Friday, March 09, 2007

What is a Pocket Listing?

By Richard M. Johnston, RE/MAX

A Pocket Listing is commonly referred to when a real estate agent knows of a property which may be listed on the Multiple Listing Service (MLS) soon. This property may or may not be under contract.

By having a pocket listing, an agent can promote the property through his broker alerting other agents to a new listing. Please keep in mind that most MLS Boards have time limits to entering properties under contract into the MLS system.

How do you as a home-buyer profit from agents who have pocket listings?

I recommend you have a close relationship with your real estate agent. If you are a serious buyer, demonstrate your commitment to your agent by getting pre-approved and also signing a buyer-broker agreement. If a property your looking for becomes available, you'll know about this home before the general public does.

It's also possible to get a deal on pocket listings as the listing agent has not incurred the cost of advertising the home. Plus, most agents prefer to work with agents who are from the same broker.

To search the San Fernando Valley & Santa Clarita Valley for available properties, visit:http://www.estates.la/ or http://www.homes.la/ or http://www.properties.la/

To search the Westside for available properties, visit:http://www.homes.la/Westside.htm

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