If you Google the phrase “what is a pocket listing?” it’s likely you’ll encounter a heap of negative reviews.
And for good reason.
A pocket listing serves the best interests of the listing agent, not the seller. The agent keeps your home off the MLS and only advertises it directly with their own clients and prospects. All other agents are purposefully left out of the loop.
This means the agent gets to generate new clients while often doubling their own commission by dealing with both the buyer and the seller.
But it’s important to make a distinction at this point.
Recently, pocket listings have become mistakenly confused as being the same thing as a pre-MLS or non-MLS listing.
Which isn’t correct at all.
A non-MLS listing involves strategically advertising your property to a niche group of highly influential agents.
In the case of Top Agent Network, that group is made up of the top 10% of agents in the area. These agents sell over 90% of the properties and represent over 90% of the true homebuyers in the region.
A pre-MLS listing involves keeping your property off-MLS for a limited period, with the intention of eventually going on the MLS.
In both cases, your property is not hidden away. So why have pocket listings become confused with non-MLS or even pre-MLS listings?
Largely, it’s because both approaches involve keeping a listing off the MLS. As a result, the terms have become used interchangeably.
But as it’s hopefully now clear, there’s an important distinction to be made.