Pocket Listings

[djd09]

"By now pocket listings are a concept most real estate professionals are familiar with, and in some circles they have become something of a dirty word. Lower inventory has created a surge in pocket listings, especially in markets such as Northern California, where as much as 30 percent of all listings are believed to be pocket listings. However, markets across the United States are dealing with this issue more often lately as real estate recovers and demand outpaces supply. Pocket listings can be legal, but agents must proceed cautiously and consider the related risk management concerns they pose."

https://www.nar.realtor/realtor-ae-magazine/law-policy-professionalism-and-pocket-listings

Is this still legal?

 

[Randolph Kinney]

I am getting calls, still, from California about pocket listings and working a deal.

 

[djd09]

“Pocket Listings”
"Regulate yourself before the regulators/trial attorneys/legislators regulate you"

http://www.brokersinsider.com/pdf/REBI0114pocket.pdf

That is some great advice.
.

 

[Digger88]

our board rules state all listings must be put in MLS no later than 48 hours after signing agreement to list. then they came up with "coming soon" listing which seemingly defeated the previous rule.

 

[TRESinc]

any articles that are not 3-5 years old?

 

[Digger88]

any articles that are not 3-5 years old?

is your avatar from stripes? for some reason i imagine you are EXACTLY like bill from that movie, lol. just a good funny dude youd like to have a beer with!

 

[TRESinc]

yep now i have to go water the plants or they will all die...

 

[djd09]

"Discrimination includes not only denial of dwelling units but also withholding or misrepresenting
information about the available housing, steering, setting higher standards of creditworthiness for
minorities, quoting different prices, terms, or conditions for financing, insurance, or sale. Any kind of
differential treatment based upon the home seeker’s protected group is prohibited. In some instances,
actions which have a discriminatory impact or effect may also violate the law."

https://www.development.ohio.gov/files/cs/Know Your Rights - A Summary of Fair Housing Laws.pdf

 

[djd09]

for some reason i imagine you are EXACTLY like bill from that movie, lol. just a good funny dude youd like to have a beer with!

You must not read his posts. He needs to change the avatar to BrundleFly. That is a better reflection.

 

[sandpiperapp]

What they are describing are not "pocket listings". Not all listings need to go on the MLS. As a matter of fact, in many areas, individual offices keep all of their listings in house and do not expose the house through the MLS. It is not illegal. The MLS doesn't like it, but it breaks no laws. Individual MLS services may require you to file a form about an office exclusive, but they cannot "require" you to put every listing on the MLS.
A true pocket listing is when an agent in an office, gets information on a listing available for sale, whether it is an open listing, or an exclusive right to sell listing, and that agent does not make that information available to other salespeople in their own office.