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What Is a Pocket Listing? An Unlisted Home for Sale
Pocket listings are for-sale homes that real estate agents purposefully keep off the Multiple Listing Service in order to look for an ideal buyer.
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Robin Rothstein is a NerdWallet writer specializing in housing market trends and home lending topics. She has been writing about residential real estate since 2021. Before joining NerdWallet, Robin was a senior writer at Forbes Advisor producing high-performing content on mortgages, loans, and personal finance topics. Robin is also an Off-Broadway-produced and published playwright. As a longtime homeowner, she follows local land-use issues, which inspired her to write the short play, “Grassroots,” about a cherished local bar forced to close due to high rents. “Grassroots” is included in The Best Ten-Minute Plays 2021, published by Smith and Kraus. Robin is based in New York City.
Chris Jennings is a NerdWallet editor specializing in home lending topics. He has been writing and editing about mortgages and personal finance since 2016. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. Before joining NerdWallet, he wrote and edited content for a number of respected finance brands, including Bankrate, Forbes Advisor, and GOBankingRates. Born and raised in the Chicago suburbs, Chris now calls Los Angeles home, where he lives with his wife and their dog.
Kate Wood is a lending expert and certified financial health counselor (CHFC) who joined NerdWallet in 2019. With an educational background in sociology, Kate feels strongly about issues like inequality in homeownership and higher education, and relishes any opportunity to demystify government programs. Prior to NerdWallet, she wrote about home remodeling, decor and maintenance for This Old House.
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A pocket listing is a home that's for sale but isn't publicly listed or marketed. A real estate agent shows the home to potential buyers privately rather than immediately putting it on the public-facing Multiple Listing Service, or MLS.
Supporters of this sales approach argue that pocket listings help home sellers maintain privacy — whether they’re high-profile figures or someone navigating a divorce.
But the practice has drawn criticism, with opponents arguing it benefits well-connected and high-earning agents while reducing market access for minorities and less-connected buyers. In response, the industry has addressed concerns surrounding these controversial listings.
Pocket listings are not technically illegal, but the National Association of Realtors (NAR), the largest professional organization for real estate agents in America, effectively banned most pocket listings in 2019 with its introduction of the MLS Clear Cooperation Policy (CCP).
The policy aims to ensure cooperation among real estate agents (making all agents' listings widely available on the MLS) and fuel competition (giving all buyers a chance at a listing and sellers the opportunity to get the best price).
According to the NAR handbook, "Within one business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants."
The policy went into full effect in May 2020 and real estate agents who are NAR members must comply.
Since its adoption, many NAR members have voiced their displeasure with the policy. Startup pocket-listing platform PLS.com refiled its antitrust lawsuit against NAR in July 2025, arguing that the CCP stifles consumer choice. Real estate agency Compass continues to push back as well, refusing to fully comply and opting to submit listings to the MLS on a market-by-market basis.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
N/ANo score credit options are available.
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0%Provides DPA assistance for no down payment options.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
0%On VA loans, NBKC offers down payments as low as 0%.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
N/ANo score credit options are available.
Min. down payment
0%Provides DPA assistance for no down payment options.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%Rate offers conventional loans with as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
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580580
Min. down payment
3%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
N/ANo score credit options are available.
Min. down payment
0%Provides DPA assistance for no down payment options.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3.5%First-time home buyers may qualify for 3% down mortgages at Rocket.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
0%Veterans United offers VA loans for as little as 0% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
0%On VA loans, NBKC offers down payments as low as 0%.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
N/ANo score credit options are available.
Min. down payment
0%Provides DPA assistance for no down payment options.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%Rate offers conventional loans with as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%Rocket Mortgage offers conventional mortgages with as little as 1% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3%AmeriSave offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
720720
Min. down payment
N/ANBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NAR’s “Multiple Listing Options for Sellers” policy
Following months of discussions with MLS leadership and industry leaders, NAR adopted Multiple Listing Options for Sellers in September 2025, a new MLS policy designed to function alongside the CCP.
According to an NAR statement, the new policy updates and expands listing options for sellers and their agents, providing greater flexibility in their approach to marketing a property. Here’s a quick breakdown of the primary changes for sellers:
Office exclusive: This option is what is considered a true pocket listing. With this method, the seller directs the agent to share the property only within the brokerage, keeping it off the public-facing MLS to maintain privacy. The listing must still be filed with the MLS but is not visible to MLS participants.
Delayed marketing: With this option, the property is listed on the MLS, but the seller has elected to delay publicly marketing of the property through Internet Data Exchange (IDX) feeds and syndication platforms (such as Zillow or Homes.com) for a set period. Meanwhile, sellers and agents can market the property in whatever ways align with the seller’s goals, while keeping the listing accessible to MLS participants.
How the NAR 2024 commission settlement set the stage for pocket listing reforms
In 2024, a seismic shift rocked the real estate industry.
The NAR agreed to a $418 million settlement for a series of lawsuits that completely revamped some of the industry’s entrenched norms — most notably, the way real estate agents are compensated.
As the lawsuits were unfolding, NAR had already adopted the CCP, designed to curb opaque practices, like pocket listings, to ensure broader access to homes. The Multiple Listing Options for Sellers policy maintained the CCP’s guardrails for pocket listings while also accommodating sellers who sought more control over privacy and marketing.
Brought about by home sellers who argued that the traditional agent compensation structure artificially inflated commissions, the settlement-driven reforms effectively ended the long-standing practice of sellers covering both their own agent's and the buyer’s agent’s commission. The verdict also included the removal of broker-compensation offers listed on the MLS.
Under the new rules, buyers must sign agreements that outline the exact compensation and service their agent will provide. Meanwhile, sellers can still continue to negotiate terms with their listing agent and offer buyer concessions or buyer agent commissions off the MLS.
Why do buyers seek pocket listings?
They want a competitive edge. In a hot real estate market with limited inventory, buyers might try to find pocket listings simply to get an edge on the competition. By making an offer before other buyers even know a property is for sale, some buyers think they have a better chance at getting an offer accepted.
They want access to exclusive properties. Qualified buyers seeking a luxury home or a property with unique features may feel they are more likely to find inventory that matches their preferences and is curated to their lifestyle.
They want privacy. Buyers who value discretion and prefer keeping a low profile may prefer going this route to avoid broadcasting their home search.
There are at least a few reasons why home sellers might want to keep their properties off the MLS.
They want privacy. Pocket listings can be an attractive option for sellers who want anonymity. They provide total control over who has access to the property and when.
They'd like to test the market. Sellers can use a pocket listing to see how well buyers will respond to their home’s price. For example, say the seller's initial asking price is way too high. With a pocket listing, they can adjust the price without it appearing as a price drop on the MLS. If a "coming soon" period is like a soft launch for your home listing, a pocket listing is like beta testing.
They plan to sell to a specific buyer. The seller might already have a buyer in mind, whether it's a family member or someone who's always said, "You know, if you're ever looking to sell this place…" In these instances, sellers sometimes will retain a listing agent simply to sell their property directly to that specific buyer.
Pocket listings can be problematic for both home buyers and sellers.
By their nature, pocket listings limit a property’s exposure to potential buyers. From a seller's perspective, that might mean missing out on the best offer; they can't be sure that the hand-picked buyer actually had the strongest offer.
On the buyer side, not only are home shoppers losing out on listings, but there's also the potential for listing agents to violate the Fair Housing Act when they choose who can see a home. And because the CCP restricts broad marketing for pocket listings, this behind-closed-doors approach can make discrimination harder to detect and prove.
Did you know...
Pocket listings may also negatively impact home values. If a home's sale is not entered in the MLS, it won't show up as a comparable listing when agents or appraisers try to determine how much a property is worth.
Ways to uncover homes for sale
If you're serious about buying a home, a good buyer's agent may be your best asset. Not only will an agent help you with making an offer and negotiating with the seller, but a well-connected agent will also get listings in front of you the moment they hit the MLS.
But if you're still having trouble finding homes for sale in your area, here are a couple of more ways you might unearth "hidden" listings.
Search FSBO homes
For sale by owner, or FSBO, homes can be bargains, but they're often hard to find.
FSBOs aren’t usually shown by typical real estate agents, unless the property is registered with the local MLS. You can search for FSBOs on websites like FSBO.com or ForSaleByOwner.com, but also keep your eyes open for FSBO lawn signs.
If you don’t mind a fixer-upper, searching for a foreclosed home on dedicated sites like Foreclosures.com and Auction.com can surface properties you might otherwise miss.
Fannie Mae may also be worth a look. Through its HomePath program, the mortgage giant lists its real estate-owned (REO) properties on HomePath.com where eligible buyers can hunt for a deal. Some banks also post REO listings on their own websites or at local branches.
Don’t overlook print either. Lenders must publish a notice in a local newspaper when they reclaim a property due to default.
Ask your network
Make sure everyone you know knows you're looking for a house. They don't need to know your budget, but location is a must. That might mean posting about it on Facebook, mentioning it to your coworkers, talking to the people in your yoga class — really, just getting it out there. You never know who might know someone who's about to put a house on the market.
