Are "Pocket Listings" Bad for Sellers?
There are advantages and disadvantages to giving a real estate agent a "pocket listing". If you are a celebrity, prosecutor, judge or someone that wants strict control over who will see their home a "pocket listing" may be for you. If you want to be certain that only financially qualified buyers see your home and you have a specific vetting process for buyers then a "pocket listing" may be for you.
If you are a seller that is looking for full market exposure and the "highest and best offer" then a "pocket listing", or "off MLS listing" might not be the best choice. If you are in a "low inventory" real estate market and you are a seller a "pocket listing" is likely to cost you more money than it saves you.
Be sure to talk to your real estate professional about the pros and cons of a "pocket listing" or "off-MLS listing" before you commit!
For more information about "pocket listings" go to www.VirtuosoBroker.com and this post on "pocket listings".
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