You will achieve the best price by getting the most exposure. You want exposure on the MLS and the internet.
If you don't "stage" or prep your home for sale, you will get less, whether it's showings from a select few that he might bring in, or a large number of agents brought in through the mls.
You ask what the benefits to the agent might be? Maybe he is hoping to find the buyer, and make the full commission, for himself or his office. Maybe he doesn't like to work too hard..........Honestly, ..I really don't know what his motives are. Did he offer you a lower commission to try and sell it this way?
There was a company by me that used to pocket their listings for 2 weeks...to try and keep the sale in house...but the seller was offered a lower commission as an incentive to do that. I still wouldn't recommend it even with a lower commission.
What I do know is.........don't shortchange yourself................do whatever is necessary to properly and fully market your home through the MLS and all other outlets. Maybe this isn't the agent you need. Speak to another agent (or 2) and see what they propose for you. Get everything in writing.
Prudential NJ Properties
I've never understood any benefit to the seller to have a pocket listing, other than privacy issues.
I suppose the benefit to the realtor would be if he already had somebody lined up and he could get both sides of the commission.
The best way to sell a home is to attract any and all, ready willing and able buyers.
If your agent wants to do a pocket listing, that would omit around 90% of the potential buyers.
Instead of possibly having 10 offers, some good , some bad, some in between, You may get one offer and how good will that be?
Pocket Listings are usually done out of privacy or greed. Seeing as how your agent that you are thinking of using has suggested it as opposed to you I would assume greed.
While I do not know all the facts in this matter I think it would be wise to find an entirely different agent as it appears that this agent does not have your best interest at heart. Instead it appears your agent has their interest at heart.
When you do sign an agent you might consider adding to the listing agreement that there shall be no dual agency in this transaction.
You would be wise to consult a Real Estate attorney for a few hundred dollars before you sign anything and get some good advice and bring up the questions you have.
I am sure a real estate attorney will have some choice words for this situation and give you great advice.
I highly recommend finding and consulting with a real estate attorney before you sign with this agent.
I would finish the home if at all possible. Think of it this way,.. you don't try to sell a filthy car.
As for the profit you felt OK about,... Wouldn't you prefer to maximize your profits?
The benefits to him and or his office would be the entire commission as opposed to half the commission.
I wouldn't take this lightly. I would consult a real estate attorney.
So Cal Homes Realty
So Cal Homes Realty
I am familiar with the process, and have even used it successfully myself. I once had a home that the sellers wanted to put some minor finishing touches on (that wouldn't have impacted the value, or price) before they put it on the market. While we waited, I wanted to get to work. I heavily promoted it in my office as a pocket listing, and we sold it before it came on the market. The first couple that looked at it bought it for full price! My sellers were spared from having to maintain a picture perfect house, and got the price they wanted - what the house was worth.
The benefit is that it promotes exclusivity - qualified buyers can get in early & before everyone else does. It can increase your chance of getting full price with less hassle. That buyer knows that if things don't go well that you can bring it on the market and find a new buyer. Your agent knows the agents in his market & in his office, and knows who may have buyers and how to best promote his listings. This is pinpoint marketing at it's best. Reward his innovation & desire to have your house stand out by marketing it differently than every other agent. This strategy will not work with every house. By the way, by doing it this way, he actually reduces his chances of getting both sides because he can't widely expose it to attract buyers if he doesn't already have a buyer today. He is marketing it to agents who do have buyers today. Remember, he's the expert - Trust him! And.....good luck, Quincy!
Windermere Rowland Realty
This can change based on the strength of your market but giving a strong listing agent a chance to double end the property can benefit you but it can backfire if not handled properly The key to the process is that the pricing has to be better (as in quality not value) and closer to on target and not low.
If you listed you home very well at adjusted comparables, some scared buyers out there may come in and write a full price offer. In our area where multiple offers are driving people nuts, some people go back to bubble era thinking and write with the lsiting agent to "get the home". This is a dumb strategy since it means overpaying. Everytime I see a home lose with an amazing price it's usually double ended by the listing agent.
The risk of course is that the situation is not handled properly your home doesn;t sell right away and suddenly you cost yourself money and time. IN general, the better plan is to list low and drive multiple offers if you are in that sort of market.