An agent goes into a listing presentation with a seller.  I’d say a competitive listing opportunity, but all listing opportunities are competitive.  Anyway, an agent goes into a presentation with a seller and they ask,

Seller: “Jack and Jill from (fill your brokerage name of choice here) said their company offers an exclusive, premier, private exclusive (choose your acronym here) listing option – and you say your company doesn’t, why would I choose you and your company?” 

Agent: “Mr. Seller I’m glad you brought that up.  I believe pocket listings can play an important role when a seller needs anonymity, or for personal reasons doesn’t want the neighbors to know they are selling.  Sometimes it’s so hard for a seller to prepare their home that they just ask, make my home sold.’   In these specific scenarios, it’s helpful to assure a seller that we can sell your home however you choose.  Let me ask you if I may, who do you think it benefits to have these public portals show pocket listings?”

Seller: “Well, the seller, I guess.  For all the reasons you listed”

Agent: “Mr. Seller, if you wanted anonymity, would you want to see your pocket listing on Zillow, Redfin, Realtor and Homes.com etc.?”

Seller: “Uh, no.  No I wouldn’t.”

Agent: “Right.  So then, it doesn’t benefit the seller in that scenario does it?”

Seller: “No in fact I’d be pissed.”

Agent: “Yeah.  And do you think it’s better for the buyer to have to search multiple sites to see all the available homes for sale since these so-called pocket listings are only on certain sites?”

Seller: “No that would be a pain in the a**.”

Agent: ”Right.  And do you think it’s better for the buyer’s agent to have to search all these different sites to find a property for their client?”

Seller: “Uh, no that makes no sense.  It just makes it harder.”

Agent.  “I agree with you.  So it’s not better for the seller, and it’s not better for the buyer, and it’s not better for the buyer’s agent, then who is it better for?”

Seller: “Well I guess the seller’s agent?”

Agent: “And why’s that?”

Seller: “Well if buyer’s have to contact the agent who has the listing, they might be more likely to double side it?”

Agent: “ahhh, I agree with you.”

Seller: “But didn’t you say as my agent you are my fiduciary?”

Agent: “I did.”

Seller: “Well how can this private listing or whatever you call it, benefit me?  It seems like it ONLY BENEFITS THE LISTING AGENT!”

Agent: “You know Mr. Seller, I couldn’t agree with you more.  Now, when would you like me to put your home on the MLS so everyone can see it?”

As you can see, there is only one beneficiary to this movement towards publicly accessible pocket listings and it’s frankly predatory, but to be honest, I can’t wait to have this conversation with my next seller.

Contact Tim.