The Boston luxurymcondo market in 2018 is continuing its upswing, sellers and the listing agents they hire are trending toward a new strategy: pocket listings. This is a listing that does not get advertised or put into the Multiple Listing Service, and is only marketed to agents in a quiet way. Pocket listing properties are only typically shown by appointment, and there are no open houses or broker tours. The benefit to the seller is usually a reduced broker fee as there ususally is no co-broke invloved.
Pocket listings is a great way to test the waters in a non-public way. If the property doesn’t sell at the seller’s desired price, well, the public never knew about it, and the seller can evaluate whether to move ahead with a regular marketing plan—at a potentially reduced price.
Pocket listings may also be a good opportunity for the buyer who writes an offer that may be less than the seller wants. The seller may initially reject the offer, but could come back to the buyer later, and a mutually acceptable price and terms may be worked out.
Updated: 1st Quarter 2018