The Complete Guide to Understanding the Packet List

According to BatchService and ResiClub Analytics, there were an estimated 1.2 million “package listings” or off-market home sales in the United States in 2024, with the majority occurring in Texas and Florida. Package listings are more common in some parts of the country than others, but it’s important to be familiar with them no matter where you are.

In this article, we will include an explanation of the package list, the pros and cons for both agents and sellers, and how to trade off-market legally and ethically. Also, we will give you marketing ideas to promote your package listing.

What is a package listing in real estate?

A pocket listing — also known as a silent listing, off-MLS or off-market listing — is a real estate property that is sold but not listed on the Multiple Listing Service (MLS). Instead, the property is marketed privately through a listing agent network, direct contacts or specialized forums.

Over the years, the term “pocket listing” has developed a negative connotation, as people sometimes think that this is just a trick used by cunning agents to split the work and not get the highest price for the seller. While I’m sure there are cases where this is unfortunately the case, there are good reasons why selling off-market is a seller’s advantage.

Pros and cons of agent package listings

• The possibility has two sides. The chances of a listing agent selling a package listing to a direct buyer outside of their agent increases significantly with a package listing. This can translate into a higher commission, depending on how your contract with the seller is drafted.
• Reason to call your buyer’s leaders. Off-market listings are a great excuse to call all those lead buyers on your website. Selling a package listing positions you as an effective agent with valuable information these buyers would otherwise not have access to.

• More work. Not being able to raise the reach of the MLS and all the aggregator websites to promote a pocket listing means it’s up to you, as the listing agent, to spread the word. We will give you ideas on how to do this in the next section. Sure it can be done, but it’s more uplifting than regular sales.
• Fewer sales opportunities. Another great benefit to working agents and sellers is the great marketing opportunities that come with each listing: yard signs, open houses, social media content, local door knocking – these are just a few of the many ways to leverage. your MLS listing to get more clients. Most, if not all, of those opportunities are lost with a pocket list.

Pros and cons of package listings for sellers

• Eligibility: In a mostly residential area, it’s much easier to have fewer buyers coming into the house – fewer times that sellers will need to get the place “show ready.”
• Privacy. Some sellers do not want their neighbors to know that they are selling. One salesman asked me to park on the street during our first meeting so that his neighbors wouldn’t see my car in his driveway and ask him if he was selling. This can be especially true for fancy homeowners who don’t want the looky-loos to see the interior of their home published all over the internet.
• Perfect for celebrities. Selling as a pocket list is a popular choice for athletes and celebrities who need a high level of discretion, often using LLCs instead of their names to buy and sell property.
• Life. Since there are usually no open house weekends and plenty of private showings on the packing list, there will be fewer buying bugs entering the house. For some sellers, this is a major concern, and selling off-market may make sense.

• Lower selling price (probable). There is a risk that sellers may be leaving money on the table by not maximizing the exposure of their product to as many buyers as possible. Generally, the more buyers see the property, the more offers sellers will accept and the higher the offer will be. Of course, this isn’t always the case, but sellers considering pocket listings need to be aware of this.
• Long sales period. Because pocket listings are not advertised through the MLS or high-end real estate listings, they often take longer to sell. It takes a long time to get a site in front of enough buyers to find the right one willing to offer the right price.

How to market your package listing

Marketing package listings come with a different set of challenges compared to regular listings. You won’t have average sales and broad access to all buyer matches in your MLS, so you’ll need to get creative. Here are our top ideas on how to market your package listing:

• Start with the customers you already have. Perhaps your new packing list is similar to one of your buyers who has been searching for the perfect home for months. If so, great! Just be sure to follow your local guidelines regarding dual agency.
• He picked up the phone. Yes, it’s old school. Yes, it works. And yes, I did it myself. For those of you who dread making phone calls, let me assure you: these are very easy calls to make. Some agents will appreciate you telling them about a new piece of inventory to share with their buyers, especially if you’re in a tight seller’s market with low inventory. Other agents are your most likely source of finding a buyer for your off-market listing.

• Share your packet on the list with your office. Many brokerages have a place to advertise off-market listings internally (ours is a Facebook group just for our agents).
• Share it with other local offices. It may sound strange, but you can call or stop by other brokerages with information about your listing package and ask the manager/recipient to share it with their agents.
• Hold an open house broker. Invite all the agents you talk to; this will give your listing more exposure while not staying on the public MLS. Of course, you will need your vendors permission and blessing for this.
• Post your package listing to as many local real estate agent Facebook groups as you can find. In my marketplace, there are at least four groups where I post all of our off-market listings, as well as all of our “coming soon” listings. If your market doesn’t have groups like this, create your own!

Are the packing lists legal and correct?

Yes, if done correctly. Make sure you cover all your bases and are on the same page with your salesperson regarding all aspects of marketing. For example, make sure they don’t want a yard sign or postcards going out on their property. Every situation with a seller is different, so have these conversations beforehand to set your expectations.

As long as you are 100% transparent with your broker about the pros and cons of pocket listings, you can be sure that you are acting ethically. Ultimately, it is up to the seller to decide how they choose to guide you in marketing their property. Just as there is nothing wrong with a seller who buys a sign from Home Depot and sticks it in the yard himself, there is nothing wrong with sellers who direct you to market their inventory secretly.

Although pocket listings are legal in all 50 states, the nuances and rules regarding pocket listings vary from state to state and MLS to MLS. Back in 2020, the NAR banned pocket listings, requiring all listings to be submitted to the MLS within 24 hours of signing the listing agreement. However, there are workarounds for sellers who don’t really want to be listed publicly.

In the Boston area where I’m based, we have a one-page document sellers sign on top of their listing agreement papers, which says they agree that their listing will not be listed on the MLS – we call it a non-MLS form. Check with your broker and make sure you are following the law and your brokerage’s guidelines.

How to get the package list

You may be wondering how to get a package listing. For the uneducated I will explain. Pocket listings are not what we are after as agents; rather, they are a useful tool or offering that you can present to your sales customers when the situation calls for it. There aren’t really any direct ways to identify sellers who would prefer to sell outside the market – without contacting the most expensive clients. If you’re already a premium brand seller, you probably have a disproportionate number of potential customers interested in a list of packages.

However, offering this method of selling a home can be an attractive conversion tool – a unique service you can offer to convert a seller. to lead be a the client – Package listing is not intended as a tracking method. Ideally, you’ll want to give the entire inventory as much exposure to sunlight (and potential buyers) as possible – unless the unique circumstances I’ve described in this article require a different approach.

Full picture

While pocket listings aren’t the best choice for every seller and come with their own set of obstacles for an agent, knowing how to talk about them and market them are useful tools in your real estate toolbox. You can bring this up as an option when meeting with a seller that would make sense for a pocket list sale.

Since businesses like your local MLS board or REALTOR may try to block pocket listings, there will always be situations for sellers that are best delivered through a private sale. I don’t see pocket listings disappearing for good anytime soon. Stay transparent, do what’s best for your client and follow local guidelines — that’s what matters most.

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