![]() ![]() One of the key reasons sellers market their homes privately is to avoid a large crowd of non-serious buyers touring their homes. Homes that go under contract this fast are usually marketed privately before hitting the MLS, which would make them pocket listings. Given their private nature, it’s hard to pinpoint exactly how many homes are sold as pocket listings, but housing market analysts point towards an uptick in popularity during the pandemic.Īccording to Redfin, the number of homes that were listed and immediately marked as ‘sold’ or ‘pending’ have increased from 1.8% in June of 2019 to 2.8% in June of 2021. That’s no longer the case, with more sellers opting for pocket listings in the last few years. In the past, pocket listings were primarily used by high-net-worth individuals or celebrities who wanted to keep their home sales a secret. Pocket listings are also referred to as ‘exclusive listings’ or ‘off-market listings.’ How Popular are Pocket Listings? Buyers need to have some connection to the brokerage, agent, or seller to hear about the property. The general public isn’t aware of the listing because it remains in the agent’s ‘pocket,’ and is shared with a selected few. >MORE: Finding local agents is easy with FastExpert What is a Pocket Listing?Ī pocket listing is essentially a privately sold home. Instead, agents share the pocket listing with an exclusive network of buyers or with other real estate professionals in their professional network. Pocket listings don’t appear on any of these sites because they never make it to their local multiple listing service. Once posted on the MLS, the listing is automatically shared with other agents within the MLS database and with the public on aggregate listing sites such as Zillow, Redfin, and. Traditionally, agents register property listings on their multiple listing service, the MLS. It’s known as pocket listing and is becoming increasingly popular. That’s right! There’s a group of sellers out there who are choosing to reduce the competition for their homes. You may be surprised to know that in today’s housing market, some sellers intentionally limit their home’s visibility to prospective buyers. Click here to browse the FastExpert Real Estate Agent Directory and contact top-rated agents in your area ![]()
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