A pocket listing is when a seller gives their real estate agent, a signed contract to sell their home, but without putting it on the active market or MLS.
Why might a seller do this? The most typical reason is because of privacy. The seller does not want people coming and going through their home at open houses, and they don’t want their friends and neighbors to know what they are selling their home.
There are drawbacks to selling a home this way. It can cost the seller thousands of dollars by not marketing their home to the public, but it’s generally not the money that motivates this particular seller.
How do buyers find these pocket listings if they aren’t on the MLS or marketed online?
This is a good way for buyers to purchase a home and make them aware of the pocket listings available.
When sellers list their properties with Cashin Company Realtors, they have the assurance that all pocket listing will be exposed to other Cashin agents through the company email alert system. This will notify all the agents that a pocket listing is available.
This helps twofold. First, it helps the seller market their home without putting it on the MLS, or having open houses. Second, it allows the buyer’s agent the opportunity to share with their buyer that there is a possible match for them that isn’t exposed to others in the area.
At Team Tapper, we always keep our eyes open for pocket listings because we have a lot of clients that have specific needs or wants. When our buyers can’t find what they are looking for on the open market, we go the extra mile to help find them the perfect match to the properties they are looking for.