What is the Private Listing Network in Winnetka & the North Shore Updated 2022 TWO THINGS HAPPENED IN REAL ESTATEIn 2018, our Northern Illinois Multiple Listing Service (MRED) introduced the “Private Listing Network” (PLN) to real estate agents.
Then, last November (2019) the National Association of Realtors banned the use of “pocket listings.”
WHAT IS A POCKET LISTING?First, what is a pocket listing and why is it problematic? A pocket listing (sometimes called an exempt listing) is an agreement between the home seller and real estate agent (more specifically, the brokerage) that the house will not be listed on the Multiple Listing Service (MLS,) (4 comments)
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