After reading a post about "pocket listings" written by Elliott Topkins, an attorney in Massachusetts, I thought I'd share my thoughts on this topic. I am certainly an advocate of the MLS system and all of our listings are submitted to MLS with one exception. That exception is tracts of land.
When I'm hired to list large parcels of land that have the potential to be subdivided into new residential communities, those will remain "pocket listings." Most real estate agents do not know how to show or sell land. Most are not familiar with land analysis and for those listings to be submitted into MLS would be sinful.
It would result in another agent relying on my expertise to secure the deal. That co-broke agent would then receive the listings of the new homes. That's never going to happen with me. Not all listings belong in MLS.
There are special properties that require a certain expertise to create a transaction, and that transaction should not be sold with co-broke agents. Land is very difficult to find. When a parcel of land crosses your desk, it's not a topic for open discussion. It's a race to find the right developer for the tract of land. One subdivision can equate to 5 or 6 years of inventory with one closing!! Yes, it's a Pocket Listing!!
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