Much like finding love on a dating site, Web 2.0 lets buyers meet their dream homes and sellers meet their dream buyers in a direct, match-making process– without the MLS.
Because of new technology, many agents and their clients are turning to unconventional ways to list property for sale, and the increasing speed and reach of the internet (especially social networking) makes it easier to get attention to a property for sale, attention that was previously reserved for listings on the MLS. As more and more agents and their clients begin to achieve an “off market” sale at a desirable price and terms for all parties, the boundaries of ‘one national listing place’ expand– potentially to the point of blowing apart.
That’s what PocketListings.net is all about. Says co-founder Alex Clark: “We’ve already seen a high volume of posts for higher end property and I expect that will continue, and we’re seeing a much larger number of agents using our service to promote ‘buyer needs,’ which bring fence sitting sellers and their agents out of the woodwork, and into contract. As we develop our technology further to simplify the process of posting pocket listings and buyer needs to our site, we suspect many more brokerages to get in the game as their clients (the buyers and sellers) become more and more savvy to the alternatives available to them.”
-Web 2.0 Remaking Real Estate, Again [SF Gate]
A new idea in real estate is eliminating barriers and erasing geographic lines
Our founder recently sent this quote to a reporter, so we thought we’d share.
Upon being asked to put in his own words what we do:
We are socializing the world of off market or not on MLS real estate opportunity and facilitating transactions by giving sellers an alternative to their MLS, buyers their own place to list their needs, and matching them up… a la Match.com. In an economy where Days On Market and a history of price reductions can drastically hurt a sellers offer price, thus their fear of “listing” their home on MLS, we can give them an avenue to explore selling their home through a licensed professional, their network, and the power of internet search, and social networking. On the other hand, because sellers are reluctant to “list”, buyers are in need of more property choices, because they aren’t finding what they need on MLS. We give them a chance to post that need (through their agent), which puts them in the system for future matches as well as makes their need searchable to any sellers or sellers’ agents looking for buyers. If no sale happens…delete…and there is no history.
It’s about time there is an alternative, national, and central place to facilitate real estate transactions at all levels.
As you begin to use and experience our site, as our founder has in San Francisco, you’ll see how tremendously powerful this tool will become to you and your clients.
Have a look at our press page to see past articles about PocketListings.net and pocket listing, in general (New York Times article).
This post from Amy Blakeley way back before we launched our beta version was recently discovered. We also thank Amy for her support and generosity in sharing the news about our launch way back when. Thanks Amy!
““Pocket listings” are properties that are not publicly advertised but are considered for sale. Advertising for these homes is typically done through the Realtor’s and the seller’s networks, by word of mouth, and increasingly with a property-specific website. Pocket listings are a subject of much debate in the real estate world: whether the seller is serious about selling, if the asking price is realistic, and if the Realtor is able to properly do his job of getting the most exposure possible for the property.
The exposure debate is about to be laid to rest. Expected to launch in January 2010 is PocketListings.net, a nationwide website exclusively for Realtors to promote properties that are not listed in their local MLS (multiple listing service).
The website will have a basic set-up where the general public can peruse these off-market real estate offerings and, when interest is piqued, have his or her agent contact the Realtor. No addresses will be published. Only licensed Realtors are able to enter property listings, which will preserve the site’s goal of becoming the go-to place for additional housing inventory, rather than a free for all for FSBO’s.
If you are too excited to wait for the website to go live, visit PocketListings on Twitter, which is already brimming with inventory.
Amy Blakeley, REALTOR® McGuire Real Estate http://www.AmyBlakeley.com ablakeley at mcguire.com”
Woot! Love the support. Thank you!