Tuesday, August 13, 2013

Beverly Hills Real Estate News 2013. Seller's Market

The First Lady of Beverly Hills Real Estate Reveals How Buyers Can Stand Out in a Multiple Offer Market

With an increasingly competitive housing market, Myra Nourmand recommends adding a buyer's profile to the listing offer

BEVERLY HILLS, Calif., July 31, 2013 /PRNewswire/ -- A Beverly Hills home listed at $2.5 million and sold within 10 days at $100,000 over asking price with multiple-offers. A bank real estate owned property listed at $4.9 million and received 21 offers—some were $250,000 over asking price. Far from exceptional, homes throughout Los Angeles' Westside regularly receive five to seven offers according to Myra Nourmand, a Realtor and author of From Homemaker to Breadwinner. With low inventory and high demand for premier properties, it's hard to believe real estate's near-death experience took place a mere five years ago.

"Even last year, would-be buyers were wondering whether the market had reached bottom. But with prices consistently rising, buyers worry if they don't act now, the price on the next home will be considerably higher three months down the line," says Myra, who specializes in high end homes in Beverly Hills, Bel Air, Holmby Hills, Brentwood, Pacific Palisades, and Malibu. According to Myra, listings between $2 to $10 million are selling fast.

So in this seller's market, how do buyers stand out from the competition? Myra, the First Lady of Beverly Hills Real Estate, and one of the nation's top producing Realtors, suggests composing a buyer's profile. The letter accompanies the buyer's offer and comprises the following three parts:

1.    Address Sellers' Fears
"A seller's biggest concern is whether the sale will close. The bottom line is that they want to be assured the transaction will be seamless and smooth," says Myra. Thus she recommends buyers demonstrate how they are best qualified to meet the seller's needs. Providing details about the buyer such as his or her occupation, length of employment, place of business, years of marriage, and children's ages reveal consistency and commitment. In addition, financial statements prove a buyer can afford the purchase.
2.     Explain Why the Home Is a Perfect Match
Buying a home is as much a personal decision as it is a financial one. Thus explaining the reasons a particular listing is a perfect fit for the buyer adds a face to the transaction. Myra describes how one of her buyers was an artist. "She saw the guesthouse at the end of the yard. She immediately knew it would be the ideal place to work. Having an art studio made the listing the home of her dreams. So we added that information to the letter," she says.
3.     Highlight the Community's Strengths  
As the saying goes, "Real estate is about location, location, location." Buyers should highlight the neighborhood's appeal. For example, if the home is located close to work, buyers can describe how they look forward to experiencing a higher quality of life due to shorter commutes. In addition, if they have children, the letter can state how they anticipate sending their kids to high quality local schools. Or, if buyers are empty nesters, they can explain how they look forward to walking to nearby restaurants and retail areas.

Myra recommends that agents compose the buyer's letter on behalf of their clients. So if you're planning to place an offer on a home, write down how the listing appeals to you. "Describe what works. Imagine you were the seller, what would you like to hear? Then discuss with your agent the role a letter will play in the offer," says Myra. With residential real estate in high-demand markets showing a strong comeback, you must stand apart from your competitors. The buyer's profile demonstrates your strong financial position and commitment to closing a deal as quickly and smoothly as possible.

To learn more about high end real estate sales trends and the book, From Homemaker to Breadwinner, visit Myra Nourmand's blog at http://www.homemaker2breadwinner.com.

If you are an agent working in Southern California and you need an amazing mortgage broker to help with a transaction, Call Bill Rayman

New Contact Information for Bill Rayman

Bill Rayman Home Mortgage

12121 Wilshire Blvd
Suite 350
LA CA 90025




  1. Beverly Hills real estate market is a great place to live in. You can get a wide variety of listings for homes for sale in this beautiful city.

  2. This is getting a bit more subjective, but I much prefer the five-star rating and prefer cleanliness, great coffee and great service. The interface must be colorful, with more flair, and some cool features to choose.
    Luxury Real Estate in Arizona

  3. We must predict what could happen in our business. Start observing other Real Estate Investments Australia so that we can understand how things run. We need to enhance our skills and create a better plan with what we have learned.


  4. Every potential that we can grab for our business is necessary for our investment to succeed. Its not a bad idea to get information from other Real Estate Investment in Australia to ensure our success. Its good to keep everything intact and make anything possible for the success of our business.


  5. There square measure things that we tend to should try and discover relating to Property Investment on however it are often productive.real estate finance we'd like to deliver things for our business effectively specially on however we will apply our strategy to our business. It wants plenty of effort to achieve success on this business however we tend to should try this to confirm our lead on the market.