I am looking for a property to build a home on. And I have learned that in my area, builders tend to get first dibs on things as there are a lot of pocket/exclusive listings. My question is, can I go around to the different broker companies and tell them that I am interested in a piece of land and to keep me in mind if a listing comes in (pre MLS)? And if they do have a property, I would use them to complete the purchase. Is this taboo? Would the brokers just disregard or laugh at me? Any help is appreciated.

you can do that, but in some cases the brokers may be subject to legal restrictions on what they can say to prospective buyers before a written listing agrement is taken from the property owner. no broker will laugh at a prospective buyer, they pay good money to find buyers.

You could also find a newer / hungry agent and tell them you are interested in buying a property in whatever area it is you're looking for. Ask them to contact all the vacant land property owners and see if they'd be willing to sell to you. The agent can then secure a listing agreement with the owner and you go under contract. That is, as long as dual agency (agent represents both buyer and seller) doesn't bother you.

Interesting. In reading what I wrote, I guess it doesn't seem so awkward after all.

You sound pretty creative Perky. Thanks for that. I don't care about dual agents if that is what it takes. I figure any exclusive / pocket listings would be brokered as dual agents as well.

Thanks.

In a way, the term "exclusive" means just the opposite of what you think. The Rules of most MLS Systems require that Brokers submit their "Exclusive" Listings to the System so that all Subscribing Brokers have the opportunity to market those properties to their Customers and Clients.

That's the beauty of the Multiple Listing Systems, the reason they came into being and what makes them, as much as possible, a one stop shopping service for the General Public.

Our MLS actually imposes a fine on Brokers who are negligent in promptly getting all of their Exclusive Listings up onto the System within 24 hours (and including a photograph within 48). I have had the pleasure of paying those FINE$ when I have been less than attentative. You see, we are not permitted to retain Listings in some secret inventory . . . . and that's also the reason for the success of the MLS System.

Without this sharing of all the listings, good and bad, the MLS would not work. That's the commitment every REALTORŪ Broker makes when he/she joins a Multiple Listing Service. If they don't want to follow those rules, they should not join, and you may find some Real Estate Agents who are not REALTORSŪ and do not participate in the MLS.

Now, when we throw around the term "pocket listing", it usually means an "Open Listing" (aka Non-Exclusive) that is over priced and we don't have to do anything with it (no advertising), and the Owner retains the right sell it himself, or simultaneously list it with other Agencies . . . . but we throw it into some nasty desk drawer where that dog is forgotten about until such time as we trip over some unsuspecting Buyer who wanders in and just happens to be looking for that exact thing . . . . and then we'll casually pull the "Open" out and say "We've been holding this one special just for you !"