Home Buying in Boca Raton>Question Details

Ew3_e, Home Buyer in Boca Raton, FL

I had asked my agent for current listings but often times by the time I was sent a good listing it had already been on the market a few days or more.

Asked by Ew3_e, Boca Raton, FL Fri Oct 25, 2013

Another proplem was I would see a nice property online only to call and find it has pending offers after less than a week when I had never been notified of it. Was the realtor slow or were my expectations unrealistic? Can properties can get bids before posted to the MLS or some other legit reason for this delay? If I was unfair I'd like to know so I can bring my expectations back down to Earth and apoligize. Thanks

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Getting on an automatic notification system is the way to go. Your agent should be able to help you get set up on this system. In my area we can update people everyday by email. This is absolutely the best way to stay on top of the market. Even with this system, the listing may be a day or two old when it is featured in the realtor database. Realtor are required to get the listing input within a couple days of listing the property. This means the sign could be in the yard or on the building a couple of days before it is available in the database. This may be the reason a property might be sold as soon as it is available in the data base. Good luck with your search.
1 vote Thank Flag Link Fri Oct 25, 2013
I would have the agent not only set you up for automatic property updates directly from their MLS account, I would ask him to give me a clients portal at his MLS account....not of his public website. That way you can find things before he is even notified.
1 vote Thank Flag Link Fri Oct 25, 2013
Great idea, I didn't even know that was possible. Thank you.
Flag Sat Oct 26, 2013
Ew,

If you are not set up to immediately receive notification of new listings that match your specific needs and be ready with documentation that you have the ability to pay for the property either with a loan approval or proof of funds you will miss out on the best opportunities in today's market. In your last question I explained why foreclosures and short sales are not necessarily you rest opportunities and you must be prepared to act quickly with a strong offer based on a complete understanding of that hat property might sell for.

Here is a real life example of what to expect in today's market. A week or so ago one of my clients called me about 8:00 on a Sunday evening about a new listing I had forwarded them about an hour earlier right when it hit the market. The home was listed at $599,000 and in a neighborhood we had targeted. There was no doubt it was well priced and met the needs of their family. I immediately called and scheduled an appointment for 9:00 the next morning and we had an offer to them by 10:30 for $615,773. As it turned out they had 6 offers by 1:00 and asked for our highest and best offer by 6:00 that evening. I thought the offer we had was solid and my client decided to have that be their best shot. As it turned out it sold a bit above our price but that is how it goes. You have to get back on that horse and be ready to ride again.

Again, inventory levels, especially in your price range, are very very low and it will take a well thought out game plan for you to find success in today's market. You may need to open yourself up to a wider geographic area and have plenty of flex in your requirements. Any well priced new listing will sell in days, if not hours, so you must have your pre-qualification letter or proof of funds ready to go and be ready to act lightning fast when new opportunities arise.

A very clear description of your specific requirements is the best place to start your property search and if I can be of service to you and your family I would appreciate the opportunity to be one of the agents you may choose to interview. We are experts in finding our clients that "needle in the haystack" and would love to help you find yours.

Best of luck and if I can offer anything additional please let me know.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
1 vote Thank Flag Link Fri Oct 25, 2013
Hello,
You're expectations are not unrealistic at all. Often times properties are put on the MLS and sent automatically to home buyers through email notifications and because Boca Raton is such a sought after city these listings are snatched up immediately. I suggest you do not lose hope and keep searching. I'd be more than happy to help you with your search and use my tools to find you your perfect home. Please contact me any time.

Eva Agelopoulos
Realtor
Galt Ocean Realty
561-699-5798
1 vote Thank Flag Link Fri Oct 25, 2013
Have your agent set you up on Automatic Searches that match your criteria. Then you will get the listings the day or the next day after they have been put on the market. So, to answer your question, this can be automated and take the agents response out of the picture. I have sold a lot of properties like this to buyers that were looking in a particular area and matched their specifications. Regarding getting bids before a listing is posted. That can happen if the listing agent knows a buyer or another agent looking in a specific area. This sort of thing happens in very desirable areas. You need an agent that knows how to automate the process for you. Regards, Tracy
1 vote Thank Flag Link Fri Oct 25, 2013
Some properties can get offers very soon after going on the market. A new things buyers are doing is to place an offer on a house that looks perfect and then going to see it and deciding if they want it. If not they remove the offer in the Due Diligence period at no cost at all to them. Shot first and ask questions later is the way they are doing it. Your agent has to run through new listings and send them to you, this does take time and if they are working with many buyers doing the same thing you can get lost in the shuffle. Ask your agent if the MLS has an automatic notification feature that sends listings as soon as they are entered and if they match your criteria.

Properties can get offers before they are listed, it takes days to weeks to get signatures to list and an agent could show it to a buyer before it is listed. It won't happen often though.
1 vote Thank Flag Link Fri Oct 25, 2013
Go over your concerns with your Realtor, if after discussing your feelings with that Realtor, see how the next week goes.

Only you can decide how you feel, if you are not getting the service that satisfies your expectations, look somewhere else.
0 votes Thank Flag Link Mon Oct 28, 2013
We can set you up to automatically receive an email with details about every new listing as soon as it hits the MLS.
Email us with your email address and criteria of the home you are looking for (price range, location, # bedrooms, etc).
We look forward to helping you with your home search!
Warren & Susan Tessler
Broker Associate / Realtor
A & B Realty, Inc.
561-487-1844
email: WSTessler@aol.com
0 votes Thank Flag Link Mon Oct 28, 2013
You need the auto email feature from your Realtor this will help. The market is super fast we all need to be on our toes and ready for action. This should help but even if there is a contract pending you can always ask if they are taking "backups" and come in higher. I hope this helps. Happy Hunting!
0 votes Thank Flag Link Sun Oct 27, 2013
We're in a hot market at the moment, although latest news reports say we're cooling down slightly. More homes (about 6% per month) are entering the marketplace, so this may relieve some of the pressure on buyers we are coming in with mortgage. Cash buyers are still purchasing a majority of Boca Raton homes and Palm Beach County homes.

However, homes for sale in Boca Raton or for rent, may go to contract immediately because the listing agent may have customers waiting for those properties. If that happens to be the case, then even if you receive the listing via an automatic notification system, it is possible that it may already have gone under contract the moment it hit the mls.

As for those Boca home listings that remain on the market, you are likely to find, at least for the moment, that you are in a constant race to arrive first with the highest and best offer.

Marc Jablon, the Jablon Team
Re/Max Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes Thank Flag Link Sat Oct 26, 2013
It's a fast market right now, especially for rentals. So, if you're looking for a rental property (especially at the start of the season in Florida), you really should be using an agent who specializes in rentals in the area you're interested in. They will be the ones who have the info fast and be able to get you into the property for viewing. Everyone's suggestions previously have been right on the money so you have many options and techniques available to sharpen your search for your next home.

If it is a rental property you're looking for, I can refer you to Realtors who specialize in particular areas. Feel free to drop me a line with the particulars and although I won't be handling it since I concentrate on sales of luxury properties, I will give you some names and contact information for Realtors who should be able to find you properties quickly and effectively.

Good luck in your search....

Kathleen Fineman
Realtor Associate
Douglas Elliman Real Estate
444 E. Palmetto Park Rd, Boca Raton, Fl 33432
# 917-709-4957
http://www.KathleenFineman.com
email: KathyFineman@gmail.com
0 votes Thank Flag Link Sat Oct 26, 2013
As others have suggested, you are caught in a very hot rental market where vacancy rates are at a historical low.

Properly priced/maintained rentals in Boca are often on and off the market in days (some time hours).

Unfortunately demand outstrips supply in Boca and will remain tight until the new inventory being built in Mizner Park and elsewhere becomes available 2014.

There are things you can do to get the edge and others have given you some sound advice.

Good luck!
0 votes Thank Flag Link Fri Oct 25, 2013
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