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Don't like the concept. There are exceptions. One would be when an agent has a buyer and happens on a listing that fits the bill. If it happens often, they need another sponsor!
Westlake Village, CA
BILL CHERRY I personally do not like pocket listing.
I may promote 'coming soon' if I have sufficient time, however, pocket listings may not be in best interest of the sellers - my two cents.
NO!!!!, Illegal in Minnesota to promote any property we do not have a formal listing agreement on. Plus, once we have the listing we have 3 days to get it on the MLS
Westlake Village, CA
My listings are always Exclusive to the Brokerage or on MLS, at the Sellers' discretion. "Pocket Listings" up here mean there has been no paperwork completed. I tend to ignore any of those!
If I have a listing that the sellers don't want in the mls, I adveritse it other ways. But I don't claim that I have a pocket listing. I want every agent and potential buyer to know about it because there is very little chance i will also find the buyer. Some sellers are in divorce or child custody cases, others didn't want family or ex spouses to know they were selling and moving.
Granite Bay, CA
No, I do not believe in pocket listings. I like your statement.
No I do not Bill.
Never had one, but it seems rather foolish to keep them secret.
Pocket listings could lead to problems in our market.
we put all of our listings in MLS except tracts of land....we market for those and feed them to our own builder/developers..... they don't belong in MLS...there aren't enough agents who appreciate them and/or know what to do with them.... we know what to do.
No. We alwas had one party exclusives or open listings that we did not tell the whole world about. We shared those with clients, and agents whose ethics aligned with ours. We also had our buyers sign an exclusive and they initialed on every property we showed on our survey. A
BILL CHERRY It is mandatory that all listing go into our MLS unless the seller dictates in writing otherwise.
I like your thinking Bill.
Yes, if there is no signed listing agreement watch out. Unless the seller has said don't put it on the MLS. Have never had one say don't put it on the MLS.
BILL CHERRY ...I do put some ...COMING SOON on my web-site ....If it's just somebody that says to keep their home in mind if I have someone it would work for then I don't.
No. I hate the entire concept.
I don't do pocket listings.... they don't do much for a seller and I've never had one ask me for one.
I have never listed a pocket listing.
Good Sunday morning Bill. I'm not sure about the state of Tennessee I will have to check into that.
If I have a pocket listing I get written permission to continue to advertise it.
BILL CHERRY This is very good question.
I do not as my allegiance is to my sellers and the listings I carry. I advertise and promote them but if they don't work for a prospect or client I would mention other possibilities.
we sometimes mix up a signed agreement and a pocket listing. in the ole days pocket simply that you knew someone who wanted to sell, but didnt want it "out" there. i have given this opportunity to a few agents. i wouldnt mind selling, but dont want it widespread.. talk to your clients and your buddies. However when one did come up, i would sign an agreement for that one buyer. this is common. i would not want it advertised however
My answer is the same as Susan Emo. We are in the same province.
No but I do advertise that the best house to buy may not be active in the MLS. It may be an expired, FSBO, cancelled, etc.
I do not advertise that I have pocket listings. I do advertise coming soon listings where the seller has authorized me to withhold the listing from the MLS (typically for a week), and I have time to begin the on-line marketing before it hits the MLS. Though, if any agent want to see or view the home with a client, I can show them that they will be compensated per the listing agreement.
No, I only talk to those who I know have clients that might be interested
I don't take pocket listings as a rule. I generally think it's in the best interest of the seller to have the property on the mls.
It is all too likely that a client may want to sit out of the MLS. In California you can select to exclude yourself from the MLS.
Bill, there are a multitude of reasons why sellers don't want their properties advertised on the MLS. Case in point with some of my friends. Many of their clients are private business owners who wish to keep their financial dealings a secret from their competitors. Whether this be their personal residences, their commercial holdings, or even large equipment purchases or liquidations. In this day and age of the free flow of information, and with the ease of which it can be obtained, it's very easy for a would be business competitor to use any financial information obtained as a hedge against you in a business deal. I've seen it happen many times.
No that is a violation of our NWMLS agreement...
While we may be able to speak of it our MLS's have put a stop to actual advertising. 24 hours after any public advertising needs to be in MLS or fine is possible. mark
I'm with you on this Bill.