Pre-MLS and Pocket Listings Now Have a Home

While there is mixed opinion in the real estate agent community about ‘pocket listings‘, properties that are promoted privately through a real estate agent’s network ahead of entering the local Multiple Listing Service (MLS), one thing seems clear: the number of homes sold outside of the MLS or with little or no MLS exposure now makes up a significant portion of transactions in many cities across America. Numbers as high as 50% have been quoted but most commonly 20% to 30% has become the norm in many large metroplexes and this number is not going anywhere soon.

With the advent of easy communications tools such as mobile telephones, email, messaging and social media, it should be no surprise that real estate agents are using any means necessary to get the word out about a property or a buyer need. But let’s face it, promoting a pre-MLS or pocket listing or buyer need is time consuming and painful. It’s an afternoon of emailing, calling and text messaging, followed by often the same reply over and over again. Many advocate that real estate agents should immediately enter the property into the MLS to give it the most exposure but does this stop the real estate agent calling and texting his network? What about buyer needs? real estate agent’s know their MLS is not going to have every available property in it so have little choice but to reach into their network.

It’s about a Community, not a listing service

At this point some would say, “Let’s open up a Pre-MLS Multiple Listings Service!”. Through the lens of a real estate agent this would be natural. After all, the MLS subscription is often seen as a big part of the value a real estate agent brings to their clients so replicating it for pre-MLS and pocket listings would seem appropriate. At HipPocket though, we see things differently. We believe real estate agents have a communication and network problem and a different solution is required to solve it.

Communication Challenges

  • Administrative Burden: real estate agents spend an inordinate amount of time on marketing administration promoting their listings and needs to other real estate agents when they could be focusing on signing new clients.
  • Repetitive: real estate agents have multiple conversations, often repetitive through a plethora of channels. There is no unified tool that enables a real estate agent to have one conversation with the entire community about a listing or need.

 

Network Challenges

  • Limited Reach and Not Scalable: real estate agents market to real estate agents they know or at least have their email/phone number for. This is generally a fraction of the real estate agent community and restricts the ability of the real estate agent to finding multiple buyers willing to offer the best price or finding that hidden gem for a buyer. Additionally, it’s impossible to effectively communicate with an entire community when so many communications channels are used.
  • Restricted Groups: Access to private real estate agent Facebook Groups and other ‘exclusive’ membership based services is either difficult to obtain, expensive or comes with conditions and expectations.

 

Introducing HipPocket | The Private Real Estate Agent Network™

88% of real estate transactions in the US involve a real estate agent. They are the linchpins in the end-to-end real estate transaction process. We believe the biggest value a real estate agent can bring to a client is how fast they can connect a property to a real estate agent representing a buyer or a connecting a need from their client with a real estate agent representing a seller of a property that matches their need.

Welcome to HipPocket—the missing link real estate agents have been craving for:

  • Private real estate agent community that ALL licensed real estate agents can join
  • Unified solution designed to be familiar and intuitive, and delivered on a real estate agent’s most important tool—their mobile telephone
  • Marketing tool to instantly and privately market pre-MLS and pocket listings to other real estate agents
  • Social network to connect with and share to that consists of many more real estate agents than a real estate agent can effectively manage personally
  • Search platform for off-market listings and quietly marketed pre-MLS listings, and eventually a ‘matchmaking’ tool connecting sell-sides and buy-sides instantly

 

Our goal is to give every real estate agent the most compelling weapon in their arsenal as possible. We know we have a long way to go but with the help of real estate agent communities all over America, we believe HipPocket can become the One Network Built by Real Estate Agents for Real Estate Agents™ and be the entry point for all listings from a nationwide community of real estate pros.

Download from the app store

James Bohan-Pitt

James Bohan-Pitt, CEO & Co-Founder of HipPocket. James is a technology entrepreneur with extensive experience in sales, product strategy, product development, operations and marketing. He has been a founder of several companies and worked in three early stage Fidelity Investments telecoms and technology portfolio companies. HipPocket is the culmination of his thoughts of using technology to ‘disrupt the paradigm’ and change the way the real estate industry operates from a communications and marketing stand point.

More Posts

Leave a Reply

Your email address will not be published. Required fields are marked *