Are pocket listings illegal?
Keeping this in consideration, what does pocket listing mean?
In the real estate industry in the United States, a pocket listing or hip pocket listing is a property where a broker holds a signed listing agreement (or contract) with the seller, whether that be an "Exclusive Right to Sell" or "Exclusive Agency" agreement or contract, but which is never advertised nor entered into a
Likewise, what is a valid reason for a coming soon listing status? Typically, this status means the seller isn't ready to list the property as active and needs time to make updates, repairs, address legal issues, and so forth. The benefit to listing brokers is that they're able to gain exposure for their listings prior to active status.
Also know, are pocket listings legal in California?
A Yes. A pocket listing could be deemed as a breach of a listing agent's fiduciary duty to the seller if the arrangement is made for the benefit of the listing agent only, and is not in the seller's best interest.
Can you list on MLS without a realtor?
To list a home on the MLS requires a licensed real estate agent in most cases. But there are a few other options for those working without an agent, such as listing with a flat-fee service, or a website that accepts for sale by owner listings.