Sellers can still direct agents to make a listing an “office exclusive,” which means the agent can pass around information on a listing without putting it on the MLS or publicizing it. Under the policy, agents are required to post a listing to the MLS within one business day of marketing it to the public, which could be defined as a yard sign or online post about the property, says Rene Galicia, director of MLS engagement for NAR.

In 2020, the National Association of Realtors (NAR) implemented the Clear Cooperation Policy to help define the rules around these types of listings. Traditionally, an off-market listing has been called a “pocket” listing, in which a real estate professional hold the listing as a secret, and only share it with a select few.

This is in contrast to the vast majority of properties for sale, which are posted online by the Multiple Listing Service (MLS) and are easily available to real estate professionals and the public. When a seller and agent decide to set up an off-market home listing, they intend to share it with a limited audience of potential buyers.

Pocket list real estate