pocket listing clause

Definition

A contractual provision allowing agents to market properties privately before hitting the MLS, theoretically to preserve privacy but occasionally to preserve the agent's double commission. The VIP room of real estate.

Example Usage

The celebrity insisted on a pocket listing clause to avoid having their mansion splashed across Zillow for every nosy neighbor to see.

Origin

Evolved from exclusive networking practices in luxury real estate circles

Fun Fact

The National Association of Realtors introduced the Clear Cooperation Policy in 2020 to combat pocket listings, requiring most properties to hit the MLS within one business day.

Source: Real estate brokerage practices

Related Terms

Beginner

earnest money deposit

See earnest money, but longer and more official-sounding. Because real estate professionals get paid by the syllable.

🏠 Real Estate

Intermediate

basis points

One one-hundredth of a percentage point, used to describe interest rate changes and fees without dealing with decimals. It's how mortgage professionals make 0.25% sound more important by calling it 25 basis points.

🏠 Real Estate

Advanced

quiet title action

A lawsuit to establish clear ownership when a property's title is messier than a reality TV custody battle. It's how you legally tell all the random people with claims on your property to take a hike.

🏠 Real Estate

Advanced

seller carry

When a property seller provides financing to the buyer, essentially acting as the bank and holding a note secured by the property. It's the real estate version of 'I'll spot you until payday'—except with six-figure stakes and actual paperwork.

🏠 Real Estate

Intermediate

balloon payment

A large, final payment due at the end of a loan term that covers the remaining principal balance. Named for its tendency to inflate your anxiety levels right before it's due.

🏠 Real Estate

Advanced

appurtenant

A fancy legal term for 'stuff that comes with the property,' particularly easements that transfer with the land rather than staying with the owner. It's the real estate equivalent of 'batteries included,' except it's more like 'right-of-way for your neighbor to cross your lawn included.' Lawyers love using this word to make simple concepts sound sufficiently billable.

🏠 Real Estate

Translate This Term

See “pocket listing clause” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

Try the Translator

Share This Term

Post on X Share on Facebook Share on LinkedIn

Discover a Term

Beginner

ykwia

You Know Where I'm at...