Pocket Listings--Be an Insider and Profit

Topics:
Market Studies
Tags:
Agent,
Business Operations,
Property,
Real Estate,
Sign
Source:
realestatelink.net

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Overview: One of the most frustrating things early in real estate investing career was to see a “For Sale” sign go up on a listed piece of property, call the agent that same day, and hear that the property went under contract the day before the sign was even put out. The article explains the “fixer-upper” listing. The agent then “pockets” the listing, offering it to a few insider investor clients. One of these investors sweeps it up, and the deal never hits the larger market. By the time one see the sign, it’s too late. In some areas, a surprisingly high percentage of the houses sold fall into this category, with the agent selling the property before it is even on the market.

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Format: HTML | Date: Jan 2003 | Pages: 1

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