RealBillSF

Rents are Soaring in San Francisco

2011-07-07T13:52:00.000-07:00

I'm seeing a shift in the San Francisco real estate market.

I keep tabs on rental prices by talking with rental agents; to stay informed for advising clients; for my own properties in the past and in early July I was preparing to lease a loft I own. Previously it was bringing in less than I was paying the bank so I needed to raise the rent substantially and I wasn't sure but really hoping it would go well.

To my pleasant surprise, I was swamped by potential renters, mostly from the social gaming industry!

While talking with so many potential renters, i met a very nice couple who weren't "ready to buy just yet". They were noticing that their monthly cash-flow would be better owning in Mission Bay, rather than paying the new, higher rents. Their 1 bedroom at the Avalon was being raised by $1000 per month! I talked with them about a few prospective properties and now, they're are happily in contract for a new home that I helped them to find.

To see their new home, click here for a video tour of it that I made.

So many new tech jobs are being created that I am meeting people moving into SoMa, South Beach, Mission Bay and Potrero Hill; not only from all over the U.S. but also Europe, the middle east, Asia and South America. This reminds me of the dot-com days when I moved to San Francisco in the 90's. Technology workers are landing in San Francisco for their new job, searching for rentals, yet unable to find what they could have just one or 2 months ago because rents are soaring. The Zynga IPO may have a lot to do with it yet while Zynga is not the only social game in town, it appears to me that their IPO is the catalyst for this sudden spike in demand.

---> I am predicting we are just beginning to see this market activity spill over from the rental into the resale market.

---> China and the European central bank raised their interest rates yesterday.

In a world where there is a constant flight to quality in capital markets, especially as we begin to see inflation, San Francisco Real Estate will continue to be a very solid investment and hedge against the erosion in value from inflation that might be starting to take place in Asia and elsewhere in the world. Interest rates here in the U.S. are at record lows but even if they begin to climb, i think we're just starting to see a flight to quality; to bay area real estate, especially where the jobs are.

I've been working in the San Francisco real estate market for 10 years but focusing very closely over the past few years and particularly in areas that i believe have a great up-side in the very near future. While I don't have a crystal ball, if you or your friends have an interest in talking with me, I'd love to get your referrals and meet you for coffee.

Bill

Your San Francisco Real Estate Consultant

415-756-5730

find me on Yelp!, Facebook, twitter, youtube: RealBillSF

Is your real estate agent "too nice"?

2011-05-13T11:21:00.000-07:00

A friend recently said to me, with a slightly cynical smile, Bill you are "too nice."

The implication is that a person who is "too nice" puts too much faith in others' good-will, allowing someone to easily take advantage.

I disagree. However, there is some truth in my friend's characterization.

Before I became became a real estate agent 10 years ago, I was a creative professional, which is an occupation that doesn't require dividing statements that people make between such simplistic categories as either "true" or "false." While I agree wholeheartedly with the idea that one needs to discern and to detect subtle differences between fact and fiction, sometimes shades of gray makes it important to suspend judgement. It's worst to assume that a statement that falls into the "false" category must be "a lie."

When we give people the benefit of the doubt, we serve our own interests more effectively than when we assume the worst.

You've got to "give" to "get"
This may mean assuming the best in people even when by appearance, they seem to be less than forthcoming. People in our culture suffer from their inability to trust — assuming that an adversarial process should always be applied in order to "WIN"— as if every transaction must be a zero-sum game. I think this is a misapplication of the sports metaphor confused as "real life."

Collaboration, for the WIN!
In fact, the most successful people win by being helpful; building trust; then through skilled cooperation, discovering ways to quickly uncover and satisfy needs of the interested parties' .

Quid Pro Quo
Far from abandoning your own needs, think of this process as aggressively seeking to meet your needs by quickly learning what the other side wants. We are best able to hear and learn by not getting so easily offended or overly skeptical but through hyper-awareness of priorities — especially as we learn how the interests of others can be mutually aligned to meet our own needs.

It is a kind of blindness to assume in the negotiating dance, that one can only "gain" when the other "loses."

It takes work to discover opportunities for mutual interests and this can be done most effectively in good faith collaboration with others. This is when working with a skilled negotiator such as myself can be so valuable.

So, for those who think it is naive to be "nice"; who confuse kindness as a weakness I say: "being nice is effective strategy". In fact, it's my weapon of choice ;-)

OH, what a nice condo!

2011-02-04T08:07:00.000-08:00

Recently I met new clients at one my weekend open houses. Like a lot of buyers these days, they were looking for foreclosures and short sales because they know it's a buyers market and really wanted to leverage their down payment to get the best deal.

Who doesn't want to get the best deal, right?

But the more they visited these kinds of properties, the more I got the impression that they wanted downtown-view, central location with turn-key-luxury-convenience.

In short, the price-per-square foot was great on some of the "deals" out there and compared great on the computer screen but they really wanted was something special that would get them excited about moving.

So we visited One Hawthorne and when we walked into this particular upper G plan, it was love at first sight. This building has the views and most central location in a dynamic, Manhattan-like area of downtown San Francisco.

“G” is the North East corner with downtown views and views East including the bay bridge.

Here are a couple of photos I shot with my cell phone...I always offer to visit the places in person with me because it's really the best way for us to compare in order to understand the details.

Across Hawthorne street is Benu, recently featured in the New York Times article as one of 10 restaurants worth a plane ride, only 3 of them in the US and it was the only one mentioned in San Francisco.

The husband walks a couple blocks to Bart and the wife has easy access south so it is perfect for both their commutes to work. The views are really exceptional and the moment they walk out onto the street; starting in on the very same block where they live: the downtown will be their new playground.

The Secret of the Magic Price Tag

2011-01-20T10:31:00.000-08:00

Recently I was invited to give a broker pricing opinion along with several other local specialists for a new listing that isn't yet on the market. It is a beautiful apartment with panoramic views of downtown San Francisco and everyone was speculating on what should be the listed/sale price.

Did you notice: I just equated the listed price with sale price!

Even experienced brokers make this ASSUMPTION.

And this is how a Magic Price Tag works:

Buyer assumption: "Lower price tag is how I find the best value."

Seller assumption: "Higher price tag is how I get a higher price."

Yet, strategically, the truth is to the contrary: this is the secret!

Listed prices are FICTION:
The #1 purpose of Listed Prices: to attract the most attention; get the most market exposure, resulting in the best offer.

My advice: come to your own objective understanding of value by visiting & reviewing properties with your agent to get the informed advantage. Don't be afraid to disagree but hash-out all the reason.

Those who understand, benefit, while those who don't pay the price.

Here's how it works:

Buyers WANT to believe that if they just find the lowest priced property, they'll get the best "deal." Then they see other interested buyers which only feeds their conviction that they found that hidden gem they've been seeking.

Sellers, WANT to believe they can just find a broker who agrees to list higher, they'll get a higher price. Often people only hire agents because the agent tells them what they want to hear.

But the best agents are not merely people pleasers; they are able to articulate the best strategy; to demonstrate why the best offers most often come from the lowest pricing.

Here is the secret of the Magic Price Tag: Our brains have evolved to pay the most attention to choices based on comparison even though we often compare the wrong number! (Listed vs. Sold)

You don't need to understand evolutionary psychology, just meet with me and I'll show you how to arrive at your own reasonable estimates based on recently sold market data and regardless of what the price tag says. Bring an open mind because we all have a built-in bias, based on what we want to see, rather than the ever evolving and sometimes tricky market for San Francisco Real Estate.

2011 Cash buyers: Looking to buy below-market?

2011-01-05T13:11:00.000-08:00

In 2011, cash buyers looking for below-market pricing in San Francisco will continue searching foreclosed properties and short sales but they might also consider looking more closely at properties in litigation.

What does it mean when a San Francisco property is in litigation? Litigation can mean a lot of things so buyers often shy away when they hear “Litigation.” Often, it’s an SB800 filing or California’s landmark “fix-it” law and they pass by a great prospect simply because they don’t understand what it means. However, if they ask the right questions, this can be a great way to leverage their cash advantage, in order to find just the right property at below-market pricing.

Let me help you with your homework:
Do an independent internet search on the term “SB800 Process for buildings in San Francisco.” As you do this, you’ll find this process is akin to making a claim on a 10-year Warranty: A common process used make claims requiring the developer to fix or pay for warranty related issues. Remember in this case litigation doesn’t mean anyone is suing the HOA (Home Owners Association), rather, HOA has filed an SB800 claim against the developer. And it means fewer buyers have the down-payment requirements needed for financing the purchase.

5 Key questions about litigation:
1. Are there any planned special assessments? This can be found in the condo cert. (who’s paying for the legal action)
2. How is the Law Firm being paid? (contingency basis or by special assessments?)
3. Are construction issues specifically affecting to the unit for sale?
4. What is the estimated time-frame before a resolution of the claim?
5. Has any lender looked at the litigation in detail and approved financing? (for qualified buyers)

In California, especially San Francisco, it is very common for new buildings to go through this process before the 10 year statute of limitations as a way of utilizing the law, as a warranty, to have construction issues fixed or paid for by the developer. It doesn’t mean that the building is any less desirable than others, however, it affects financing until a settlement is resolved. For sellers, it places a big question-mark on the building unless buyers agents are familiar with the SB800 process and able to help their clients confidently understand the situation so that they are able to make fully-informed decisions.

Here are a 10 buildings in my neighborhood, (just off the top of my head), that have gone through this process

* 301 Bryant
* 650 2nd Street
* 246 2nd Street (my listing here sold for all cash last year)
* Clocktower 461 2nd street (I owned a loft there during the process)
* 950 Harrison (I purchased when in litigation and sold 2 years later after settlement)
* Oriental Warehouse
* 200 Brannan (my clients purchased last year, at below-market pricing, just before the settlement)
* The Beacon
* The Metropolitan: 355 1st street
* Park Terrace: 325 Berry (Where I live now)

How to Find Out More:
As an agent with first hand experience in real estate issues such as this one, I know the key questions to provide as a way to help clients become informed to their own advantage. At the same time, I always point to public records and encourage everyone to challenge and verify the information I have provided which can be found from public sources.

Bill Williams, Agent/blogger of RealBillSF.com moves to the Climb Real Estate Group

2010-12-10T15:09:00.000-08:00

I am very excited to report my recent move to Climb Real Estate Group (ClimbSF.com)

Collaborative Agents working as a real networked team:
- These people are fired up! Thanks to the founders: Mark Choey, Chris Lim and Tiffany Combs, Climb has an environment where the exchange of ideas is encouraged; an awareness of all office listings and word-of-mouth inter-connectedness about hot listings and early opportunities in our area that better helps me to serve my clients.

Hyper-Local Focus:
- ClimbSF has a hyper-local presence in District 9 of San Francisco.

- My goal is to present information from a inside perspective in the buildings where I live and have lived. At Climb I am the designated building specialist where I live: Park Terrace. Also other buildings where I have lived. Everyone's clients benefit from the perspective of someone who has spent years living a building. If I want the latest scoop on other buildings, even if I've sold or been in them dozens of times, I know who to call when I'm looking for the latest relevant information such as another unit that might become available soon. It's all about cooperation and the sharing of the most relevant information.

Excellent Visual Brand Recognition:
- I know from my own design experience how tricky it is to develop a visual identity as effective as the Climb Real Estate Group has done. Seller benefits are obvious, but it also benefits buyers looking for a brand that they recognize in a crowded market place. The visual identity of Climb Real Estate group is minimal yet effectively memorable; understated to convey simple, modern quality.

Emphasis on Green, paperless transactions:
- Yes, I am a technology freak but I wouldn't push it unless clients wanted the convenience it gives them. And our transaction coordinators Climb are well versed in zipforms, Docusign and other technology that I love and that our wired clients have come to expect. The office was designed with recycled materials which also strikes me why Climb is a forward thinking, very progressive company.

Convenience: Putting Clients First
- For the reasons stated above, what mostly strikes me is how everything is driven by the client experience at Climb.

- The holiday party we just had was in an amazingly fun club but best of all, it was all about thanking clients for their business rather than just being all about an award ceremony for top-producing agents.

- Best location: Not only is the office cool but i don't know anywhere in San Francisco that is a better location; near the design center in Potrero; the intersection of SoMa, Mission Bay, South Beach close to downtown and with easy street parking. Clients find they can easily come to my new office; park and also walk an interesting neighborhood with interesting places to meet for lunch or coffee.

A couple of pictures of Climb Realty Group's uber-cool new office:

In short, the Climb Real Estate Group is moving up: in a direction that I have known for some time as the industry direction and the direction I needed to go in order to best position myself to better serve my clients now and in the future. Onwards and upwards!

Craigslist: Goldilocks seeks SFRealtor

2010-12-02T09:59:00.000-08:00

Once upon a time, Goldilocks tried to find the right Realtor to help her find her new home in San Francisco. So she started asking around and placed an ad on Craigslist. This is what she found:

Realtors from the East coast are too Harsh: New Yorkers seem to disagree just for the sport of it. Candor is appreciated, but to Goldilocks, they come off as impatient and rude.

Realtors from the West coast are too Mellow: They mirror a pleasing reflection of whatever "vibe" that they get from people. Goldilocks needs more push-back.

Realtors from the Midwest are just right: RealBillSF just returned from visiting family for Thanksgiving in Michigan and was reminded again how real and opinionated those from "flyover country" can be, yet how they're like an open book—They say what's on their mind yet it's perfectly acceptable to agree to disagree.

As I ponder the nuances of cultural variation across the country, as a San Franciscan raised in the Midwest, I've come to appreciate both the candor of New Yorkers as well as the non-judgmental, tolerant attitude that you find on the West coast.

As a Realtor, I strive to have this kind of opinionated transparency, to the point of listing my rationale for the conclusions I draw. I recognize that I often generalize wildly, as I have in this blog yet it serves the purpose of bringing Goldilocks' attention to the real factors to be considered as part of her need to employ critical thinking and informed decision making, such as:

• price range
• location
• square footage
• light
• access to outside
• future appreciation
• walkability
• property condition

and so on...

Weighing the factors that meet her needs can only be determined by Goldilocks...While my Midwestern sensibilities and statements can be redundant and make sweeping generalization that don't always fit in her circumstances—she likes the suggestions; to be gently challenged, questioned and reminded of her own goals.

The happy ending: Goldilocks found RealBillSF is just the right Realtor in San Francisco to help her find her new home.

A Giant Real Estate PR Opportunity?

2010-11-08T15:01:00.000-08:00

Recently a blog reader texted me a question:

"Dear RealBillSF, since your listing is so close to the World Champion Giants stadium, otherwise known as AT&T park, shouldn't you somehow write about that in order to get some free publicity?"

"What kind of attention-craving-opportunist do you think I am?", I asked. "And why would anyone want to read an infomercial for my 2bed 2.5bath Townhouse, that's like new and located at 325 Berry #103?

"First of all", they said, "What kind of real estate agent is not an opportunist?" "Just make it somewhat amusing, like your other blog posts and also mention that it's only 3 years old, in nearly perfect condition."

"That's true", I said. "But how in the heck am I going to link The World Champion San Francisco Giants, thematically I mean, to my real estate listing. Just because it is so conveniently located, within a 5 minute walk to the ballpark of the world famous Giants, I am not sure they will get the connection."

"I know you'll think of something", she said. "And don't forget to post some of those great photos you took of the neighborhood."

"hmm, How I can say this in such a way that doesn't sound crassly commercial or just plain-old cheezy?" "In any case, I suppose it can't hurt to give it a try", I said.

RealBillSF's choice: Park Terrace in San Francisco

2010-10-08T14:53:00.000-07:00

Although I've sold properties throughout the Bay Area, over the last several years I've concentrated my sales activities on new construction projects in San Francisco.

Frequently, I tour with clients and especially whenever a new building is first released such as: 88 Townsend; the Infinity; the Radiance; Espirit Park; the Arterra; the Hayes; the Watermark; 235 Berry; the Millennium; One Rincon Hill; Blu; One Hawthorne and others. We tour everything repeatedly, shop and compare.

Then one day a I took clients through Park Terrace and there, picked out my own new home, where I have lived for the last few years.

I love the convenience of new buildings; living in emerging neighborhoods as a sort of urban pioneer; places where massive public and private infrastructure spending reshape entire swathes of the city.

I love to witness the transformation.

My building, Park Terrace, encapsulates the best of everything I like about the area: you can walk to the grocery store; the site of 3 new hospitals on the emerging UCSF campus; AT&T Park and downtown San Francisco, everywhere on foot, through brand new waterfront parks. It's only a 15 minute drive to the Airport and possible to get on 280 immediately out the door; an easy commute south, yet so close to downtown and the mission.

The Mission district is the flip side of the the clean new construction environment. Let's call it the underbelly, of the spartan atmosphere in which I live. The sidewalks are dirty but the food is good and cheap restaurants are plentiful. People from every walk of life are there and in the evenings, they spill out onto the neon flooded sidewalks. I love to walk there and watch people: families shopping in Mexican bakeries; the mariachi bands wandering with their instruments; food that's cooked and sold directly from sidewalk mobile stands or taco trucks; people from all-over-the-world carrying home their fresh fish and vegetables in pink plastic bags. You've gotta love the vibe, as we say here in California.

Can you tell that I love everything about food and cooking? If you do too, the Mission is a fun place that you have to visit!

When I lived there for a few years and I found it to be a bit too chaotic: with chickens raised by the famil(ies) next door on one side of my house and the lady who raised pigeons in her apartment on the other.. That's another story that I'll have to write about some other time.

I like the balance that I find in the intersection of being downtown, with it's bustling urban chic; AT&T Ballpark; the waterfront with screaming seagulls and the hipster cutting edgy Mission with it's experimental restaurants interesting diversity.

Where else can you enjoy this sort of contrasting existence but in San Francisco, California?

Here are some more pictures, see if you notice what I'm talking about:

Kung Fu Tacos. MMMMMmmm!

More pictures of mission bay: my photos of Mission Bay/south beach

Confessions of a San Francisco Realtor

2010-09-22T13:52:00.000-07:00

When I became a San Francisco Realtor, around 2000, the real estate market was very different. For the prior years, many people, like me, migrated to San Francisco during the "dot-com" years in the 1990's and witnessed years of soaring values.

Back then, being a "dot-comer" wasn't something to which you'd admit, because we were seen by many San Franciscans as techie carpetbaggers. Perhaps they blamed us for the soaring real estate values and increasing urban congestion.

Then there was the dot-com explosion, when the internet economy collapsed. Lofts, the property of choice for many of us techie dot-comers, fell out of demand. Looking back now, this was the best time to buy because their values rapidly recovered in the following years. (San Francisco has limited space and scarcity is a basic economic principle.)

What I think about now is how much my early clients prospered. It seems like no matter what they bought, clients in those years made a lot of money from their real estate dealings and I could do no wrong. They all seemed to see a huge increase in equity, so confidence in my own abilities grew and grew. I began to believe that "profit" was a sure thing.

Humbly, I now consider clients who purchased between 2006-2008. Even though I'd always cautioned clients to expect 3 to 5 years to break even, there were inevitable life changes for a number of people who had to sell sooner.

And these clients lost a lot of equity they had invested. Sometimes people cannot foresee changes they might have to make, and as for me, I've become much more humble, recognizing not only what can happen on the upside, but also what happens in the worst-case scenarios. It can be devastating.
I've learned the market is what it is. All I can do is provide people with the best tools and information available, and confess, "I don't have a crystal ball."

Image courtesy of brooksbos

Bidding Wars in San Francisco

2010-06-29T12:46:00.000-07:00

I had a client say to me recently "We don't want to be involved in any bidding wars."

I understood. We've all heard the stories about bidding wars. At the height of the real estate "bubble," buyers who overbid on homes have since seen values fall. Why would anyone enter a bidding war as a result, particularly in today's market?

With all that being said, the practice of multiple offers, even if it is no longer the norm, still happens every week in San Francisco. The reason? The difference between winners and losers of war come down to strategy. Bidding wars, even in a depressed market, unleash the power of underpricing.

The most important part of any strategy: that it's truly your own. Underpricing a property to elicit a high number of competitive bids -- and deliver a higher sales price -- still works for many property types and neighborhoods. But since sellers have their own strategies and objectives, and you and your agent have your own, you shouldn't be rushed or pressured into any approach if it makes you uncomfortable.

The element of surprise is essential to victory. When you prepare ahead of time with your agent, s/he can help ensure that you will be the first to be aware of opportunities and keep your supply lines established. They do this with:

Prepared financing
Identified and prioritized their property needs
Understood comparable property values

This provides you with focus to act in the face of distraction, and a stable foundation to know whether you should or should not compete for a property. As a result of being prepared you can recognize and seize an opportunity quickly while others are still grappling with uncertainty.

Mostly, your agent should be willing to listen to you, remind you of your needs that you've identified, and know the terrain of comparable values and strategies common in the San Francisco real estate market. They can prepare you to fight a more intelligent battle, to save you both your resources and your time.

After all, the objective is to find a home that fits your needs so that you can move-on to your next mission: enjoying your new home in San Francisco.

Photos from Mission Bay, San Francisco

2010-06-20T13:10:00.000-07:00

I love to kill two birds with one stone! And so on some mornings I go for a jog in Mission Bay and take pictures along the way with my iPhone. I thought I'd share some of the sights with you.

This one was taken by the 3rd street bridge, looking south toward the Carnival.

When people ask where I live, I always tell them that I live across from the houseboats. It provides an instant visual context for the exact location.

Mostly people seem to only remember the old driving range that used to be in the area... among the old warehouses, broken streets and rubble of another era.

These days, people are discovering the new kayak launch and I see them out there amongst seals, manta rays and a surprising diversity of other sea-dwelling creatures.

I'm pleased what San Francisco and the Mission Bay Association are doing to continually improve the quality of life for my neighbors. Especially interesting is how they are making new parks everywhere, including under freeways!

Beach Volleyball Court under i280!

Tennis Anyone?

There are new basketball, volleyball, and tennis courts, along with the highly entertaining off-leash dog run. It's a great place to meet other neighborhood residents.

As I enjoy the beautiful weather that we get in San Francisco's Mission Bay, I try to run on a different routes to mix it up and keep it interesting.

I am so fortunate and thankful to live close to nature while also being so close to to the urban center of downtown San Francisco!

Park Terrace is on the left and Arterra; the taller building, on the right.

Eventually my little run takes me through the new UCSF Mission Bay campus where I love to see the future springing up right in front of me, including thousands of new trees and beautiful landscaping and art. Here's a beautiful new sculpture.

They're planting thousands of new trees, which I find so inspiring to run past first thing in the morning on such a beautiful day.

Since it's so new I don't think most San Franciscans realize how great it is until they make their way through the campus and explore the area on foot.

After my run, I head home and get ready for work. Which brings me to another great reason why I live here: I'm only a 10 minute walk to my office!

Stay tuned for more photos!

Let's Make A Deal San Francisco

2010-06-17T15:27:00.000-07:00

Do you remember this TV game show called "Let's Make A Deal?" Monty Hall, the host of the show, always asks the contestant the following question: "Will you choose what is behind door number 1 or door number 2?"

Nobody wants to get the goat.

It reminds me of what buyers and sellers face regarding the timing of their offers. Specifically, the strategy for writing offers when either buying or selling a home. They have to make a choice between two unknowns.

Like Lets Make A Deal, there's potential for either pleasure or pain behind each door. As your Realtor, (call me Monty), it's always your choice. I've watched this game play out in this market and here is my perspective

Sellers: "Act now or wait?"
(door number 1)Accept the offer in hand, or (door number 2), increased exposure and potential buyers through more showings, hoping to receive a better offer?

Accepting an offer before your first open house might mean losing potential buyers with stronger offers (if you're priced strategically). On the other hand, an early offer can be the best offer if it provides peace of mind and turns a potentially stressful time into an exciting transition.

Buyers, "Act now or wait?
(door number 1) aggressively view properties with the goal of writing an early offer before anyone else, or, (door number 2) wait and only look at properties after they've sat on the market, hoping to get a better deal (if the property is still available).

Importance of a good working relationship with your Realtor
When you have a good working relationship with you agent, your agent will bring you these opportunities along with demonstrable data and information to help you make fully informed, timely decisions. You can confidently choose "door number 1" once you've clearly defined what you value and what is within the realm of possibilities; when you see the prices of similar recent sales. If you believe an offer is too high or low, you can wait in hopes market conditions improve in your favor but this cannot always be proven. Sometimes the advantage of decisive action can only be understood in retrospect after being unable to reach a decision and stick with your own conclusions.

Timing as Your Advantage
Timing creates opportunities for buyers and sellers alike. To do this, there are expectations to understand, the right questions to ask and advantages that go to those who not only have access to the most information but to those who can uncover your real needs and get an early sense what is the most relevant information to know in each situation.

Real choices
With Real Estate choices, unlike the game show, reason determines the best outcome rather than luck, so take the time to evaluate the alternate scenarios with your agent who can help provide you with prospective next time you're asked the Monty Hall question: "Will you choose what's behind door number one, or door number 2?"

The Art of Real Estate Consulting

2010-04-22T12:03:00.001-07:00

Art and Real Estate Consulting

What art lover wouldn’t be inspired by the beauty of the San Francisco Bay Area?

I was a fine arts major, and it certainly inspired me. I became a graphic designer, and later an interaction designer for new media. This is what brought me to San Francisco during the “dot com” era, and one of the reasons why I bought my first live/work loft at the ClockTower in 1996. It’s surprising how many people living in San Francisco have similar stories.
After 2000 I got my real estate license, and now that I’ve been in the business about 10 years, I can see how the skills I learned in art training relate to my work in real estate. (I’ll use this as an excuse to share some of my recent pieces with you!)

I believe in being open and transparent in my communication with clients. I see this as another dimension of creating art: first understanding their point of view and working toward a common vision as a sort of mutual artistic collaboration.

I’ve learned to keep listening for my clients’ vision even as I show them properties that might stretch their imagination. By getting their continual feedback and incorporating their response into my actions, I’m able to fine-tune my understanding of their most important real estate priorities.

This challenge of keeping focused can be humbling. Someone said, “I’ve never met a person who I couldn’t learn from,” and I find this to be true each time I work with a new client, agent, or anyone. This practice sharpens my perceptions, and after all these years, has made the pleasure of painting even more enjoyable.
If you love art like I do, there are plenty of chances see local artists (when you’re not touring the newest open homes). Here’s one this weekend:
Spring Open Studio: Come visit over 140 Artists!
Opening Reception Fri April 23rd :: 7-11pm
Open Studios Sat 24th & Sun 25th :: 12-5pm
3 Locations:
2425 17th Street @ Potrero
744 Alabama St @ 19th
2345 Harrison St @ 19th

Real Estate Lesson & the Wisdom of Crowds

2010-02-25T13:47:00.000-08:00

I’ve noticed a curious link between imagination and emotion.
Both have their place in our lives, especially those of us living in San Francisco who like to think of ourselves as creative. But the down-side of imagination and emotion is the harm they can do when we try to make a sound decision, especially when it comes to buying and selling real estate.
For example, people get caught up in the heat of the market, which is emotional, and they assume that that hot market will carry on forever, which is imaginative. The same thing goes when the market is in a downswing, as it is now. They forget about the fact that markets are cyclical, especially here in the Bay Area.
When people are overly reliant on imagination and emotion, it’s easy to become stuck and stressed out, wrestling with dilemmas that are removed from reality. Eventually it’s easier to pass these decisions off to someone else, ending up with "take my word for it" advice from a well-meaning friend or real estate agent.
But let’s face it: when you have a decision to make, such as buying or selling a home, you’re responsible for your choices because in the end, you’re the one who has to live with them. That’s why, especially in stressful situations, it behooves you to collaborate with a consultant, gathering information and objectively evaluating the factors that support the making of an informed decision.
A recent book comes to mind on this topic: The Wisdom of Crowds. It suggests that, under certain circumstances, the best results come from asking the opinion of as many different people as possible.

While I wouldn’t go so far as to make decisions by asking everyone, I do think that it’s always a good thing to have a second pair of eyes from a seasoned professional. You get informed feedback, reminding you of your goals. And watching your back.
Having choices is one of our greatest gifts in life. And when choices are really tough, I’ve found that knowing I’ve done whatever it takes to make the best decisions, even when things don’t go my way, provides peace of mind and makes all the difference in the world.