Here is the thing: most of us belong to different professional organizations, where we meet other Realtors. Also, we attend our office meetings and we are the first to know about our colleagues listings before going to the MLS.
If it happens to have a perfect match and the seller will be happy with the price offered without going to the MLS, then it's great and everybody is happy. However, in this market, several different agents and their clients might be alerted by a pocket listing and I have seen multiple offers on pocket listings as well.
While there are plenty of properties changing hands off MLS, a lot of sellers still like to take their chance to the market and feel that they are going to miss some additional opportunities if they don't.
But working with a Realtor you will have an insight into the pocket listings market as well.
Alina Aeby-Broker Associate
Pacific Union International
LEOPOLD A RODRIGUEZ
Real Estate Broker 00849905
Attorney at Law
400 Montgomery 505
San Francisco CA 94104
This post was so long ago that my advice probably doesn't matter to much to you anymore but others may see it. There is a company that I've found that assists with this...Privy Property. Give them a try.
The foreign agents have great points. An agent working on your behalf will reach out to the brokerage community as well as contact all owners of properties you are interested in buying.
I'd be happy to provide my real estate service.
Sotheby's International Realty
Ask your REALTOR if they participate in the "First Look" plan, a network of real estate professionals who leverage the 'Second' of four invisible markets.
Buyers who are accepted into this program must demonstrate they are serious about buying a home, AND willing to pay MARKET VALUE. Sorry,,,,if you just looking, you won't be accepted. If you are a lowballer, sorry...not for you. If you submit a lowball, you will get booted. This plan is for those who are serious, ready to buy and able to buy.
If you trolling Trullia or Zillow for homes.....that's red flan #1 you are not a serious buyer.
Again, the benefit of FIRST LOOK is for serious buyers only. And yes, you willl see the home before anyone else. The process is extremely convenient and low stress. Ever wonder how the good home are sold in less that one day? They were sold BEFORE they were entered into the MLS.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
You have received some excellend information about "pocket listings" but the most essential thing to remember is that these are arrangements in which there is really no firm commitment on the part of the seller to sell their property.....there is no listing contract in place and therefore no obligation on the part of the owner to sell, "at any terms." Thus, you could be chasing your tail with these offerings.
Our site allows you to search for pockets anywhere. Word of mouth is not going to work very good. Over exposure but with total privacy for our clients of all sorts not just celebrities and athletes and media executives is the key.
Typically, it's a seller who isn't committed to selling. "If you found me a buyer at my price, I'd sell," they'll tell an agent. Great. Sometimes, they're telling handfuls or fistfuls or bucketfuls of agents all the same thing. What these sellers are actually thinking, I don't know.
Sometimes, though, an agent can pique a buyer's interest in an unlisted property, and try to put a deal together.
- Is the issue that the selling agents want to get both ends of the commission?
No, the issue is that the agent who knows about the seller wants to get some part of the commission. If the seller tells me, and I tell your agent, I'm left out in the cold.
Pocket listings are typically sold via networking in the real estate community. I highly recommend working with an agent. Many buyers assume that if they find the listing agent that they will automatically have an in in getting their offer accepted. This does happen some, but many agents are not comfortable with and often sellers are not happy with, agents double ending.
Hope that helps!
Alain Pinel Realtors
An active, connected agent can find these for you, and it's not a good idea to use the listing agent as your rep - you need your own.
As a member of the top agent network I see off market stuff in south beach all the time. If you want to talk my contact info is below:
Lance King/Owner-Managing Broker