As TAN CEO, I follow nearly every story about the numerous ways real estate agents market properties for sale. In doing so, I find huge confusion about the differences between a property not marketed on the Multiple Listing Service (“non-MLS” or “off-MLS”) and “pocket” listings. While it’s true that all pocket listings are non-MLS, it is NOT true that all non-MLS listings are pockets.
A “Pocket” listing is a property where the listing agent avoids telling other agents about the home including keeping if off the MLS. The listing agent typically only promotes the listing directly to consumers using methods such as Craigslist, their own websites, mailers or emails. The pitch is, “Contact me if you want to know about this secret listing!” The listing agent’s goal in doing so is to generate new clients and/or to double their commission by representing both the buyer and seller in the transaction.
Pocket listings are usually a greedy agent move. They are a disservice to the seller in both solving the problems of a seller who wants to avoid the MLS and in getting him or her the best sale.
Non-MLS Properties on Top Agent Network
While the majority of properties for sale are posted by listing agents into the MLS, there are often cases where the seller chooses to avoid the MLS for privacy or other reasons. Done right, this can have many benefits to the informed seller.
See: Why Would a Seller Choose Not To Go on MLS?
On Top Agent Network, a property posted as “non-MLS” is automatically exposed to the verified top 10% producing real estates in the area. In total, these TAN member agents sell over 90% of the properties and represent over 90% of the true homebuyers in the region. So while the property is not on the MLS, is it still broadly exposed to the true market. With this method, the seller’s special non-MLS needs are solved and the chance of the listing agent “double-ending” the transaction is virtually eliminated.
Reaching the most professional agents with over 90% of the most motivated, realistic and qualified buyers often results in a higher price and smoother sale for the seller.
In short, greedy pocket listings and Non-MLS properties are NOT the same thing.