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"Already under contract", a sign of the times

By
Real Estate Agent with Thompson Company, REALTORS® 240.593.2860 MD594797


Trying to set up home tours in the Silver Spring, MD area has never been the easiest task. Mostly it is because everyone has different appointment contacts: call the showing service, contact the listing agent, call the alternate agent, call the owner ...

Imagine, when you have a list of 5 to 10 possibilities you would like to show and your buyer is really excited about no. 2, 5 and 8 but it's proving to be a challenge to get a hold of the showing contact for no. 2 and no. 5.... and all need a window of time when our showing will take place of course.

Yes, it's not always an easy task and sometimes quite frustrating, for my buyers and me. I call and leave voice mails and just to make sure I also send an email .. you never know which will get the quickest response or any response for that matter.

Silver Spring Homes Under Contract AlreadyAs of late, it seems there is always a house or two I never get a response to begin with or I am being told "the house is already under contract".*

It's a sign of the times. The inventory in the Silver Spring, MD area has gotten low. Many homes go pending a lot quicker than they used to. Some get massive amounts of showing requests and others have open houses that feel like a zoo.

Thus, when I have to remove no. 2 and no. 5 from the list, it is not because I don't try hard enough to make the appointments nor because I don't want to show the homes. It is because they are "already under contract", a sign of the times.


*Why the status is not always promptly updated in the Multiple Listing Service is another topic and a post for another time.

Posted by

Andrea Bedard
Thompson Co., REALTORS®

Silver Spring, Maryland
andreabedard.com

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Comments (12)

Mike Dobbins
Realty ONE Group - Cave Creek, AZ
Scottsdale, Cave Creek, Carefree

Yep, we have the same thing happening here in the Phoenix market. Good luck!

Nov 25, 2012 03:09 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Updating the MLS is a pet peeve of mine, Andrea.  Being able to get an update from an agent, or even a phone call returned is another one.  Have a great week!

Nov 25, 2012 03:13 AM
Alan Kirkpatrick
Austin Texas Homes - Round Rock, TX
Alan in Austin

Andrea:

Very nice post thanks for sharing it. Hope you have a great week. 

Nov 25, 2012 03:32 AM
P.J. Virgilio Jr., Realtor 408-568-6578 Selling homes in the Greater San Jose area and South through San Martin, Gilroy
Keller Williams Realty Silicon Valley - Gilroy, CA
San Juan Bautista and Hollister as well!

 

A very easy post to read and full of worthy information, Great job!

Happy Holiday Wishes to you and yours!

Nov 25, 2012 03:36 AM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Andrea. This can be very frustrating to a showing agent. I am beginning to see the same thing here in my area, and Yes, It is a Sign of the Times.

Nov 25, 2012 03:54 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

Hi Mike, we are hearing reports of low inventory from different parts of the country, the market has definitely turned. Good luck to you, too.

It is one of my pet peeves as well Mike. It's frustrating when a listing shows active on every major RE website but you just can't get the showing contact to return your call or are being told that they are already under contract. It's just a bait for new buyer leads??

Hi Alan, thank you. Have a good one as well.

Hi Patrick, thank you very much.

Hi Jerry, it doesn't seem that long ago that we had so many listings on the market that it was a challenge to choose which ones to look at! Now we have the other extreme.. not enough homes to show.

Nov 25, 2012 06:10 AM
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411

Andrea, our MLS may fine listing agents if a pending sale isn't reported to the MLS with 48 business hours.  That rule is intended to prevent the inconvenience to buyers and buyer's agent that you mention.  But violations must be reported.  Don't despair, more inventory will come onto the market in Spring.  One solution to your frustration...prospect for and get listings.

Nov 25, 2012 06:58 AM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

It is definitely a sign of the times Andrea..thank goodness we have a showing service here.  I couldn't imagine trying to get a hold of agents for showings especially if the home has gone under contract..It's hard enough getting a hold of them when you have questions after the showing.  

I am scheduing showings for my out of state buyers next weekend and two of the four intial homes they like are already under option...gotta move quick around here!

Nov 25, 2012 07:29 AM
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

We also have the same thing in our area.  We are allowed 3 days to change the status, but that can be really frustrating thinking a house is active and then finding out it had an accepted offer 2 days ago.  We still have a lot of vacant homes too, so if we can't get ahold of the agent beforehand (I usually call the agent these days to make sure it is available) we risk showing a house the buyer will love and then find out that it already has an accepted offer and is pending....-Kasey

Nov 25, 2012 01:17 PM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

Hi Lloyd, our MLS also has a fine policy and I have reported quite a few. I find it unfortunate to have to do that to begin with. Yes, Listings! We need listings!

Hi Brenda, we also have a showing service - 2 providers actually - but not everyone is signed up, thus, all the different possible showing contacts. Scheduling more than 2 or 3 homes can def. be a challenge.

Hi Kasey, a lot of agents used to not update their short sale listings and argued that it's not under contract until the 3rd party approval is received. However, our MLS rules make it very clear that it's deemed under contract once the contract is ratified b/w buyer and seller and it's contingent on 3rd party approval... It appears not everyone got the memo!

Nov 26, 2012 09:18 AM
Melissa Brown
Helen Adams Realty - Charlotte, NC
Realtor - South Charlotte NC Homes for Sale

Hi Andrea,

Wow, trying to show homes that are already under contract, or worse, actually SHOWING a home where the agent didn't change the status or FAILED to tell me the home was under contract BEFORE we got there...huge pet peeves of mine.  That's happened twice to some buyers of mine recently.  Low inventory, and they get excited about a house they see, only to find out that it's already under contract.  You're right, sign of the times.

Nov 27, 2012 10:36 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

Hi Melissa, I don't think I have ever shown a home that was already under contract but I've emailed listings to clients that were pending but were still showing active. It's not fun to have to then say, sorry, it's already under contract!

Nov 28, 2012 09:39 AM