Pocket Listing
A pocket listing is a property that is for sale but not listed on the Multiple Listing Service (MLS) or publicly marketed through traditional channels. Instead, the listing agent keeps the property "in their pocket" and markets it privately to their network of contacts, other agents, or select buyers. These listings are sometimes called "off-market" or "exclusive" listings.
Example
“The celebrity's mansion was sold as a pocket listing to maintain privacy and avoid public attention during the sale process.”
Memory Tip
Pocket listings are kept 'in the agent's pocket' - hidden from public view like something tucked away in your pocket.
Why It Matters
Pocket listings can limit your property's exposure to potential buyers, potentially resulting in a lower sale price, but they offer privacy and may attract serious buyers with fewer showings.
Common Misconception
Sellers often believe pocket listings always sell faster and for more money, but limited market exposure typically reduces competition among buyers and may lower final sale prices.
In Practice
A celebrity homeowner might choose a pocket listing to maintain privacy during the sale process, while their agent quietly reaches out to qualified buyers or other agents with interested clients. Some luxury properties start as pocket listings before going on the public market if they don't sell quickly.
Etymology
The term originated in the 1980s real estate industry, referencing how agents would keep these exclusive listings 'in their pocket' rather than sharing them publicly.
Common Misspellings
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