in the market. They might be waiting for repair work to be completed or some other work to be finished.
Purchasers who have seen the house for sale but not listed should not bother about there listing in the real estate market and should not mind that they are not market ready. Instead, they should be happy because they are getting a chance to make an offer on a house no one else even knows about.
Agents normally have between 24 and 48 hours to put another posting into the MLS depending upon the local MLS rules. This is from the time they sign the agreement with the seller to the time the posting is entered into the MLS database. For that short period, the agents have the listing in their "pocket" and can contact potential buyers about the home.