Pennsylvania License Law
What is a 'pocket listing' and what disclosure obligations does it create for a Pennsylvania licensee?
AA listing kept 'in the pocket' of the broker for personal investment purposes
BA listing that is not placed in the MLS, where the broker may have a conflict of interest; PREC and NAR rules require disclosure of the seller's decision not to list in the MLS✓ Correct
CA confidential listing for high-net-worth clients who want privacy
DA Pennsylvania term for an expired listing that is not renewed
Explanation
A pocket listing (off-MLS listing) keeps a property from the public MLS, potentially limiting exposure and buyer competition. Pennsylvania brokers handling pocket listings must disclose to sellers that off-MLS listings may result in fewer offers and lower prices. NAR's Clear Cooperation Policy (adopted by most PA MLS systems) requires listings to be submitted to the MLS within one business day of marketing, with narrow exceptions for seller-authorized exclusions.
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