Listings
What is pocket listing?
Also called: Office exclusive
A pocket listing is a property marketed privately, without being entered into the MLS, so that only the listing agent's own network sees it.
Sellers choose privacy for legitimate reasons: discretion in a public role, avoiding a public days-on-market count, or testing a price before committing. Agents sometimes prefer them because a private listing raises the chance of representing both sides.
The tension is that restricted exposure usually means fewer competing offers, which is difficult to reconcile with an agent's duty to get the best available terms. That conflict is why many markets now restrict the practice.
Rules vary by market and have tightened considerably: several MLSs now require listings to be submitted within a short window of any public marketing. Check local rules before relying on the tactic.
Related terms
A Multiple Listing Service is a regional database where member brokers publish their listings and agree in advance to compensate other members who bring a buyer, making cooperation between competing brokerages practical.
A listing agreement is the contract between a seller and a brokerage that authorises the brokerage to market the property, setting the price, duration, compensation and the extent of exclusivity.
Dual agency is when a single agent or brokerage represents both the buyer and the seller in the same transaction, creating an inherent conflict between two clients with opposing interests.
Days on market counts how long a listing has been actively for sale since it was published. It is used both as a market-health indicator and, by buyers, as a signal of negotiating room.