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Tagged : home sellers
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Wednesday, May 15th, 2013 at 11:54pm. 1263 Views, 1 Comments.
MPR recently did a story about the proliferation of private sales in the Twin Cities real estate market. I thought that I would take some time to talk about what a private real estate sale is and what its pros and cons are.
A private real estate sale, otherwise known as a “sleeve” listing or a “pocket” listing, is a property for which a broker holds a signed listing agreement from the seller, but it is never actually advertised on a multiple listing system (MLS). Instead of putting the house on the local MLS, which exposes it to home buyers and buyer agents, the real estate agent restricts access to information about the house, hoping for a quick sale.
Pocket listings are surging in the local Twin Cities real estate market, and in many other…
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