PocketListings
One of the biggest trends in real estate involves Realtors unveiling listings before they hit the market.
This allows them to build buzz for properties and theoretically close quicker deals.
P
ocket listings have
been a part of the
real estate trade
for decades, allow-
ing lucky buyers to
get a heads-up on potential list-
ings before they are announced
to the masses. Instead of employ-
ing such word-of-mouth strate-
gies, coming-soon listings actually publicize
the pending listing of new properties.
This allows for broader market reach and
stirs the excitement for buyers looking for
any edge they can get. From a seller’s per-
spective, coming-soon listings can help in-
crease the amount of interest and offers
from the buying pool. This can lead to expe-
dited transactions and a more seamless sell-
ing experience.
How it works
The San Francisco Association of Realtors
recently implemented a coming-soon sta-
tus for its 4,000 members. Listing agents are
able to enter listing details into digital soft-
ware under the “new status” up to three
weeks before the listing automatically be-
comes active. Agents also can add docu-
ments, virtual tours, marketing materials
and showing details to the listing while it re-
mains in coming-soon status.
The results of such listings have been
promising for Realtors, buyers and sellers
alike. An MLSListings study found that com-
ing-soon listings in five Northern California
counties increased from 15 percent in 2012
to 26 percent during the first quarter of 2013.
Become a member
If you want to be in the exclusive group
of a real estate company, you may consider
signing up with your brokerage’s member-
GLOSSARY OF REAL ESTATE TERMS
Annuity: Regular fixed payments or receipts over a
designated period of time.
Balloon payment: The final payment of the bal-
ance due on a partially amortized loan, including
those built for contract for deed transactions.
Capital gain: Taxable income derived from the sale
of a capital asset, such as real estate.
ship group. This can be as simple as provid-
ing your name and email address on the
agency’s website. You will receive promo-
tional emails, new deals and exclusive prop-
erty announcements.
Liquidation value: Likely price that a property
would bring in a forced sale, such as a foreclosure
or tax sale.
Cost of occupancy: Expenditures required to main-
tain occupancy of a space, including rent or mort-
gage payments.
Property type: Classification of real estate that is
broken into four main types (retail, industrial, office
and multi-family).
Due diligence: The act of examining or investigat-
ing a property and all related documents. Conduct-
ing your own due diligence before a real estate
transaction can save time, money and legal issues.
Proprietary data: Information obtained from pri-
vate firms that hold the exclusive rights to manu-
facture and distribute such content. The information
generally covers business, sales and market-poten-
10 | Property Lines: At Home edition 2015 | www.dailyastorian.com
If your local brokerage does not offer
coming-soon or pocket listings, odds are
that they will in the near future. The indus-
try evolves to meet the demands of its
audience.
tial data to a targeted audience.
Rent escalators: Items specified in a lease, such as
base rent, operating expenses and taxes, that are el-
igible for increase by predetermined amounts at
stated times.
Street-based mapping: Tracking applications that
allow the user to map objects such as commercial
properties or retail establishments by street address.