Pocket listings are like secret treasures in real estate. They are homes for sale that are not shown on big websites or in the MLS. Instead, only a few trusted agents know about them. Many people like the idea of finding a perfect home that not everyone can see.
What is a Pocket Listing?
A pocket listing is a home that is for sale but is not shown to the public. It does not appear on home search websites or the MLS, and you will not see a for-sale sign on the street. Instead, only a few real estate agents or mortgage brokers know about it. You might also hear these called:
- Off-market listing
- Quiet listing
- Whisper listing
- Private listing
- Exclusive listing
- Shadow listing
- Pre-market listing
How Pocket Listings Work
Usually, homes for sale are listed in the MLS, which many agents and buyers use to find properties. Pocket listings are kept secret by a few agents. They show these homes only by private contact or special showings, not to everyone.
Why Sellers Use Pocket Listings
Sellers may choose a pocket listing to keep their sale private. They might be well-known in the community or simply want to keep their sale quiet. With a pocket listing, sellers can invite only a few buyers to see the home. This can help them try different prices before listing the home for everyone. Also, with no public listing, it is not clear how long the home has been for sale.
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Pocket Listings May Sell for Less
A study in March 2025 found that homes sold as pocket listings usually bring in about 1.5% less money—almost $5,000 less—than if they were listed on the MLS. New research from Zillow shows that in many communities, especially in majority Black, Hispanic, and Asian American neighborhoods, homes sold off-market can earn about 3.2% less. This means the sale price can be nearly $10,000 lower than a public listing.
How to Find Pocket Listings
If you want to find a pocket listing, you need to work with several real estate agents or brokerage firms. Let them know you are looking for a home that is sold quietly. Also, check websites like Zillow for “coming soon” listings. These are homes that will be on the market soon, even if they are not fully public yet.
Another option is to look at for-sale-by-owner properties. These are homes sold by the owner without a Realtor. Websites like ForSaleByOwner.com can help you find these hidden gems.
Have Pocket Listings Been Banned?
The National Association of Realtors (NAR) banned most pocket listings in 2020, but there are some exceptions. Agents who are not NAR members do not need to follow this rule. In March 2025, NAR changed its rule to allow a “delayed marketing period.” This lets sellers hold off on public listings for a while, keeping their home less exposed to the general market.
Pros and Cons for Sellers
Pros
- Sellers can test the market to see what price buyers are willing to pay.
- Buyers will not see how long the home has been on the market, which can help keep the home looking fresh.
- Only qualified buyers are shown the home since the agent carefully selects them.
Cons
- Fewer people see the home, which means fewer offers.
- The sale might take longer because fewer buyers know about the home.
- Studies show that pocket listings may sell for less money than public listings.
Pros and Cons for Buyers
Pros
- You may find a unique home that fits your needs perfectly.
- There is less competition from other buyers, which might help you negotiate a better price.
Cons
- Pocket listings can be hard to find.
- It can be difficult to know if the price is fair because there are not many public sales to compare.
- These homes are often in a higher price range.
Pocket Listings in Real Estate FAQs
Is a pocket listing a good idea?
For some sellers, a pocket listing is a good way to keep their sale private and limit unnecessary showings. For buyers, it can be a way to discover a unique home.
Is a pocket listing the same as an off-market property?
They are similar. An off-market property might also include a home that is not available for public showings because it is being fixed up or needs repairs.
What is the pocket listing lawsuit?
In 2020, a company called the Top Agent Network (TAN) sued the National Association of Realtors over its rules on pocket listings. TAN said these rules reduce competition and limit a seller’s choice in how to sell their home. With the rule changes in March 2025, it is still unclear if the lawsuit will continue.
This guide explains pocket listings in simple words. By knowing how they work and their pros and cons, both buyers and sellers can make better decisions in the real estate market.