If you read the paper, check your Facebook, read the twitter and RSS feeds you know that our Real Estate market is booming here in Southern CA.

One of the reasons I’ve been absent from my semi regular e-letters to you is that in fact I’ve been totally swamped with several new listings hitting the market, some off market listings getting a ton of play and also the sales, all with multiple offers, on my existing listings.

But I wanted to fill you in on some important market shifts that I’ve been noticing.

I often talk about the mysterious “off market listings” and the trend of property selling before it ever hits the MLS, Multiple Listing Service and you often ask me WHY would a seller do that. I’ll try to explain.

To maintain one’s Top Producer status, the Realtor (me) needs to be in a plethora of networking groups with other active Realtors to find out who’s got property  coming up, and what these other Realtor’s clients are looking for.  Then, after hours of these meetings, client consults, properties are being sold off market. Sellers have enjoyed the anonymity of this practice. They enjoy the rapidity of the sale’s marketing  process. Eventually the sold property may appear on the MLS as a “for comp purposes only” comment.  This does help with our comps. Bottom line, with inventory so tight, this off market system has proven to be a very successful Top Producer strategy.

There has now been a paradigm shift.

Sellers are recognizing that yes, they still need their Realtor who is closely connected with the supply of off market, upcoming property but that the real potential crazy $$ to be attained,  the above and beyond asking price amount on the Sellers Net Sheet is now happening because of the old-fashioned way of marketing…via the MLS.

I mention this for a few reasons. For you buyers, the strategy of putting in your offer when the property is not listed, or not listed yet may backfire. For sellers, you may want to overcome the annoyance of those pesky Open Houses and the sign in the front yard in exchange for the greater buyer pool that’s not only outside of MY local über successful Realtor client base, but out in the world at large, via the magical internet.

Does that make sense? Would you like an example?

A nice property came out in my networking circles that was NOT going to be put on the open market (MLS). There were to be no Open Houses, no Broker’s Opens. I was on it like a gourmande on a succulent terrine de fois gras. We wrote. We were assured that this was going to stay off market. Hell, all the players (Realtors with the power) where in the know anyway.

NEXT: Seller decided he wanted a Full Monte of exposure. Long sad story short, my buyer was outed by 4 other offers WELL over our final and best. Go figure.

So, this is my e-message to you today. If you want stats in your market area, I’ll give them to you. If you want a consultation on what I feel your home is worth and why it is a GREAT time to sell, call me.

If you’d like to know from the ground up, information from inside the trenches (that I love), don’t wait for the media to get it right and current. I live and work in real-time; I know the market and I know what’s happening in it (even if my buyer didn’t step up to the plate when I presented the perils).

 

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