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Pocket listings are the hidden treasures of real estate. Or, at least, they seem to be. There’s a real appeal in finding a perfect house for sale that hardly anybody knows about.
Yet, pocket listings aren’t as rare as you might think. About 1.2 million homes were sold through pocket listings last year, according to BatchService, a property research company. Most were in Texas, Florida, and Georgia. So, what’s the deal with pocket listings?
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A pocket listing is a home for sale that isn’t generally advertised to the public. It doesn’t appear on home search websites or a multiple listing service (MLS), won’t be featured on social media, and there’s no for-sale sign out front. And absolutely no open houses. Only mortgage brokers or a select few real estate agents know about it.
A pocket listing may also be called:
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Off-market listing
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Quiet listing
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Whisper listing
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Private listing
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Exclusive listing
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Shadow listing
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Pre-market listing
MLS listings drive local housing sales. The database shares details of homes for sale in a particular market with real estate professionals and clients. Pocket listings don’t appear on this massive marketplace but are held by a few in-the-know brokers or agents.
The holders of pocket listings present these properties to potential buyers through direct contact or private showings.
Related: How to sell your house, from preparing to closing
Sellers may prefer marketing their property through a pocket listing for privacy reasons. They could be high-profile local residents or simply don’t want the general public to know their house is for sale.
Pocket-listing sellers may also want to limit showings to invitation-only prospective buyers to test possible asking prices before listing the home publicly. Off-market listings also don’t reveal how long a property has been for sale — just in case it’s an acquired-taste home that will likely linger on the market.
A March 2025 study suggests that not listing a property with an MLS may result in homeowners receiving an average of 1.5% less in a sale, or nearly $5,000.
According to new Zillow research, home sellers in communities of color, such as majority Black, Hispanic, and Asian American neighborhoods, are particularly impacted. Houses sold in these areas through off-market listings garnered 3.2% less than those listed on an MLS. That amounted to a typical sale price of $9,850 lower than if they had listed the house publicly.
To find a pocket listing as a buyer, you’ll have to contact several real estate agents and brokerage firms and express your interest in a privately marketed property. Also, look for properties listed as “coming soon” on real estate websites such as Zillow. Those are premarket homes expected to be listed within a few weeks.
A close relative of pocket listings are for-sale-by-owner properties, which are homes sold by the owner without using a Realtor. FSBOs are also usually excluded from MLS services and get less public exposure. Websites such as ForSaleByOwner.com can be a resource for finding these homes.
The National Association of Realtors banned pocket listings, with a few exceptions, in 2020. Of course, real estate agents who aren’t members of NAR don’t have to follow the Clear Cooperation policy. The ban has been legally challenged since its implementation, with another claim currently pending.
However, NAR modified its policy on March 25, 2025, saying it would now allow a “delayed marketing period.” While the overall policy has not been rescinded, sellers can postpone public marketing of a property for an undetermined period of time, somewhat limiting exposure of the home to the mass market.
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Sellers can test the market for a home’s demand — and ultimate asking price.
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Buyers often view homes that have been on the market for a long time more negatively; with pocket listings, people won’t know how long the property has been for sale. This is especially useful for houses so distinctive or expensive that there is limited demand.
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Since the exclusive listing agent has vetted them, potential buyers will likely be well-qualified.
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With less exposure, sellers may receive fewer offers.
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A sale may take longer since the house is not shown to a mass market.
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Homes not listed on an MLS sell for less, according to Zillow research.
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Pocket listings can be hard to find.
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It may be challenging to gauge a fair-market or comparable price.
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Properties are often in the higher-price category.
Read more: How a jumbo loan helps you buy a more expensive home
For a small number of sellers, it may be a good idea to maintain privacy and limit “just-looking” home tours. For buyers, it can be a good way to snag a unique property.
It can be, though an off-market property may also include homes temporarily unavailable for showings. Perhaps repairs or improvements are being made, or other circumstances require that the house not be open for viewings for a while.
The Top Agent Network (TAN) sued the National Association of Realtors in 2020 because of its anti-pocket listing policy. TAN, a listing company, says it limits competition and restricts sellers’ freedom to choose how to market their property. In light of NAR’s recent policy modification (mentioned above), it’s unclear if TAN will continue pursuing legal action.
This article was edited by Laura Grace Tarpley.