I’m sure my Realtor colleagues would agree they often have requests from their potential sellers to “list” the home but not populate it on the MLS system. Perhaps they want to create a sense of exclusivity about their home, or perhaps they want to test the market without really putting it ON the market. The article I read provided by Realtor.com focuses on a few things that need to be considered before our homeowners make the decision to pursue a “pocket listing”. Why would sellers want this instead of the real deal? Here are the three points brought up in the article:
1) The Homeowners Want Privacy.
In response to this, our owners need to know that as Realtors we have a sensitivity to our clients’ desire for certain pieces of information that should remain private. We have the technology tools to tailor any listing content on the MLS to restrict or expand the information according to our owners’ comfort level. Privacy can be honored while still aggressively marketing the home with a few creative keystrokes and the proper verbiage.
2) The Homeowners Don’t Want Armies of People Walking Through.
Remember we can limit our showing schedule to convenient times for our sellers, with as much lead time as they need. If weekdays don’t work or if evenings are best, we can provide detailed instructions for our Realtor community in the remarks. My opinion is that a strong listing agent will be able to pre-qualify the showings to some degree, and we DO want qualified buyers to see the property. Exposure is the key to getting our homes sold! In addition, we can provide “by appointment only” instructions that allow us to control the flow and eliminate the lockbox showings.
3) The Homeowners Don’t Want Their Home Showing Days on Market.
Every home has a buyer. It often takes time to receive that perfect offer from the perfect family for your home. By trying to restrict the exposure to only those who know about the pocket listing, our sellers may be restricting the opportunity for real buyers to view their home and make an offer.
In the big picture, the MLS is the root source for all of our syndicated advertising and internet propagated exposure. Once a listing is created in the system, we insure that it reaches all of our target search engines and social media. With 80% of today’s home buyers searching first on the internet, it makes this step all the more important. Quality photography, quality listing copy, and quality delivery are the cornerstones of a successful marketing campaign. We must promote our properties in order to sell them and the formula works.
Thanks to Realtor.com for posting this article for inspiration!