Pocket listing are a major part of the real estate industry in some cities and states. A pocket listing is a real estate listing that is not offered on the general market and cannot be found on multiple listing sites. If you see that homes are being sold or real estate is changing hands, but you cannot find homes on the market, there may be pocket listings happening. The only way to find pocket listings is to find a real estate agent who has pocket listings. Here are some ways to find out if your agent has pocket listings to offer.
Ask about former sales and clients
In speaking with your real estate agent about their experience, ask about former clients and sales. Be sure to take notes so that you can look up the real estate later. If you look up some of their recent sales and are unable to find information or if the information states that it is private, your agent may be holding private pocket listings. The next step will be finding out what types of listings they may have.
Inquire if they have anything new
Real estate agents may sometimes present pocket listings as newly listed. If you are planning to go house hunting, ask your real estate agent if they have anything new that has not been viewed by many people before. This may lead to them pulling out pocket listings that are not offered to many people. Another advantage is that they know you are looking for low-competition listings, so they may show you pocket listings as soon as they come in.
Stress that you want to close quickly
A quick closing is of benefit to buyers, sellers, and agents. If you have all of your financial ducks in a row, including a large down payment and bank approval, ask your real estate agent for motivated sellers who want to close immediately. Agents who have pocket listings will only offer them to buyers who are qualified and have a low chance of issues cropping up. A buyer who knows what they want, is willing to put in a competitive offer, and can close quickly with zero issues presents the perfect person to trust with a pocket listing. Since receiving pocket listings will depend on the real estate agent's reputation, they need to believe that you will add to their reputation as a good agent for a seller.Share