If you have something for sale, in order to get the best price, it can't be a secret.

With more exposure a seller will get more interested buyers and therfore more than likely a higher price.

The only advantage is to the agent who may keep all the commission instead of sharing it...

Eve

Mostly cons. Wastes people's time. I potential buyer called about house with sign, and " Appointment only" rider. It's not in the MLS and not on agents website, zillow, etc. Called potentional buyer back and they said to just forget it and not to bother calling *#%&!..... agent. If agents make it so other agents and potential buyers can't even find the list price in order to decide if it's in their price range, it adds a negative tone to the process. They don't want to call and here the agent feed them the bs bait and switch line that if this house is out of their price range, that they have others and can help them find another home, etc, etc.

Less exposure of the property to the markets... might might less traffic, lower sale price.

I think the seller is abused by not putting it in the MLS to an open market system. LA's are too ego centric & think they can sell everything themselves not for the highest price market might bear.

I think getting the exposure of being on MLS beats any benefit of being a pocket listing. Having said that sometimes there are reasons the seller doesn't want it on MLS; I've had a few sellers say "I need some time to get the house ready, til I'm ready to put it on MLS you can show it to anyone you have." As a side benefit the Listing Agent should know the house best and be able to sell it best!

I don't like it. I believe ethics dictates that we get the best offer for our sellers and not one that we limit or try to just sell ourselves.

No benefits and you may be in violation of your MLS rules.

Pros:
Only known qualified buyers will be exposed to the property.
Confidentiality can be maintained.
Security can be maintained for a property with lots of valuables.
Problem neighbors will not know.
Competitors, in the case of a commercial property, will not be able to speculate about the health of a business occupying the property.
Inexperienced or known problem agents will not have access to the property.

Cons:
Lack of exposure and a dramatic reduction of the buyer pool.

Why not go for the gusto?! MLS and other agents, multiple Offers...higher sales price...the list goes on and on. I wouldn't want to do it for reasons of liability first & foremost but, more money is surely a motivator!

This subject has been pulled like taffy rightfully so. The bottom line? No one gets paid until it sells & sell it must. How many people divvy the pie is the issue and of course when we get to eat that pie too. John, the Real Estate cat can be skinned many ways. Its all that screeching that bothers

  Tbe only pro is to the listing office, who is trying to keep the entire commission.   The con to the Seller is no exposure, no marketing, less showings, and probably a lower sales price.

It's not allowed in our MLS @John Cordeira.

Less visitors, less exposure, less money.

Not allowed in our area's MLS.

Con                                                                            /            Pro

It's a transactional move on the agents part   /            none

The only pros are for the agent and the cons are that the seller is not getting much exposure.

Our MLS does not allow it.  But from my perspective, the only pro would be for the listing agent.  And that seems selfish.  When I list a house I want every agent out there to help me get the house sold.  That's what MLS is all about.  IMHO

Advantages and disadvantages for who? Or is it whom? Sometimes grammar is an even bigger mystery than real estate. I digress. 

I am with Mike & Eve Alexander on this one.  I do know there are exceptions to this ... it is not a blanket statement. 

I can't think of any pros. The cons are less exposure to the open market, and likely less traffic and perhaps a lower price. How does that help the seller?

a pocket listing is not marketed.....it's not in mls.... there's no cooperation with other agents..... 

Only if they want to make the sale private or not really ready to sell ( kind of, if you bring me the offer of this much, i might sell it.)

Off MLS properties will not get as much exposure and will often sell for less. Of course, there are exceptions for different types of properties and different sellers in different circumstances. My client are not so special that they demand the anonymity, privacy and special attention needed by some clients and in some markets.

There are a few agents here who claim to "specialize" in luxury pocket listings.  They claim they do it to protect their client's anonymity (athletes and celebrities) and prevent potential criminals from seeing their property on MLS - However, this falls apart when you click further on the section of "pocket listings," and see pictures and addresses of all the homes in their pocket.  It is really a way for them to get both sides of the deal...I ask - how is that working in their client's best interest.  No competition = seller looses.

Limited pool of buyers will know of this listing.

Richie Alan Naggar nailed this one!

con - lack of exposure

pro - privacy

Can’t think of pros.

John Cordeira - PROS - no hassle of staging etc.

CONS - no exposure to the market so one needs to go by what the seller wants.

John,

Before condemnation of private listings that are not on the MLS, there are instances where that happens especially in the luxury market.  High net worth individuals value their privacy and their assets.  They don't want their Van Gogh on line for everyone to see hanging above their living room couch.  They do not want anyone to know where their kids bedroom is in case of being kidnapped.  Many agents that are true luxury experts network and share with each other these listings.  

When it comes to exposure, you should kinow that if you have a property listed at 100 million plus, the pool of global billionaires who can afford this property is at last count over 2500 people.  In the US, we have 500. So the exposure does not need to be on the MLS, let alone on line.  

Now if the pocket listing is $200,000, it needs wide exposure.  There is a bigger pool that can afford that price,  But again, the sellers may have their reasons.  A friend of our is a character actor in Hollywood.  He had a nice home, and did not want it exposed on the MLS.  He was very worried about his security as well as his two young boys...A

A secret listing is harder to sell and get the best price for the seller. If the seller truly wants to sell and do it quickly, every avenue must be used. It needs to be public. Keeping it private tells me the seller isn't serious.

The only pro I can think of is that their agent will control the sale from start to finish. The con's are many, like not receiving full market exposure, that leads to stronger more competitive offers.  

Fast sale, if working with me. 

Pros:  Anonymity 

Cons:  the language you just used...  Pocket Listing is so amateur.....

Question was answered with great answers.

Great answers, I agree.

If you do not offer a co-broke here in Denver, you cannot enter it into MLS.

Pros- you're not racking up days on MLS, no nosy neighbors, you can test the market at a higher listing price

Cons- less exposure