Monthly Archives: July 2017

Help Your Realtor Keep It Real

Things get personal with residential real estate. They get intimate. No wonder, since “home” is where you live, eat, sleep and do all the other things that humans do.

This is why good agents become their clients’ familiar friends. A close relationship – if client and agent are lucky – inevitably develops. It’s one of the most rewarding aspects of my practice.

Yet there’s a downside. In interacting with people we love, it’s a challenge to remain honest. We align ourselves with our friends’ wishes and dreams, and pretty soon objectivity and candor go flying out the nano windows.

Example: Betty and Bob’s condo has it all. A panoramic bay view, 3 bedrooms, 2.5 baths, 2-car parking, a remodeled kitchen and a private deck. 75 prospective buyers have visited the house over three weeks of marketing. Nobody has made an offer.

Betty is now reviewing all marketing materials. She asks their agent, Joan, to change the order of the photos on the website. She suggests that Joan should highlight the fact that there’s a garbage chute in the hall: “We have just LOVED having that trash chute,” she says, in all sincerity, “I don’t think people appreciate how convenient it is not to have to walk the garbage downstairs.”

Okay. The truth is that spotlighting the garbage chute’s presence won’t make one iota of a difference, and the photo sequence on the website is inconsequential. 75 buyers were drawn to see the property. The problem is simple: The price is too high.

But Joan, who has guided Betty and Bob through property preparation and staging over the course of several months, has begun to see the house through Betty’s and Bob’s lenses. As her clients’ perception of the value of the condo has risen – in proportion to the amount of effort and thought expended on readying it for sale – so has Joan’s opinion of value.

Joan belatedly realizes they’ve set the price too high by $100,000. Yet she hesitates to share this sobering truth. She doesn’t want to upset Betty and Bob because she cares about them, and she knows this will upset them.

Smart clients can help their agents avoid this trap by explicitly inviting the truth they don’t want to hear.

It’s sort of like parenting. You ask your teenager to be honest about how that bag of weed ended up in the glove box of the Prius. You promise him or her that – as long as he or she is truthful – you won’t get upset. Once the air is cleared, next steps can be calmly and coolly identified.

So, prudent buyer, be sure to ask for blunt answers to questions like these:

  • Is it wishful thinking to hold out for 3 bedrooms at this price in this neighborhood?
  • What offering price would make you feel 98% confident about our chances of winning?
  • Are there terms in this offer we should eliminate in order to be more competitive?
  • Is my lender up to the challenge of this market?
  • How have other buyers solved this issue/overcome this difficulty?
  • Am I sabotaging myself in any way?

Savvy sellers, request frank responses to questions like these:

  •  Do we need to follow the stager’s recommendation that we remove the carpet and refinish the hardwood underneath the entry stairs?
  • Is this listing price one that will evoke a “run-don’t-walk” response from buyers?
  • Are there enhancements we’ve refused to consider that you think would bring us a great return on investment?
  • What are our blindspots where our home is concerned?
  • If you could wave a magic wand and change one thing about our approach to selling the house, what would it be?
  • For which selling-related tasks (purging, organizing, painting, etc.) should we get professional help rather than trying to DIY?

Buying or selling a home is a process that unfolds differently in every situation. But the relationship between agent and client is the key to every successful transaction.

Show your agent that you, too, are invested in the relationship. Let them know you’ll love ‘em even if the truth hurts. Then, listen carefully and keep an open mind.

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com.

Real Estate Poetry: Shall I Compare Thee To A Beehive?

A regular participant in my writing workshops recently introduced me to the “Country House Poem.” Something I knew nothing about!

According to Wikipedia, it’s a poem in which “the author compliments a wealthy patron or a friend through a description of his country house.” Popular in early 17th century England, there are numerous examples of them.

Here’s an excerpt from a 1568 poem by Geoffrey Whitney that compares Combermere Abbey to a beehive:

There, fertile fields, there, meadows large extend;

There, store of grain with water and with wood.

And in this place, your golden time you spend,

Unto your praise, and to your country’s good

This is the hive, your tenants are the bees –

And in the same, have places by degrees.

Perhaps I should bring back the Country House Poem – or a variation of it. I could write a tome for each of my clients after close of escrow. Or I could write silly real estate poetry for my own entertainment, with verses like these:

For the (relatively) inexpensive tenant-occupied, fixer 2-units in SOMA that sold on an alley block around the corner from a popular rave venue:

Though urine soaked with walls grafitti’d

And rents so low one can’t be greedy

This home in progress path is planted

N’er take low-cost square feet for granted!

Or for the $2,250,000 2-bedroom 1500 sq. ft. top-floor condo overlooking Dolores Park:

Where else can you spend fifteen hundred a foot

With roof rights on which a nice deck could be put

For watching the revelers in Dolores Park

And hearing them long, long, long after it’s dark?

And don’t forget the Outer Parkside surf shack that broke the one-million-dollar ceiling on a 40-something avenue:

Tsunami, liquefaction and dam inundation

Might give you a moment of slight hesitation

But Ocean Beach beckons to you and your dog

Especially on rare days without any fog

Clearly, I have some serious work to do if I’m going to revive this art form!

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com.This article was re-posted at McGuire.com.