In real estate, a pocket listing is a property for sale that is not marketed or advertised to the public and is withheld from the multiple listing service and other consumer real estate websites. The realtor or real estate agent with the pocket listing may inform a select group of clients or brokers about the property’s availability at his or her sole discretion.
Since terms of a pocket listing are not made public it is hard to know how many properties are sold in this fashion. It is estimated between 1-3% of real estate sales are pocket listings depending on the type of real estate market and area.
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
