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Listing Your Home for Sale: Pocket Listings?

There is a new trend beginning of something called "Pocket Listings" or "Shadow Listings".  This is a Real Estate trend that is developing in the US.  What is a "Pocket Listing" and how do "Pocket Listings" work?  

What is occurring is certain Real Estate firms are selling home owners on the idea of a "Pocket Listing" where only their firm and clients of their firm can possibly sell their home for an initial listing period.  The Realtor discounts the commission the seller pays.  Many Realtors are also assuring the home owner that if a neighbor or anyone else that sees the sign and calls them soon after listing their home, the seller will receive a discount in the commission.

Yes, the seller may save a couple thousand in commission.  The sales pitch is that our company has "x" amount of brokers and there is a good chance that our office can have the entire commission instead of splitting the commission with another firm.  But what is the risk?  True market value for a home is determined when the home is properly exposed to the entire market.  The Internet places your home in front of millions of potential home buyers across the city, across the State, across the nation and across the globe.

A HUGE Warning flag for me is when I begin getting investors calling for Pocket Listings or In House Listings within my Real Estate Office.  I have personally received several of these calls over the past couple of months.  What every investor wants is to find a home below market value without competition.  This amounts to home below true market value.  Who would willingly sell their home below true market value?  

Dear home owner, do you believe you will gain more by saving a couple thousand in commission with a couple dozen agents looking at your home or as in Charlotte, if 9,000 Agents along with the Internet marketing to millions of potential home buyers across the globe get to view your home in person and/or on line?   

Any product sold without being exposed to the "complete market" is selling you home below market value.  Yes, I believe in the open market place and more eyes that see your home the better.

Realtors are sales people and many are fantastic at persuading you to do what is in "their" best interest.  It is up to you to decide if you think a fraction of the area Realtors can touch the power of Internet marketing.  Ultimately, the choice is yours.  When selling your largest asset to any one individual, you want as much exposure as possible to assure you receive the top dollar for your home.

I list Charlotte area homes for sale.  I focus on Ballantyne and Union County but have listings from Cornelius to Clover SC.  If you want a marketing plan that exposes your home to the greatest amount of potential buyers, call Rick Waite today at 704.770.6559.  You hire a Realtor for marketing.  Marketing within an office, not exposing your home to the vast Internet resources, is something that should have been done away with decades ago.  Do yourself a service and consider greater options.

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