Pocket Listings, Quiet Listings: Is there a difference?
pocket listings = quiet listings
I’ve seen a lot of talk about pocket listings on several real estate sites recently. In fact, some of my most trusted resources for industry news have discussed them, including REALTOR Magazine and KCM Blog.
According to the article on REALTOR Magazine, most agents define pocket listings as those not listed on the MLS. Here in Atlanta agents often refer to them as quiet listings. While the National Association of REALTORS has not defined pocket listings, they do not have an official policy on the practice either.
Luckily at Atlanta Fine Homes Sotheby’s International Realty, we do have a company policy that discourages quiet listings. When I think about the work that most sellers put into their home in order to sell, I don’t want any of that effort to go to waste. Optimally pricing the property and listing it with metro Atlanta’s First Multiple Listing Service will get my sellers the best exposure and results.
I will say that in areas of Atlanta with low inventory right now some listings are receiving showings prior to being listed in FMLS. As a company, we have weekly sales meetings where agents discuss upcoming new listings and some of those announced may strike a chord with another agent who has been on the hunt with their buyers. While showings can be scheduled prior to listing, these properties are still entered in FMLS.