Pink Tree up close and personal

My favorite April Fool’s prank: A freshman in college co-ed calls her mom to share the ecxiting news that she and her boyfriend went to Vegas. Her mom rationalizes, “Well, she is 18 now…” “And Mom,” the daughter continues…”we got married!” The mother feels a hallow, sickening movement in her gut and passes out.

Do you have a memorable April Fool’s prank? If so, I’d love to hear it. Just as I’m sure you’d like to hear what I have to say about our market.

Well, as someone who has been working in San Francisco, specifically on Potrero Hill, since 1994, I’ve seen the ups, and now the downs, depending on your perspective. What I mean is, if you don’t have to sell, you may want to wait, but if you want to sell, don’t wait another minute. If you want to buy, start looking now and don’t give up until you find something this year. Translation, “Sieze the moment!” And it seems to be true for both parties, almost the “perfect storm” of real estate.

For sellers, I think now is one of the best times we’ll see in a quite a while, say a year or two, give or take. Can you afford to hold on for another year? For buyers, if you can now, buy. If you can “almost” buy, start looking and you’ll find what you seek. Interest rates are still historically low, but all logic says they have to go up. Then there’s the first-time home buyer credit from the Feds and/or from California. And the end to SOME stimulus programs in June.

Good jobs report today. That’s encouraging. That and what I hear from those in other industries. Advertising, PR, legal positions all hiring, from what I hear. Hopefully that’s contagious.

Looking forward to spending Easter with my family.

Cheers!
Michelle

The other way a dual agency can work is when the same agent represents both the buyer and the seller. This situation raises a lot more eyebrows, so to speak. Seems like an inherent conflict of interest, right? I�ve actually done it a couple of times with the full understanding and permission of both my buyer and seller clients. One situation, my buyer clients found a seller that wanted to sell to them directly, so I represented both sides, after they�d agreed on price and terms. Another situation, the buyer I represented didn�t want any input from me on price, and came to that on his own.

In the third case, it was different. I wrote the offer for the buyer and presented it to the seller. When I met with the buyer to write up the offer, we discussed price just as I would with any buyer client. I didn�t disclose to my buyer how low the sellers would go, or any information above what I would normally share to a buyer�s agent. When I presented the offer to the sellers, I didn�t disclose to my seller how high the buyer would go, or any information above what I would normally disclose about an offer I received. No one else was writing an offer, so it was a simpler negotiation process. All parties were happy, including me. I could manage the transaction smoothly, because I was the other agent and I was very cooperative with myself! I lowered my commission, so the sellers made more money than they would have with another buyer, which made my buyer�s offer more attractive. The buyer was able to use the agent they trusted, me, and I knew the house intimately, so my representation paid off for them.

There was one situation where I didn�t want the additional liability of representing both parties. The transaction was too complicated and that would have just added another degree of complication. Also, depending on the clients, it can be a difficult situation, and in those instances, I trust my intuition, and refer the buyer to another agent rather than risk representing both parties. I typically base my decision on whether to be a dual agent on whether I think I can fairly represent both parties, and whether I think they�ll agree, both in the moment and for years to come. My business is built on my reputation, so your opinion of me now and five years from now is of utmost importance. I don�t take these decisions lightly, and neither should you, as a buyer or seller. Trust your instincts and ask every question that comes to mind. Feel free to contact me with any of your questions, if you don�t already have an agent representing you.

Cheers!
Michelle
Direct: 415.637.1898

I don’t know much about running or coaching a football team; I know real estate and coaching soccer and they keep me busy enough; but what I do know is I’m excited for next year.

I’m thankful for so much and hope you are too.
Michelle

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Available Listings:������� http://www.655mississippi.com

My colleagues and I will be presenting State of Green Real Estate, Green Real Estate: Where Are We Now, and Where Are We Headed? on Saturday, September 22nd starting at 10:30am in room 407. We’ll also be at a booth the entire conference, beginning on Thursday, September 20th, so be sure to come by and see us to learn more about the state of green real estate.

Don’t have a pass to the expo? Just contact me and I’ll hook you up with a complimentary pass.

I hope to see you there!