“Pocket listings” are properties that are not publicly advertised but are considered for sale. Advertising for these homes is typically done through the Realtor’s and the seller’s networks, by word of mouth, and increasingly with a property-specific website. Pocket listings are a subject of much debate in the real estate world: whether the seller is serious about selling, if the asking price is realistic, and if the Realtor is able to properly do his job of getting the most exposure possible for the property.
The exposure debate is about to be laid to rest. Expected to launch in January 2010 is PocketListings.net, a nationwide website exclusively for Realtors to promote properties that are not listed in their local MLS (multiple listing service).
The website will have a basic set-up where the general public can peruse these off-market real estate offerings and, when interest is piqued, have his or her agent contact the Realtor. No addresses will be published. Only licensed Realtors are able to enter property listings, which will preserve the site’s goal of becoming the go-to place for additional housing inventory, rather than a free for all for FSBO’s.
If you are too excited to wait for the website to go live, visit PocketListings on Twitter, which is already brimming with inventory.Amy Blakeley, REALTOR® McGuire Real Estate www.AmyBlakeley.com ablakeley at mcguire.com