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Pocket Listing Opportunity Cost Calculator
Pocket listings skip MLS exposure — compute the price give-up vs speed/privacy gain.
Net opportunity cost
$65,250
Price give-up
$72,000
Carry savings
$6,750
How the math works
Give-up = price × discount. Savings = (MLS days − pocket days) × carry.
$1.2M × 6% = $72k give-up. (45 − 18) × $250 = $6,750 carry savings. Net cost $65,250.
How to Use
- Enter expected MLS price.
- Enter typical pocket discount %.
- Enter MLS days on market.
- Enter pocket days on market.
- Enter carry cost per day.
- Read net opportunity cost.
Frequently Asked Questions
What is a pocket listing?
Off-MLS listing — property marketed privately through brokerage network, email blasts, or private-exclusive platforms (Compass PE, Realogy CCC). NAR's 'Clear Cooperation' rule (2020) requires MLS entry within 1 business day of public marketing. Pure private-exclusive listings remain allowed as long as no public marketing occurs. Common for luxury, celebrity, divorce, and pre-market staging scenarios.
Price impact?
Academic studies (Gilbert+Taylor 2019, NAR 2022): pocket listings close at 3-10% below MLS comp-adjusted fair value on average. Luxury ($10M+): delta smaller (1-3%) because buyer pool is limited anyway. Standard residential: delta larger (5-15%) because MLS competition drives bidding. Longer the pocket window, larger the discount because buyer senses reduced urgency.
When does it pencil?
(1) Seller privacy absolute (celebrity, sensitive divorce). (2) Pre-market tidy-up — 2-6 week pocket before MLS to find a miracle buyer. (3) Off-market inventory-constrained markets (Manhattan townhouse). (4) Tenanted commercial properties where listing disrupts tenant relationship. For typical residential sellers: MLS almost always wins on net price.
Compliance watch?
NAR Clear Cooperation: any public marketing (yard sign, open house to non-clients, public social post, website listing) triggers 24-hr MLS entry requirement. Violations fined $2,500+ per occurrence. Private-exclusive networks: Compass PE, Side, Coldwell Banker Global Luxury permitted but strict rules. DOJ ongoing antitrust scrutiny.
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