The Enquirer’s Just Askin’ series aims to answer the questions that no one seems to have an answer for, not even Google.
An old-school real estate practice that hides home listings from public view can make some homebuyers feel left out.
It’s called a “pocket listing,” and it’s steeped in controversy for a number of reasons. Pocket listings have their pros and cons, according to realtors, and there are several reasons why sellers would go that route.
Thanks to the practice, not all houses for sale will appear on public multiple listing services websites like Zillow or Realtor.com or the Multiple Listing Service of Greater Cincinnati.
What is a pocket listing?
Pocket listings refer to homes that are not listed on the listing service. Instead, they are marketed behind the scenes by brokers who have listing agreements with the sellers. Realtors often use the term interchangeably with “delayed listing,” according to Marie Simon, vice president and sales manager of Sibcy Cline Realtors‘ Hyde Park and Metropolitan offices.
Simon put it this way: The listing service knows a buyer has the house listed, and there is a signed listing contract. But you can only market it to other buyers with agents within the brokerage.
Some people use it as a stopgap measure while they’re fixing up a house to sell, she said. In some cases, the home belonged to a person who recently died, and the family wants to have it listed privately while they fix it up to sell.
One downside to pocket listings is only…
