Pocket Listings What Are They and How Do The Help Sellers.

Come see this new Listing at 1155 S Grand.  Recently added to the MLS this Property is Located in Downtown Los Angeles.

“Pocket listing” is slang for a property listing that is not listed on the open market.  Sometimes, a listing is merely referred to as a “pocket listing” in the short time between when it is secured by the sellers’ agent and the time it appears on the MLS. A listing can sell before the broker completes MLS paperwork, which would mean the listing sold to someone who knew about the listing outside of the MLS, be it to a friend of the seller, a buyer known by the listing agent, or a colleague of the listing agent. Sometimes, this happens with an offer made during a “prelisting” period. Another reason for a pocket listing  is when homeowners may seek to sell their home privately, or just gauge its market value before the public listing. They might ask that their agent refrain from listing the property on the MLS to keep news of the sale quiet. In this case, sellers are selecting a pocket listing more as a marketing choice than anything else.   If you are interested in a list of such properties fill out The online form.