The Pocket listings phenomenon
Pocket listings aka “off-market” listings have become more and more common for the quietly listed properties. Why? you may wonder…I know I did.
For as long as I have been in Real Estate, I have often questioned why a seller would list this way. How can a realtor effectively test the market and secure the best real estate value for a clients home.
As a realtor, I aim to do right by my client, that is the job I signed up for, and the right thing to do. So not testing the market seemed limiting to me.
I can honestly say, now I get understand why and how to effectively sell properties “off market” and do right by my client.
There are many reasons for listing a home this way. First, a clients privacy, this is very important for many. It is after all, the choice of the client, of how and with whom they list their home.
Secondly, during these current low inventory days, particularly in the affluent areas of Los Angeles. Such as Beverly Hills, Malibu, Hollywood Hills, Newport Beach and the beautiful Southbay-Beach Cities, it’s not too hard to sell a home without putting in the MLS. A realtor like myself, with several networks and great relationships can easily make a few phone calls, send a few emails to create a great buzz about the new quietly listed property.
This is not the perfect model for all cities, clients or properties, but it’s an option nonetheless. And who doesn’t like options…
Any Real Estate needs? Contact me for any market or pocket listings available.