Malibu Real Estate
Malibu real estate sales remain high through fluctuations in the national market, though a decline is seen relative to the national average. When prices drop for real estate in the Malibu area, investors and potential buyers previously excluded from the Malibu market may extend themselves to get in at a low price. For sellers, finding the right price point for a property in Malibu goes a long way in getting the property off of the market quickly. Finding an agent who can effectively negotiate within an acceptable price range for the seller is crucial to a successful transaction, but establishing the price point from which to start negotiations is the definitive decision in most instances. Properties that are thrown onto the market with unrealistic expectations from the seller can easily turn potential sales away. Conversely, starting with a reasonable asking price may leave room for negotiation by the real estate agency or other representation as multiple offers come in. Many of the properties listed in desirable areas of California, such as Malibu, can spawn bidding wars among potential buyers. Sellers who start with a listing price too high may be costing themselves a great deal of money by keeping the offers at bay. Often, listings that are placed on the market with a reasonable selling price can sell higher than what comparables in the regions are getting. The benefits of a bidding war are numerous for the seller, though none outweighs the economic impact of such a transaction. When a bidding war begins, psychological changes take place among those involved. Buyers may have a competitive side which sparks a “take no prisoners” attitude in negotiations. Furthermore, those who see a property slipping away from them through multiple offers may develop an increasing affinity for the property. Although their interest was measured at the time of the initial offer, the more interest other buyers show in their potential residence, the more attractive that residence becomes. Real estate agents working on behalf of sellers can capitalize on a bidding war by drawing upon a buyer’s changing emotions about the transaction. Contracting an agent or agency that specializes in working for sellers is advantageous for those looking to move property in the Malibu market. Though seller’s agents with a track record of strong results may be a bit more expensive than those with no specialty for either party, the investment often proves to be worth all cost. Many agencies brokering deals have seller’s and buyer’s agents working in cohesion to close on a property. Sellers attempting to maximize their take on a real estate transaction should attempt to find an agent working independently for the sale of their property to avoid any conflict of interest. Seller’s agents take their commitments to the client very seriously, and in most instances will clearly be driven by nothing more than the interests of the seller.
