Margy Grant – "Pocket Listings" and "Coming-Soon" Listings Pitfalls
Non-MLS listings, or pocket listings, are not illegal or unethical when directed by the seller, but they do carry additional complications. Before taking or encouraging a non-MLS listing, a Realtor should evaluate the property and make sure that leaving it out of the MLS is the right decision for the seller. Also, taking a listing and putting a "coming soon" sign on the property for a week or so before actively marketing it in the MLS is most likely a violation of your listing agreement and possibly a violation of the Code of Ethics. Watch the video for further explanations.
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