pocket listing


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pocket listing

A private agreement between a property owner and a broker,in which the owner agrees to pay a commission if the broker produces a buyer, but there is no listing agreement, no obligation to market the property,and no signage or advertising.

References in periodicals archive ?
In this highly competitive real estate market, the team of Rochelle Atlas Maize & Gayle Weiss, Luxury Estate Specialists at Nourmand & Associates in Beverly Hills, were successful in not only locating this private pocket listing but also orchestrating the transaction.
Before taking his life, he had placed a note in his pocket listing the names of those he alleged had received illegal funds.
A pocket listing actually is a real estate term for a kind of under-the-table deal, a deal where it's not really publicized and it's not really advertised.
In November 2013, news was out that the residence was being sold as a pocket listing and the rumored asking price was about $4 million.
To request a pocket listing, owners must sign a form stating that they don't want their homes to appear on the MLS.
New York, Mar 29 ( ANI ): Madonna has reportedly put up her French Country-style mansion, in Beverly Hills as a pocket listing with the asking price of 28 million dollars.
Providing clients with exactly what they want and with more exclusive pocket listings, Douglas Elliman is able to provide their clients with a next generation of services and in-depth knowledge of the real estate markets in both Los Angeles and New York.
Pocket listings are when real estate agents have agreements to sell a home but it does not appear in official real estate documents.
And many are reluctant to share nonexclusives, also known as pocket listings, with anyone but the most trusted colleagues, for fear the listing will be stolen.
That's because a some high-end deals are known as pocket listings in industry parlance, which means they never hit the multiple listing service and thus are not included in official sales counts, he said.
The buyer agent has a way to cut down on the time searching for properties and exposing their buyers to pocket listings and other properties that they might have missed.
All with an individual flair, providing clients with exactly what they want and with more exclusive pocket listings than most has set Jeeb and her team above the rest.