RealTown Words

Pocket Listing

A listing that is retained by the listing broker or salesperson, and is not made available to other brokers in the office or to other multiple listing service members. This practice is strongly discouraged by the profession and is forbidden by many brokers’ offices. Under MLS rules, a member must generally report any new listing except for commercial listings, which may be optional, within a short time—two or three days after obtaining such a listing.

This "Word of the day" is excerpted from The Language of Real Estate, 6th Edition by John Reilly (published by Dearborn Real Estate Education, 2006 copyright). To purchase the complete book, with over 2800 key terms and definitions, or to browse through Dearborn's hundreds of other professional real estate titles, including Real Estate Technology Guide by Klein, Barnett, Reilly, click here.