Off-Market Opportunities
Selling Sunset.
One of my clients recommended that I check out the Netflix series - “Selling Sunset". I was initially hesitant as I thought it was just going to be another one of those HGTV real estate shows. Then my partner - Phil started watching it. It turns out it is a docusoap series produced by the Adam DiVello (producer from the “The Hills"). I was quickly hooked in - - we finished the 8 episodes within a week.
There is unnecessary drama in the show -- and it isn't all about real estate. Face it - it is TV and definitely fits in the "guilty pleasure" category. Despite all this, there was a moment where two agents in the office brought a Buyer and Seller into a transaction together simply talking about buyer/seller needs in an office meeting.
It was a good reminder to me that as an agent at times we really can bring sellers and buyers together. There are a lot of distractions, but if we as full time agents are conscientious about our client's needs -- conversation with other agents can bring about a connections that are off-market or stimulate win-win activity.
The standard way of real estate in the Bay Area tends to be the following: a Seller works with an agent to prepare their home for market. The home is listed on the Multiple Listing Service (MLS) for optimal results as it gives the general buyer population to see it. An offer deadline is set. Offers are taken. This is a 10,000 foot high level view of the process -- trust me - hiring the right agent with a strong work ethic, eyes on detail and strategy is absolutely necessary.
The standard way of doing business is just fine however recently -- I’ve become more and more interested in finding opportunities where serious buyers and sellers are able to find win/win solutions - sometimes off-market.
Off-markets can happen so long as both parties are reasonable.
The Sellers may want to have the ease of making a transition. The Buyers must already have a true sense the inventory in the market and should be able to look past the personal affects of a home.
There are caveats to this process - they may be leaving money on the table when they are not getting multiple offers.
Sometimes, Buyers have to pay a premium for an opportunity. As a very wise agent once said to me (Thank you, Julie Gardner!) -- the Buyer may pay a premium to shut the door so the listing is not opened up other buyers. The Seller may always wonder if they if they left money on the table.
At the end of the day, real estate is a people business. I feel strongly that we sell spaces and connection. We have to
understand the needs of our individual Buyers and Sellers. Each person places priorities on differently things. Buyers who understand the market. Contact me if you or a friend needs some support.