Pocket listings are referred to as off the market, quiet or silent listings. These listings are kept from the multiple-listing service and instead marketed by the home owner’s agent. The home owner and agent have all the control over who knows about the property being for sale. Pocket listings are usually sold via word of mouth among real estate agents either during the prelisting period. This is before the MLS paperwork is finished by the broker. This can also be by the home owner’s choice, who prefers to keep the listing private. This is why when Beyonce Knowles or Bruno Mars sells their home, you never hears of an open house or sees a for sale sign in front of their Hollywood home.
Austin is a seller’s market right now, and inventory demand outweighs supply. Pocket listing could be your savior if you just can’t seem to find a home with all your wants and likes.
The Seller’s Advantage
Test the Market Value – As soon as a home is listed in the MLS the days in the market clock begins and starts to affect the value of their home. The seller would risk the home sitting on the market and becoming stale resulting in less money. By pocket listing a home the seller has more control of where they want the value of the home to be.
Repair at Seller’s Pace – If the pocket listing needs some repairs, the additional time can be used for fixtures, staging property and resolve any other concerns they have about selling their home. No fuss, signs or hassles.
Pocket listings have become a secondary inventory market, and by having a well-connected proactive agent, a buyer will always know what is in your agent’s pockets. Pocket listings are a growing source of homes for sale, there are even entire websites dedicated to it.
Contact our agents today to help you find your next home. We may even have some pocket listings that will fit your needs.