RISMedia's Real Estate Magazine

SEP 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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106 September 2018 RISMedia's REAL ESTATE {Trending} T he real estate market has heated up so much in certain regions that brokers are taking transactions into their own hands—or, rather, their pockets. With increasing prices and, seemingly, more buyers willing to pay an amount that's leaving sellers with nice profits, the question these sellers keep asking is, "Why bother with the MLS?" While the answer to that question varies greatly depending on who is asked, more and more brokers are saying don't list on the MLS, or even Zillow, for that matter. "It's an opportunity for a savvy agent, who uses his or her network properly, to make more money for their client," says Jon Paul Molfetta, a broker with Keller Williams Realty in New York and New Jersey. There are many ways to handle pocket listings, ranging from the "double-secret" listing that no one can know about except the most pre- ferred buyers, to the "not-so-secret" listing that brokers blast on their social media accounts. Either way, brokers get to curtail listing fees and retain more control of the process. Brokers Turn to Pocket Listings in Rising Markets by Andrew King

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