Any listing that is retained by a listing broker or salesperson who does not make the listing available to other brokers in the office or to other multiple listing system (MLS) members.
Also referred to as an "exclusive listing."
When a real estate professional is hired to list and sell a property, a listing agreement is in writing. Often real estate agents and brokers agree to cooperate with other agents and brokers and share a portion of the total commission paid by the seller. In a pocket listing, a property will not be listed in a MLS, and therefore there is no agreement to work with other real estate professionals. Reasons for a pocket listing include the seller's desire for privacy or to sell to a certain individual.
Investment dictionary. Academic. 2012.
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