WASHINGTON – March 15, 2013 – Pocket listings have gained popularity in recent years and established their own, albeit small, market. These homes are not entered in the MLS, often because the sellers want to protect their privacy or test the waters before committing to a sale.

Some agents contend that pocket listings make it difficult to search comparable homes and prices, and they’re unfair because the listing brokerage generally completes the transaction in-house, earning both the buyer and seller commissions.

However, some agents who handle pocket listings say they alert buyers and market them on social media while preparing photos, paperwork and marketing plans in hopes that they’ll sell before officially hitting the market.

States have differing views on pocket listings as well. New York, for instance, makes it unlawful for buyers and their agents to be deterred from viewing a pocket listing – although listing brokers are not required to compensate buyer’s agents.

Source: RISMedia (03/14/13)

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