A plugged-in reader reports (and we hadn’t):
Just an FYI (and you may have already covered this), the [San Francisco Association of Realtors] is scheduled to prohibit confidential sale prices in the MLS starting January 1st, 2010 – or face a $1000 fine. For our clients in this range, if they absolutely demand the confidentiality, we will likely just take the $1K hit.
However, I think in the majority of cases, it’s not the necessarily the clients really pushing for confidentiality, but the agent. Particularly here on the North Side, there’s a tremendous amount of self important bullshit, where agents will utilize any tool possible to make their client base seem “exclusive”. So in those cases, I [think] most agents would rather simply post the actual price, forget the whole idea of being exclusive, and save themselves the $1000.
No word on any new fines for simply withdrawing a listing from the MLS prior to close to avoid disclosing a sale price, a favorite trick of the new development crowd (and others).
UPDATE: Another plugged-in reader adds:
My husband and I just closed on a 2-unit. We got it for a very good price since we had no financial contingencies and offered a quick close. In fact, we wanted the price published to serve as a lower comp.
The sellers and selling agent, however, asked that it be kept confidential. They claim they’re worried about the reaction from other buyers whose offers were higher and rejected in favor or our lower, quick-to-close offer.
Well done and thanks for plugging in. Now about those housewarming invitations…
∙ And After
47 Months 62 Days On The Market… [SocketSite]
∙ 3577 Pacific Recap: Withdrawn From MLS (But Sold Two Days Prior) [SocketSite]