The Real Reasons Some Realtors Promote Pocket Listings

Last week I posted on how the seriously flawed pocket listing concept continues to be pushed by certain realtors and Web sites. It should be clear from that post and an earlier one what the issues are with this real estate strategy. So the obvious question then is why do these realtors continue to push this approach?
The answer is actually scattered around that Top Agent Network Web site. For instance if you check out their FAQ page:

4 out of 5 members report that TAN helped them make additional sales, acquire new clients or impress existing clients. Plus, TAN is for more than just networking. TAN marketing materials and public directory demonstrate your top tier status in listing and buyer presentations; clients love knowing that you are “dialed in”

And there are actually several other references on the site to helping agents get listings, such as a video where the founder and CEO says in no uncertain terms that it’s all about attracting new clients.
So basically being able to tell prospective clients that you are a member of an exclusive group, that you are “dialed in”, and that you can sell their home on a double secret exchange sounds really good to the unsophisticated seller on the surface. And that helps the realtor do what is really the hardest part of his or her job – get the listing.
I know for a fact that some realtors are trying to play this angle because I’ve had several prospective clients bring up their conversations with these agents on this topic. My response is simply to explain that I would be happy to put their home on this mini-MLS system in advance of the real listing but I have to advise them that it’s actually a really terrible idea.
#RealEstate #PocketListings #NotOnMLS
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