Subscribe to Answers
In my mind, it is a secret FSBO that will pay you, the Realtor, if you bring them a buyer. It can't be called a listing because there is no paperwork and it is not an MLS listing nor an Exclusive to your Brokerage Listing.
I just turned away a $3m one with the owner shouting down the drive as I was leaving to bring him a buyer !
a pocket listing is one that is very sellable and does not go into MLS.... I will openly announce that I DO NOT PUT LAND LISTINGS IN MLS.... NEVER... I DON'T CHARGE THE LAND OWNER A COMMISSION....AND I HAVE BUILDERS THAT WE FEED THOSE LAND LISTING TO... YUP, I HAVE POCKET LISTINGS AND I MAKE MONEY FROM IT.... AND I'M VERY OPEN ABOUT IT.
Hip pocket listing, hmmmm.
There is a pocket listing...I love them.
There is a listing, we all know about them.
But a HIP listing.......!!!!
High Income Property.... you keep for your A list. I'll go with that.
It's a for sale property that isn't in the MLS, but the seller has come to me to find a buyer.
BILL CHERRY If a pocket listing and a hip pocket listing are the same, it's a listing that never hits the street and sold by the listing agent without putting it in the MLS. Members of the MLS can only do this with seller approval.
Good Saturdaymorning Bill. I know a lot of real estate agents whose 50% of their business is pocket listings.
Bill - I know what a pocket listing is, but a Hip Pocket Listing? If it is different, I don't know what it is.
My definition of a pocket listing is a listing that you know you are getting or already have signed up but are keeping it out of the mls for a period of time (with the sellers authorization) while attemping to sell it "in house." The goal being to sell the property prior to mls input.