Friday, May 15, 2015

Pocket Listings are not smart for the Seller

Many sellers and also their agents when they are hired by such a seller are not very smart when they agree to make a pocket listing. Both the seller and their agent will leave good money on the table.

The reason for this is that the pocket listings are not marketed to the biggest possible audience because it is a pocket listing. The nature of a pocket listing is that it sits in the pocket of the seller or the agent and only a hand selected buyer audience will have the chance to make an offer. 

On the other hand the members of this ‘elite’ crowd may not include that potential buyer with the deep pockets that the seller is hoping for or need to get out of his/her property. The buyer with the deep pockets is often outside this crowd and the seller will not get to this buyer because this buyer does not know that the seller wanted to sell his/her property. That is not a good position for the seller.

Therefore Mr. Seller you should think twice what is better for you – Make a pocket listing and get a lower price from a limited buyer audience or publish your listing with an broker on the MLS and get a higher sale price and a potential higher gain from your sale because your property is seen by a much bigger buyer crowd with deeper pocket?

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