Community Marketing & Real Estate
The real estate surge accelerates!
In the chart below, you can fully appreciate the intensity of our housing market, given the huge increases and decreases all related to one thing…homes are selling well in The Landings!
As you can see in the third line from the bottom, Months of Inventory fell 91% from a year ago, with only 15 homes available in the Multiple Listing Service (MLS) on March 31. The remarkable change in market dynamics is very acute in The Landings but largely being felt nationwide, as it has been widely published that the US market is roughly four million homes short of meeting demand. Simply put, this low supply and extraordinary demand is causing rising prices. In The Landings Company’s case, our sold/closed home values are up 21% versus the first quarter of last year. But are all firms’ listings in MLS? The answer for the majority is yes. For the others, almost all do eventually when the home sale closes.
Realtors all over the country, our competitors, and the Company itself are using every tool available to us to serve this unprecedented market. There are homeowners, particularly during the pre-vaccine period of the pandemic, who needed to sell but wanted to limit traffic. There are folks who wanted to “dip their toe in the water” without their neighbors and others knowing quite yet to take advantage of the velocity of the market, and some others who knew that with the vast amount of marketing the Company does specific to The Landings, we had a great chance of selling their home during an initial period of exclusivity and more.
As just one point of reference, using the 15 homes available of March 31 and the massive number of showings in the chart below, each Landings home listed in MLS, regardless of the listing firm, had roughly 35 showings in March, or more than one a day! This is a good thing for many but not desired by all.
This marketing strategy can easily be misunderstood and is called “pocket listings”, which are not condoned, without the facts. At the Company, we use a National Association of Realtors, Georgia Real Estate Commission, and Savannah MLS sanctioned practice called an Office Exclusive Listing, using forms provided to us when a seller’s situation or request makes this approach the logical and best approach for them.
It is totally at the seller’s discretion and only utilized when the seller has executed a disclosure form clearly outlining that their home will not be marketed in the MLS. The listing firm must notify the Savannah MLS of the Office Exclusive Listing within two days and send the seller disclosure to them. The seller can decide to have us enter their home in MLS at any point during the listing period or at closing. In the Company’s case, the seller nearly always allows us to enter their closing at its conclusion, for all to have access to the comparable closing record.
In our case and in this market, it has been only 15-20% of our listings, and it seems to work well for our sellers, in that our average home value overall this year is running almost 10% higher than all other firms combined. Many homes are selling within hours of execution of listing agreements, whether Office Exclusives or, as with the majority, fully available to all agents with a potential buyer.
Should you have any questions about the market, Office Exclusive Listings, and more, please email or call me (firstname.lastname@example.org or 912-598-0500).
As I stated above, inventory of available homes on the market continues to be a major determining factor in 2021’s success. If you are interested in selling your home and want the absolute highest and best likelihood of a sale, please call us today (912-598-0500). We have buyers in all price ranges who have decided to make The Landings their home, but the home they are looking for is not yet on the market or has been sold before they could even look at it. We would love to have your listing to show them!
The Landings Company is 100% self-funded and can continue only with your support when selling your home, referring friends and family, or renting your home. Thank you again for your support this year!
Your Company, The Landings
This article was originally published by The Landings Association on their website. Visit landings.org to read the original article. https://landings.org/news/2021/05/05/community-marketing-real-estate