Pocket listings, quiet listings, and phantom inventory are always a part of the market. This is not a practice that the National Association of REALTORS® approve of, however. When dealing with high-profile clients, many do not wish to advertise their movements; these properties are sold by word of mouth. An attempt is made to get the seller to move out and then allow the home to hit the open market, making it fair for all. Yet, it is the seller's decision, and most choose a quiet sale. When an agent is a neighborhood expert, they will know homeowners who have said they "may" want to sell. Kids are off to College or they have added more; retirement, promotion, resizing, or downsizing are the most common reasons. Open houses are a great source of information. This is just cultivating possibilities. Pocket listings are sellers who contact their agent and say, "I want to sell," but you cannot publish them anywhere in print. Even when we explain you can't sell a secret, they expect a full price contract rapidly. Networking with other agents is the key to selling this phantom inventory. So many times another agent has exactly what I am looking for!
