Is That a Listing in Your Pocket or Are You Just Happy to See Me?

A real estate practice that continues to cling to life support despite the recession -- and some say common sense -- is the pocket listing, which presumes that it's somehow a good idea to list your house for sale but keep it a secret.

In a pocket listing, a homeowner tips off an agent -- or six -- that they would consider selling their homeif the price was right. They don't want the home publicly marketed or put in the MLS, they don't want open houses held and they certainly don't want a "for sale" sign decorating the front lawn.

While it's a marketing stance that may make sense for Brad and Angelina, it really doesn't for anyone else seriously hoping to sell their house.

Pocket listings serve the interests of a select few homeowners who, for various reasons, would prefer to not let their neighbors, business colleagues or the world-at-large know they intend to sell their houses and move. Why would they feel that way?