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Some big news emerged last week involving real estate listing. The National Association of Realtors (NAR) announced its decision to ban “whisper” or “pocket” listings from the multiple listing service (MLS). With this ban, MLS participating brokers must submit listings to the MLS in at least one business day once the property is being marketed to the public.

Before we continue, let’s examine what a pocket listing is. These properties are technically being sold but they won’t show up on the MLS when real estate agents browse it in search of properties to present buyers. Instead, the agent who has the pocket listing keeps it in his or her “pocket” and shares it with select agents in hopes of being referred to the right client. Think of it as if the agent had exclusive rights to the listing outside of the MLS.

It remains to be seen whether the new rules on pocket listings will result in significant changes to the way real estate agents go about promoting listings to clients.

This update is by hard money lenders Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on a hard money lender Orange County or a mortgage broker Orange County, please call 954-816-0388 or fill out our application.

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