In the world of real estate the terms “pocket listings” and “delayed listings” are used interchangeably. But as our MLS gets ready to roll out the new Delayed status, it’s important to understand the differences between the two in our market. While this blog breaks down the definitions, we recommend talking with your broker to gain a better understanding.
Pocket Listings are not listed in the MLS. Instead, agents only expose them to an audience of their choice.
- Showings are the decision of the agent/broker holding the listing
- No inherent offer of cooperation/compensation
- Property can be manually entered into some syndication websites
Delayed Listings (also known as Coming Soon listings) are listed in the MLS for up to 14 days (but can be made Active earlier). The system is designed to build agent-to-agent buzz while the property is prepared for showings, which could be for a variety of reasons (painting, carpet, etc).
- Showings are not allowed, even by the listing agent
- Cooperation/compensation is required
- Listings are not syndicated or displayed via IDX until they are Active
- Available to all MLS subscribers via searches and hot sheets
- Participation is optional, even if you meet the requirements