Real Estate Blog

• Interest rates are back at 6% despite doom and gloom reports in the news.

• Inventory is creeping up and buyer demand is a little lower than normal (see recent rate spikes)

• OFF-MARKET sales are dominating my workflow this quarter.  

When I meet with a home seller, my first thought is almost always to prepare the home to look its best and to take it to market for full exposure.  This may involve some light remodeling, or just de-cluttering, touch-up painting, and staging.  Additionally, I always present the opportunity to sell the home off-market to my clients.  Conventional wisdom would suggest this limited exposure would likely net the seller less.  But, it's not quite that simple.  

As dues-paying Realtors (members of the National Assoc. of Realtors), members of our local board of Realtors, and dues-paying members of the CA Regional MLS, we abide by a strict set of rules concerning marketing a home off-market.  In a nutshell, I can't promote and market a home to an exclusive group (like only my Instagram followers) unless I expose it to the full buying public via the MLS.  I understand the vision and intent of this policy which is to guarantee all buyers see the same homes.  However, in some instances, sellers want a private sale, a quick sale, or just the opportunity to consider a simpler process.  To my own buyers, as well as my 400+ colleagues at Seven Gables, I CAN promote my upcoming listings, and this is exactly what I've done to great success this month, twice, and maybe it'll be three times by month-end!   For my Fountain Valley listing earlier this month, my sellers avoided spending an estimated $10,000 on preparation costs as I was able to schedule two showings before work could even begin.  A bidding war ensued, followed by a quick close at a price higher than my projected ON-market price.  Similarly, I put together both buyer and seller together in my cherished Canyon Park neighborhood of W. Costa Mesa for another off-market sale last week.  Once again, before the seller spent a penny on preparation, I was able to show the home twice, and again fetched the seller a great price in record time.  Off-market sales aren't for everyone, but when they work for all parties, they sure work well!   To understand how an off-market sale with one or two buyers could possibly fetch the same price or more as thousands of online views and multiple offers, put yourself into the mind of a buyer who's being shown an opportunity that just one or two others are getting, and I think you'll understand why these buyers are willing to step up and pay a premium for the right to buy without the fanfare and unknown competition of an on-market sale.  Ultimately, if I can confidently show value to buyers and sellers for an off-market sale, I'll always present the option.  

If you're looking for a home and not seeing what you want ON the market, press your agent on how he/she is digging up off-market opportunities for you.  If you're not working with an agent, give me a call.

Until next time, 

Matt

949 677 3618

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