You may have heard (but more likely you haven’t heard) the term “pocket listing.” Anyway, a pocket listing, although not all that common, is another tool you and your agent have in your toolbox to sell or buy a house. While pocket listings are more common for higher-end homes in Richardson Tx , they can work for other homes and buyers / sellers effectively. There are advantages to using pocket listings, to be sure, but there are also certain disadvantages. So let’s take a look to get an understanding of Richardson Tx pocket listings.
What is a Pocket Listing?
Here’s the short version: a pocket listing is a property offered for sale but not listed in any Multiple Listing Service (MLS) purposefully. So the agent and the seller keep the listing metaphorically speaking “in their pocket.” Thus, pocket listings in Richardson Tx are a private sales species that are deliberately not made public, typically for various reasons of privacy. Both sellers and buyers use pocket listings often for personal reasons
Pros of Pocket Listings
The pros of pocket listings in Richardson Tx include:
This is prevented by the privacy provided by the pocket listings. It also keeps all those mere tire kickers and people curious to travel through your home and waste your time. Purchasers interested in listing pockets are usually pre-approved and serious.
Pocket listings are also a good way for sellers to test the market to see what buyers are willing to pay, and a good way for buyers to see what sellers are going to accept. This is a good way to avoid having to lower the price later before listing on the MLS.
AVOIDS LANGUISHING ON THE MLS
One of the worst seller scenarios is the one in which their house has long been unsold on the market – because buyers are going to assume that something is wrong with the property. “Listing a private property is an attractive option to avoid the public eye’s gaze and protect the property from the stigma that can develop if it stays longer than the market average on the MLS.”
AN OPTION FOR FENCE SITTERS
Many people are not really interested in buying or selling a house, but if the price is right, they will consider it. In this situation, pocket listings in Richardson Tx may be the perfect vehicle. For instance, if an agent can find a motivated buyer looking for a house like yours, that means an easy transaction without listing and showing the trouble.