Fishhawk Lake Real Estate-What is a Pocket Listing?

Hi Gayle!  I love your new picture.  And, congrats on the feature.  I can see how pocket listings might work really well in your market.  I've heard of them in the past haven't ever used them myself.  I work in a larger market and pretty much demand that my sellers be motivated enough to want the sign in the yard and MLS. 

I hope you have a great weekend. 

Hi Gayle, I see why this was featured, congrats, I would have suggested otherwise, I have never heard a pocket listing explained so simply and it is an example of another tool in our arsenal, I can see where in a community like yours, that it would get used a lot more than in a normal subdivision elsewhere.  See my reply to your comment on water restriction post, thank you by the way. 

Hi Gayle, great post. That works great for your community but I need all of the exposure I can get. My community is not that small. Congrats and thanks for the information.

Gayle,

I've rarely used a pocket listing but they are indeed perfect in certain cases.  Our form clearly states the owner will get more extensive publicity with MLS exposure, so all is above board.  I think all agents should understand pockets because they are right for some specific situations!

Hey there beautiful lady/ Don't know what pocket listings are but I do know what a feature is and we BOTH got one. WOO HOO. CONGRATS. Hope your day has been a great one. Enjoy your weekend.

at the end of the day pocket listings are just wrong. they are a disservice to your seller because an agent is acting unethically by not getting them maximum exposure.

Here in the Pittsburgh Area (West Penn Multi-List) we HAVE to enter properties into the MLS within 48 hours once the paperwork is signed.  A "pocket List" here is meant that we have a list of buyers and we call them with the details of the property when the papers are signed and we are not at the office yet to get the info into the MLS.  It happens mostly with listing agents that list foreclosures... they have investors waiting to jump on foreclosures that are nice and priced right. When they hit the MLS they are already "Contingent"

That is a term I haven't heard in a long time. We used to have 'pocket listings' on land quite often. I actually have one on some horse property right now.

I love the new profile picture and I've had some great pocket listings in the past. I've been lucky and have sold everyone of them in less than 3 days! But, they have to be the right listing!

Gayle,

I like your new picture also.  You're a hottie, as the kids say. (that means you're hot).  (Delete this comment if it's inappropriate, I won't be offended.)

I'm in a "mandatory" board which requires all listings be placed into the MLS within 48 hours unless the seller signs a statement that they understand they will not sell the home for full market value.  The standard listing agreement also states the property will be placed into MLS within 48 hours.

I've never taken a pocket listing in 35 years.  I've had frail sellers where the showings were restricted to specific days and times, but the listing was in the MLS. 

I'm in a large urban and suburban market in the South San Francisco Bay area, not beautiful, rural Fishhawk.

With this hottie talk this thread is getting a bit steamy Gayle both in terms of your new photo as well as a "pocket listing". Right place, right time, right client there is nothing wrong with this IMO.

I spend a lot of time working with off-market properties and there are, in my opinion, varying degrees of "off market".  It's definitely harder to sell but there are advantages.  I think the biggest thing people need to know if that off market or pocket listings don't have to be high-end.  I've had or known many priced at or below the median for an area.

Pocket listings in our area are done with a handshake.  I have had a few pocket listing and none successfully closed.  My pocket listings have been listings that I have had that have not sold in MLS and then sellers will pull the listing from MLS over the summertime (our slow season).  They usually relist just before the winter residents return. I don't see anything wrong with pocket listings as long as the seller understands what it is and they are not going to get the full exposure they would with an Exclusive Listing Agreement.

Good for you Gayle. It's obvious folks trust you greatly in Fishhawk Lake...and why not? You've certainly earned it. Real Estate isn't a "one size fits all" business -normally if they are getting "less" exposure, it might take a little longer to get them sold, but I doubt it considering your unique situation. YOU are pretty much "it" in Fishhawk Lake - at least in my mind.

Well done. (Hottie) :)

Hi Gayle, Congrats on the feature. My words have been  said already. Would just like to add that in my area, also, pocket listing is not a signed anything. It is not something I like because so much can go siddeways at any time and then what?

Hi Gayle....all listing should not go into MLS- all of our land listings are pocket listings....we market them to builders....we do not take any commission on the land if we sell it to one of our builders and we get the listings on the homes....if it's another builder who buys it and they have their own marketing team, we'll need to be paid a commission.....that doesn't happen often....we usually sell the land ourselves to one of our builders.

I hope you are having an outstanding weekend.  We are getting a lot of rain in the east as we follow the path of hurricane Irene.

 Blooming for you!