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Have you or anyone you know in Southern California ever been approached by an agent about your home when it wasn’t even listed? Would you know what to do?
I recently read an article relevant to buyers and sellers in our area, particularly offering advice on what to do in this situation. Why does this happen? Well, when inventory is low, buyers need to get creative with ways to shop. Sometimes aggressive buyers will approach unlisted homes and hope for the best.
Follow up with the buyer! Listen to their reasoning and ask them how long they’ve been looking for a home, what other offers they’ve been making, which neighborhoods they desire, and what about your home stood out to them. Understand their motivation and circumstances. By that point, if you’re seriously considering the offer, enlist a real estate agent. The best option is to consult an honest professionally before negotiating the offer.
Be aware, though, that off-market deals aren’t always successful. Often sellers aren’t motivated enough to let their properties go, and nearly every deal of this kind has a conflict over the last few thousand dollars. If you receive an offer on your unlisted property and you’re motivated to sell, this could be an opportunity for you!
Likewise, if you’re a buyer who is unhappy with the current inventory, consider an offer on an unlisted property. Recently I had a client who we showed five or six homes to, but they just could not find one to fall in love with. I noticed the neighbors of the last property I showed them were fixing up their home! I asked my client if they’d consider the home and they said yes.
I called homeowner and found out they had been fixing up the house with a high-quality remodel for a year so they could sell - in the next three to six months. I asked if they’d speed up the remodel if I had a buyer who was interested now, and they agreed! We put a deal together and closed in 45 days.
If you’re looking for a home but haven’t found “the one” just yet, let me know what you’re looking for. Contact me, I’d love to help you with your real estate needs!
