The Fall market is upon us, and this year it seems to be moving at breakneck speed.
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The personal stories of one realtor’s battles and triumphs in the highly-competitive Bay Area real estate market, seeking to illuminate and humanize the very real ups-and-downs of homeownership.
With 24 Piedmont listings either active or pending as of 08/18/26, we’re off to a great start. Our darling listing at 6 Greenbank Avenue sold in just one week, as did Stacey and Anna’s beautiful property at 66 Manor Drive, while the sweet brown-shingle at 21 Lorita Avenue, represented by Matt and Teresa, sold in one short weekend. All COMPASS listings, each headed by a COMPASS team (thank you very much), and extremely deserving of the early attention they received.
Why so fast?
Because, quite often “the bird in the hand beats two in the bush.” That’s not to say that running the full marketing period can’t produce fantastic results — it often does — and when we expose the property for two weeks, we absolutely know we’re not leaving money on the table. However, waiting the usual 12-14 day cycle doesn’t necessarily mean you’ll be rewarded with a higher offer in the end.
Thus, if an early offer is truly COMPELLING (lukewarm, tepid, or mediocre proposals need not apply), we’re likely to encourage our Sellers to at least take a look, and if the offer is less than jaw-dropping, we’ll politely ask the Buyer(s) to return on the offer date (no harm, no foul) and use their early interest as bait. (If you’re going to come in aggressively, write high, or don’t come at all.)
Moreover, good Agents will immediately reach out to anyone else who has expressed interest before encouraging the Sellers to sign on the dotted line. That way, if there is someone willing to pay more, they’ll have an opportunity to do so. Yes, it’s a fire drill to be sure, but it’s not only doable, it’s sometime preferable, DEPENDING on the circumstances. That being said, the speed can definitely be off-putting for some.
What’s more, not every property (or every Seller) benefits from this quick approach. By way of example, we received an early preemptive offer on our listing at 132 Caperton earlier this year, listed for $2,495,000, and while certainly respectable, it left the door slightly ajar. After lengthy discussions, the Sellers declined, only to have those same Buyers write for significantly more come the offer date. (They were now in heavy competition.) That property closed at $4,200,000 — a HUGE win by any measure, and WELL above both the list price and their original offer.
Runners, take your mark — for a competitive race that requires endurance and speed.
But be forewarned, the “preemptive play” isn’t for everyone; it requires a steady hand, a leap of faith, and NO second guessing on either party’s part. Because once a deal has been struck, there are no do-overs. That means the Sellers will never know if they could have achieved a higher price by waiting, and the Buyers won’t know if they could have acquired the house for less.
In truth, if you plan to jump into a house prematurely, count on paying a premium for the property. In essence, you’re paying NOT to compete on the open market with other interested parties, but that advantage doesn’t come cheap.
BTW, a preemptive play is different than an off-market sale where the home never reaches the open market at all. In the preemptive scenario, the listing is live on the MLS, and has had a Sunday Open, and perhaps a Brokers’ Tour, but the property is snapped up before an offer date is ever set, often cancelling the second week of Opens.
There’s nothing wrong with this approach, and it can be a welcome relief, especially for the anxious Seller, as long as you slam the door on anyone behind you. If you’re hoping to snag a deal, this isn’t the time or place to do so. If a discount is what you seek, look for homes that have struggled and languished on the market for 30 days or more. Discounted properties DO NOT come about in the first five days of marketing.
As an example, I recently had a potential Buyer drive by one of our listings that is busy being prepped. Workmen were clearly painting, planting, hanging lights, laying mulch, etc. This Buyer then called and said, “I’ll give the Seller X, and you can stop the work right now.” Alarmingly, she hadn’t stepped foot in the house, nor had she read a single disclosure, which doesn’t exactly build confidence that the deal will survive, let alone close.
Without being entirely disrespectful, her number was achievable half a dozen times over, so the answer was a swift “No thank you.” (That’s not exactly what the Seller said, but this is a G-rated blog.) Again, if the goal is to nab the house before anyone else has had a chance to see it, you better have your ducks in a row. That means signing off on ALL disclosures, and being prepared to write a BIG FAT WHOPPING number. (Winner, winner, chicken dinner.) Otherwise, wait for the house to come to market, and submit on the offer date like the vast majority of Buyers.
However you proceed, understand that buying a house in the Bay Area is a highly competitive race that requires endurance and speed. Ready, set, go: “Runners, take your mark.”
How can we help you?
Julie Gardner & Sarah Abel | Compass Realty
Not just Realtors, but consultants in all things house and home, we’re here to educate, explore, examine and refer . . . In short, you may count on us to take care of your home as if it were our own and anyone who knows us, knows we take pretty darn good care of our homes.
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