The National Association of Realtors (NAR) voted in late 2019 to ban off-market listings. These are properties marketed outside of the local Multiple Listing Service (MLS) and promoted within agent or brokerage networks. Continue Reading
The National Association of Realtors (NAR) board of directors voted last week to ban off-market listings—ones that agents promote outside of their local Multiple Listing Service (MLS). The policy will take effect on January 1, 2020 and will be fully implemented starting May 1, 2020 to give the hundreds of MLS’s time to make tech changes and educate users.
I agree, in general, that buyers and sellers benefit from full MLS exposure. However, there are situations in which it may not be beneficial for sellers to go the full marketing distance. Privacy concerns, tenant-occupied properties and trial list price runs are reasons why some sellers would prefer to wade into the marketing waters in a lower-key manner. Many ultra high-end properties also have a limited pool of buyers that doesn’t lend itself to an MLS. Continue Reading
Sellers agree to market their properties outside of the Multiple Listing Service (MLS) for a variety of reasons. They may not be able to move before they sell, so their home won’t look as good as some of the comparable sales. They may have limited funds to paint, stage and fix up the house for sale. Or maybe they have small children, pets or tenants that make showing the property a challenge.
And finally, many off-market sales happen because a seller knows an agent who personally has a buyer for that seller’s property.
Many off-market sales are in very high price ranges, and there simply aren’t that many buyers out there who can afford those properties. So agents reach out privately to brokers who typically represent multi-million dollar buyers. Continue Reading
Off-market sales close throughout the year in San Francisco. These are properties that agents promote outside of the Multiple Listing Service (MLS), and sellers opt to go that route for their own specific reasons. They may not have the budget to paint, stage and do everything it will take to be camera ready—efforts that can easily cost $20,000 or more. They may have small children, pets, or tenants that make showings challenging, or simply want only qualified buyers coming through the house and no Lookie Lous or nosy neighbors. Continue Reading
Off-market sales are accounting for a much smaller percentage of single-family homes and condos this year. Though a quarter of all properties sold in 2015 changed hands without the benefit of being entered into the Multiple Listing Service (MLS), those numbers have dropped off significantly in 2016. Continue Reading
Inventory is here! Here’s a heads up on properties that will hit the market this weekend—or might be snapped up before they hit the MLS:
118 Melrose / Glen Park
3BR/2BA remodeled single-family home; huge deck, garden, 1 pkg
$1,195,000
504 Joost / Sunnyside
3BR/1BA house, 2 pkg
$949,000
18 Colonial Way #8 / Misison Terrace
3BR/2BA top-floor condo, views, good light
$829,000
125 30th Street / Glen Park
2BR/1BA Edwardian flat, 1 pkg
$899,000 Continue Reading
Off-market land is quiet this week, but that’s probably because inventory is slowing down in general. Here are my picks for this week’s up-and-comers:
216 Yerba Buena / Monterey Heights
2BR/2BA home with expansion potential, 2 pkg
$995,000
130 Vienna / Excelsior
4BR/3BA + two bonus rooms up, 1 pkg
$799,000
Sunnyside Single-Family Home
2BR/1BA Marina-style home, huge garage
Price upon request Continue Reading
The San Francisco real estate market is booming, and sellers are greatly benefitting from buyer demand. There are five or more buyers for every listing, particularly in popular neighborhoods. Interest rates are low, our local job market is strong and there’s no shortage of foreign investors.
If you’re thinking of selling your home in the near future, here’s how you can capitalize on this hot market: Make sure your agent enters your property in the San Francisco Multiple Listing Service (SFARMLS) database. Continue Reading
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eileen@insidesfre.comDRE# 01352627
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