pocket listings

[Roy Mitle]

Hi

I was wondering why some houses go on market w/o being listed on MLS.

Someone advertised probate sale. And wanted to keep it quite?

I would assume MLS is best for seller because they get top $

[Chad Benedict]

It's become very common. There are some private, invitation-only Facebook groups here in Dallas where top realtors can share pocket listings. There's also a new website realtors can join to share pocket listings. It's a hot market, and agents know they can sell houses in certain neighborhoods without dealing with the MLS, so it's just easier. And it's smart marketing, because it adds another air of exclusivity to certain properties.

It can also be a better experience for buyers. Many buyers are getting outbid again and again for properties on the MLS, where they're competing with 50 other buyers for one property. So when their agent comes to them with a pocket listing that only a few people know about, they're more likely to look at it because they know they have a better chance of securing it. That way the agent can provide a better experience.