Secret 'Pocket Listings' Return In Hot Housing Markets

With the housing market back in circuit, the sales practice of ‘pocket listings’ has re-emerged. Unlike the usual MLS homes that are posted, pocket listings are properties that are only shown to serious buyers who are likely to have cash on the spot. Pocket listings are popular with high-end sellers who do not want a ton of people coming to their home. Due to the current surplus of buyers versus sellers, moderately-priced homes are now being used for pocket listings. Sometimes pocket listings are frowned upon as agents try to use them as acting as an agent for both the buyer and the seller. Read the full article here: http://money.cnn.com/2013/05/02/real_estate/pocket-listings/index.html