You may have heard the term “pocket listings” come up in real estate, and mistaken it for a cheeky new way to say “Zillow”. In fact, pocket listings have existed long before the era of browsing properties on our smartphones.
So what exactly is a pocket listing? It refers to a listing that’s kept off market (or, “in the pocket”, so to speak), marketed through private sources only. There are a number of reasons a person may choose to go with a pocket listing– from a seller with celebrity and high-profile clientele, to those looking to make a direct sale to a pre-decided-upon buyer– these are cases where an ultra-private listing can be hugely beneficial.
If a pocket listing feels like the right move for you, here are a few tips that you might consider, ahem, pocketing for later:
Zeroing in on your target buyer
Got a special someone on your mind? Pocket listings are the way to go when it comes to marketing directly to specific buyers. This could be anyone, from a friend, to a predetermined buyer (commonplace for specialty properties), or even a high-profile client that may prefer to go a private route when it comes to property shopping. This listing style is ideal when you want to cut out the noise, and cut right to the chase.
Keeping things under wraps
No seller likes window shoppers. Properties that qualify for pocket listing status are often unusual in some way– be it a high price tag, association with somebody or something notable, or perhaps, an architecturally unique element. These categories tend to attract onlookers and non-serious applicants. You’ll waste less time selling your property by keeping the public out of the loop.
Testing your asking price
Forget the stress of bidding wars– the price you want for your property is the price you’ll get when you go the pocket route. That is, so long as targeted clients are willing to pay it. This can be a great way to test out your asking price, avoiding the risk of price fluctuations if listing on the MLS, which can raise red flags among home buyers. If you do generate interest, you may choose to put your property on the market more publicly, now with a sense of confidence around the value and asking price of your space.
Using 3D walkthroughs for an exclusive experience
A pocket listing is the perfect opportunity to utilize a 3D walkthrough using The3DApp. Not only can you scan a property using only your smart device (a must for those selling independently), you can share your finished tour using a link, so only those whose eyes you’re looking to catch can explore your listing. 3D touring is must today for both exclusive, and high-ticket property sales, as well as everyday rental and home sale listings. Why not download The3DApp today, and try your first scan free?