What is a Pocket Listing, Exactly?

Pocket listings are exclusive listings. This type of listing is very private and terms are stated in the listing agreement with the real estate agent. We know that it might sound strange that someone would want to keep their sale private, but it's pretty common. Once you know about pocket listings, it's like finding out about your favorite vintner's private select, the butcher's special cuts, or the secret cheese from your cheesemonger. (Seriously, ask for the secret cheese. You won't be disappointed.)

In fact, privacy is usually the driving force behind why a seller would request a pocket listing. They may be going through a divorce or other legal proceeding and a for-sale sign out in front of their house might out them and their troubles. Many high-profile individuals use this listing type to avoid media attention. It also keeps the non-serious lookey-loo buyers away. Sometimes, a seller might just want to test the water and see if buyers would be interested in their home at the price they are hoping for.

When we get a request for a pocket listing, we do the same due diligence that we do for any other listing, plus a little more, and a little less. Of course, we take photos and write a description, but we also go over the seller's concerns very carefully, after all, they are in control. As a seller, you have your own specific terms, choosing when, to whom and at what price you want to sell. Sellers are usually not in a hurry. We do not market the property. It's not listed in the MLS and we don't advertise it. It doesn't go out in our newsletters, on door hangers, or on social media. In fact, it's not even on our public website.

As a buyer, the largest advantage to pocket listings is the possibility of getting a good deal. There's less competition, so a lower chance of a bidding war. Also, if you are interested in a particular neighborhood or small part of town, there's a good possibility that something is secretly for sale. Pocket listings also offer a more flexible sales process. You may be able to get a later closing date, ask for certain appliances or pieces of furniture, or negotiate the process in some other way.

So, how do you find a pocket listing? You have to ask. We always have a handful of pocket listings in our inventory. For example, say you come to us looking for a 3 bedroom on the Venice Canals. If we don't have a pocket listing that meets your criteria, we are going to search the MLS, then we are going to call our network of fellow realtors to see if they have your dream home in their pocket listing inventory. We have deep ties in the industry in Los Angeles and we love working with our colleagues to get you the home you want.

Pocket listings have some unique advantages for both buyers and sellers. If you are looking for something specific as a buyer or if you are a seller who wants to keep the sale of your home quiet, ask us for help. We are here for you.