Tom Branch wrote a featured post titled “Are Hip Pocket Listings Really a Good Thing” and I’d like to share my thoughts on that topic.  My team and I are listing agents and every listing we secure is immediately submitted to MLS.  This is our rule with one exception.  Give me a moment to find my bulletproof vest!!

Whenever we search for tracts of land, we explain to the seller that if they list the land with us, it will not be submitted to MLS.  If we sell the land to a developer, and we secure the listings, we will not charge a commission on the sale. 

This type of agreement can be called a “pocket listing” or it can be referred to as “good business sense.”  There is nothing more discouraging than to have an agent introduce a developer to a tract of land and not know how to proceed from there. 

If we don’t submit the listing to MLS, we can eliminate handing an agent, with his/her head in the sand, a parcel of land for 100 new homes.  That would happen over my dead body!!!

Tracts of land are a rare entity in my area.  If another agent who is seasoned on the subject of land sales and new construction has a developer/builder, and we can work out an equitable split of listings, we’ll do a deal.  But we will not have a gun to our heads to co-broke a tract of land; do all of the tedious work for 2 years to obtain approvals; and not receive listings.  You can call it whatever name comes to mind.  I call it good business sense.

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62 Comments on Can You Keep A Secret....It's In My Pocket And It's Staying There!!

20 Most Recent Comments Displayed Show All

SEP
20
742,339 Points 16 Featured Posts Outside Blog Called Shot Master

Barbara, as long as you receive your direction from the seller and they agree, I don't see it as a problem.
5:13am • #43
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Michael.... I always have their blessing.... and if not, I may pass on that parcel of land rather than get "fouled up" with a novice agent's deal....
5:30am • #44
470,604 Points 40 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Good points here but the idea of pocket listings still seems to be confusing to Realtors and the public alike. I work pocket listings and in many instances they do have a valid place in the business. I guess I better post my own article on the subject....
5:46am • #45
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Russell.... I'd love to read your thoughts on this topic....
5:48am • #46
226,860 Points 6 Featured Posts Called Shot Master

Pocket listings are very similar to listings held by a non-MLS member.  Not a bad thing if you know how to work them in the sellers favor.  Everything always leads back to the seller and what is in the sellers best interest and what a seller agrees to.
5:54am • #47
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Mike...yes, that's the bottom line..... if it's in the seller's best interest, it's a good path to follow....
6:01am • #48
163,447 Points 1 Featured Post

You really have it figured out.  Great business sense.
7:57am • #49
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Nan..... it's not difficult....it's doing what makes sense for the seller....
8:12am • #50
154,133 Points

In/around sF, we have numerous pocket listings.  You often see them advertised in Craigslist.  Perhaps they need to come up with a new category search.........SLEAZY PEOPLE POSING AS AGENTS SHILLING PROPERTIES.

Our DRE could generate some serious revenue, by trolling those online listings for violations.  Check it out sometime.

However, I do see your point about the vacant land listings.
8:15am • #51
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Anthony..... there's a professional reason and a sleazy one... I distance myself from the sleazy agents...they have no interaction with me or my business.... and I'll keep it that way..... the fines could be big bucks... maybe that could reduce some of the costs of doing business for professional agents....
8:26am • #52

AGREED!! I have been in the business for over 15 years and I would have NO clue how to properly handle a sale that included land development - and I wouldn't want to "wing" it either - a sale of that size/price also brings a higher level of cost if you don't know what you need to know for your client's protection.
9:57am • #53
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Erika.... right.... this is not a listing you throw into mls for everyone to dive into....
10:10am • #54
1,138,433 Points 91 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Interesting thoughts. We don't see much development going on here, and no new housing developments going up. But it's a great way to protect your future!
10:45am • #55
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Erica..... it works for me....
10:59am • #56
762,262 Points 61 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I sell a lot of land to developers and yes you must keep yourself ahead of what is going on. I enjoy working with other agents who have been down this road before and know the ropes.  Those who are out of their area of expertise have no business selling this type of property.  Pocket listings can be diamonds in the rough for developers.
11:01am • #57
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Paula... developers never expect to find tracts of land in MLS.... if they are in MLS they're usually junk....
11:04am • #58
1,178,917 Points 87 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Barbara, that sounds like a plan that has worked successfully for many years, and something that just came to your mind because of a tract of land that might have just become available. Good Luck
11:14am • #59
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Ed.... I wish I had a tract of land right now..... it would have been sold the day I learned of it..... none of my land listings that are developable will go into MLS.... tough parcels are submitted and usually do not sell as subdivisions but rather parcels for a professional building or other use. 
11:19am • #60
426,934 Points Outside Blog

You go girl, I couldn't agree more.
12:00pm • #61
1,547,989 Points 281 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Adam..... that's the way it is....
12:03pm • #62

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Barbara Todaro "New Franklin MA Homes" (RE/MAX Executive Realty ) Rainmaker_large

Barbara Todaro "New Franklin MA Homes"

Franklin, MA

More about me…

RE/MAX Executive Realty

Address: 445 Franklin Village Drive, Franklin, Ma, 02038

Office Phone: (508) 520-9881

Cell Phone: (508) 918-9148

Email Me

The Kuney-Todaro Team is the "#1 team in Franklin's #1 office." Our expertise is in marketing new construction and resale properties. New construction is our niche and we have sold 40 subdivisions in the area of Franklin MA.


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