Pocket listings -- off-market listings that are marketed directly by the seller’s real estate agent or broker -- are growing in number, according to news reports.
Sellers must agree to "pocket listings"; otherwise they aren’t permitted. Some sellers agree to such arrangements to “test the waters” first with selling or to avoid a large number of people from entering their home, or they may seek privacy, like in cases of celebrities or public figures.
Some real estate professionals argue the rise in pocket listings is hurting the housing market because these homes are given limited exposure and are making it more difficult to compare homes and prices.
Usually with pocket listings, brokerages complete the entire transaction in-house, thus collecting both the seller and buyer commission.
“Pocket listings are a good segment of our business,” writes one real estate professional on the RISMedia Facebook page. “Regarding cons with agents taking in full commissions ... we charge a flat rate for our pocket sales, much less than a full-percent commission.”
But many agents note that the majority of pocket listings are eventually entered into the MLS.
Source: “Pocket Listings: Helpful or Harmful?” RISMedia (March 14, 2013)
The U.S. Department of Housing and Urban Development (HUD) says that since so many details, especially financial ones, are involved in buying and selling a home, using a real estate agent is a good idea because that professional can be a guide throughout the process, making the entire process and experience so much easier.
The key to a successful and positive experience with a real estate transaction in {Location_Name} is finding the right professional to assist you. While a real estate agent can meet your needs, the services of a Realtor® in {Location_Name} will suite your needs even better.
What’s the Difference Between a Real Estate Agent and a Realtor?
Of the more than two million people who have earned real estate licenses, only a small percentage of them are Realtors. Realtors, who are members in good standing of the National Association of Realtors, their state association of Realtors, and a local real estate board, are held to high standards of ethical behavior and undergo continuing education annually to remain accredited.
All agents of Nesbitt Realty are Realtors!
What Does a Realtor Do?
Law requires Realtors to:
- perform necessary and customary acts, in good faith and with reasonable care, to assist in the purchase or sale of real estate.
- properly account for money or other property placed in his or her care.
- disclose “adverse material facts” which are, or should be, within the agent’s knowledge.
Realtors can assist buyers in many ways. One such way is keeping buyers informed on all the latest listings, to which Realtors gain access as soon as they are listed on the market. Realtors will also be familiar with all the information you may want regarding the area of your potential home, which may include school quality, community safety, traffic volume and commute time, accessibility to shops and public transportation, and proximity of local parks and recreation. When a buyer is ready to purchase a home, Realtors can help you pre-qualify for a mortgage, weigh the pros and cons of the varying types of mortgages, and walk you through the complicated paperwork involved in real estate transactions.
Realtors can also assist sellers with listing and preparing to sell a home, screening potential buyers, and showing investors properties that suit their investing profiles.
Through efficient organization and coordination of meetings with potential buyers and sellers, Nesbitt Realty can quickly locate the perfect home for you or sell your home in the shortest time possible.
