Home Buying in Cupertino>Question Details

Amy, Home Buyer in Sunnyvale, CA

Any pre-MLS listing properties in Cupertino in the Lincoln/Kennedy neighborhood?

Asked by Amy, Sunnyvale, CA Wed Jan 28, 2009

I'm looking for recommendations for a good buy-side agent (broker license preferred) who knows Cupertino really well and can help me identify pre-MLS listing properties for a SFR which is within 5 - 10 min. walking distance to Lincoln/Kennedy. Or, I would be interested if any listing agent has up-coming properties in that neighborhood. I'm looking to buy in the next 3 - 12 months.

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You might find properties like that but you have to ask yourself, "Why would the seller (and their agent) be willing to sell it to me and not make it available on the open market?" I would question the reasons a listing agent would advise the seller to accept an offer before it hit the MLS and open market. They have a fiduciary duty to the seller to obtain the highest price and best terms. The buyer wouldn't know if they got a good price and the seller wouldn't either. Something about the property you miss or don't think is important might bite you later when you go to sell. There are plenty of homes in the Monta Vista High area (I live there) for sale right now and you will be better off negotiating a good price on one of them. There's new inventory almost everyday.

You have a very small chance of finding a bargain and buying it from an unwitting seller and agent. You have much larger chance of overpaying and taking over someone else's problems.

You also mention broker license preferred. Why? Some of the best agents in the area are just that, agents. A broker's license doesn't add any contract or sales expertise to a real estate salesperson. A broker's license is only important when you manage an office or have responsibility for the activities of other licensees.
0 votes Thank Flag Link Fri Apr 24, 2009
can you pls send ur address to hikelife@gmail DOT com. i'll be interested as well. thanks.
0 votes Thank Flag Link Wed Apr 22, 2009
Have u bought your house in Cupertino? We have a 16 Yr old single family house, around 2000 sq ft, 3Bed & 2.5 Bath that is in the Cupertino Regnart/Kennedy/MV school district. We've not decided to sell it or rent it out. We just moved to another house in Cupertino.
0 votes Thank Flag Link Wed Apr 22, 2009

You are looking for a pre-MLS listing in Cupertino. Do you mean You want to be the 1st buyer to see a Cupertino home? You need an active local Cupertino realtor who is working in Cupertino office long time.

Grace Keng
Web Reference: http://GraceKeng.com
0 votes Thank Flag Link Sat Feb 21, 2009

Thanks for clarifying.

I'm not to sure that I would use a buy-side agent recommended by the listing agent. Keep the transaction at complete arms length. You'll never know what the listing agent and the recommended buy side agent may have worked out prior to you getting involved. Will that recommened buy side agent truely work for you or just do what the listing agent says to get the deal done. I suggest finding a solid agent who represents your interests and your interests only.
0 votes Thank Flag Link Mon Feb 2, 2009
When I mean buying "direct.," I do mean having a buyer's agent represent me to buy directly from the listing agent before the property goes on the market. Sorry if I'm not clear. That's why I'm looking for a good buyer's agent who has the agent network in Cupertino to help me identify pre-MLS properties. Bottom line is I want to have a win-win situation where I get a good value and seller can save on staging/time to sell.

Or, I'd be interested in a listing agent who has an upcoming property in the area I'm interested in to see if the agent can recommend maybe a buy-side agent to help close the deal (which raises the second question: is it a good idea to work with a buy-side agent recommended by the listing agent - any conflict of interest I need to be concerned about).
0 votes Thank Flag Link Fri Jan 30, 2009

I get the gist of what you're trying to do (you want to get a home at a great value), but it appears that you might be hurting your own cause with your comments. Let me explain... you write that you want a good buyers's agent who can find you pre-mls properties (I assume this agent will be networking with other cupertino/monta vista area agents in order to find that "off market" property).

Later you write that you want to locate pre MLS properties and buy directly from the listing agent. What is the incentive to the "good buyer's agent" if your ultimate goal is to potentially buy the home directly from the listing agent. I guess what I'm asking is what assurance is there that if your buyer's agent finds that great property, you won't go around him/her and buy directly from the listing agent?

Why not hire a good buyer's agent and have him/her work exclusively for you? Otherwise, it sounds like a great reason for an attorney to get involved in a procuring cause lawsuit.
0 votes Thank Flag Link Fri Jan 30, 2009
If there are sellers who want a quick-sale and don't have time to stage/improve the property to get it ready for sale, then I want to see if I can purchase the property directly from the listing agent (of course, after going through sellers' disclosures and all the proper steps). It'll save the seller time, and I won't need to deal with multiple offer situation. So, if there are any up-coming properties in the next few months, I would be interested.
0 votes Thank Flag Link Fri Jan 30, 2009
There are a couple of good questions asked below and there are many other questions that need to be answered before you will have your answer.

A minor point that I'd like to make is that even if you have your answer and there is an opportunity exactly like what you're looking for, you wont be able to take advantage of it because you're not ready to buy right now. It'll make more sense if you ask this question when you're ready to buy.

Ali Moein
0 votes Thank Flag Link Wed Jan 28, 2009

Are you assuming that these "pre-mls" properties won't hit the market and that you will be able to buy directly from the listing agent?
0 votes Thank Flag Link Wed Jan 28, 2009
Hello Amy,
I really can't meet your criteria but would be fascinated to hear your reasons for requiring them. Do you anticipate gaining something by this strategy?
0 votes Thank Flag Link Wed Jan 28, 2009
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