What is a Pocket Listing?

Tags

Jacksonville FL Real Estate, Jacksonville FL real estate agents, Jacksonville Real Estate, pocket listings, real estate, real estate information, Real Estate Team

Not every home sold gets a shiny new for sale sign out front. Some change hands quickly and quietly without any public advertising whatsoever. In the industry, these are known as “pocket listings.” Pocket listings are sometimes referred to as “coming soon” listings or “whisper” listings.

Pocket listings used to be the domain of the very famous or the very wealthy. People who liked to protect their privacy would typically work with an agent who could find a buyer among word-of-mouth networks of agents representing high-end buyers. Often this happened only in urban areas or in the luxury segment, but now in markets where inventory is tight and bidding wars are not uncommon, pocket listings are becoming somewhat more mainstream.

You might ask yourself: Why not advertise a home in a market where multiple offers are the norm? It can depend. In some cases, the seller may want a quick and painless sale, and would prefer not to go through the traditional process of cleaning, curb appeal sprucing, and open houses. When the seller’s agent happens to know the buyers directly, often a simple walk-through with prospective buyers is enough to secure one acceptable offer.

Sellers should understand that it’s possible for a pocket listing to generate a slightly lower price. While it’s not always the case, the trade-off for a quick, quiet sale may be worth it. If you’re considering a pocket listing, you’ll be asked to sign something which indicates your consent to avoid a wide-scale advertising effort. An agent has a responsibility to try and secure a seller the best possible price, and will want to make sure there’s a clear understanding.

One slight marketing advantage the pocket listing retains is the idea that buyers are getting special access to a property others will never know hit the market. For the seller, a pocket listing can also prevent the unfortunate experience of having a home’s value decrease because it sat on the market too long.

On the whole, casting the widest possible net for a buyer is the best strategy for securing the highest closing price, but if you’re more comfortable with a quick and quiet approach, you might want to talk to an agent about the prospect of a pocket listing.

Thinking of selling, but would like to have a conversation before you commit? Get in touch with our team today: The Hanley Home Team – http://www.HanleyHomeTeam.com 904-515-2479 Kevin and Jennifer Hanley, REALTORS

Advertisements

Networking Can Help

Tags

Buying a home, homes for sale in Jacksonville FL, Jacksonville FL Real Estate, Networking, real estate, real estate consultant, real estate information, real estate market activity, Real Estate Referrals, referrals

Usually when agents start talking about referrals, people assume they’re hunting for new listings or more buyers to represent. This isn’t one of those posts!

In fact, we wish more people would come to me looking for referrals in the community. A good real estate agent knows people in the community you can trust, and we’re always happy to provide the connection.

If you think about it, agents pretty much interact with all of the people dedicated to protecting, improving, or maintaining your biggest asset: Your home. Whether it’s a local insurance agent, an honest contractor, or a crack crew of yard and maintenance people, agents are great sources of “who you should know.” (We’re also reliable sources of locals-only community info!)

It’s too bad that agents are often involved only in the sale or purchase of a house. We prefer to think of ourselves as a lifetime consultant to our clients, and providing the names of people we would stake my reputation on is simply a part of our ethical obligation to serve.

So, by all means, if you’re looking for someone in the greater Jacksonville area, do drop us a line. We’d be more than happy to help: Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-422-7626 http://www.HanleyHomeTeam.com

Be Careful of Traffic!

Tags

Knowing the local market, real estate information, real estate market activity

“Advice to children crossing the street: damn the lights. Watch the cars. The lights ain’t never killed nobody.”

Jackie “Moms” Mabley (born Loretta Mary Aiken), American standup comedian

“But I had the light,” is probably one of the most common phrases spoken after a car accident. Green means go for me, red means stop for them. Before you know it, you’re on the phone with your insurance company.

Who doesn’t remember an adult reminding them to “look both ways before you cross the street”? It seems like common sense so basic we wouldn’t even need to teach it. But it’s funny how that lesson, which seems so obvious, is often lost in other areas of our lives.

Take, for instance, the raft of real estate market data you hear every month. What’s new construction looking like? How did pre-existing sales do last month? What’s it look like in the greater metro area for condo prices? To a certain extent, these are just the traffic lights of real estate. Agents help you look both ways before you act on those “trusted” signals.

Knowing the local market doesn’t necessarily mean knowing the big numbers. It means knowing the specifics. It means knowing how to interpret market activity tailored to the needs of my clients. Metaphorically, it’s our job to be a good scout and protect client interests as they “cross the market” (and that includes not getting hit by a bus-sized bad move).

Reporting always lags behind reality, though the delay may be small or large. Local agents are the best real-time readers of neighborhoods and inventory. Don’t get too nervous about what you hear in the news. Talk to someone who’s out there making it!

Keep your eyes open our there, and best of luck this week! Get in touch if you’re thinking about making a move soon:

Kevin and Jennifer Hanley, REALTORS – http://www.HanleyHomeTeam.com – 904-422-7626 Keller Williams Realty Atlantic Partners