As a method of selling your home, a pocket listing offers both advantages and disadvantages that I want to discuss today.
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What is a pocket listing? What does that mean for you as a seller?
A pocket listing is a listing that the seller has agreed to sell but has not made the choice to officially list it for sale yet. You won’t find these types of listings on the regular MLS or on the Internet. The seller, though, has visited with a real estate agent and told them that they’d be interested in selling the house if the agent can find them a buyer.
There are both advantages and disadvantages to selling your house this way. One advantage is that you can maintain your privacy throughout the sale. Another advantage is that because the home doesn’t spend a lot of time on the market, you only have to deal with a small pool of buyers and avoid a surplus of showings. These factors generally make this selling method the most stress-free.
Do we use pocket listings? Absolutely. We help many clients sell their house before it even goes on the market. We do that through something called an “off-market property list.” As soon as someone tells us they’re interested in selling their house, they’ll go onto our off-market property list and we try to match that house with home buyers we’re working with who we think might be interested.
Pocket listings can be a very valuable tool to get your home sold.
One very clear disadvantage to pocket listings is the limited amount of exposure they offer. Because it’s not a regular listing, a pocket listing won’t get the benefits of a full marketing package. A related disadvantage is the house will also probably have less foot traffic. If fewer people (and agents) know that your home is for sale, there will naturally be less activity surrounding it. Depending on your circumstance, pocket listings can be a valuable tool in helping you get your house sold. If you have any questions about this or any other topic, feel free to reach out to us. We’re here to help!
