Off The Charts

Working in the above five million dollar market, accurate data is hard to come by.

Clients want privacy, lawyers provide “non disclosure” clauses, and sometimes these properties do not appear in the MLS.  Many of the transactions are all cash, with no loan, so there are not the customary accompanying appraisals.   In the stratosphere, the rules of reporting and information sharing are just not there. 

In residential sales, pricing is based on comparable sales, or comps.  Without accurate and complete comps, buyers and sellers lose the market confidence that they need to make good decisions. 

Internet sites provide information, and sometimes, some of it is accurate. Word of mouth throws in additional information, as homeowners and brokers share what they know with each other, mostly when they are not actively in the market.

The only way to really know what is going on is to find a broker who tracks and understands data, who cares about accuracy and completeness, and who knows why it is important.  What is my house really worth?  Sometimes, it's elusive in the traditional way - you have to go off the charts, and dig deeper for the real answer.