Is your home hidden in plain sight?
On Zillow, it just might be!
If your property is For Sale By Owner and you are on Zillow, you are in what is called “HIDDEN ZILLOW.” Why is it called Hidden Zillow? Go to the Zillow site in a different city. For example Chicago. Look for a property in the $500,000 price range. Do you see any For Sale By Owners? No you will not. It is because in a way, “they are hidden”. But you will see property using the Hybrid program and others listed by full and part time real estate agents.
10 YEARS AGO
HYBRID SELLING – super low cost to sell and get 10 times the exposure of Zillow
Is this with a regular real estate company?
Yes. We are Realtors. We have all the documentation. There is nothing lacking.
Can I advertise on Facebook marketplace?
Yes. However, your ad on Zillow will move from the Hidden Zillow program to the PZ, Prominent Zillow program. And we will direct those buyers to you if you choose to show the property yourself.
Has this program been around long?
Yes. It was first taught at the University of Missouri, St. Louis (UMSL) in 1998. We have been providing this creative solution for over 20 years.
Is my asking price correct?
We also serve national relocation firms with a process called BPO. The Broker Price Opinion looks similar to an appraisal, however it is not an appraisal. We provide services to corporations and individuals as they relocate locally and internationally. We have an extensive pricing program that takes into account the benefits to your property, the condition of your property, and the Velocity in your market.
What is Velocity?
Each of our properties rises and falls based on several or national factors.
The ratio of buyers under contract to the sellers that are available.
Ideally there are zero expired listings. But often even Realtors fail to sell their property listings. When the failed listing exceeds 20% of the market many sellers will begin to experience depreciation as sellers “fight for the next buyer”.
It is normal for 1 out of 10 to fail, but not 2, 3 , 4 out of 10. When this occurs, ‘days on market’ climb. When this occurs, “there are many more price reductions”. When this occurs buyers are pulling back and prices are falling.
NATIONAL EFFECTS ON LOCAL VELOCITY
For every 1/4 of a percent interest rates rise, buyers exit the market. During Covid rates were at approximately 4%. As of this writing the rates are approximately 7%.
In some areas, housing inventory is just sitting there. Few showings with sellers saying “I will not drop my price.”
True, the seller may not drop their price, but the value is being reduced in any case.
How do I get to see my property’s Velocity?
We will give you the data. There is no fee nor any obligation on your part. We do this as a process to prep your property for the market.
- More under contract than for sale.
- Low days on market.
- Little or no expired listings in your price point.
- That your property is one of the best on the market.
Can’t I wait till the market gets hot?
Yes. If you are in a healthy market it could possibly stay that way. But watch your Velocity report. If the market shifts due to economic conditions your equity will begin disappearing. If your Velocity heats up, or the price point 50% below you heats up, you could be experiencing appreciation as we speak. If you are considering selling, it is important to know your numbers.
Is spring season the time to sell? (Or in the south, is it best to wait for the Snowbirds to return?)
This is a simple answer. Make your decision, not based on what a Realtor may say, but rather what your Velocity report says. Most people are surprised to see that 60-65% of the properties sell in the opposite market than they would have perceived. But don’t take my word for it, look at your report.
Should I not sell if it is a Buyer’s Market?
If you are not truly in a hurry and can wait it out, the market will most likely appreciate as we move through some of the current economic trends. If you want to move in the next 24 months and your Velocity report reveals you are in a BUYER’S MARKET, it may be wise to make your move now.
In other words, “If you don’t like the possible value today, you may hate it in the next 12 months.” In a Buyer’s Market your property may be valued at $1,400,000, however it could be $1,200,000 in one year. Properties DO NOT appreciate in Buyer Markets, they depreciate.
An $800,000 property in March may be a $750,000 property by the fall season.
The good news is, if you stay long term, 5-7 or perhaps 10 years, the equity will often come back to you as your property appreciates again. But if you are thinking of selling in the next 3-12 months or so, you may want to get to the market to avoid “equity reductions” due to a very bad Velocity reading.
Again, please do not take my word for it. These are simply the trends that we have observed since the 1990’s.
What is the good news?
- Your market may be shifting upward. We can help you discover this.
- Your buyer is quite possibly looking on Realtor.com, Redfin, or any number of websites from national and international buyers.
Be optimistic. Consider Hybrid.
Am I still a For Sale By Owner in the Hybrid program?
You can still do some of the By Owner activities and achieve a higher net sale price as your property is exposed to a much larger market. Those activities can increase your chances of finding the buyer, so yes you can continue doing many of those items. Hybrid offers you the opportunity to participate, while hiring a full time experienced pro to enter your property in the MLS.
Can you provide Velocity reports for me in another city where I may purchase?
We have served firms such as Enterprise Rent A Car, Inbev Anheuser Busch, Miller, Coors, Frito Lay, Boeing, Coca Cola, Deutsche Financial Services and many more firms. We assist people that buy or sell property and what we are passionate about, we help people “move money”.
Yes we can assist you with Realtor selection in any city and provide Velocity insight.