A brief summary of Pocket Listings
Pocket listing is the process in the United States where the seller and the broker has a signed and listed agreement that when a property would be sold only that particular broker would have the exclusive rights to sell that particular piece of property. This practice is also known by the name of ‘hip pocket listing’. In the regular scenario, the broker might engage some other brokers and provide a percentage of the commission with a clarified consent from the seller. In another situation, the broker would not engage any further broker to sell the property. In this case, under any condition that a particular property cannot be listed in MLS (multiple listing systems).
The primary reason for following this practice is being discreet. The seller might want to filter out the people to whom they would like to sell their property. The other reasons include marketing strategy, which might be legitimate. Pocket listings always ensure that the transactions and the property handovers are smooth and hassle-free because not many people are aware of the real estate sell.
Pocket listing is becoming extremely popular in all over the United States. Many of the real estate brokers are trying to engage themselves in Pocket-listing ventures. Even though MLS offers more options and monetary benefits, the smooth transition makes pocket listing a very lucrative scene amongst the seller, buyers, and the brokers as well. Nevertheless, it is totally dependent on an individual on how they would want their property to be sold, whether by open listing or by being discreet.
Posted By Mia Walton 05/21/15