A Pocket Listing
is also referred to as an "exclusive listing." When a REALTOR® is hired to list and sell a property, a listing agreement is always prepared. It is an agreement between the seller and the listing broker. A pocket listing isn't listed on the MLS nor is there any agreement to work with other real estate professionals. Usually a pocket listing is done because the seller does not want others in his neighborhood or community to know he is interested in selling his property.
Just in case you haven’t noticed, “Street View” is now available on my website. This is a great tool, which allows one to view real estate without using gas. You are able to view panoramic photos of the home you are interested in and travel up and down the street. Without people thinking you are crazy, you can literally stop in the middle of the road and look around. Since Real Estate is all about location, location, location, without ever flying, driving or walking to the home of interest, one can view the exterior of the home and area of your next home purchase.
When you are searching for a home on my website, click on a city under "Quick Search Listings". Once you find the home of interest click on the orange word “location” and it will open Street View. Then let the fun begin.
Working With a Real Estate Agent Etiquette
If you want to sell your home, work with a “seller’s agent” also known as a “listing agent”. A listing agent works for the seller, not the buyer. If you call the listing agent to show you the home, the listing agent will expect to represent you. Dual agency occurs when an agent represents both the seller and the buyer. In California, it is okay for an agent to represent both the “seller” and “buyer”, if both the “seller” and “buyer” agree to that arrangement.
- If you want to buy a home, work with a “buyer’s agent”. California requires real estate agents to disclose to the consumer whom they represent. The form used for this disclosure is called “Agency Disclosure.”
- Receiving a salary is not the norm for the real estate agent. Real estate agents receive a commission and this only happens if the transaction closes. Do not ask an agent to work for you if it is your intention to cut the agent out of the deal.
- If you make an appointment with a real estate agent, be sure to keep it. Conduct business with a real estate agent with the same courtesy you would any professional. Real estate agents have many clients and organize their time to meet the needs of everyone. Don’t expect them to drop everything to show you property—make an appointment.
- If you attend open houses without your real estate agent, be sure to have his/her card with you to give to the agent holding the open house. The agent hosting an open house is usually an agent looking for unrepresented buyers and not the listing agent for the home that is open.
- Let your agent know what you are looking for and what you expect. Be sure to be realistic with your price and the location(s) you are looking for a home. Let your agent know the best way you like to receive communications. And, please respond to your agent. If you change your mind and decide not to purchase a home, be sure to let your agent know.
REAL ESTATE BUZZ
What's the real estate market doing on the Monterey Peninsula, California? Is now the time to sell or buy? What's available for sale? What's your home worth? Keep on top of the market by reading the Real Estate Buzz Blog.
Topics for this weeks radio are;
- Top News of the Week
We were just starting to look around for our first home when we got connected to Noni. As soon as
we met with Noni she took the time to answer all of our questions about the process of home buying
and instruct us on what to expect. Her friendly, warm and caring manner set us at ease. She was very
patient as we went through a lot of different ideas, listened well and helped us develop our vision and
narrow our search. Noni has an eye for detail and a proactive approach that went above and beyond,
coordinating the fixing of a sewage backup valve and even replacing a door handle, just to name a few.
Even after closing, she remains available to field our questions and concerns. If we should ever decide
to sell and/or purchase another property, we would always to look to her first.
Lindley and Laura