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Pocket Listing

by Ron and Susan

 

What is a “Pocket Listing”?

         In real estate, a seller who wants to sell their home will usually contact and hire an agent, the listing agent, to list and market to the home to the general market – normally through the Multiple Listing Service (MLS).  Once a home is entered in the MLS, many real estate websites will pick-up and showcase those listings as well making a home visible to a very large number of potential buyers.

     A pocket listing is very different.  These listings are not technically “on the market”.  They are not entered into the MLS, but marketed independently and directly by the seller’s agent or broker, who has complete control over the listing, thus keeping the listing in their “pocket.”   Their advertising, if any, is normally very local in nature, and therefore the amount of exposure is limited.

 

Pros

Pocket listings are only permitted if the seller expressly agrees to it.  Those that are pro-pocket listings argue that they enable privacy.  Additionally, some sellers use them to “test the water” if they aren’t 100 percent serious about selling.

Cons

Some real estate professionals argue that pocket listings are harming the market by skewing the overall market image, limiting exposure, and making it harder to browse comparable homes and prices. Others are frustrated that pocket listings enable the listing agents to take in the full commission.

 

     We don’t think pocket listings are in the best interest of a seller.  There is the potential for a seller to receive less than market value if a deal is made since a listing agent may be interested in a higher commission rather than considering the best strategy for their clients.  A seller is better served if they expose their home to as many potential buyers as possible, thereby increasing the chances of receiving a top-dollar offer.  Additionally, with all of the marketing tools available to real estate professionals, why not utilize them all to your advantage?!

 

 

Real Estate Bloopers

by Ron Kowalski

     

     When listing a home for sale, it is important to use images and words in your marketing materials that accurately describe the property so that potential buyers are excited about going to view it – and hopefully make an offer.  The proper spelling of descriptive words is imperative.  One small typo can change the entire meaning of your message and confuse a potential buyer.  But, they can also be quite funny.  So, here are some that I have come across in my 10+ years in the business:

 

Large panty in kitchen (pantry)

Just lusted (listed)

Fresh pain throughout (paint)

Heated poo in back yard (pool)

Backs to tree (trees)

Custom inferior paint (interior)

Large walking closet (walk-in)

Stainless steal appliances (steel)

Remolded bathrooms (remodeled)

Ceiling fangs in all bedrooms (fans)

 

     Yes, these are funny.  But a poorly worded real estate ad, one filled with grammatical errors or typos – whether they’re funny or not – does reflect poorly on your home and on your agent’s professionalism.  Be sure to spell-check all ads, listings, brochures and flyers to ensure they are accurate.

     Even worse than typos, though, are bad photos.  The listing of your property needs plenty of professional photos.  Without them, potential buyers will simply click to another property.  If you fill your listing with dark, unappealing photos – perhaps a shot of a cluttered kitchen counter or a master bedroom shot that makes the room appear smaller than it actually is – you’ll be hurting your chances to make a sale.  Perhaps not so funny, but the photos here are examples of what not to do.

     If you’re shopping real estate professionals to represent you in the sale of your home, make sure to take a long look at their listings. Search for any obvious typos – and look for stunning photos. You’ll need your home to look its best – both in person and in the listings advertising it – if you want to attract offers in today’s challenging home-selling market.

 

If you have any others funny real estate typos or photos, please feel free to post below!

 

 

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