What's in your pocket?

A pocket listing is a home for sale that has not been entered into the Multiple Listing Service that Realtors use. By not entering into MLS, this allows the agents to market the property through informal networks or on line such as Craislist or other similar type websites. Some agents say this hurts the sellers and are taking steps to prevent this in the near future. However, pocket listings have always been around, some sellers prefer the privacy, and don’t want their home on the internet or hordes of people traipsing through their home. Pocket listing seems to increasing, as it allows the sellers to negotiate a sale privately, rather than fix up, stage or hold open houses. MLS services are owned by Realtor Association and they usually charge their members annual fees to list properties for sale, or they must file an exclusion agreement signed by the client granting permission to withhold the listing. Some agents argue, that pocket listings helps the sellers because you don’t have days on the market counter running against you and it test the water of interest. Pocket Listing is another alternative the sellers can take advantage of without any high risk to the future listing it on MLS at a later date.