Julian-Based Real Estate Agents Save You Money and Time!
I’ve often wondered why people would choose an out-of-town real estate agent over a local one to sell their home. Here in Julian, consistently about half of all listed homes are represented by out-of-town agents. Obviously there are times when loyalty to friends and family can influence the hiring decision; however, when those ties don’t bind, recent statistics bear out that choosing a local agent is undoubtedly the way to go!
2012 Real Estate Recap
For example, a careful analysis of 2012 home sales in Julian revealed the following:
• 71% of the homes that sold for over the asking price were listed by local agents.
• Local agents averaged sales of $195.33/square foot vs. $129.91/square foot by their non-local colleagues.
• Homes represented by Julian agents averaged 119 days on the market vs. 375 days for out-of-town agents! That’s an incredible difference in a homeowner’s carrying costs: Would you rather pay mortgage fees and taxes for 4 months or 12.5?
In 2012, of the 100 homes that closed escrow, 53 were represented locally and 47 by out-of-town agents. Eighty-four of those 100 homes sold for under the asking price. Within that category, the listings for out-of-town agents sold, on average, for 23.57% below the asking price, while local agents’ listings sold for 11.8% below asking. Likewise, 75% of the properties that sold for lower than 25% of the asking price were managed by out-of-town agents. To use a more extreme example, 4 properties in 2012 sold for 56–68% below the asking price — a disastrous outcome for any homeowner! All of those sales were handled by non-Julian agents.
2013 Market Analysis Recap
My analysis for the first part of 2013 turned up similar findings and reiterated the benefits of hiring a Julian-based real estate agent. From January 1–May 31, 29 homes sold. Fourteen were represented by locals, 15 by out-of-town agents. The local agents’ average sales were 8.69% below asking price, while the out-of-town agents averaged 15.5% below asking price. During that time period, only 1 home sold for significantly above the asking price, and it was my listing. Julian agents’ listings pulled in $175.85/square foot in the first five months of 2013 versus $156.11 for out-of-town, and, once again, the out-of-town agents’ listings sat on the market longer than the local ones.
Use a Local Julian Real Estate Agent
In conclusion, if you want to sell your home for above the asking price, list with a local agent. If you want to reduce the amount of time that your property sits on the market, list with a local agent. And, if you want to get a higher price per square foot, list with a local agent! Going local just makes sense if your goal is to obtain top dollar for your property.
Like knowing what’s selling, where and why? Keep your finger on the pulse of the Julian real estate market and contact us or call 760-765-1000 to speak to one of our Agents.
