Archive

Posts Tagged ‘Off Market Real Estate’

Another PocketListings.net Success Story

March 19, 2013 Leave a comment

When we sold our home, privacy was of absolute importance. To meet our needs, Alex and Pocketlistings came up with an agent-first marketing approach that leveraged his pocket listings network (PocketListings.net). This helped us get the word out and find the most suitable buyer, almost instantaneously. Our property sold off market after just one showing.

-Milla and Chad

PocketListings.net testimonial, March 2013.

Advertisements
Categories: Uncategorized Tags: , ,

Real Estate Resolution for 2013 — join Pocketlistings.net!

January 4, 2013 Leave a comment

Happy New Year!

We have a Real Estate Resolution for you: join Pocketlistings.net .Why? Here’s just one reason- our Real Estate Match™ service.

Every day, we receive multiple emails of off-market (not in MLS, not yet in MLS, pocket, temporarily off market, off the market for the holidays/summer etc.) listings and buyer needs emails from non-members of Pocketlistings.net . We see so many missed opportunities of matching a buyer need from one brokerage to a listing from another brokerage.

We’ve also noticed that many of these agents that email us are members of top agent networks. If top agent networks were an effective marketing platform, then why are these same agents sharing their “private listings” outside of these exclusive networks? We believe that top agent networks are an old school way to sell real estate. These membership networks only allow the sharing of listings amongst their group and are not searchable to anyone outside of that network. It doesn’t offer much more of a benefit than a mass email or sharing at an office meeting.

So make a New Years resolution not to waste time searching through old emails to find that pocket listing email or the buyer need email, from “what agent was it? ” “Did I see that email last week or was it last month?”  “What brokerage was that again?”

Let’s us do the work for you with Pocketlistings.net trademarked Real Estate Match™ service.

Once you post your pocket listing or buyer need, we do some behind the scenes magic to show you potential matches for that post that might be suitable to you and your clients. If no matches display right after you submit your post, don’t panic. We’ll email you as soon as a match hits our site, and we automatically produce a Saved Search/Match for your post in your Control Panel, which you can always login and refer to later.

The old way of selling real estate is one sided: seller markets property, buyers search. We let you do that too, but now there is a new kid on the block…Real Estate Match™, enabling both sides of the equation to be heard, and matches to be made. It’s dating for real estate!

announcebnmatchsuccessoval600

Your matches show up here in your Control Panel.

announcematchforpostincp600

Happy New Year, Happy Selling and Happy Matching! -Pocketlistings.net

PocketListings.net In The News “Remaking Real Estate, Again”

May 18, 2012 Leave a comment

Featured on SFGate (San Francisco) yesterday.

PocketListings.net

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]

“Off Market” Transactions Are The New Black

April 18, 2012 Leave a comment

We set out to create a community where agents could share off market listings and buyer needs (privately or publicly), and a site that will give buyers and sellers an alternative to their local MLSs. We knew a long time ago that there is more opportunity out there than MLS will allow, and that the way the current system is run is not entirely broken, but getting pretty darn close.

The argument for skipping MLS is always the same, “You gotta expose your property to MLS to get the best price.” We’ve heard it a thousand times over. It’s simply not true. That is the old way of thinking. The new way of thinking is that a good price is what a buyer is willing to pay, and what a seller is willing to accept, and exposure can come from any number of online or offline channels (Facebook, Twitter, LinkedIn, Instagram, Pinterest, email, etc.) None of these companies or “social networks” existed when MLS was created…neither did the Internet! MLS was designed prior to the internet and the free and open exchange of information…and WAY before social networking.

We envision an age where licensed real estate professionals are connecting through multiple channels and creating relationships with colleagues and clients alike that foster transactions from one person to another regardless of whether it’s “on” or “off” the market. If your home or property is for sale, it’s “on” the market. It’s as simple as that. And if you get the price you want, the rest is irrelevant.

Perhaps the very location that is changing the world with their technology (Silicon Valley) should be a lesson in what we have in store:

Gautam Nadella, who works in management at Cisco Systems, Inc., said he and his wife bought their five-bedroom Menlo Park home before it went back on the market, after their agent told them it would be available.

There is something to be said of taking uncertainty out of the selling process and the buying process,” Nadella said. “We were able to move quickly, calmly, with 100 percent confidence that the deal would get done, and as a result we did not have to go through the bidding process.”

We aren’t simply creating an environment to share “off market” real estate, we’re creating an alternative to the current system. Don’t fight technology and advances in our industry. Embrace, encourage, and promote change. You will do more deals. You will have more happy clients.

In Silicon Valley Real Estate Frenzy, Off Market Transactions Are Frequent [Bay Citizen]
PocketListings.net

Long Time No Blog…An Update On PocketListings.net

March 16, 2011 Leave a comment

It’s been a while since we did a blog post here, as we do most of our updates on our Facebook Profile, but we thought it time to just remind everyone who happens upon this blog that we are very much open for business, but also very much in a “holding pattern”, as we like to call it.

Although the launch of our Beta version was successful beyond what we had expected, there are TONS of things we want to change. We thought the industry wanted one thing, but it turns out they want more! As a result, we have put all marketing efforts for this version (except a bit of Facebook and Twitter) on hold.

Our site continues to see a steady flow of traffic, new users, and increasing page ranks on all of the major search engines. We have agents joining us in California, New York, Arizona, Michigan, Illinois, Maine, Massachusetts, Texas, Utah, Kansas, Florida, Georgia, and many more. Word is definitely spreading and we’re diligently working towards a solution to all of the foibles of the current way real estate is marketed, and the mistakes we made with our Beta version (but that’s why it’s Beta!)

We appreciate your patience and are thrilled to see you telling your colleagues and using our current version, and can only say, “Just wait til you see what’s next.”.

Sincerely,

Alexander Clark
co-founder

Press: “Is that a listing in your pocket? Pocketlisting.net goes beyond the MLS”, SFGate.com

November 24, 2010 Leave a comment

It’s time we start sharing some of the press we’re getting with you. Any writers/editors out there want more information, just give us a shout. We’re also cut/pasting the entire articles in our posts here as many of these links expire over time.

Recently on SFGate.com:

Most every successful agent in residential and commercial real estate has at some point either had clients looking to quietly sell their property, or a buyer that needs something that is simply not available on MLS.

Up to now, those quiet sell listings have been called pocket listings, and as the name implies, kept basically under wraps. They might be shared within a brokerage via email or at meetings, but because brokerages in the past haven’t communicated with each about these off market homes, the exposure for these pocket listings could go maybe to 200 agents, max. With such a limit on exposure, the chances are slim for an off market match to be made.

But what if agents could market these pocket listings to a few thousand of their colleagues, and get them out to the public but in a way that still allowed them to control the seller’s information and privacy? Now, with Pocketlistings.net, they can.

Most sellers choose to pocket list their property because they do not want public exposure. In this economy that might be hard to fathom, but these are not sellers in a hurry. They do not want to put up a sign on their home; they’re uninterested in people knocking on their door at dinnertime for a tour of the home; they loathe the idea of multiple open houses. They just want to sell….quietly.

Still, most agents argue for listing properties on MLS because without the apparent huge exposure MLS gets you, selling becomes difficult. Pocketlistings.net is going to change all that, offering considerable exposure to every post while still keeping the privacy secure. Essentially, the creators of the site want to kill the argument that pocket listing won’t get you enough exposure to sell your home.

Pocketlistings.net bills itself as Craigslist meets Google meets Match.com (Reportedly, their next version will have much more of this matching) for off market, or not on MLS real estate opportunities. Since all data is user-generated, the agent and his or her client control how much, or how little to reveal. Addresses are not displayed, but photos may be (or not: totally up to the seller and agent). These posts are then searchable by factors such as city, state, zip, neighborhood, property type, or keyword.

So how does this technology help buyers?

Anyone can search Pocketlisings.net, opening a whole new world for properties that might meet your criteria if you can’t find said properties on the MLS. But, in a move that puts the relevance back in Realtors, only an agent can access the contact info and/or photos on a post. That means buyers need agents to make use of this resource.

Upshot: If you are a buyer that has seen everything on MLS, your agent can also post a want ad specifying your needs in hopes of finding a match from a seller not listed on the MLS.

How does the technology benefit sellers and their agents?

Pocketlistings.net’s creators have made use of the rapidly advancing technology available to them. To increase exposure of each post, Pocketlistings.net feeds every post (pocket listing or buyer need) to their Twitter page (@PocketListings), where anyone can search and follow every post on their site, or posts for specific cities by using Twitter hashtags (#plyourcity). The site is also on Facebook, and in future versions will make much more use of social media.

For now, it is entirely free to post a pocket listing or buyer need, and to access contact information and photos– but only if you are licensed real estate professional holding an active license in your area. So, no: no FSBOs.

Within its first two months of going live, the site has agents in Miami, Los Angeles, San Diego, Scottsdale, San Francisco, Palo Alto, Concord, Portola Valley, Indianapolis, Kansas, and many more areas. Here too Pocketlistings.net diverges from the MLS. Instead of having to get access to each city’s individual MLS data, agents and buyers can access nationwide listings all in one place.

The founders of Pocketlistings.net put their service as follows:

The MLS online versions you see today are fashioned off of what they used to be when they were giant sized books (think phone books) that were delivered to different brokerages in each city and county. The thought process is still the same, but things have changed, and are getting a bit out of control.

Pocketlisting.net, in a nutshell, was founded with the intention to create a marketplace for non-MLS opportunities, and to keep any and all leads going right back to the original source: the agent that posted it. Because there is no feed to other sites, buyers will not see the days on the market (DOM) data that is tracked on homes listed publicly. Also, since agents alone control the information, formerly public info such as price reductions, property history, failed escrows, and apple-to-apple comparisons will no longer be problems that dog sellers and weaken their negotiating power.

So doesn’t this take away buyer power?

Sure, some people will find this control infuriating. Knowing the DOM, the price reduction history- these factors give power to the buyer! But buyers too might enjoy access to homes not publicly listed, know that their agents have the freedom to negotiate everything (including commission), and they can offer on a property free from potential bidding wars and publicity.

In any case, no one should be surprised that Realtors have seen the writing on the wall. They handed their MLS information out to the world, and may have shot themselves in the foot in so doing. But as the industry changes and people perceive less need for agents, smart agents, with companies on their side, will change in ways that make them relevant again. Maybe Pocketlistings.net is going to pull off a real estate revolution? We’ll have to stand by to see, especially when the creators launch their newest version, which will, to quote them directly “blow you away.”

What kind of homes are on the site now?

Everything from studios to single-family homes are already waiting to be discovered on Pocketlistings. Here are a few (click to visit them):

1. Noe Valley single-family, winner of multiple SF design awards (expired link)

2. SF studio condo (expired link)

3. Large Laguna Niguel (So. Cal) single-family (expired link)

Read more: “Is that a listing in your pocket? Pocketlisting.net goes beyond the MLS” [SFGate.com]

The First Success Story Is Confirmed In San Francisco On PocketListings.net

September 20, 2010 Leave a comment

With little less than 10 days on PocketListings.net it is 2185 Bush #206, San Francisco, CA that is now in contract.

The story is the buyer was browsing our site, searched “Lower Pacific Heights”, came across this post, contacted her buyer’s agent, the buyer’s agent contacted the “listing agent”, the property was shown, an offer was made (over asking), negotiations were done (including commission negotiations on all sides), escrow will be opened today.

The buyer is getting an excellent property in an A+ location at a great price, and no stress of other buyers coming into the picture. The seller is relieved not to have had to touch up, paint, repair, do open houses, stage, and everything that goes along with placing your home “on the market”. Not to mention, should all go as planned, this deal will close shortly after the tenants vacate. Contingencies should be removed right about the time the tenants move out, which will hopefully give the seller piece of mind and a definitive answer as to whether it will need to be placed on MLS.

For now, score one for PocketListings.net!

[Full Disclosure: This pocket listing is held by our co-founder, but that doesn’t change the chain of events one bit.]