La Jolla Realtor Tiffany Torgan has always believed the internet to be a powerful tool in selling property. She believed in it long before it was a trend. And still does.
A La Jolla resident and broker/owner/Realtor of Prestige Properties, Torgan relocated from her hometown of Dallas to San Diego in 1999, bringing her internet-based business along with her. She promptly began selling homes all over San Diego County.
During her 30-year career, she has closed deals on more than 1,200 homes and has worked closely with hundreds of families, diligently assisting them with every last detail of their transactions.
Torgan said COVID with its distancing restrictions forced a sea change in the way mainstream real estate was being transacted. “People started using online more, even before COVID,” she said adding, “Right now, people are just trying to catch their breath because everything has gone so fast like interest rates rising.”
The San Diego real estate market is stuck in stasis, said Torgan. “We still don’t have a ton of inventory,” she noted, pointing out there are a lot of possible home sellers out there, but with higher interest rates now she said, “They are not as inclined to buy another house for a much higher interest rate unless they really need to move.”
Torgan said interest rates going up to counteract inflation is “what has caused it (real estate) to slow down. Now people are just kind of wary. They don’t seem to be in a hurry to buy. They need a place to live.”
Nonetheless, Torgan added, “Things (properties) are still moving if the price is right.”
Torgan has significantly raised her professional profile by appearing as San Diego’s real estate expert on HGTV. She has also been featured and interviewed on local market conditions on several local news channels such as KUSI Channel 9, KGTV Channel 10, and KFMB Channel 8.
Asked about keys to real estate success in rapidly changing times like these, Torgan replied, “You have to be able to adjust with the market. I’m trying to tell people now to ‘price it right.’ I’ve seen people who bought something two years ago for $600,000 getting over $800,000 for it. And they think it should be more. I’m having to educate them that, ‘No, this is not a normal return. This doesn’t normally happen.’”
It’s still unquestionably a seller’s market today. “Prices now are still 14% higher than they were last year at this time,” Torgan said. “I’m trying to explain to my sellers, that you’re still getting a great return, more than it was last year.”
Torgan explained that interest rates “have much more to do with your monthly payments than the price of the house. That is what is going to dictate what your payments are. With prices going up as they have, people are not going to be able to qualify for as much house.”
Noting she has “never been old school and always ahead of the curve,” Torgan added that increased internet use over the past couple of years has largely been COVID-driven. “I’ve been using the internet since 1997,” she said adding people online now “basically see the house sight unseen, without my physically having to walk them through tours. It was enough for them to feel comfortable buying properties without seeing them. And there is also Matterport, a 3-D virtual walking tour that I’ve used. Ever since COVID, I’ve seen much more need and use for that tool. That is also very helpful, and useful, for out-of-town buyers.”
Torgan was the business owner of Harcourts Prestige Properties of La Jolla and also specializes in relocation and luxury sales. She is recognized as an industry leader and has recently gone independent again, and is now focusing on full-time residential real estate sales.
Above all, don’t fear technology, counseled Torgan. “You need to be constantly keeping up with technology, and not be afraid of it,” she said. “That is something I have been doing for a long time.”
For more information, visit tiffanytorganandco.com/.
REALTOR TIFFANY TORGAN
Where: 7855 Ivanhoe Ave.
Contact: tiffanytorganandco.com, [email protected], 858-504-8433, 858-459-5478.
