Saturday Morning Coffee | 8/17/13

Pocket Listings, Pre-MLS, & Ethics… Oh My!

I’ve been a huge fan of the work by 1000Watt Consulting. Marc, Brian, Joel and the gang do a great job dissecting issues affecting the brand of real estate agent. They also consult for some pretty major brands within the real estate space. Of course, this leads them to have some pretty weighty, thought provoking, discussions.

This article on pocket listings is no different. From the opening of the article:

Your agent has a pocket listing or a “coming soon” listing. They decide to start marketing that property on facebook. Or on their own website. Taking what was once a private conversation to the public domain.

Agents believe this is simply a marketing play. MLSs, brokers and associations disagree. They believe the minute an agent triggers a public marketing campaign, the property must fall into a process built to preserve the sanctity of the real estate profession.

A growing number of agents disagree. They continue to aggressively add more and more homes to an increasing number of public websites focused on coming soon listings, despite the legal and ethical concerns they should be beholden to.

Unspoken in this quote is, at least I assume, the thought the listing agent is attempting to drum up a buyer for this home before it hits the open and active market. Let me be clear, selling a home, prior to becoming active on the market, in this case, the MLS, does not allow the market to set the price. There is a strong potential that the home may be sold for less than the market would have paid.

What do you think of pre-MLS marketing?

Your Monthly Dose of AWWWWW…

Fluffy kitten pawing at air. (yes, I just posted a cat video).

Leave a reply

1212 Woodlawn Ct, Wolverine Lake, MI | Lake Community Living
1212 Woodlawn Ct, Wolverine Lake, MI 48390 Search Wolverine Lake Homes » [more]
SOLD | 2001 Marble Ct, Commerce, MI | Expansive Ranch on an Acre
2001 Marble Ct, Commerce, MI Search Commerce Township Homes » MLS: 3258 [more]

Todd Waller | Ann Arbor Real Estate | Berkshire Hathaway HomeServices Snyder & Company, Realtors

todd waller | real estate | todd @ toddwaller.com | 734.564.7465

Homes of Ann Arbor

BeforeYouBuyAnnArbor.com

BeforeYouSellAnnArbor.com

©2018 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.

copyright ©2018 | todd waller | sitemap | privacy policy

Todd Waller Real Estate
Local Business: Todd Waller
Description: Todd Waller, a self described "destroyer of the real estate fortress of suckitude," focuses on helping sellers and buyers in Ann Arbor, Canton, Livonia, Northville, Novi, South Lyon, Plymouth, and Ypsilanti
Website:
Location: 2655 Plymouth Road Ann Arbor MI 48105
Email:
Phone: 734.564.7465