Pocket Listings….What do I think?

There are times when pocket listings or “unpublished” available property has a certain logic. It is never my preference, but recognizing and accommodating owner’s circumstances is important. Consider someone thinking of moving out of the area, but still working. Sometimes it takes time to sell something truly unique, but selling after taking a new position can create a disadvantage. Regardless, there are reasons an owner would choose not to list and trying to look for a way to accommodate partially limited exposure, is occasionally necessary.

Sometimes an adjoining owner will give me a price, but would prefer not to have the traffic or attention you would normally hope to attract. Just to make something clear, I would always prefer an exclusive right of sale, full promotion and signage. Sometimes an owner would like to avoid disturbing a tenant, sometimes an owner is not in any particular rush and sometimes the “pocket listing” asking price is equivalent to saying, “If you find a buyer willing to pay….”X”, I’ll sell.”. I can think of sevreral reasons an owner might prefer to discretely offer a property to potential buyers and reasons a buyer might prefer to remain anonymous until negotiations are completed.

What do I think? I think accommodating the client is important and considering whether privacy is a benefit or handicap.

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