A local high-end neighborhood newspaper was issued this weekend. I didn’t need to know their schedule to know that it had come out – I knew by the number of calls I received about an affordable listing that I had.
To most, this would be great. However, with all things great, it takes time to issue. To be precise, ads must be turned in 30 days before publication. What does this mean for the general public? In Sacramento, it means that the great property you are getting excited about is probably sold by the time you read the ad.
I would love to tout this is the reason to have a great Realtor working on your behalf. If you did, odds are you would have known about this listing the day it went on the market. You would have been one of the 5 offers I received. You would have been in the running to be in escrow and closing on your home.
Unfortunately, there is more to this story than I would like to profess. We are finding that within 12 hours of a property hitting the MLS, it is sold. The market really isn’t that quick. This really translates into the listing agent or a co-worker in the office already being in escrow before it hits the market.
The seller never had a chance for multiple offers and the accepted price being higher than the list price. The seller never had a chance to have their closing costs paid for by the buyer. The seller never had a chance to have a shortened recording period and the property to be taken “as is”. In other words, the seller never had a chance to get the best possible offer on their property.
So, what is the lesson in all of this? Sellers, no matter what your agent tells you, get your property on the open market for at least several days. Buyers, listen to your Realtor and write the strongest offer you can possibly write.
This is a tough market and only the best will achieve maximum results!