What Is A Pocket Listing In Real Estate?
Articles,  Blog

What Is A Pocket Listing In Real Estate?


– People always ask me,
“Kiwi, how do I find the home that I’m looking for
that I can’t see online? It’s not on the market, my
family’s getting frustrated because I can’t find the right home. I’ve looked on the model
listing service and ow! It’s just not there.” Well, stick around because we’ve got some very powerful solutions of using our real estate
radar to figure out where those pocket and
off-market listings are going to come up next. Stay tuned! You’ll see. I’m Kiwi. (cheery string music) This is Kiwi the Coast, you’re
luxury real estate specialist helping you maximize and sell the value of your coastal home. Now, if you’re new to the channel, don’t forget to subscribe. Let’s jump in. So, before we get started. What is a pocket or
off-market listing anyway? Well, an off-market listing is a listing that an agent has or a broker has that has not been in put into the MLS. So it can’t be seen. A pocket listing, on
the other hand, can be an opportunity that an agent knows about, a potential seller or a home that they know is going
to come to the market, but has not been officially
listed with anyone but is just merely an
opportunity that’s out there waiting to be shown and sold. So, people are frustrated because they can’t find the right home. Well, in this video we’ll
have four very strong ways of finding that off-market
or pocket listing that’s going to work for your family. Number one is contractors,
builders, and vendors. Now, these folks are always
exposed to future sellers but they just don’t always know it. So, our job is to empower
these contractors, builders, and vendors to be on the look out for those telltale
signs of future sellers. More on what those
telltale signs are later. Now, for example, let’s
take our builder friends. Number one- they are
constantly doing construction, remodels, and so on, so
they might be open to whose not completing the work, what remodel has been slowing down because of financial difficulties
from a particular seller, plus they also involved
with total rebuilds and ground ups and so on. Always creating real estate opportunities before they hit the
market so keeping in touch with those Contractors is vital and that’s what we do at Team Kiwi. Also, handyman. Those people that are coming in, handyman, gardeners, window cleaners, all those ancillary vendors are very good to keep in touch with, why? ‘Cause in many cases
the sellers are starting to take care of those fixes
that they know will need to be done before they put
their home on the market. So, having a good relationship with those particular vendors,
staying in touch with them, and empowering them with
those telltale signs is vital as we work through our book of vendors, contractors to
find those off-markets for you. Number two networking. Now this is my favorite. And funny enough, in this
digital age where everybody is on their iPhone, not really communicating with everybody face to
face, this gives us, at team Kiwi, the leg up because we’re constantly
networking and talking with other people. Now, good agents are trained
to always be networking and we call it prospecting. It’s a constant with our business. So, we’re constantly working
with our sphere of influence, our service area to be communicating with people about what
life changes are occurring in our service area with the people that we’re networking with. Now, networking, stepping
back a little bit, is arguably one of the best ways of getting the message out. There’s the old story about
the six degrees of separation which simply says that you’re
six contacts away or less from essentially reaching
every person in the world. So networking is vital. So what telltale signs are we looking for? Well here they are. They’re called life changes. People divorcing, it’s a shame I know. Deaths in the family, births of course, ’cause maybe they need a bigger home. Folks that are retiring,
maybe they need single level, they want to move away to retirement areas and sell their current home. Job change, people that have
lost their job or transferring. Those are all the telltale signs that if we train these folks right, and we network properly,
we’re going to find. So, those are the telltale signs that we’re constantly
looking for in our business. Hey, but we’ve done all
the leg work for you because we’ve created a special website that you can go to called
KiwisPocketListings.com. Go there, click on there,
put some basic information, and you will see a slew of
off-market and pocket listings that may just be a match for your family. Number three is word of mouth. Now, this is different from networking because this is closer in. This is about friends and family in a closer kind of network. Word of mouth is absolutely
key to finding those people that are going through those life changes that we just talked about. So, my job is to make sure
that when people think of life changes, they think of Team Kiwi, and they report to us
opportunities that come in. That’s that word of mouth, that’s the power of word of mouth, and then it’s my job then
to put that information in a database, keep it, and
follow up with those folks so that I know when those
homes are coming available that will benefit my
clients just like you. Of course, number four is that big group of people out there called
Real Estate Agents and Brokers. Now, if they’re doing their job right, they should be in contact
with future sellers that are coming up so
our job at Team Kiwi is to maintain and network
and be in close contact with that agent population that represents qualified
buyers, and sellers of course, that are in the know. So, working with those
agents is number four and it’s really, really vital
to find those off-markets. Now, we’re calling constantly data mining the information coming from those agents. For example, the coming
soons they reported on their social media feeds,
perhaps a Zillow coming soon. All of these off-markets
opportunities that agents often post without them
being open to the public, we are monitoring constantly
so that we can get ahead of the game and know what
properties are coming up next and we can report them to you so you can be first in the door and perhaps buy them
before anybody else does. Hey, I hope you found
that information valuable. – [Announcer] Now, it’s
time for the Kiwi Squeeze. Now, it’s Kiwi Squeeze time. This is where I ask you for the juice. So, what methods have you
found to be most effective in locating those off-market properties. Do share. Comment down below and I can’t
wait to read your responses. Alright guys, continue your
real estate education here. Click or tap on the videos,
we’ve got a great series. You’re going to sell your
home for more in less time. I’m going to help you
do it, and we’ll see you on the next video.

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