In very hot markets, houses can sell within hours.īecause these interests and goals are often priorities for sellers using pocket listings, many benefits of a traditional listing - mass exposure, multiple bidders, potential foot-traffic - are almost irrelevant.
In hot markets, the average days on market is much lower. In January 2021, the national average for days on the market was 76, down 11% year over year, according to. 🏠 What's a typical amount of days on the market for a house? Potential buyers could become leery, wondering if something's wrong with the property that's keeping buyers away. 
A high number of days on the market can make a property stale. Those reductions are public and, to many potential buyers, they're a red flag. Sellers who initially overprice their property on the MLS may need to make multiple price reductions. Testing the market can be valuable because: Sellers can use pocket listings to evaluate their asking price before potential inclusion on the Multiple Listing Service (MLS). A pocket listing allows sellers to test the market It's a seller's rental propertyĪnd the seller doesn't want the tenants to know the house is for sale. It's not uncommon, for instance, for a buyer to negotiate with their neighbor to have first dibs on the neighbor's house if and when they should ever sell, so the buyer can have a family member move in next door. Why market a property widely when you already know a buyer and aren't interested in dealing with multiple bidders? A potential buyer has already expressed interest
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