Washington bill preventing private listings could be the law ( AND SHOULD BE )

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Washington private listings bill could soon be the law
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Santa Clara County Price Reductions
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It's not a viable thing.
It's not helping you as a consumer, a buyer, or a Seller. It doesn't do that. 'Cause what you're doing is you're limiting, no matter how you look at it,t no matter how you swing it, you're limiting the exposure of that house. To a select few instead of the entire market. So how in good conscience can anyone, from a broker to a huge conglomerate, the biggest corporate real estate business in the world, to a standard agent, tell anybody in good conscience that " coming soon is good for you.

It doesn't, as a matter of fact, and we're glad we're opening this up. 

Bills and Lawsuits

Washington State is introducing a bill into the legislature that could prevent pocket listings because it doesn't help the consumer. At all, and I know you listened to me so intently about all these things that are coming, all this news, nd how Compass is getting sued by Zillow and Zi.

Zillow is suing Compass, and everybody's suing everybody, and it's a big, huge thing. I worked for Compass for a long time, nd I did not like the idea of coming soon. I thought I did, thought maybe, oh, this is really worthwhile. And then when I took a closer look, sure. It helps the stakeholders and stockholders, and the president or CEO of Compass makes more money because they get to double their existing thing.

I get that b, but how does that help the seller? It doesn't help the seller at all. Let's go into this real quick, how we got here. Some large brokerages, most notably Compass, have gleaned in pre-marketing and private exclusives. Industry leaders and state lawmakers increasingly raise concerns about the divisive strategy.

Fiduciary Duty Ethics

You can take it either way, and I'm not here to judge because I am not a, lawyer or a judge, but I think it's a good approach to at least examine the legality, not just the legality, but the ethical value because in fact you're, entrusting a realtor, somebody that's a real estate agent to help broker the sale of your property.

We have a fiduciary duty to you as a seller to make sure you get the best price possible, as well as all the variables, all the terms and conditions. That's our job. That's what you hire us for. And in fact, does Compass do that? Not just Compass, other companies do this too. Even our own MLS has a coming soon, which I think is a crock of crap.

I don't think we should be doing that. When I explain the logic behind it, they understand, Hey, Vito does have thought this through, and he doesn't really care about his commission. He cares about making sure that we get the. Best exposure possible, which is homes.com.

We care which, and I pay extra. I pay dearly for that.  Look, I'm not gonna sit here, and cow tell what my value is. I'm gonna tell you that  Illinois, Wisconsin, and Hawaii have all. Turning into the idea of getting rid of coming soon. Why? Because it doesn't help you as a consumer. 

NAR and Consumer Value

And that's why I don't use realtor on my badge.

I don't like it because Realtors are owned by NAR, and I don't believe that NAR, the National Association of Realtors, does a good job providing value to not only us as real estate agents, but also to you as a consumer.

And I don't see how that is being done. And if they do that well, I'd like to see it. I will be milk. I would call myself wrong, but over 23 years that I've been selling real estate, I haven't seen any value come from NAR to the consumer. So that's where I'm leaving that. Okay.

Elder Care Housing Help

Speaking of value, if you have an elder parent who needs to be put into a care facility, an active adult community, what have you, a memory care, we have a long list of ways of helping you to do that, and that also helps, maybe. Selling your house, their house now, or waiting until they pass away o, or what have you.

There are a lot of strategies that go into it, and I wanna make sure that you're aware of every strategy that I know of. I wanna make sure you understand, nd you're educated before you make decisions. Okay? All right, call me. We'll get that done. 




Homescom Marketing Analytics
So yesterday I told you that we have our house on the market. It's only been on the market a few days. I've had 108 display ads viewed. I've had 128 people take a look at this listing. I've had this impression, this ad being. Put out there just for a few days.

Right. I'm gonna go back, nd I'll show you a couple of my other ones here. Top search results of 791. Do people Matterport views? I understand it's just an added value to you, right? Floor plan views. The floor plan view is huge because it allows people to understand.

What they're walking into before they actually go into it, they get to see the flow and the run of it. And then look, there's analytics, nd this is given to you, so you can look at this daily, weekly, however often you want to, so you can have access to it. And then it also gives you a heat map of how many people are actually looking at it and from where.

Yep. So there you go. This is live, real-time. We'll do this one right here. Well, no, this one right here, because this one's a little bit newer. Regency Place. They've had 42,000 views. They've had floor plan views, Matterport views, shares, leads, and top of search results. 2100 ads viewed, meaning that they've clicked on it. Yep. Awesome. Right, and here's your little graph of the days that it gets pushed out there, and how many people look at it in different ways.

Spotlights. These are internal, homes.com pages that. Put that ad into it. And then also, these are all the sites. this one's fully populated now, right? 2100 retargeting views. Retargeting ads means that you went to cnn.com, dropped a cookie on your pixel, it's called onto your com device, and then you went to BBC or people, or CBS, and then we retargeted, we pushed that ad to you again.

That's huge. It's all part and parcel of my marketing package, right? And here's that heat map, right? You get to see where people are looking from. So we get exposure all over the US just for this on top of the Ella MLS, on top of the Zillow, Redfin, and everything else, right?

That's just an added value to you as a home seller, and you get to see a little bit deeper dive into it. So there you go.  



Market Highs and Lows
This is the highest, most expensive home sold in Santa Clara County. Sobe Road in Saratoga. Not my listing sold for $11 million. It took one day to go on the market, eight bedrooms, seven and a half. Seven baths. 6,000 square feet. 800 A DU.

Yep. Built in 19 or 2023. And we're not gonna go into the digits. You have access to this information on the blog. Okay. 141. Picture's crazy. This is the lowest-priced home. The school in Santa Clara County is on Loma Chiquita Road, which is in Los Gatos. One bedroom, two bath, 900 square feet, built in 1985.

Let's take a quick look and see where this is. Yeah, it's gonna take you a bit to get there. Let's do a quick map of 225,000 or 300,000. Right? Why not? I mean, it kind of makes sense. Then directions from six to

445-minutedrive. There you go. That'll be a fun drive. But you're also paying for an air plan. You also get 10 acres, so that's some value there. If it's. Pliable.  That's what the land looks like. It's kind of dug out. It's pretty Spartan here, but there you go.  


Pricing Ratio Lessons
The highest list price to sales price ratio started off at a million dollars, and it took seven days to sell at $1.4 million.

Again, you're not messing around. You're attracting the market. You know your house isn't gonna sell for that. Summit Road L, os Gatos. This is the lowest list price to sales price ratio, which was 79%. Because it took 253, somebody thought it was worth $3 million, then they went down to 2.5, and then they settled at 2.3 instead. They could have just listed it at $2 million and probably got 2.5 for it.

 And then here are the numbers right here. And here's a graph for you to take a look at. And all these numbers are there for you in case you want to take a look. All right. 

Wrap Up and Goodbye

That's it for now. Thanks for watching. I'm Vito with Abano.

 

Santa Clara County High and Low's
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Vito Scarnecchia
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