But there’s a caveat: “We have to be very careful that we’re not crossing the line and putting our interest ahead of the client’s interest,” Ermen said. If you can win a pocket listing, you’ll have the inside scoop on the unlisted home for your buyer clients. Detail for these sellers how you will use the time it would normally take to list and market their property to the public differently. “Some sellers don’t want it to be known that they’re on the market, and if you have the ability to know who these people are and how to serve them, it can be a boon for you,” Ermen said. Though not without controversy, pocket listings can offer a strong value proposition to sellers, especially those in high price points. She gave several examples of how practitioners can find unlisted inventory. “It can be a unique selling proposition for you.”īuyers and sellers are driven more by fear of missing out-or FOMO-than the prospect of gain, noted Ermen, who has been in the real estate business for 40 years. “Unlisted inventory allows us to go back to the days of competing at a level where we are aware of things that consumers aren’t,” Pamela Ermen, CRS, GRI, of Berkshire Hathaway HomeServices in Virginia Beach, Va., said at a session Friday during the REALTORS® Conference & Expo in Boston.
And that’s added value that will inspire client loyalty. If you’re working your connections right, you can get a heads-up on unlisted inventory-from pocket listings to FSBOs and expireds-before it hits the market. The days of real estate professionals as gatekeepers of listing information are gone, but you can still surprise clients with housing options they can’t find for themselves online. © REALTOR® Magazine Forty-year real estate veteran Pamela Ermen said at a Friday session during the REALTORS® Conference & Expo in Boston that finding unlisted inventory for buyers helps show them why they need to rely on you rather than online real estate portals.
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