"Finding the perfect deal"
Condo in SOMA/FiDi Searching for a "deal" is a proactive process. Extensive market knowledge, contacts, and strong negotiation skills are key to success. My client had just started to search for a new place when I saw a REO listing in the MLS with incorrect marketing information. It was a condo in SOMA. The listing agent had incorrectly imputed two key data metrics: HOA dues were listed at $800 and number of parking spots showed "0". With two bedroom condos in this location, buyers are expecting a parking space and at $800/month HOA dues they also want a full service building (on-site gym, concierge, etc). They filter their search criteria accordingly so it may not have come up in their searches. I know the market in this area very well and have see units in almost every building. This is a nice building, albeit not full service but in return the HOA dues are in the $500/month range and all two bedroom condos in this building had parking. We moved quickly since REO homes usually sell fast in San Francisco. She loved the unit and there was a HUGE deck attached... rare for this area in a building this size. This was a unique feature that added value for this home. We submitting an offer right away under list price. They tried to counter us but I sent a detailed market analysis to them outlining why my client's offer was perfectly acceptable. They gave us verbal acceptance pending the ratified written contract. With REO homes there is always a chance that other offers will come in while you wait for the bank's bureaucracy to sign all the paperwork. The listing agent finally fixed her marketing error and an offer did come in at full asking price, but the bank decided to stay with my client's offer. The next phase of closing the sale involved constant contact with the asset manager and out of area title company. When there was a delay we requested they pay for the rate buy down for the loan (30-day lock had expired) and most of the closing costs. We closed the sale and she got a good price on her perfect condo. |
"Go above and beyond"
Single Family in Eureka Heights I have helped several clients successfully sell family trust properties. There are a multitude of parties involved... trust beneficiaries, attorneys, CPAs, trustees. I'm always sensitive to family dynamics and the unique parameters surrounding a family trust sale. The goal is still simple... a successful and smooth sale meeting the needs of all parties involved. The listing was for their parent's home, the place were they were raised as children. The property had deferred maintenance and there were differing opinions on the best coarse of action. I took a proactive stance to every issue that arose. I personally spent countless hours on property preparation. Over the course of two months I coordinated (including scheduling and present on-site) tradesman for the hardwood floors, compliance with water and energy ordinance, inspectors, house cleaners, and painters. I was on the phone or on email almost daily with the trustee and beneficiaries. When an emergency arose, I made calls immediately to fix it. When the first buyers in escrow tried to renegotiate the price terms of their sale, I advised to firmly hold to the contract price even if that meant cancelling the escrow. The final price was above their expectations. From implementing a full marketing plan, extensive showings, and negotiating a deal that was over their list price, I was there every step of the way to do whatever it takes for a successful sale. |
"Find the home you love"
Condo in the Marina In a competitive market, it's easy to just settle for average. But is that good enough? The perfect property exists for almost everyone given the buyer is qualified to purchase. I've told clients, "looking for property is like dating". It's quite a subjective and potentially time consuming process but when you walk into the property where you're meant to live there's a mixture of enthusiasm, relief, and comfort. You just know it's a perfect match. One of my buyers had been looking for almost a year. They had placed offers on a few condos that they really liked, but it was a competitive market and they lost on the overbid. Every time a new listing came on the market I emailed them immediately, got the private appointment (even before the allowed showings). I picked them up from work and we were the first to see it. There were even two new construction projects that were closed to the public and buyer showings but I managed to talk the developers into setting up private appointments. However, they were starting to get exhausted and just "settle" for whatever fit their quantitative criteria: 2 bedrooms, good location, 1-car parking. I did not want them to settle until they found a place they loved. I was on the constant hunt for their perfect condo... it was my mission. Throughout the process I made daily phone calls, emails, constant communication, always accessible. Well, the perfect condo came up in a new construction building on the north side of town. The units had luxury finishes, detailed architectural functionality, boutique, classic European design... it was a beautiful building. No cookie cutter units, each had a unique interior. Clients were ecstatic when they first walked into the building and saw the units. The first public open house was a "zoo" but I was determined to make sure my clients got their condo. We came up with a strategy regarding pricing and which units to bid on. I kept in constant contact with the developers and would stop by their office even just to say hello. Relationships and rapport within the San Francisco real estate community is extremely important. I wrote a wonderful letter about my clients. We had 2 offers ready based on the scenarios. I advised to go with the lower offer based on my market knowledge. They got their unit at an acceptable price (price per sqft was under other 2 bedrooms). They love their condo. |
For informational purposes only. Each client's circumstances are unique and results will vary. Client and property information are not included due to privacy.