Buying A Home
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Are pocket listings unethical?

Have no clue about them.. just wondering...
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Re: Are pocket listings unethical?

  • Why would they be?
  • No, it's something the seller chooses to do. I think they're mostly for sellers who want to protect their privacy.
  • I dont' see why they would be.  All it really does is limit the sellers exposure to possible buyers.  If that's what they want, for whatever reasons, that's their call to make.  Their house = their call.
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  • I don't think there is anything unethical about them. But if I were a seller I wouldn't do one-most people search MLS when looking for homes, so you are really going to get a smaller pool of potentials. I'm guessing you wouldn't sell the house as quickly.
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  • Why would it be unethical?  If the seller wants it that way, then so be it.  The only unethical thing would be was if the listing broker did it that way without the sellers consent.

     

  • My parents live in a high end neighborhood and many of the homes sold are pocket listings.  Some of the people are very well known and/or have a large net worth (think professional athletes, CEOs of major corporations, etc.) and do not want their private spaces out there for just anyone to see. 
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  • Not at all. It is what the buyer wants due to exclusivity/privacy/timing issues. I think you'd only find it unfair/unethical if you were a buyer who loved a home and had stalked it for years, only to see it come on the market already sold because a realtor made someone else aware of the listing and presented it to a qualified buyer. Just one more reason to use a good realtor with connections, so you can benefit from their knowledge and relationships.

    Most of the time it is with higher end (multimillion dollar) listings where the buyer pool is lower, so you are a lot less concerned with your home being aggressively marketed because you know that you are only interested in serious prequalified buyers who have made their needs known through word of mouth.

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