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.

 

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)

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?

California suburbs growing fast as many are priced out of cities, data show

Source: Los Angeles Times, May 2, 2016

Suburban areas on the outskirts of the red-hot Los Angeles and San Francisco areas grew especially fast last year, state officials reported Monday.

San Joaquin County, home to Stockton, grew faster than any other, up 1.3% to 733,000 people. The area has become increasingly popular for people fleeing astronomical San Francisco Bay Area housing prices while remaining within commuting distance.

San Joaquin was followed by Yolo, Riverside and Santa Clara counties.

The fastest-growing city was Vernon, which grew a whopping 72% thanks to a new housing development that brought its population to 210.

Among cities with at least 30,000 people, the fastest-growing were concentrated primarily in the Inland Empire and Orange County: Porterville, Eastvale, Lake Forest, Beaumont and Lake Elsinore.

The number of new housing units in California declined last year for the first time since the start of the economic recovery, due mostly to wildfires that scorched more than 2,000 homes.

California’s housing supply rose by 67,110 units last year, compared with an increase of 69,435 units in 2014. Demographers at the California Department of Finance say the number of new units would have been about equal to the year before if the destructive wildfires in Lake and Calaveras counties had not hit.

Of the new units created, just over half were multi-family dwellings such as apartments and condominiums. Los Angeles, the state’s largest city, saw the most growth in housing, with 12,224 new units. It was followed by San Francisco with nearly 2,900, San Jose with just over 2,000 and San Diego with about 1,750.

The housing hit came as California’s population grew to 39.1 million last year, an increase of 348,000 people, just under 1%.

Most of the state’s 482 cities saw population gains, but 44 cities shrank and one — tiny Tehama, population 431 — was unchanged.

Fleeing the Cities to the Suburbs

rachel and anna
Me with Rachel, one of our recent Exclusive Buyer Clients

Fleeing to the ‘burbs isn’t just for the Gen X-ers. Forward-thinking millennials are doing the same thing.

Yes, the “Selfie Generation” may be known as slackers, but not all of them are. See here Ms. Rachel, a 20-something attorney who moved from the expensive peninsula to the East Bay. Rachel and her fiance bought a home right down the street from me, in fact. We’ve become drinking buddies, semi-workout buddies, and both of our SOs are Mariners and Seahawks fans.

Back to the topic at hand. Here is what Rachel said about her reasons for moving:

“Moving from the peninsula to the East Bay (Hayward) was a great decision. We have shifted from unnecessarily expensive to reasonably affordable; From bland and cookie cutter to diverse and cultural; From a bubble about to burst to the next wave of growth and exciting potential.”

Side Note: Women are starting to rule the world. Our Significant Others are watching the Mariners game on TV right now…or something equally juvenile. Sorry guys, she’s taken.

 

 

Meet Phil! Does he look pouty?

Here’s “Phil”! This 12-year old sweetheart’s mom is selling their long-time home at 2828 Eastman Avenue in Oakland‘s Allendale district.

Phil
Phil, 12, is not included

When the sale closes, Realty World Neighbors will make a donation in Phil’s honor to Bad Rap, where he was trained when he was a youngster…

A home is not a home without a dog!

 

The Calm Before the Storm

photo of paintersA lot of prep work goes into preparing a home for sale. This home has been in the same family since 1977. Many memories have spun their stories over the years of growing up and raising a family here. It is now time for new memories and we’re working on making sure the home is clean and comfortable for the new owners.

Shown here are Todd Worsfold and his crew member preparing the home for sale.

Stay tuned for more details! May 2016 is when this home will be available. You’ll LOVE the new colors chosen, I’m sure!

Receiving Thanks

IMG_2575[1]We have the best Seller Clients ever! This lovely plant was brought in by our Seller Client Arutha as she was on her way out of town and off to her new life in Las Vegas.

We were able to entice her to let us take her to coffee at Hippies Brew first before she left town. Hippies Brew has Jimi Hendrix painted on the wall. Arutha is a DJ who appreciates good music, so we thought it was a good fit to share a farewell brew.

Sometimes we meet people who retain our services to do a job for them, and if they weren’t leaving town, we’d love to cultivate a friendship with them. Arutha is one such lady with a wonderful sense of humor.

If you need a DJ in Las Vegas, we’ll connect you with her!