I’m working with a new client relocating here from the east coast and who is seeking to own one of the Palos Verdes Homes that are either now listed for sale or will be listed for sale in the $5,000,000 - $9,000,000 price range.

One of the questions he asked on one particular home for which he expressed interest was “George, what’s the bottom line on this property? What do you think I can get it for?”

As you might imagine, I’m asked that question all the time and of course the answer is, “I don’t know, but there’s one way to know for sure and that’s to make an offer”. But let’s think about that answer a minute. Why would I not know?

• I’m not a mind reader - how can any broker expect to know what’s in the mind of a seller?

• Why would the seller’s own broker know? Even if the seller told their broker what their bottom line is, things change all the time. By the way, when you’re selling your house, never, never, never tell your broker what your bottom line is and if you want to know why not, contact me and let’s talk about it.

• That “bottom line” whatever it might be at the moment, might be different for different terms of a deal. How long or short of an escrow? What contingencies exist in the deal?

• There’s only one way therefore to truly know what a Seller’s bottom line is, and that’s simply to make an offer and see how the Seller responds

So rather than provide an opinion or a guess to this new client of mine, I worked the problem and gave him some facts to consider. I researched all the sales of Palos Verdes homes sold in this price range in the last 12 months, then performed a standard deviation analysis on the percentage discount from original list price at which these homes sold. Here’s what I found out…

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The first thing I realized is that any broker that talks about averages doesn’t understand the market. You should avoid such real estate agents because they are proving their ignorance. The chart proves that point. While there is preponderance of evidence that most sales occur around a certain percent discount off original list price, that is not always the case.

If you prefer working with a broker that focuses on facts and not guess work, I might be a good fit for you. Use the “Contact Us” tab at the top of this page or the blue Calendly tab at the bottom of this page, or the phone number that pops up on the bottom right of this page - let’s set a time to talk about what you want to do, when you want to do it, and how best to get it. Meanwhile, below find all the properties now in escrow in this price range. For active listings and sold data, contact me or use this link to search. Oh, one more thing on PRIVACY. All the big portals, you’re using them now, I know you are, data mine your computer and mobile devices to scrape your contact info and your search patterns to sell to their advertisers. On my site, your search is private and confidential. I will never sell or share your data. NEVER! That’s a promise. I respect your privacy the way I want mine protected!

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