Exterior of Minneapolis condo - pocket listings

The Power of Pocket Listings

July 12, 2019 by Joe Grunnet

Whether you’re looking to sell your home or purchase a condo, you should be keeping pocket listings at the top of your mind. But what exactly is a pocket listing, you ask?

A pocket listing is a home not listed on the Minnesota MLS. In fact, these homes may never even hit the MLS list, as they often sell “off market”. At DRG, over 50% of our inventory sells before it ever goes to the MLS, and we’re here to tell you that these pocket listings can offer a unique advantage to both sellers and buyers. Let’s take a look!

Seller Advantages

There are many reasons why sellers may want to list their homes as pocket listings prior to going live on the MLS:

  • For starters, maybe you’re still on the fence about whether or not to sell your home. Pocket listings can help ease you into the idea of selling your home without having to officially put it on the market.
  • Maybe you’re willing to wait for a certain price. Pocket listings can be a great option for those looking for the right buyer at the right price.

Having a Pocket Listing can also allow sellers to have the upper-hand in price negotiations. If you’re willing to be patient in selling your home, the buyers will likely have to meet you at your asking price. Pocket listings also help sellers avoid having their home sit on the MLS for too long. Often times, buyers are wary if they see a home listed on the MLS for too long. This can avoid having buyers pass up your home due to inactivity.

Buyer Advantages

One of the main advantages of working with an urban realtor from Downtown Resource Group is our exclusive access to pocket listings not just on our website but also listings that never make it online. In today’s market, buyers are having to put in multiple offers and fight what seems like an uphill battle in getting their offer accepted.

With pocket listings, buyers can

  • Experience less competition from other buyers
  • Avoid multiple offer situations
  • Reduce the risk of overpaying

Also, if a buyer is looking for a specific building, our urban realtors can tap into their expansive networks to hunt down sellers in those buildings long before their unit goes up for sale on the MLS. We’ll work with you and potential sellers to get you into your dream Minneapolis condo.

Question About Minneapolis Real Estate?

If you’ve ever been curious about pocket listings, there’s no better time to reach out to one of our urban realtors! The summer market is still heating up, and this could be the home selling advantage you’ve been waiting for! Visit our Pocket Listing page to view our latest pocket listings.

Don’t see what you are looking for? Get in touch or check back in a few days for new updates!

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