Lily got into the pocket-listing conversation yesterday. Note how cagey agents are about their own position of right or wrong. They want to leave the door open in case they have another shot at doing a round-tripper off the grid – the commission is more powerful than ethics for most:
An excerpt:
Benefits may include quick, private sales without intrusive open houses and wading through multiple buyers’ offers. On the flip side, pocket listings could result in sellers missing out on the best prices and depriving the wider pool of potential buyers of more for-sale supply.
Wading through multiple offers – the agony!
This practice is a sexy option that is unconsciously promoted within the MLS system – agents see others doing it, and want to get in on the big-commission action too!
Did you catch Yunnie’s comment on the last NAR video? He danced around it at the 3-minute mark by saying it is the sellers that don’t want expose their property – yeah, right! Another ideal time for NAR to take the lead in educating realtors and the public, and one more whiff.
Could a Seller who found out their property was a pocket listing sue the Listing Agent for the difference between the price sold to the appraised value?