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What are Pocket Listings

Posted by Joe Samson on Friday, May 3rd, 2013 at 1:59pm.

Have you at any one time asked yourself whether the realtor of your choice is working for you or if they are working for their personal interests? It helps a lot to know which side they are on and it would help you determine if you would like to work with them or not. Such a question really is a valid question which every investor needs to ask themselves. More so if you feel like you are being led into pocket listing of a triplex or other forms of small properties. This instead of taking it up with caution experts or the MLS.

Property as big as that should definitely go onto the multiple listing service - the words of Banny Bar a realtor and investment professional. He continues to say that potential buyers for property that has less than 15 doors already know what they are looking for both on the MLS system and on their own. When it comes to such properties, pocket listing has a better option of extending the duration on the listing and therefore attracts fewer interested buyers and thereby lowering the price which the seller will get after all.

This is a lesson that many number of Calgary home buyers are coming to terms with. More so when they have to cede toe the requests of the realtor when they ask them to take their properties off the multiple listing services and instead allow them to find buyers by themselves through their own websites or established contacts.

There are a lot of incentives available to the client some of which include a discounted amount of commission made available to the agent. This incentive is one that is closely guarded by the real estate experts, especially when it comes to Calgary real estate agents. They want to avoid as much as possible the process of having to split the commission feel with another real estate expert.

Pocket listings are a viable option for a client who is looking to sell a larger property. This is also dependent on whether the real estate professional has years of real estate experience and is well connected to all his or her potential buyers. The truth of the matter is that real investors want to be completely sure that they are dealing with a professional and experienced broker. They want to know if they can trust the broker to deliver the best deal. That's not all. They also want to know just how this broker will market their property if they do not have any intention of putting it up on MLS. Will their strategy be successful or end up as a total failure?

Often though, it is the client who does not want the MLS and multitude of buyers to know that their home is a home for sale. That choice has its own unique disadvantages. Such downsides, according to Bar are the ones small investors should think about before they choose to tightly guard their privacy on the pocket listing.


Calgary, AB Real Estate Blog

 

I am a licensed member of the Real Estate Council of Alberta since 2005 - proudly representing CIR REALTY, Calgary’s largest real estate brokerage. I enjoy keeping my readers up to date with real estate related information that they can easily understand and use for their own benefit. I welcome feedbacks and comments equally from first-time visitors to my blog, past clients and also from my fellow REALTOR® colleagues. Thanks for stopping by!

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