Sellers should understand ‘off-MLS’ or ‘pocket’ listing

So far in 2016, the Houston housing market has managed to stay on a par with last year’s record pace of sales despite layoffs and other challenges facing the energy industry. What we’re not seeing as much of as last year are the bidding wars that began almost the moment a home was listed for sale.

Nonetheless, one phenomenon we do continue to see is what is called an “off-MLS” listing. That is also sometimes referred to as a “pocket listing.” It basically means that a real estate agent represents the property but does not enter it into the Multiple Listing Service (MLS).

In most markets around the country, that might not be as big an issue as it is in Houston. If a home is not entered into the MLS, then it does not appear on HAR.com.

HAR.com typically gets between two to three million vis- itors in any given month. That’s a lot of consumers who wouldn’t otherwise see a property for sale. If you haven’t been to HAR.com in a while, I encourage you to check it out, as the site now displays property listings for the entire state of Texas.

Only your Realtor can list your property in the MLS—and get it displayed on HAR.com. If there’s one place you definitely want your home to be marketed when it is available for sale, it is HAR.com.

There are certainly other downsides to not having your home listed in the MLS as well.

Themore people who see your home, the more likely you are to receive an offer— and a higher offer. The more peoplew ho see your home, the more likely that itwill sell faster. The more people who see your home, the more likely that itwill result in an offer from a qualified buyer.

If your home isn’t on the MLS, you maywell be leaving money on the table.

While there are “hot” areas of town, there are also areas that are more “normal,” so youwouldn’twant to miss out on that one buyerwho has been looking for the perfect house (yours) but they never even knowit is available for sale.

Forwhat is most people’s most valuable asset, you obviously want to receive asmuch as possible for it when selling.

The MLS has been called the most successful marketing tool in the history of real estate, andHAR. com is arguably the most successful marketing platform throughout the greater Houston area, and also packs statewide reach.

Talk to your Realtor today about the MLS and why it is so important to have your property included on the award-winningHAR.com.

Mario Arriaga of First Group is the 2016 chairman of the Houston Association of Realtors/HAR.com.