For Buyers

EACH CLIENT IS VIEWED AS A PARTNER, NOT A BUSINESS TRANSACTION.

Whether in a strong housing market or a turbulent one, it is essential to work with a real estate agent you trust to help you find and purchase a new home. We get to know clients individually and identify their housing needs and wants. Instead of showing you every home on the market, we show you the ones you’ll love. The most important service we can provide is to listen to and accurately identify your needs.

We have years of experience practicing real estate and our knowledge of the local real estate market and surrounding communities is extensive. The best way to help a buyer in the lifestyle, resort, and luxury market is to be a valuable ongoing resource for information.

During your home search we will:

  • Get to know you so that we can present properties that match your needs and wants
  • Provide knowledgeable and expert advice at every turn
  • Schedule appointments to show you properties that are both on the market and off (pocket listings)
  • Provide detailed information on any home you express interest in
  • Prepare you to submit an offer by looking at comparable closed and pending sales in the community
  • Guide you through the offer process and negotiate on your behalf with the seller’s agent
  • Use discretion while dealing with your sensitive information and maintain confidentiality
  • Help assess your financial position and provide recommendations whether you buy with cash or opt to finance
  • Provide contact information for non-affiliated independent service providers, e.g., real estate lawyers, inspections, escrow and more
  • Coordinate all appointments with outside parties (such as appraisers, inspections) to ensure a smooth transaction

Our ultimate goal is to make the buying process as easy as possible by providing comprehensive professional service.

HGTV – 10 Expert Tips for Buying a Lifestyle or Luxury Home

From a brand-new Trump condo and a historic Newport estate to a golf course community in the West, there’s a plethora of choices in high-end homes. Consider these tips from luxury home market pros before buying your dream home.

1. Learn the search process.

“Many luxury homes go unlisted to protect a seller’s privacy. These properties are often found through the Realtor’s personal connections as opposed to the MLS.” Virginia Cook, Virginia Cook Realtors, Dallas

“You may need to go to more online sources as not everything is on the large search engines.”Ronald Phipps, Phipps Realty, Warwick, R.I.

2. Go beyond the photos.

“Make sure you don’t dismiss properties based on their front elevation photos. Many large homes aren’t photogenic that way and you have to see them in person to appreciate. I recommend my clients do a search of the property and vicinity on Google Earth so you can see what’s around the home.” Ronald Phipps, Phipps Realty, Warwick, R.I.

3. Work with a local expert.

“It’s critical to have a good buyer agent who is familiar with the area you want to buy in. There’s a bit more control on access to high-end properties in terms of fewer open houses and more appointments have to be made to see them.” Elizabeth Blakeslee, Coldwell Banker Residential Brokerage, Washington, D.C.

4. Bank on your relationships.

“I strongly recommend you go to the bank you have a relationship with. They have your portfolio already. Also, know the difference between the pre-approval letter and the prequalification letter.” Nancy Suvarnamani, Century 21 SGR Inc., Chicago

5. Document everything.

“There is more scrutiny today in the high-end market. Financial documentation is critical. Anyone who is making a lot of money has a manager or an accountant and tries hard to shelter their money so it can be difficult to show the bank you have the income.” Steve Goddard, RE/MAX Beach Cities Realty, Manhattan Beach, Calif.

6. Hire smart, reliable advisers.

“A good Realtor won’t make the client’s decisions but will make suggestions. Pay attention to your financial planner and Realtor that you trust. They should agree on what you should be doing and if they don’t, arrange a meeting.” David Boyer, Jack Woodcock Team, Las Vegas

7. Don’t forget about title insurance.

“You need to get title insurance so you’ll be insured against any problems that were forgotten about. You want to make sure you have a chance to have a look at the exceptions page of the title insurance process before closing time.” Moe Veissi, Veissi & Associates, Miami

8. Look into the future.

“Make sure you know what building is planned around you. What happens if someone pushes the bar and builds another building even taller?”

“Know the timeline. You don’t want to tie your cash up for a long period of time if there are any kinds of construction delays.” Alexander Chaparro, @properties, Chicago

9. Know what to expect with cooperatives and condominiums.

“For co-ops and condos you want to be represented by an attorney who will research the building on its financial viability.” Klara Madlin, Klara Madlin Real Estate, New York City

10. There’s room to negotiate.

“It’s individual points, the view or remodeling that makes these properties one of a kind and makes them able to command a particular price. Have your agent research the comparable properties that have recently sold, getting closing prices, right before you make an offer.” Fanny Y. Chu, Prudential California Realty, San Francisco

For Sellers

EACH CLIENT IS VIEWED AS A PARTNER, NOT A BUSINESS TRANSACTION.

Whether in a strong housing market or a turbulent one, it is essential to work with a real estate agent you trust to sell your home. We recognize that selling your home is not just about business. Putting your property on the market can be a personal and emotional experience. Every seller can have an individual relationship with their home. Your home may be a statement of your personality, and embody your life, aspirations and memories.

Typically, the objective in selling your home is to sell the property for the best selling price within a reasonable time frame that meets your personal needs, and to manage the process in the most efficient manner possible. We have the experience, knowledge and skill to help you successfully achieve your objectives.

We are adept at navigating today’s fast-paced luxury market, and we remain involved from the initial home evaluation all the way through the closing process and legal/escrow. We understand that the real estate business is based on personal relationships and trust, and we strive to provide the best and most honest service in the business.

Also, our real estate business model enables us to offer a customized menu of real estate marketing and sales services that fit your specific needs and budget. There’s no silver bullet or magic formula to getting the job done.

MARKETING YOUR HOME - We will provide you with

A comparative Market Analysis to help advise you how to price your home Photos and detailed descriptive information about your home Professional color flyers/brochures Continuous monitoring of your neighborhood and other comparable areas Assistance with Open Houses and staging for enhancing your home available upon request Transaction management Skillful negotiations and more

Real Estate Home Marketing Videos and Digital Photography – optional program paid by seller to video service provider. Upon sale and close of escrow of home, seller to receive credit for cost of video services paid by seller to video service provider. Seller credit to be applied to listing commission payable to listing agent from sellers sale proceeds at close of escrow. Seller credit to be actual cost of video services paid by seller to video service provider, not to exceed $1,500.

Let me explain – there are many legitimate reasons why the Seller should pay for and own the home marketing video product, rather than the real estate agent. The investment is minimal. The reasons and benefits are many.

Listing Exposure. Real Estate Listing Syndication. Advertise Everywhere Marketing

We want the world to find your home on the web, and when they do we want it to shine. Photos and information about your home are syndicated far and wide with all major real estate websites. When your home is listed on the Multiple Listing Service (MLS) it is also syndicated to over 50 of the highest trafficked search sites on the internet.

Real Estate Listing Syndication is the premier real estate advertising medium on the internet today. Listing syndication does more than just draw eyes to your listing; it provides your home with maximum exposure worldwide, dramatically increasing the buyer pool for your home. Giving your listing ultimate exposure just makes sense. The California Desert Association of Realtors Multiple Listing Service (MLS) and broker members have partnered with Point2 to provide this valuable service. Point2 has spent many years creating one of the largest and most secure listing syndication networks in the real estate industry. New partners are added all the time. Click on image for more information.

Listing Syndication Graphic

Now that you have decided to sell your home, you should begin the process of preparing your home for sale.

HGTV – 10 Best-Kept Secrets for Selling Your Home

Tricks of the trade to help you get top dollar when selling your home.

Selling Secret #10 Pricing it right Find out what your home is worth, then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market.

Selling Secret #9 Half-empty closets Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.

Selling Secret #8 Light it up Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more saleable.

Selling Secret #7 Play the agent field A secret sale killer is hiring the wrong broker. Make sure you have a broker who is totally informed. They must constantly monitor the Multiple Listing Service (MLS), know what properties are going on the market and know the comps in your neighborhood. Find a broker who embraces technology – a tech-savvy one has many tools to get your house sold.

Selling Secret #6 Conceal the critters You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, send the critters to a pet hotel for the day.

Selling Secret #5 Don’t over-upgrade Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.

Selling Secret #4 Take the home out of your house One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home stager to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.

Selling Secret #3 The kitchen comes first You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

Selling Secret #2 Always be ready to show Your house needs to be “show-ready” at all times – you never know when your buyer is going to walk through the door. You have to be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It’s a little inconvenient, but it will get your house sold.

Selling Secret #1 The first impression is the only impression No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.

By Barbara Corcoran, TODAY real estate expert

There is a smart way and a not-so-smart way to get the best price for your home in the new year. Selling is both a price war and a beauty contest, and to win both you should check these nine tips.

1. Time it right Wait a few more weeks to put that “for sale” sign in front of your home. Few houses sell until after Super Bowl Sunday. If your house has been on the market for more than four months, take it off the market and re-list it in two months as “new.”

2. Price it at exactly what it’s worth The most influential factor in selling a home is always price. Don’t build “wiggle room” into the asking price. There’s a price war out there and you have to win it from the get-go. Shop the competition to see what similar homes are selling for and price your home 10 to 15 percent lower so it’s the first house shown. Or you can get price estimates from three good brokers and go with the lowest. If you’ve overpriced your home, then make one big reduction. The worst thing you can do is make a series of small price reductions along the way — it’s the equivalent of chasing the tide as it rolls out.

3. Get your home inspected before you list Don’t wait for the would-be buyer to discover the problems you could have fixed before selling. When they’re discovered, buyers will just move to the next house or rack up reasons to expect price cuts.

4. Offer financial incentives up front Don’t wait for the negotiations to throw in extra price incentives – offer them up front. Offer to pre-pay the first year of property taxes, pay closing costs, include free cleaning, lawn care or snow-removal services for a year. If you’re moving and have no place to put your money, the best incentive out there today is “seller financing.” Make sure to put your incentives front and forward in the listing information.

5. Wage war online A whopping 89 percent of buyers start their home search online. How your house looks online is the modern equivalent of “curb appeal.” Rent a wide-angle lens and good lighting, get rid of your clutter and post at least eight great photos to win the beauty contest. Don’t just rely on your broker to post the listing in all the high-trafficked websites. The most visited home sale websites today are syndicated when a property is listed.

6. Hire the best broker
The top 10 percent of sales agents generate 90 percent of the sales and they’re the ones most likely to sell your home. To find a smart broker, go to a reputable firm and ask the sales manager for a broker in the top 10 percent.

7. Spend money on the three key spaces:

The front of the house Buyers decide in the first eight seconds of seeing a home if they’re interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds. Edge your lawn, mulch your flower beds, trim your bushes, steam clean your driveway and paint your door and trim.

The living room Get rid of ALL your clutter, including a third of your furniture. Paint the walls a neutral white and add touches of color. If you can afford to stage one room, this is it.

The kitchen Invest in cheap expenses like changing the cabinet fronts, new lights and fixtures, new knobs and drawer pulls, installing a chic new back splash, resurfacing the floors and getting one new, fancy-looking appliances.

8. Lighten your house After location, light is the second-most cited reason buyers choose a particular house. Paint the inside walls white, clean the windows, trim back shrubs and trees, replace heavy drapery with sheer curtains or shades, put sheer white shades on your lamps and higher-wattage bulbs.

9. Stage your home The typical cost of staging a house is $1,500. If you can’t spend the money, visit more expensive model homes in your area and try to mimic the look. It’s what today’s buyers want.

NAR Field Guide to Listing & Selling Luxury Properties

How To Negotiate With Sellers

If you dread the negotiating process when buying a home, never fear. Your real estate agent is an experienced negotiator who helps keep the bargaining from becoming emotional and veering off track. Your agent must know your desires by heart and have quick access to you if a negotiation point needs to be made. It’s important to stick to the strategy you and your agent have agreed upon — showing the seller how strong your offer is.

First, get preapproved for a mortgage loan. That means your mortgage lender has reviewed your credit history and assets, checked employment and income, examined your debt-to-income ratios, and has preapproved you for a certain amount, terms and interest rate so you know exactly how much you can spend.Being preapproved shows sellers that you are prepared and able to buy. Before you submit an offer, ask your agent to find out more what the seller wants as far as terms. The more your offer matches up with the seller’s requests, such as a closing date, the more likely your offer will be accepted.Find out when the house will be vacated, if any repairs or improvements are planned, and if the seller has any pressure points such as a relocation deadline. Also, you’ll want to review the seller’s disclosure of the condition of the property.

Your agent must also find out if other offers are on the table. Your position is stronger if there are no other offers. The seller may be less likely to bend on price concessions or repairs if there are other offers.

Have your agent pull up the most recent CMA (comparable homes recently sold or on the market) within a reasonable radius of the home, so you can sculpt your offer price. Be sure that you are comparing apples to apples in terms of updates, size of the home, amenities, location, schools districts, etc.

Once these steps are made, you are ready to write an offer.

Making the offer

Make yourself think like the seller. It helps you anticipate what the seller will accept in price, terms, and other conditions. By considering the seller’s position, you will likely create an offer that is either accepted or strongly considered.

Your offer should be clear on the terms, closing dates, repair requests or other conditions the seller needs to meet and it should be accompanied by a letter from your lender that you are preapproved to buy the seller’s home. Include a cover letter summarizing your strengths as a buyer in terms of creditworthiness, flexibility in closing, and the strength of the offer.

Don’t insult the seller with an offer that’s too low or requires too many concessions. The seller may be nostalgic about his or her life in the house and may not like the idea that you want to remodel.

The only thing a seller can’t argue with is a strong set of comparables that show the home is overpriced or out of date. These are homes that have sold that are nearby (within two blocks) and similar in age, size and features. If you can show that a similar home has sold within the last two months for less than the seller is asking, that’s good.

Be sure all conditions, repairs, etc. are agreed to in writing. Some sellers may feel that a handshake covers a promise, but it’s essential to be clear on paper what is expected and when. A seller’s promise to paint should be included as an addendum to the contract and include all details, such as primer, exact color and type of paint, how many coats, and when the work will be finished for inspection.

Negotiating after inspections

The offer is negotiated and accepted, the earnest money is at the escrow agent’s office. Now the inspections occur, and this is where the contract negotiations can break down.

No home is perfect, not even brand-new construction. During the inspection process, the inspector is usually required to tell you about any condition of appliances, heating and cooling systems, roofs, electrical and plumbing systems, etc, and if your future home is up to current city codes.

Sellers are usually not required to bring a house completely up to current local building codes. Negotiate a repair only when a system is unsafe or a major repair is needed to make the system operate effectively.

As long as the seller has a reasonable explanation of what your position is and why, and communication remains open, the seller should have as much desire to make the contract work as you do.

Written by  on Thursday, 29 May 2014 1:12 pm

Pricing and Market Value

FACT: Buyers determine the market value of your home, not you and I! Anticipating your market value is a bit of detective work that we will do together. Some things that do not determine your market value are: 1) what you paid for the house 2) the amount of cash you need from the sale 3) what you think it is worth 4) what an appraiser says it is worth 5) your down payment when you bought the property 6) what the tax assessor says it is worth or 7) what your friendly neighbor says it is worth. Unless these nice folks will write you a binder check with a contract, they are NOT telling you what the MARKET VALUE is! The person willing to write that check is the one who tells you the value and that person is called a buyer. Today, in our market, virtually all buyers are highly informed and they are represented by an Exclusive Buyer Agent because that representation is free to them. It is the responsibility of that buyer agent to negotiate the best price and terms for the buyer, not you! To keep the buyer from overpaying, the buyer agent will, or should, prepare a market analysis on any home that the buyer decides to purchase.

That analysis will compare your home to similar homes in the area based on sales in the last 6 months. If your home is overpriced, they will know it, and their offer will reflect it! In fact, many buyer agents will suggest an even lower price on homes that are overpriced! As your exclusive agent, I will provide you with a comprehensive, clear, sensible market analysis that will allow us to anticipate the market value of your home based on analysis of buyer behavior. We’ll do this now, eliminating “low ball” offers! It’s not very complicated. It’s kind of like detective work, and we’ll make this a team effort! Remember: buyers determine market value, not you and I. Now, isn’t it nice to know that up front so there are no surprises later on? I think so too. This is the way I earn the right to receive a lifetime of referral business from you. Practical, down to earth advice backed by solid facts is one way that I prove to you my sincere effort to maximize your equity. Questions? Just ask me.

Vacation Rentals

ABOUT US

All Real Estate is Local. We don’t practice real estate in every area. Our real estate practice is focused on the marketing and sale of homes in Indian Wells and surrounding communities. As a result, we do well by our clients. Really well. Real estate firms come in all shapes and sizes. There are big firms with hundreds of agents in offices spread out all over the world. There are medium firms with dozens of agents who do a little of everything. Then there are boutique firms that have a special focus. These boutique firms typically specialize in a particular practice area, and do it very well. Realty Consultants Residential Brokerage is a boutique real estate firm – a phrase that has become overused, but applies nonetheless. Boutique real estate brokerage can provide personalized a la carte real estate services to meet your particular needs. Tell us what you want to do. We’ll work with you to customize a plan that works for you. We’ll discuss how to properly position your home to maximize your home equity, and accomplish a timely and successful sale in any market.  We’ve sold lifestyle and luxury real estate for many years. Seller and Buyer clients represented with integrity. We know and understand the business. We’ll just do what we do. And keep on doing it well. Contact Us to Begin the Conversation..

About Area

The Palm Springs Desert Resort Communities offer a wide selection of lifestyle choices to choose from in a unique location blessed with stunning breathtaking views of mountain vistas.

The area is attractive to year-round residents, international travelers and sun-seeking vacationers of all ages.
Trendy shopping, endless dining and entertainment options, endless golf and world class tennis are just part of the experience for buyers relocating to the area from around the world. You are minutes away from internationally famous shopping, dining, theatre and cultural attractions.
Eight Unique Cities. One Great Destination.
Palm Springs | Desert Hot Springs | Cathedral City | Rancho Mirage | Palm Desert | Indian Wells | La Quinta | Indio
Desert Sun Newspaper – Palm Springs News, Community, Entertainment
Palm Springs Convention and Business Authority
Palm Springs Bureau of Tourism
Palm Springs Life Magazine

Indian Wells

Indian Wells

Located in the heart of Southern California’s Desert Resort Communities, the City of Indian Wells is recognized worldwide for its tranquil and luxurious resort environment. Indian Wells has achieved status as one of the premier residential resort and vacation destinations to both visit and call home.

Indian Wells Amenities

Indian Wells guests and residents benefit from and enjoy the many amenities Indian Wells offers, including four world class resorts, the luxurious city owned Indian Wells Golf Resort, the Indian Wells Tennis Garden, plus a wide variety of cultural and educational programs. Indian Wells truly offers a luxury lifestyle unlike any other area.

Discounted Golf at Indian Wells Golf Resort

Indian Wells residents also benefit from discounted green fees at the 36 hole championship Indian Wells Golf Resort. The City also sponsors many other sporting and cultural events throughout the year. These include the world-renowned BNP ParibasTennis Open, the Desert Town Hall Speakers Series, the Indian Wells Arts Festival and more.

Indian Wells Real Estate

Real estate opportunities in Indian Wells include six country club golf communities, with each having their own unique features and atmosphere. The country club communities offer a broad range of amenities for home and condo owners including golf, tennis, fitness centers, spas, social/educational programs and more. Real estate opportunities also include a large selection of homes and condos outside of golf communities.

Toscana Country Club

Desert Horizons Country Club

Indian Wells Country Club

Eldorado Country Club

The Vintage Club

The Reserve Club

The City of Indian Wells also offers Indian Wells property owners an ID card which residents can use to enjoy discounts at the Indian Wells Golf Resort, BNP Paribas Tennis Open, the four Indian Wells Hotel Properties, and free use of the Hyatt Regency Indian Wells Resort & Spa fitness center.

Learn More About Indian Wells on Wikipedia

Real Estate

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FAQ

PROPERTY TAXES

For most homeowners, the first installment of their property taxes will be due November 1st, and delinquent if not paid by December 10th; the second installment is due February 1st, and delinquent if not paid by April 10th. Taxpayers have the option of making both payments when the first installment is due.

CA SECURED PROPERTY TAXES

 

About Pocket Listings

                                                                                                                                                                                                                                  
The Pros and Cons of Off MLS Listings

What Consumers and Real Estate Agents Should Know

While not a new concept for veteran real estate agents, the terms “off-MLS” or “pocket” listings may be an unfamiliar phrase to many consumers and some newer agents. Home sellers and agents should nevertheless be aware that the practice can adversely affect their goal of getting the best price reasonably possible for their homes. As many as 10-15 percent of homes offered for sale today are “off-MLS” listings, according to one Multiple Listing Service (MLS).

If you’re considering selling your home, think about the advantages and disadvantages of pocket listings.

What is an “off-MLS” listing?

Simply stated, an off-MLS or pocket listing is a property that is marketed without the benefit of being listed for sale on the MLS (i.e., “hidden” in an agent’s pocket). A property that is listed on the MLS has the advantage of being actively marketed to every real estate agent who belongs to that MLS and, through those agents, to their vast network of potential buyers looking to make an offer to purchase the property. Active marketing on the MLS usually includes open houses, broker tours and inclusion of seller’s property in the MLS’s download to various real estate Internet sites commonly used to search for properties.

On the other hand, as the term implies, an off-MLS listing generally is marketed by a single agent to one or a select few potential buyers. The marketing pool can be so small that in some cases other agents within the same brokerage or brokerage office may not even be aware that a fellow agent has an off-MLS listing.

Are off-MLS listings illegal?

It depends. They are not illegal if the listing agent fully discloses the pros and cons to the home seller and follows rules that are designed to protect consumers. Nevertheless, many real estate professionals believe that off-MLS listings may not be in the best interest of the property owner – particularly if a client does not know about the benefits of marketing their property through the MLS. To keep a listing off the MLS a listing agent who is a participant of an MLS is required under the rules of most California MLS’s to obtain a signed certification from the seller stating they do not wish to sell the property via the MLS.

Why would a home seller agree to an off-MLS listing?

Off-MLS listings sometimes are requested by celebrities, judges, prosecutors or others who wish to maintain their privacy and/or limit viewing of their property to a select individual or individuals with the financial wherewithal to purchase.

Are there reasons a home seller should avoid an off-MLS listing?

Yes. Most importantly, an off-MLS listing generally does not get the broad market exposure that a property listed on the MLS gains. That can significantly reduce the number of potential offers to purchase that a property seller may receive – an important consideration at a time when multiple offers above the asking price are commonplace in many neighborhoods. A recent survey of San Francisco Bay Area real estate agents conducted by MLS Listings, Inc. revealed that 74 percent of respondents believe an off-MLS listing decreases the chance a seller will obtain the highest and best price for their property.

Off-MLS listings also may impact real estate values on a larger scale. Property price evaluations completed on behalf of mortgage lenders – more commonly known as “appraisals” and a vital precursor to a homebuyer obtaining a mortgage loan – may be affected in communities where there are a significant number of homes being offered as off-MLS listings. That’s because not all off-MLS listings are entered into the MLS database once a property is sold. Without this critical information it is more difficult for real estate agents and their sellers to determine a listing price, for agents and their buyers to decide how much to offer for a property and for appraisers to determine the current market value of a property.

What should I do if an agent approaches me with an offer to sell my home as an off-MLS listing?

Ask your agent about the pros and cons of selling your home off-MLS. One advantage is that your listing remains private if you wish to maintain privacy. However, a disadvantage is your home may not be exposed to the full population of available buyers, which means there may be less competition among fewer buyers, resulting in a lower selling price.

If you decide to list your home off-MLS your agent may ask you to sign a standard seller exclusion form (Seller Instruction to Exclude Listing from the MLS or C.A.R. Form SEL). Be sure you fully understand what you are signing and the adverse consequences outlined in the form of not listing your property on the MLS.

And you may want to tell your agent that even if your home is not on the MLS you want your agent to show and present all offers from both inside and outside their network.

Contact

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