Pocket listings can have negative impacts on the housing industry. Related: What are iBuyers, and Can They Really Drive Up Real Estate Prices? Pocket listings are also common in the high-end housing market so that agents can limit the home’s exposure to serious buyers only. By opting to avoid a public listing, they are not required to share photos of their home’s interior. Since pocket listings aren’t found on an MLS, they are often used by celebrities and other high-profile sellers as a way to keep their real estate dealings out of the public eye. One major benefit of a pocket listing is privacy. Therefore, they can skip the marketing phase and complete the sale privately. Why would sellers opt to forgo traditional marketing? One of the simplest reasons is if a seller already has a buyer-like a friend or family member-who is interested in the property. Sellers can similarly tap into their own network of family and friends to gauge interest. Since the sale won’t be marketed publicly in any way, the realtor will instead reach out to personal contacts in an attempt to find a buyer. Sometimes the arrangement will stipulate that the listing will only remain private for a set period, while other times, it will remain private until the home sale is complete. The two parties agree on the terms in a listing agreement, which outlines whether the listing is public or private. Rather than relying on public marketing, pocket listings are handled privately by the realtor and seller. A pocket listing is a real estate listing that’s kept private.
0 kommentar(er)
