Benefits of the Coming Soon/Pocket listing Status
A pocket listing: where a broker holds a signed listing agreement (or contract) with the seller, whether that be an "Exclusive Right to Sell" or "Exclusive Agency" agreement or contract, but where it is never advertised nor entered into a multiple listing system (MLS) (if residential property), or where advertising is limited for an agreed-upon period of time.
Pocket listings may give buyers an extra advantage when searching for real estate which is not advertised anywhere else. These special properties, while under listing contracts, may be unique because they are sold privately and may never be intended to be listed on the Multiple Listing Service (MLS), (if residential property).
Many real estate investors and home buyers pay high attention on listings that have the “Coming Soon” “Pocket Listings” status. Adding a “Coming Soon” “Pocket Listings” status will attract more potential investors and home buyers and may lead to a faster sale. Listing agents using this status will have the opportunity to create excitement around these listings. “Coming Soon” “Pocket Listings” status helps generate buzz for these listings.
Many investors and home buyers are very excited about these type of listings because they have the information on the property before the property ever made it to the MLS (if residential property). In this way buyers feel you are providing a great service to buyers.
“Coming Soon” “Pocket Listings” listings are properties that are not listed for sale in the MLS (if Residential) or are off Market and can be presented by anyone who is permitted to list them. It provides listing agents with the ability to promote properties that are not ready to be shown in the MLS but will be soon.
“Coming Soon” “Pocket Listings” are great opportunity for sellers and buyers. Sellers may want to test the market before actually signing an official listing agreement and go with the process of open house or and touring the property. Buyers have less competition.
For VIP/Celebs property owners, it is a great tool to sell their properties. “Pocket Listings” is the way to go when selling their property. It can reduce the need for many showings to strangers.
HOMEiZ gives the opportunity for those who wish to list this way, to may not disclose the property address and the asking price as well. It will have to disclose the listing provider contact information, property type, city, state and Zip code. For complete information on the property you will need to contact the listing provider.
Many brokerages are starting to provide private pocket listing services for the public and investors that allow them to act as a dual-agent in the transaction. For Real Estate Agents /Brokers, “Pocket Listings” is a great way to double end the transaction and make more money.