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What Is A Pocket Listing?
Has a real estate agent told you they have a pocket listing just for you? What does that mean and is it really the best deal?
A pocket listing is a real estate industry term where a listing broker holds a listing agreement with a seller and both sides agree not to advertise the property. Pocket listings are not on the local Multiple Listing Service and there will be no sign in the yard indicating the property is for sale as a pocket listing.
The pocket listing is a unique arrangement where a seller has asked the listing broker to only show their home to a limited number of people. The pocket listing works well for celebrities and other high profile individuals who want to sell multi-million dollar properties without dealing with the inconvenience of having hundreds of people walking through their home. This type of listing is also financially beneficial for the listing brokerage since they are representing both the seller and the buyer in the transaction.
Does A Pocket Listing Benefit The Buyer?
If a listing is not available on the local Multiple Listing Service or advertised, a Buyer will "find" a pocket listing through the Brokerage listing the property. This means ... more
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