As of this AM, we have 554 active real estate listings in the Santa Clarita Valley Cities.
The cities that I'm reporting on are Acton, Agua Dulce, Canyon Country, Castaic, Newhall, Saugus, Stevenson Ranch, Valencia and of course – Santa Clarita CA. paris911.com/santaclaritacities
Santa Clarita Valley has a total of 841 listings that are combined Active Status and those in Back up position.
Back up – a listing that is within escrow with an executed purchase contract (offer), between the seller(s) and a buyer(s). This status is used when the seller wants to have additional offers submitted on their home, condo or townhome. Viewings and showing should be happening, as they did before when the property was active and without contract. For more information about the back up status go to paris911.com/backup
This is not usually the case. Although property showings “should be” happening, because of the “back up” position being used in the MLS, more often, it's used because Realtors know that this status still shows the listing “active” and for sale within some of BIG the Real Estate syndication websites. For further reading go to Paris911.com/Syndication
So, leads are still being generated at 100%, as they were before when the propety was in Active Status.
Misleading, Yes! Just make sure you have your agent call to verify the actual status of the the real estate listings you are interested in.
I'd say 90% of the time the Back Up status is being used miscorrectly by the listing agents.
When I call for a client, I'm usually told that the seller does not want to have the property shown any longer. When I ask about the back up position, It's as if they are a deer caught in the headlights and stutter along attempting to explain their misleading strategy. It falls on deaf ears, I know the game.
The only way for you, as a real estate buyer, to know for sure is by contacting your own real estate representative and let them run the recon for you on the listing you are interested in. For extended reading about using listing agents to buy real estate go to Paris911.com/ListingAgents
We make several phone calls and email inquiries about real estate listings that appear to be active, only to find out the listing agent did not change the status on them, fearing leads may be lost.
Those “leads” come by way of some of the syndication websites that are marketing these listings for the listing agents.
I went on my usual rant about not having the correct status on the real estate listings for sale. Real Estate for me is a pleasure, and doubly so when I can inform First time and savvy Buyers and sellers on how to be safe when stepping up to the real estate plate.
Enjoy the learning and reach out to us when you are ready.
The video above is one in our First Time Buyer Series we shot yesterday about lending and the most common loans that are currently on the market you can use to finance the home you maybe buying.