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It may not contain off-market and private listings, properties with unknown sold dates and listings that may be exclusively listed on other websites. ... Of course, a listing agent is a fiduciary to the seller, and it is unethical to put your interests above your clients. Sold For sale For rent By Dale Swanton You’ve no doubt heard the term “exclusive” or “pocket listing,” referring to a listing that is not promoted on the MLS but is marketed to the listing agent’s brokerage only or to a select group of “in-the-know” agents. And pocket listings run against the cooperative nature of how houses are bought and sold. Article 1 of the REALTOR ® Code of Ethics ‘to promote and protect the interests of the client’ and Article 3’s duty to ‘cooperate with other brokers except when cooperation is not in the client’s best interest’ make the ‘pocket listing’ strategy a slippery slope. Q: You recently answered a question about a home seller paying the commission to an agent for a “pocket listing.” You bypass the larger issue and the reason that so-called pocket listings are against the National Association of Realtors (NAR) rules. Before taking or encouraging a non-MLS listing, a Realtor should evaluate the property and make sure that leaving it out of the MLS is the right decision for the seller. But when an agent effectively keeps a listing in his or her pocket, the system breaks down. Agents of competing companies work together – one representing the seller, and another, the buyer – to sell millions of houses every year. My gut reaction is that pocket listings are a questionable practice and borderline unethical and am surprised the licensing entities haven’t prevented them. Although not illegal or even unethical in and of itself, the practice is rather […] Why are pocket listings banned? Think of it as the agent keeping the property hidden in their back pocket rather than on the market. Non-MLS listings, or pocket listings, are not illegal or unethical when directed by the seller, but they do carry additional complications. Pocket listings are those that an agent keeps to themselves, showing to their own network of buyers or a select number of brokers they choose to. The property lists contain all properties Pocket Listings have sold and listed on realestate.com.au. Explaining the reasoning behind the National Association of Realtors (NAR) banning pocket listings. A pocket listing is a real estate term that refers to any property a broker or agent holds a signed contract with but that’s never advertised on a multiple listing system (MLS). But, that is just my gut reaction and I have an open mind and am willing to entertain counter points. 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