3 Reasons Pocket Listings Don’t Work
You list your home and with an agent and before they have to take photos or list it on the MLS they have a buyer! That’s great news, right? Well sure, if all you care about is a quick sale and the market is slow. However, it may not be the best offer.
When you accept the very first offer with your listing agent they often owe a fiduciary duty to not only you but to their buyer as well. That can be a tricky situation. Your agent can no longer advise one party more than the other. They can no longer pick sides. The agent suddenly becomes more of a mediator and paper pusher.
Second, you are not marketing your property to the masses that are lined up waiting for a home like yours. The Market in Bullhead City and Fort Mohave is in an inventory emergency. Buyers are searching for homes that are simply not available. When we list properties we have a plan. The plan is to create a frenzy and ensure that people line up outside to see your home.
The final reason why you shouldn’t accept an offer prior to actually placing your home on the market is you may not be receiving the best offer. When we list a home we want to give you the opportunity for the best representation, the best marketing, and the chance to receive the best offer. In a seller’s market you have the ability to make the rules. Like when you list it and when you review all offers. We like to list on a Thursday and review offers on Monday. When buyer’s know there may be other offer’s they are more likely to make larger offers and better terms. This means as a seller you may receive an over asking offer or terms that fit your needs better.
In conclusion, sometimes a marketing plan and a little patience can go a long way to help you achieve a much better result when selling your home. Most agents have a long list of buyers they are working with but that doesn’t mean they have the particular buyer that is willing to pay 10% over the asking price, cash, with a quick close! Maybe, another agent on the MLS has this and you’ll never know if you take the first offer from your agent as a pocket listing.

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