You can find homes for sale in many ways, but the most common way is by looking at home listing databases online. Your real estate agent uses this technique, too, when finding homes to show you, but this is not the only way to find listings. You can also find them in other ways, including asking your agent about pocket listings. Do you know what these are? If not, here are three things to understand about these listings.
What They Are
The first thing to understand is what a pocket listing is in real estate. A pocket listing is a home for sale that you will not find advertised anywhere. In fact, the home is not actually listed for sale. Instead, the homeowner secretly tells an agent that they want to sell the home, but they do not want the listing advertised. Therefore, pocket listings are secret home listings. Only one agent might know about the listing, as it is a secret.
Why Sellers Choose to Use Pocket Listings
Now that you understand what pocket listings are, you probably have questions about them. For example, why would a person want to list a house through a pocket listing? You might think that it would be difficult to find a buyer for the house if no one knows it exists. There are several reasons that homeowners choose these listings. First, they might be famous people who do not want the entire world to inquire about their homes. Secondly, some people choose pocket listings to test the water. They see if they get any bites by keeping the listing a secret. If they get an offer that is higher than they expected, they might decide to go through with the sale.
How to Find Them
You can ask your real estate agent about pocket listings if you are interested in finding more homes for sale in your area. If your agent does not know about any, they will probably ask around. Other agents might reveal some pocket listings to your agent, and your agent can tell you about them. If you would like to see these homes, your agent can schedule tours for them.
Are you interested in buying a house? If you start looking and cannot find one you like, you might want to pursue pocket listings. A real estate agent can assist you with this task, so contact one today to get started.