John  Cordeira, John Cordeira (Cordeira Homes)

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Rainmaker
611,266
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

If you have something for sale, in order to get the best price, it can't be a secret.

With more exposure a seller will get more interested buyers and therfore more than likely a higher price.

The only advantage is to the agent who may keep all the commission instead of sharing it...

Eve

May 05, 2018 02:42 PM
Rainer
9,723
John Cordeira
Cordeira Homes - Massapequa Park, NY
John Cordeira

What I don’t like is when other brokerages push through private inventory to websites like Zillow, trulia etc and not MLS. Their intention is to put both sides in their pocket... Meanwhile seller signed paperwork stating agent works for sellers best interest.

May 05, 2018 03:40 PM
Rainmaker
849,960
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Mostly cons. Wastes people's time. I potential buyer called about house with sign, and " Appointment only" rider. It's not in the MLS and not on agents website, zillow, etc. Called potentional buyer back and they said to just forget it and not to bother calling *#%&!..... agent. If agents make it so other agents and potential buyers can't even find the list price in order to decide if it's in their price range, it adds a negative tone to the process. They don't want to call and here the agent feed them the bs bait and switch line that if this house is out of their price range, that they have others and can help them find another home, etc, etc.

May 05, 2018 02:55 PM
Rainmaker
4,123,161
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Less exposure of the property to the markets... might might less traffic, lower sale price.

May 05, 2018 02:51 PM
Rainmaker
1,723,705
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

I think the seller is abused by not putting it in the MLS to an open market system. LA's are too ego centric & think they can sell everything themselves not for the highest price market might bear.

May 06, 2018 05:31 AM
Rainmaker
684,915
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I think getting the exposure of being on MLS beats any benefit of being a pocket listing. Having said that sometimes there are reasons the seller doesn't want it on MLS; I've had a few sellers say "I need some time to get the house ready, til I'm ready to put it on MLS you can show it to anyone you have." As a side benefit the Listing Agent should know the house best and be able to sell it best!

May 05, 2018 04:04 PM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I don't like it. I believe ethics dictates that we get the best offer for our sellers and not one that we limit or try to just sell ourselves.

May 05, 2018 03:44 PM
Rainmaker
6,614,017
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No benefits and you may be in violation of your MLS rules.

May 05, 2018 02:45 PM
Rainmaker
895,685
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Pros:
Only known qualified buyers will be exposed to the property.
Confidentiality can be maintained.
Security can be maintained for a property with lots of valuables.
Problem neighbors will not know.
Competitors, in the case of a commercial property, will not be able to speculate about the health of a business occupying the property.
Inexperienced or known problem agents will not have access to the property.

Cons:
Lack of exposure and a dramatic reduction of the buyer pool.

May 06, 2018 03:28 PM
Ambassador
4,259,392
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Why not go for the gusto?! MLS and other agents, multiple Offers...higher sales price...the list goes on and on. I wouldn't want to do it for reasons of liability first & foremost but, more money is surely a motivator!

May 05, 2018 11:50 PM
Rainmaker
2,642,412
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This subject has been pulled like taffy rightfully so. The bottom line? No one gets paid until it sells & sell it must. How many people divvy the pie is the issue and of course when we get to eat that pie too. John, the Real Estate cat can be skinned many ways. Its all that screeching that bothers

May 05, 2018 03:48 PM
Ambassador
2,571,547
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Tbe only pro is to the listing office, who is trying to keep the entire commission.   The con to the Seller is no exposure, no marketing, less showings, and probably a lower sales price.

May 05, 2018 03:16 PM
Rainmaker
1,901,461
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

It's not allowed in our MLS @John Cordeira.

May 05, 2018 02:59 PM
Ambassador
5,414,363
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Less visitors, less exposure, less money.

 

May 05, 2018 08:45 PM
Rainmaker
1,926,309
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Not allowed in our area's MLS.

May 05, 2018 07:24 PM
Rainmaker
1,232,877
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Con                                                                            /            Pro

It's a transactional move on the agents part   /            none

 

May 05, 2018 04:54 PM
Rainmaker
1,525,305
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

The only pros are for the agent and the cons are that the seller is not getting much exposure.

May 05, 2018 04:04 PM
Rainmaker
529,571
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Our MLS does not allow it.  But from my perspective, the only pro would be for the listing agent.  And that seems selfish.  When I list a house I want every agent out there to help me get the house sold.  That's what MLS is all about.  IMHO

May 05, 2018 03:49 PM
Rainmaker
4,103,654
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Advantages and disadvantages for who? Or is it whom? Sometimes grammar is an even bigger mystery than real estate. I digress. 

May 05, 2018 03:03 PM
Ambassador
3,058,322
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am with Mike & Eve Alexander on this one.  I do know there are exceptions to this ... it is not a blanket statement. 

May 05, 2018 05:47 PM
Ambassador
4,582,611
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I can't think of any pros. The cons are less exposure to the open market, and likely less traffic and perhaps a lower price. How does that help the seller?

May 05, 2018 05:19 PM
Rainmaker
5,571,934
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

a pocket listing is not marketed.....it's not in mls.... there's no cooperation with other agents..... 

May 05, 2018 05:14 PM
Rainmaker
1,519,451
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Only if they want to make the sale private or not really ready to sell ( kind of, if you bring me the offer of this much, i might sell it.)

May 06, 2018 10:47 PM
Rainmaker
911,536
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Off MLS properties will not get as much exposure and will often sell for less. Of course, there are exceptions for different types of properties and different sellers in different circumstances. My client are not so special that they demand the anonymity, privacy and special attention needed by some clients and in some markets.

May 06, 2018 08:39 PM
Rainmaker
54,790
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

There are a few agents here who claim to "specialize" in luxury pocket listings.  They claim they do it to protect their client's anonymity (athletes and celebrities) and prevent potential criminals from seeing their property on MLS - However, this falls apart when you click further on the section of "pocket listings," and see pictures and addresses of all the homes in their pocket.  It is really a way for them to get both sides of the deal...I ask - how is that working in their client's best interest.  No competition = seller looses.

May 06, 2018 08:00 AM
Rainmaker
4,799,501
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Limited pool of buyers will know of this listing.

May 06, 2018 06:12 AM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Richie Alan Naggar nailed this one!

May 06, 2018 05:39 AM
Rainmaker
4,215,125
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

con - lack of exposure

pro - privacy

May 06, 2018 05:25 AM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Can’t think of pros.

May 06, 2018 03:38 AM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John Cordeira - PROS - no hassle of staging etc.

CONS - no exposure to the market so one needs to go by what the seller wants.

May 05, 2018 11:01 PM
Rainmaker
5,591,920
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John,

Before condemnation of private listings that are not on the MLS, there are instances where that happens especially in the luxury market.  High net worth individuals value their privacy and their assets.  They don't want their Van Gogh on line for everyone to see hanging above their living room couch.  They do not want anyone to know where their kids bedroom is in case of being kidnapped.  Many agents that are true luxury experts network and share with each other these listings.  

When it comes to exposure, you should kinow that if you have a property listed at 100 million plus, the pool of global billionaires who can afford this property is at last count over 2500 people.  In the US, we have 500. So the exposure does not need to be on the MLS, let alone on line.  

Now if the pocket listing is $200,000, it needs wide exposure.  There is a bigger pool that can afford that price,  But again, the sellers may have their reasons.  A friend of our is a character actor in Hollywood.  He had a nice home, and did not want it exposed on the MLS.  He was very worried about his security as well as his two young boys...A

May 05, 2018 09:03 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

A secret listing is harder to sell and get the best price for the seller. If the seller truly wants to sell and do it quickly, every avenue must be used. It needs to be public. Keeping it private tells me the seller isn't serious.

May 05, 2018 06:45 PM
Rainmaker
514,124
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

The only pro I can think of is that their agent will control the sale from start to finish. The con's are many, like not receiving full market exposure, that leads to stronger more competitive offers.  

May 07, 2018 12:13 AM
Rainer
87,820
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Fast sale, if working with me. 

May 06, 2018 11:30 PM
Rainmaker
365,454
Jay McHugh
SendOutCards-Appreciation Marketing Expert - Acton, MA
YOUR SendOutCard Mentor

Pros:  Anonymity 

 

Cons:  the language you just used...  Pocket Listing is so amateur.....

May 06, 2018 10:50 AM
Rainmaker
2,062,534
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Question was answered with great answers.

Nov 01, 2018 05:02 PM
Rainmaker
1,596,606
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Great answers, I agree.

Nov 01, 2018 04:48 PM
Rainmaker
4,944,871
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

If you do not offer a co-broke here in Denver, you cannot enter it into MLS.

May 09, 2018 03:37 PM
Rainmaker
187,033
Erika Rae Albert, Austin Real Estate Expert
E*Rae Realty - Austin, TX
Exceeding Expectations in Every Transaction

Pros- you're not racking up days on MLS, no nosy neighbors, you can test the market at a higher listing price

Cons- less exposure

May 07, 2018 06:16 AM