Sep 17, 2012

What is a Hip Pocket real estate listing?


A "Hip Pocket" property is Dallas Realtor lingo for a property that is for sale but is not listing in the Multiple Listing Service (MLS). The only way to know that the home is for sale is through a Realtor who is aware that it is available through their networking connections.

The recent Dallas Morning News story about this unique way to sell a home explained the concept well. Of the thousands of Dallas agents with real estate licenses, I'd be willing to bet that less than 1% are aware of any hip pocket properties for sale. To find out about them, an agent needs to constantly be in touch with other agents - not only in their brokerage but in other brokerages in the area. Membership in a networking group like Pacesetters opens the doors to a lot of this kind of information.

Remember, the knowledge that the property is for sale is tucked away in the agent's "hip pocket" and they need the know-how to spread the news about it to other agents in order to find a buyer for the property. The quickest way to sell a property for the best price is still through the MLS. But in a hot market like we have now, there are buyers looking for them and hip pocket listings are selling. [where: 75230]

4 comments:

Zummi@condo units for rent said...

This post was well written and for me it is worth reading. Real estate was very broad now a days and it takes a lot of time,efforts and financial aspect. Big thanks for sharing this.

Elizabeth J. Neal said...

A pocket listing is a real estate industry term used in United States which denotes a property where a broker holds a signed listing agreement (or contract) with the seller, whether that be an "Exclusive Right to Sell" or "Exclusive Agency" agreement or contract, but where it is never advertised nor entered into a multiple listing system (MLS), or where advertising is limited for an agreed-upon period of time. In Canada, this is referred to as an "Exclusive Listing". click here

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