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Who Benefits from Pocket Listings?

Posted by Sami Thalji | Aug 12, 2021 | 0 Comments

A "Pocket Listing" occurs when a real estate agent markets a home within his realtor network, attempting to get a contract, prior to actually listing it for the public on the MLS. Real Estate agents do this in an attempt to corner markets and to try and control both the listing and buyer's commission, which would double their overall commission. In 2019 the National Association of Realtors passed a rule prohibiting this practice, but of course loopholes continue to be exploited and this practice is common. One of main problems with the real estate industry is the lack of any real standards to becoming an agent. Anyone can get a license with minimal work and because the rules don't establish any real standards of conduct on behalf of the agent it seems that a very large number of agents handle listings in ways that benefit them more than their clients. In most instances, if a listing doesn't go on the MLS then how can the homeowner know they are truly getting the best offer on the property? Pocket Listings may be acceptable in limited situations, such as the listing of a high end home where the pool of buyers is limited, but for your average homeowner trying to sell it isn't a good strategy to getting top dollar. At Florida Consumer Lawyers our lawyers are also licensed realtors and handle the listing and sale of properties as one of our many services. Our lawyers prioritize transparency and guidance for our clients and the client's best interest is what drives us. Not to mention that we are cheaper than you average realtor while brining decades of actual contracts and real estate law experience to the table. If you're in the market for listing your home you need to ask the right questions and not get lost in realtor listing presentations that focus on BS, like "social media presence" and "advertising."  

About the Author

Sami Thalji

Sami Thalji is a native Floridian, born in Clearwater and raised in St. Petersburg, Florida. Sami graduated from Osceola High School in Seminole, Florida before attending and receiving both his Bachelor of Science and Juris Doctor from the University of Florida in Ga...

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