30% of listings at America’s biggest brokerage are invisible to you.


 

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30% of listings at America’s biggest brokerage are invisible to you.


WHEN IT'S TIME TO SELL YOUR HOME:
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Vito Scarnecchia,
Broker, Realtor, Dad
Abitano.com DRE01407676 408.479.2427
Call today to get started! Offer Valid until 5/1/2026a
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Trying something absolutely new here. I thought I'd share with you some of my TikTok meanderings and findings. And there you go. A little bit of eye-catching, a little bit of fun, a little bit of you never know, right? So there you go. The link is in my blog for sources, so I'm not stealing anything. All Right.

let's go in. 



Invisible Listings Debate
The biggest news piece that I have right now is this right here. Approximately 30% of listings are invisible to the regular home buyer. Okay. How does this help you as a consumer? How does this help you as a buyer? It doesn't. This helps the compass, this helps the stakeholders and stockholders.

This helps agents, and I'm not a huge fan of coming soon. I'll tell you that straight up, 'cause I don't think it helps you as a consumer. NAR allowed it, and our MLS has allowed it, and I'll show you in a minute here some of the different ones that we have coming in, but I don't think it helps you.

It forces you to work with somebody that you might not want to work with. It forces you to work with a Compass agent if you want to see all of the listings, and I think that's monopolistic maneuvering, but I'm not a lawyer, so don't ask me what the truth is. I don't think it's helpful to you.

Bottom line, if you're a buyer or a seller, you're not being serviced. You're being. Sold on how to sell your house, thinking that it's great that you can do it exclusively. 

Off-Market Pros and Cons

Now, I'm not saying it's bad for everybody. I've sold houses off-market where people didn't want to do open houses. They did not want to have hundreds of people stomping through their house.

I totally understand that. If it's a very exclusive luxury home, I could totally understand that. But for a regular track home, it's just a marketing ploy. You don't get caught up in it. It reduces visibility. 

Compass Controversy

There's a huge controversy between them and us. I'm not with them. I used to be with them, and I thought that would be helpful.

And then when I went through it once or twice, what I realized was that it was just a marketing scheme. And now the CEO Robert Kin is putting his. Reputation on the line to make sure that everybody understands that he's the king daddy.  But here's something that a lot of people don't know. If they had an opportunity to leave, they would; this is not mine.

This is not something that. This isn't just Compass; this is anywhere. There's Century 21, Coldwell Banker, Sotheby's, Coco, blah, blah, blah. Said they would consider leaving if Compass's acquisition moved forward, and 18 said they'd definitely go, 21 said the deal would negatively impact their business because nobody wants to be the 800-pound gorilla.

From a CEO standpoint, from the C-level standpoint, it absolutely makes sense. But if you're an agent, if you're an individual contributor, if you're a real estate agent or even an office manager, how does that help you? Yeah, you get great tools, eh? They're okay. Oh, you get the big name? Yeah. Okay.

You get to do something exclusive. 

Why I Left Compass

Well, we already discussed that it's not helpful to you as a consumer, and when I was there, I left. I liked the people. My office manager, my broker, and all the individuals that I worked with, including the admin staff. They were amazing. I just did not like it.

It wasn't my fit. It could be a fit for many people, and I totally understand that. But that's not a fit for me. And I, that's why I went to a basic, pay for what you get.  Broker where I have access to a broker anytime I want. I have access to legal anytime I want. I have access to anything I want anytime I want, but I don't need it.

And when I do, it's there at my fingertips just like every other decent. I'm not saying Compass or Century 21 are not decent brokerages. I think they're fantastic. I think Coldwell Banker teaches their agents to be first in class. Absolutely. But this whole thing about keeping your house listing off-market so that you can market it exclusively does not help you as a consumer.

And you know, you can read all these AR articles down in my blog. My blog is linked below. 

Okay. 




Los Gatos Deal Watch
Los Gatos House of the Week. One and a half million dollars list price, decrease one bedroom, one bath. I think we talked about it last week or the week before, but it was 764 square feet on a 2,500 square foot lot.

Not much you can do with 2,500 square feet. It's going to make it really difficult for you to build anything on there unless you want to go multi-density, which probably isn't allowed in Los Gatos. And the one thing is, it's. It is walking distance to downtown, right?

You got that, but I don't know how you're going to put 2,500 a, a house, a McMansion, a large house that's worth at least two and a half million dollars, because if you build a house, it's gonna cost you about a million dollars if you pay 1.5. I don't know how you're gonna be able to put that on a very small lot, which is why it started off at 1.75.

It's been on the market for 66 days, and it's now down to 1.5. I bet you could probably get it for a million bucks if that's something you want to do. Yesterday we talked about Willow Glen. Same idea. It's what's happening these days, right? If you want to get into a nice neighborhood, this is what you kinda have to do unless you have tons of stock.

All right. 





Pricing to Attract Buyers

List price to sales. Price ratio. The highest sold price in Santa Clara County was this one right here. Let's just do this real quick. 11 point 11 and a half million dollars sold for 7% over list price. Why? Because they are attracting the market. They're not making the market. Let's go this real quick.

Bing Five 30. There you go. And then we'll do eight, my client. Full. There we go. $11 million for the prettiest standard-looking house.
  
 Oh geez.

Yep. Palo Alto. 10 million. $11 million sold in seven days. Why? ' cause it was probably worth $11 million, and they underpriced it by a million dollars, and they got people in.

Seven days on market. I'm telling you, if you market it correctly, you're helping yourself put it on the market for a few days to see where you are. If you overprice it, it's going to sit. This one's sold in 7 21 days, which is not abnormal. It's not against the market. I think it's 25 days to sell in Santa Clara County,

23. On average, if you go over that, you're hurting yourself, right? Just understand you're hurting yourself. But this one sold at a hundred percent. It's the lowest-selling house. It's in San Jose, right by downtown. So there you go. This is for a renter. This is the highest list price of sales. The price was sold for 30% over the list price.

The original was $2 million. Sold for what? 2.7 sold in eight days. Why? ' cause you attract the market.

Don't be afraid. If you list it at where you think your market is or above, you're selling in a lack, and you're not gonna sell your house, period. 





Overpricing Costs You
This is the highest and the lowest list price to sales price ratio. Again, you have the mindset of, well, they're going to negotiate with me. Well, what if you just attracted the market and got bids instead of one offer?
Now you're at 2.4, now you're at 1.9. So you lost $500,000 because you had a mindset of lack. If you listed at $2 million, you probably would've got 2.1, 2.2. No, you had to be at one. Whatever its cost, the value is the 2.3 acres, not the older house. The house was built 50 years ago, and it's nice, but you're also.

On New, I sold a house on New.

Huh? See if there's a lot. Picture of the lot.

Hey, this is a beautiful house, you know, this is great land, great use of all that they put together. They have a nice metal shed pergola. I like it. It looks great. I think they did a fantastic job, but they were greedy. They started off too high, and after 30 days,s they said, let's get this thing offmarkar off the market and just drop it.

That's what you have to do. Sometimes it could have been worth $2.2 million, but you had to push for the extra 200,000 because of a lack of greed.  All right. 





Vito Marketing Pitch
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When you list with veto, we advertise on homes.com, which aggregates to all the public portals, not portals, but public websites like Netflix.

Pandora, NPR, Hulu, NBA, TLC, and you name it, right? But also when we bring people to the website, and they're looking in a specific area and your house, your listing falls within that area. It gets pushed up as promoted. That's part of the value that we do. We push your home to sell it quickly.

All right.

Wrap Up and Goodbye

That's it for now. Thanks for watching. I'm Vito with Abano. We'll see you out there.

 



Santa Clara County Highs and Lows
🔴  5 Cities Near San Jose | Moving to San Jose https://youtu.be/sDkdDq42vo8?t=46  
🔴 The Five Biggest Turn-Offs For Homeowners https://youtube.com/shorts/lwknH5DCS5c 
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Vito Scarnecchia
Real Estate Broker, Veteran, Dad
DRE#: 01407676
408-705-6817
Vitos@abitano.com 
FREE DESKTOP APPRAISAL https://www.propertyrate.com/agent/vitoscarnecchia
If you are moving ANYWHERE in the world, let me know! I know a LOT of AMAZING Agents!
🔴 Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg

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