Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island. Pocket listings are a hot topic nowadays in SW Florida. Nationwide, the use of pocket listings is on the rise and for good reason – with house prices rising, many homeowners are willing to “test the waters” and see if they can sell their home for a decent price while maintaining much of their privacy.
What is a “pocket listing” you ask? It’s when a seller and real estate agent sign a listing agreement that permits the agent to place the property for sale without adding the information into the MLS. We’ll take a look at the benefits and the negatives of selling your SW Florida home via a pocket listing.
The Upside: Greater Privacy
One of the biggest benefits of a pocket listing is that it can offer sellers greater convenience, flexibility and privacy then a conventional listing. By keeping their home off the MLS (and not placing a lawn sign in front of their property) the general public is not alerted to the fact that their SW Florida home is for sale. This means not having to deal with open houses and unannounced showings. Another added benefit is that it provides the seller with additional time to perform repairs and resolve any concerns they may have before committing to a sale. Because of the no fuss style in which a pocket listing is offered many people look at it as a way to maintain their privacy while being able to test how the maximum amount they would fetch for the sale of their home.
The Down Side of Pocket Listings
The biggest drawback to home sellers when offering a pocket listing is that it will drastically reduce the exposure of your SW Florida home. Other real estate agents and the public will not know that your home is for sale and for that reason it will fall under the radar of most potential home buyers. This can mean a significantly reduced sales price in markets where prices are generally rising and supply limited as this will limit the likelihood of receiving multiple offers (and possibly a bidding war) on your home.
Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island. If you’re thinking of selling your home and aren’t sure if a pocket listing is right for you, give me a call and we can discuss your options.