Is it possible to put it on the market quietly -- gauge the interest -- and show it discreetly, without lots of open houses, etc.? It is a great unit in a well financed and maintained TIC. It is just that I have been recently drawn to the new condo developments in SOMA/Rincon Hill...and want to test the waters.
Dear Vincent,
Seeing as you are still looking for answers.... I would suggest you follow the suggestions of many below. It is very easy to market to all companies via an email about a new pocket listing that will not have open houses with a request to call the Agent for a showing. This is the way many properties are pre-sold especially at the high end. It may not necessarily get the best price, but it is definitely a way to sell and still get a strong offer. If you are amenable, information can be placed on Craig's List and other websites with requests for private showings to go through your agent.
You also might consider placing it in the MLS via your Agent who can market it in Agent Remarks as no Sunday open houses..... or Tuesday Broker's Tours. I do feel, however, if you are in the MLS you should have Broker's Tours.
My company, Hill & Co. has an office at Sanchez & 24th. Informational flyers are placed in our windows and many people stop to look at them and come into the office for more info or to make an appointment to view.
All of us have email lists of clients that number into the hundreds, so that is another way to market to find a potential Buyer.
With the downturn of the economy, Developers are making huge concessions, so now is the time to move on them. Be sure to take an Agent experienced in new construction sales to help you neogitate! It is definitely not done in the same manner as resales. In San Francisco, you will not find a market with a time to buy low and sell high....Sorry it just does not work that way. You need to decide if you are ready and then make a move.
I and others would love to help. Good luck!
Sally
Definitely market the property on the open market and publicize it as much as possible. The more you expose it, the more traffic you will get and the higher your chance of matching up with a buyer. Use a full-service agent to get the best exposure of the highest quality and the highest skill set from your agent.
Hi Vincent,
You may consider using one of the top brokerages in the city. Your agent will be able to network within his or her company for one or more possible buyers which will help avoid the hassle of more traditional approach. Housing inventory is so low in the market, especially in historical neighborhoods like Noe Valley...you will do well with a good agent from a big player.
As for new developments in SF, now is a excellent time to buy! ...however, I would recommend using a tough negotiator for your purchase. I was able to get up to 9% off the asking price for new construction.
James
Hello Vincent, You can sell your home quietly and ensure it is in the MLS and in other listing services. Simply hire an experienced agent and that individual will be able to accomplish your goal. Interview a minimum of 2 agents and ask ttwo question s "How will you market my home and be descreet about doing it?" & "Will that method get the highest dollar possible in the shortest period of time?" It would be to your disadvantaged not the place your home in all available listing services. A sign does not need to be placed nor open houses hosted. My true suggestion is to hold on to your home (if afforable) and down size within 2-3 years. The market is being controlled by lenders that currently own REO properties. In most cases our local home owners, who want to sell, can not compete with the banks in reference to pricing and other terms of a contract. The banks are offering the buyers up to 6% of the Sales Price PLUS offering the brokers/agents a bonus. Have you considered leasing your current home? Ponder that idea and speak with a professional Realtor and a professional Loan Consultant. If you need a referral let me know. Sincerely, Jasmin Rhodes, Realtor - Windermere Welcome Home
Market Broker / Agent E-mail list / no sign / Realtor .com and the following syndications should be a good test:
Real Estate For Sale Network
Google Base
Trulia
Zillow
Homescape
Live Deal
Hot Pads
City Cribs
Prop Smart
Oodle
Gumiyo
Luxury Homes
Front Door
RSS Feed
Hi Vincent,
There are a few ways you can do it. The most "relaxed" one is to have it as a "pocket" listing from an agent you trust so he or she can pitch the property on their intranet or their office meetings. I have done real estate in san francisco prior to moving to socal and there were a lot of pocket listings in my office. It is also a good way to gauge the market. The other way is to have it officially listed on the MLS with appointment only showings and no signs requested.
Good luck.
Leonardo
Dear Vincent,
Cindi's answer is good. But, witha quiet sale, you are losing out on some potential Buyers. Advertising (for instance, Craig's list, ads in Real Estate Times, placements on a ton of various websites a Chronicle ad) can bring in a lot of buyers who might not have heard about your quiet listing, who, in turn, build up excitement and create a multiple offer situation.
In 19 years in the business, I have found that Sunday open homes bring in a lot of Buyers as opposed to only Broker's Open Houses on Tuesdays. If you do not want a lot of traffic through your home on Sundays (which I can appreciate), you can advertise for showings via appointments only. Tuesday Broker's Open Houses are good for Agents who preview and then send or take their Buyers to open houses on Saturdays and Sundays. Thus, on the one hand, a quiet sale can be a good one, but does not necessarily bring in the highest price.
By the way, now is the time to buy in South Beach/Mission Bay/SOMA as Developers are giving huge discounts. Take an agent with you to get an even greater discount than what the Developer is offering via his agents at the complex itself.
Good luck,
Sally
Hi Vincent,
We call this a quiet listing. Without MLS exposure you'll need a creative marketer with a large agent contact base. There are a number of ways to reach agents, but one starting point would be to consider an agent who works with a number of successful agents within a single office location. We do tend to talk about our listings a lot and you'll need buyer representatives to remember your property well enough to know when to suggest it. To back up Cindi's point, I think it's important that you price appropriately. You'll also need to give agents a reason and method to remember you.
Good luck!
Jason Chapin
thank you cindi. your advice is great.
response to bryan's coulda, whoulda', shoulda.....i have owned coops/condos/TICS in nyc and san francisco...thanks for the lame advice.
uugh. I am not suggesting that I do this on my own or that I am testing the waters. I just want to do it discreetly without big signs and lots of open houses. I am not surprised by the responses from brokers that are suggesting that I do it alone. I am fine with paying a fee...just don't want the fanfare. uugh.
Thank you bryan, but not suggesting doing it alone. that said, would not choose you.
You can list your home with a Realtor and specify no signs....and no listing on the MLS. Be sure to go with a Realtor that knows you neighborhood well, and that has a great reuputation....they can quietly market your home through their office and network.
Price your home appropriately from the start. Just because it's not on the MLS doesn't mean the prospective buyers will pay more.
This type of listing is often done with celebrity and high net worth clients....but it can certainly be done with any home.
Good luck! And if you need a referral, let me know!
just to be clear.....i am not really testing the waters. if i found a buyer, i would jump on it.
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