Working for Buyers: The Representation Agreement

Brown eyed rufusAll of us get our butts out of bed in the morning for different reasons. For us, it’s this pesky dog. Rufus the Dufus whines and cries and whimpers at the crack of dawn until we let him out to go potty. He is an annoying little 50 lb.-creature, but he gets us out of bed. It’s hard to be mad at him once our sleepiness subsides.

What gets us into the office is something entirely different. Our Clients have an expectation that we be at the top of our game when it comes to representing them. There is a big difference between a “Buyer Client” and a mere “buyer customer”. We ONLY advocate for the interests of Buyer Clients after they’ve formally retained our services to do so. We’d rather avoid working on behalf of buyers for weeks or months, putting aside our evenings and weekends and family time only to (argh!) have a buyer suddenly decide to have their newly licensed cousin represent them, for example.

Part of formal buyer representation includes an “Exclusive Buyer Representation Agreement”. This document outlines what the buyer and agent parties can expect of each other and what documentation is required to get started.  We take representation of Buyer Clients as seriously as we take our representation of Seller Clients. Here are a few of the benefits of formal buyer representation:

  • We’ve built a reputation among fellow agents in our market area for having rock-solid buyers. Our Exclusive Buyer Clients benefit from this by having their offers submitted by us be taken more seriously, especially in multiple offer situations which are common in our area. This means we have compiled a complete Buyer Package before we show even one property to a buyer.
  • Exclusive Buyer Representation ensures our Clients that they are our first priority. Evenings and weekends, for example, are reserved for Clients first and foremost.
  • Many of our Clients are high profile, very busy individuals. We take the time to preview properties for Exclusive Buyer Clients and record walk-thrus and report to them whether or not a property is even worth seeing.
  • We attend weekday real estate marketing meetings where we broadcast what our Exclusive Buyer Clients seek, and often learn about upcoming listings long before they hit the market.
  • We send out monthly real estate e-newsletters to broadcast to our databases what our Exclusive Buyer Clients want, and through this medium, we also learn about properties that will be available before they hit the market.
  • If our Exclusive Buyer Clients MUST move into a specific neighborhood, we’ll knock on doors and send mailers out to ask those neighborhood property owners if they have interest in selling rather than wait around for something to come available.

Right now, our Exclusive Buyer Clients include a recovering peninsula dweller buyer, the newly engaged couple, the seller of this gorgeous home who’s buying in the San Ramon area to be close to family, and also the family of a US veteran who’s seeking an affordable home in the East Bay.

We’re darn good at what we do, so there are certain steps we take before we use our talents, expertise, network and experience to advocate and help protect a Client’s interests. There are only 24 hours in a day, after all…

 

Say Yes First, Then We’ll See

Image-wedding and engagement ring 200

In addition to the Exclusive Buyer Clients we have who jump in head first or take their time to make a decision, we also have those who are “perpetually engaged”.

One such Exclusive Buyer Client of ours has been “engaged” for quite a while and for a number of reasons, has not sealed the deal.

Being “engaged” in a real estate transaction means that a proposal has been offered and accepted. The engagement is sometimes dragged on and on for many months while one or both parties work on some issues.

Sound familiar, all you serial monogamists?

Seeking an Ideal Match

Marissa headshot
Recovering Peninsula dweller seeks urban oasis in hip, diverse, warm Hayward or San Leandro. Marketing geek, takes all corners on the tennis courts, easily persuaded by cabernet, burgers and new cuisines, loves food & podcast recommendations.
Her ideal mate is a home that has two-three bedrooms and at least two bathrooms on a single level on a large lot with room to build, or even a duplex.
Serious suitors for her purchase only. Show your goods and she might be interested!

 

Jumping In Without Contingencies

client photoMeet our daring and dashing Exclusive Buyers Clients, M & B!

The subject of putting all your eggs in one basket doesn’t allow much wiggle room for an “out” — not without penalty, anyway.

When it feels right, there’s no denying taking the plunge. That’s what M & B did recently, in two ways:

  • They made an offer on a property with NO CONTINGENCIES
  • They got ENGAGED! To be married!

Let’s hope they don’t find anything wrong … with the property, of course. Otherwise, they’re stuck!

CLICK HERE for an artist reception featuring the work of “Slate Quagmier”, shown here.

 

Making the Case for Stairs

 

dogs on our stairs
(This is not a photo from a scary movie. These are our dogs Piglet & Rufus. If you can’t tell who is who, then you have no sense of humor.)

 

I don’t know about any of you, but I like tight buns. I like having them too, which is why I love living in a three-story house.

We have many clients who love stairs. They feel as if they’re on top of the world when their homes are up high. I remember shortly after moving in to our home, I sat in the hot tub located on the lower deck of my home with my mom. It was dark outside and the house was lit from within. I looked up at the three levels of my home and said, “Mom, I feel rich.”

I’ve also had dreams of living in a home with many levels and the higher up I climbed, the less “stuff” each space had. I’ve also had dreams of a vast “basement”-type area with what appeared to be hordes of space and so much potential for improvement.

Although I sometimes get winded going up the stairs when hauling up the laundry, I am grateful for the opportunity to do so. I know that walking up stairs helps me to keep my muscles strong and adds to my overall health.

So, how about a nice home with a built-in opportunity for a healthy daily work-out?

Get out of my house!

I don’t like living under anyone’s thumb. I hated being a kid. I had no choice but to do everything I was told to do, simply because I was a kid.
Don’t get me wrong. It’s great to have someone else worry about food on the table, a roof over my head and making sure all the bills are paid.
With all that said, I still couldn’t wait to get out and enjoy my freedom. I was out of the house when I was a teenager and for the short period of time I can back home at the age of 18, I insisted on contributing toward the household in the form of CASH. This was my way of buying silence from my family members. In other words, “here’s some money, now shut up”.
As a responsible working adult, I’ve run into an interesting phenomenon over the years which I’ll refer to as “The Curse of the Undermotivated”. This can be loosely defined as “any individual of legal working age who can work and pay their own bills but choose not to due to someone making it easy for them to be slugs”.
It makes me angry when I see adult children taking advantage of their elders. They live under mom’s/dad’s roof, pay nothing toward the household expenses and never lift a finger to help clean up even their own mess.
What upsets me even more is that the parents offer to pay for all the Slacker’s stuff — cell phone bills, car insurance, tires for the car they bought the d— kid, etc.
Let me tell you one more thing. These Slackers, in my experience, have never been females!
I’m just sayin’…

Homes Available Soon!

porch sunset view
26630 Call Ave. in the Hayward hills

4160 Perkins Ct., Fremont: 3 bedrooms, 2 bathrooms, 2-car garage, 1811 sq ft (AVAILABLE SEPTEMBER 2016)

26630 Call Ave., Hayward hills: 3 bedrooms, 2 bathrooms, 2-car garage, 2300+ sq ft (AVAILABLE SEPTEMBER 12th)

Call Anna May: 510-886-ANNA (2662) or Greg Jones: 510-886-GREG (4734)

Dilemma of the Betrothed: A Home-Buying Tale

 

 

Meeting of the Betrothed Couple ( )
Meeting of the Betrothed Couple ( ) (Photo credit: Wikipedia)

 

Once upon a time there was a proposal. It was a win-win proposal where everyone happily entered into a contract to consummate the sale.

Plans were made. Future in-laws were notified. Money was put on the line.

Then there was a delay. One of the betrothed got impatient. Things were happening too slowly. Grey hair started to settle in on his crown. His kingdom was becoming less of a reality and more of a piper’s dream. He consulted his wizards who advised him to be patient and allow more time. He signed, sealed and delivered his wishes to the keepers of his betrothed, which was still under the whim of those who took root. Those wishes were written as follows:

“Perform! Perform in accordance with the engagement contract or I shall issue a final warning! If you still wish to refrain from performing as promised, I will leave the kingdom and take my riches with me!”

So goes the tale of the Buyer – Seller dilemma when one party fails to perform a term of a contract. Like any engagement, there will be ways to keep it together and still other ways to escape. Sometimes there will be consequences; other times, there will be reward.

Buying and selling property is just like being engaged for marriage. When one partner doesn’t behave, it may be time for communication to elevate to a certain level of formality. In real life, we can make relationships work, but sometimes it’s better to break the engagement and move on to a better fit. Sometimes one party hasn’t enough motivation or confidence to continue. Sometimes both parties agree to amicably separate. Other times, there may be a fight.

A broken heart always comes with a price. So does freedom…

Just what they wanted! The Zalamea Family

Zalamea family photo
An FHA purchase, the Zalamea family won their home in a multiple offer situation.

December 2016 UPDATE: Ed & Mary Ann have just retained our services again for their purchase of an investment property. Cheers to helping them add to their real estate portfolio in 2017!

Maybe we’re biased, but we really do believe that our Clients are the best. We don’t work with just anyone. The Agent – Buyer relationship is a commitment that both parties make in order to reach a goal. In the case of the Zalamea family, they had very specific criteria to consider and it was our duty to be sensitive to that. Here is what the Zalameas had to say about working with us:

“Anna May is a pleasure to work with, very accessible and positive, a veteran in the world of realty. She has a strong business sense and negotiation skills, her referrals are on the spot and a true professional with valuable experience to offer even the experienced home buyer. Anna May is critical in helping us achieve our goal. Despite being in the potentially challenging position of representing both the Seller and us as Buyers, her advice was always sound, unbiased and in our interests. She puts the needs, safety and wants of her clients first. We continually impressed by her responsiveness, helpful insights and impressive follow-through on questions we had and issues that arose throughout the process. We would not hesitate to recommend Anna May as well as Greg. We are so thankful to them.” -Edgar & Mary Ann

 

Ethnic Diversity in the World of Real Estate

CRS article June 2016As agents licensed by the State of California, we have to be very careful about how we present certain aspects of the various neighborhoods and ethnically diverse populations that we serve. Recently I was interviewed for “The Residential Specialist” magazine for my experience and expertise in ethnically diverse neighborhoods.

I feel blessed to live in an area so rich with culture, history (and culinary concoctions) that go along with the diversity.

What do you love about where YOU live?