Pocket Listings Are Now Banned By The The National Association of Realtors

National Association Of Realtors Bans Pocket Listings

pocket listings

The National Association of Realtors has officially banned the use of pocket listings. The NAR board of directors voted 729-70 on Monday to ban the controversial practice. The NAR stated the practice was controversial because it allowed agents to select who the property is sold to.

Pocket listings were surging in competitive markets in overpriced markets like New York, San Francisco, Los Angeles and Washington D.C.

A listing agent to use the MLS service to let select realtors know the property was for sale. Realtors would usually list it with code words or with an informal “coming soon” notice. This also allowed them to avoid officially sharing the listing and often retaining a full commission.

Read more at MFI-Miami

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s