This means that if you begin marketing the property on Friday, you have the entire weekend to keep the home as a pocket listing.Īlso, if the Realtor never begins to publicly market the property, the listing can stay off the MLS.įinally, if a real estate professional is not associated with the National Association of Realtors they can list your property as a pocket listing for as long as they wish. And since most real estate agents are Realtors, it has made pocket listings mostly a thing of the past.įirst, the Realtor has one business day to list the property on the MLS after they’ve begun publicly marketing it.
Even though a Realtor has a fiduciary duty to their client, they can not create pocket listings.
However, if you are or are working with a Realtor (a real estate agent who’s associated with the National Association Of Realtors), they are held to more strict standards. Pocket listings are legal in just about every state. Or, the seller might have a potential buyer in mind already. That broker will then try to market that property through word-of-mouth or through private online networks where they think they can find an interested buyer. Because it is not available to the public, it is in the “pocket” of the broker. So how is a pocket listing different? A pocket listing is not listed on a multiple listing service (MLS). The information on the property is then available to any Realtor with access to the MLS of that open market. Usually, a traditional listing is put on a multiple listing service (MLS) by the listing broker.
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