The real estate market can be full of surprises. Even the most seasoned buyers and sellers have experienced just a fraction of what a busy REALTOR® has overseen. Having closed well-over a thousand transactions in my career, I have come to realize there are many industry understandings that often go unsaid.
Here’s a peek behind the curtain.
11 Things Your Real Estate Agent Doesn't Tell You (But Probably Should)
- If you refuse to commit to work with just one agent, you won’t learn anything about the very best new listings until after your agent has first offered it to his or her most loyal clients.
- The showing appointment is actually at 11:45 AM, but you were told it is at 11:30 AM because you are consistently late.
- You have champagne taste but a beer budget- you are going to have to raise your price or lower your expectations, or hope that prices drop.
- You may never think to see what the house and location are like after dark…until you move in.
- You are going to spend several thousand dollars on property inspections, and may decide not to proceed with the escrow. This may happen more than once.
- Great properties sell quickly and usually, at a premium. Like everything else in life- you get what you pay for.
- The Seller is actually moving because of a divorce (aka downsizing).
- As “downsizing” means divorce, “has character” means the walls are not plumb and floors are not level, “Charming” means it is small, and “unique” means it is strange.
- Your “All Cash” offer isn’t worth as much as you seem to think it is.
- All agents have access to the same MLS listing information – the best agents have access to “off-market” listings. (see the first item on this list).
- Your agent’s reputation could affect the acceptance of your offer and there are a lot of unscrupulous agents that honest agents avoid these days.
In Other 90402 Real Estate News
There Are 19 Active Listings, Including Three New Ones Since My Last Update
- 720 San Vicente Blvd – Listed for $6,150,000. Custom-built in 2010, this Mediterranean style home is about 4,000 sq. ft. plus an ADU. Good flow and scale, but a Buyer will likely be looking to update the floors and finishes. Not much yard space as the lot is 7,750 feet and the detached ADU is nearly 800 sq. ft. Last sold in 2002 for $950,000.
- 409 21st Street – Listed for $9,990,000. This is 3-level brand new construction with nearly 6,900 sq. ft. The 60 ft. wide lot also features a pool and spa. The lot was purchased in 2021 for $4,100,000.
- 371 20th Street – Listed for $8,495,000. Situated on a private, corner, lot this designer-done (Natasha Baradaran) home is very pretty. Built in 2018, it is just over 5,000 sq. ft. Last sold in 2018 for $6,425,000.
Eight Listings in Escrow
- 246 15th Street – Listed for $5,399,000
- 233 22nd Street – Listed for $5,450,000
- 618 10th Street – Listed for $3,698,000
- 635 20th Street – Listed for $7,495,000
- 634 15th Street – Listed for $4,250,000
- 424 10th Street – Listed for $4,500,000
- 345 25th Street – Listed for $6,200,000
- 709 10th Street – Listed for $4,995,000
Two Sold
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428 17th Street – Sold for $6,295,000. I just sold this great new construction “off-market”. If you want to hear about off-market opportunities, call me!
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704 Palisades Beach Road – Sold for $11,000,000. Listed for $10,000,000.
