A pocket listing is a property for sale that an agent intentionally keeps off the Multiple Listing Service (MLS) and does not publicly advertise. Instead of broad marketing, the agent privately shares the opportunity with a select group of buyers or other agents—by phone, email, private portal or word‑of‑mouth—so only a limited audience knows the home is for sale.
Plain‑English example: a celebrity wants to sell quietly. Their agent tells five trusted agents and two vetted buyers, fields offers privately, and never posts the home on Zillow, Realtor.com or the MLS.
Common alternative names include off‑market listing, private listing, exclusive listing, office‑exclusive listing, quiet listing and pocket listing. (See also: MLS and off‑market.)
MLS listings are public to participating brokers and feed consumer sites; they maximize exposure and competition. Pocket listings are intentionally withheld from MLS, reducing visibility, limiting showings and often excluding buyer agents outside the agent's network.
“Coming soon” status is a temporary MLS flag that signals an imminent public listing while keeping the property off active search results for a short period. Pocket listings skip MLS entirely (or delay MLS indefinitely). Coming soon aims to build anticipation while preserving eventual broad exposure; pocket listings prioritize sustained privacy or exclusivity.
Exclusive or office‑exclusive listings may be listed in a brokerage’s internal system and shared with its agents but still follow MLS rules when required. Pocket listings are usually marketed only to a narrow external circle or the listing agent’s contacts; access is far more restricted than office‑exclusive distribution.
Sellers who value confidentiality—celebrities, executives, or those with sensitive situations—use pocket listings to avoid publicity, crowds and curiosity seekers.
Some sellers test interest or a target price privately to gauge appetite before deciding whether to go public. This can preserve negotiating flexibility if public feedback would force a price change.
Pocket listings allow tight control over who sees the home, fewer showings, and pre‑qualified or pre‑vetted buyers—often speeding transactions and reducing disruption.
Many associations now discourage or restrict pocket listings. The National Association of Realtors’ Clear Cooperation Policy requires timely MLS entry for listings offered to the public, with certain narrow exceptions (e.g., explicit seller instruction for private marketing). Local MLS rules vary—some allow office‑exclusive distribution for a short period; others prohibit pocket listings entirely.
Agents owe fiduciary duties (loyalty, disclosure, confidentiality) to clients. Operating a pocket listing while steering buyers from the same brokerage without clear consent can create conflicts. Written, informed consent and transparent disclosure reduce legal and ethical risks.
Deliberate steering that prevents fair access to the marketplace can raise antitrust concerns. Practices that systematically exclude competing brokers or suppress listing information may attract scrutiny.
Sellers and agents must still make statutory disclosures (property condition, environmental hazards, known defects). Buyers and lenders will demand documentation; failure to disclose material facts can later lead to liability.
Off‑market sales reduce the pool of observable comparable sales (comps). With fewer comps, automatic valuation models and market perception can be distorted, making price discovery less reliable.
Appraisers rely on verifiable comps and closed sales. To reduce appraisal issues: provide appraisers with detailed prior sales data, comparable listings, recent offers (if any), a list of upgrades, and access to the property. Consider ordering a private appraisal or broker price opinion in advance.
Lenders may scrutinize off‑market transactions more closely. They commonly ask for: signed purchase agreements, proof of earnest money, inspection reports, documentation of comparable sales the appraiser used, and explanations for any non‑arm’s‑length aspects of the deal.
Top agents circulate pocket listings through established relationships—phone calls, broker meetings, private emails and trusted colleagues. Being on an agent’s preferred buyer list helps.
Some brokerages maintain private portals for VIP clients. Third‑party off‑market platforms also exist, though access is usually paid or invitation‑only.
Investors find pocket deals via direct owner outreach, wholesalers, bird dogs, and by maintaining relationships with probate attorneys, estate planners and property managers.
Concierge and wealth management services sometimes tap private networks to match buyers and sellers who require discretion, especially in luxury markets or corporate relocations.
Use NDAs or confidentiality clauses for high‑profile sales, require pre‑qualification, and schedule private showings for vetted buyers only. Keep a log of who saw the property to document efforts to find buyers.
Set a realistic price that accounts for reduced competition. Consider using a pilot price (private testing range) and include an MLS entry deadline in the seller agreement if the property doesn’t attract acceptable offers.
Include clauses for commission splits if buyer’s agent brings a buyer, an MLS entry deadline (if seller chooses), confidentiality obligations, and remedies if the listing is posted to MLS prematurely. Spell out who pays escrow, earnest money terms and inspection timelines.
“Coming soon” is useful to build interest while preserving short‑term privacy; it gives exposure to agents and early shoppers without full active status. Use it when you want a brief pre‑marketing window.
Exclusive agency agreements with defined limited marketing (no public signs, targeted ads only) balance privacy and wider distribution through the brokerage or selective MLS fields.
Blind listings mask the property address online; invitation‑only open houses and private broker tours invite vetted buyers while still leveraging agent networks and selective publicity.
Luxury sellers prioritize discretion, personalized service and curated buyer lists. High‑net‑worth transactions often involve bespoke marketing and private networks where pocket listings thrive.
In tight markets, sellers might leverage pocket listings to find off‑market buyers quickly, while buyers seek off‑market deals to avoid bidding wars. Conversely, in balanced markets, the lack of competition can hurt sellers.
Estimates suggest pocket listings constitute a small but notable share of transactions (varies by market). Watch MLS policy updates, NAR guidance and broker transparency initiatives that aim to limit extended off‑market practices.
Step 1: Seller meets agent and requests full privacy. They sign a listing agreement with a 30‑day private marketing window and an MLS deadline if no acceptable offers arrive.
Step 2: Agent prepares disclosures, a professional brochure without address, and a private portal entry. NDAs and proof of funds are required to view. Agent informs brokerage and documents seller’s instructions.
Step 3: Agent calls five broker contacts and emails the brochure to three vetted buyers. Two buyers request showings; both pre‑qualified.
Step 4: A vetted buyer submits an offer at a price acceptable to the seller. Parties negotiate contingencies and a closing date. Agent documents the offer trail and the seller’s decision to accept.
Step 5: Appraisal is ordered. Agent provides comp package and recent private offers to the appraiser. Lender requests additional documentation but closes once valuation and underwriting align.
Confidentiality clause (sample): “Seller authorizes limited, private marketing of the Property. All brokers, prospective buyers and their representatives shall execute a confidentiality agreement prior to receiving address, showings, or material disclosures.”
MLS timing clause (sample): “The parties agree the Property will be marketed off‑MLS for an initial period of X days. If no acceptable offer is received, the listing will be entered into the MLS within Y days unless Seller provides additional written direction.”
Commission split clause (sample): “Listing Brokerage will pay cooperating broker a commission of X% to any procuring broker presenting an acceptable, ready, willing and able buyer. If Listing Brokerage procures the buyer, a commission of Y% shall be paid to Listing Brokerage.”
A pocket listing is a private sale marketed to a limited audience and intentionally kept off the MLS and public portals.
Legality depends on local MLS and state association rules. Many areas allow short private marketing windows with written seller instruction; others restrict prolonged off‑market practices. Confirm with your broker or local MLS.
They can be ethical when the seller gives informed, written consent and the agent discloses conflicts. Problems arise when secrecy benefits the agent at the seller’s expense or when buyers are steered unfairly.
Build relationships with top local agents, join private portals, sign up for broker VIP lists, and network with wholesalers and investor groups. Ask your agent to include you on “preferred buyer” lists.
Commissions follow the listing agreement. Brokers often specify cooperating broker splits or full commission to the listing firm if it procures the buyer. Always confirm split mechanics in writing.
It can complicate appraisals because of fewer verifiable comps. Mitigate by supplying detailed comp packages and documentation; lenders may ask for extra paperwork but will generally finance legitimate transactions that meet underwriting standards.
Choose private marketing when privacy, speed and buyer vetting outweigh the need for maximum exposure—typically in luxury, estate or sensitive sales, or when the seller has a specific buyer pool in mind.
Consult an experienced agent for local MLS rules, an attorney for contractual and disclosure concerns, and an appraiser early if valuation is likely to be challenged.
If you’re considering a pocket listing, download our off‑market checklist or contact an agent to discuss legal requirements, pricing strategy and appraisal preparation tailored to your market.
