THE SECOND STORY | April 26th, 2018

Off-market listings….and keys.

Salome Idea Mixed Set of 30 Large Skeleton Keys in Antique Silver - Set of 30 Keys (Silver Color)

How many house keys do you need?

How many locks do you have? These days the locksmiths find themselves losing biz to Nest and other companies with remotely (phone) controlled locking devices.

I recently had a listing with 17 keys, all different for different locks. And they were NOT labeled. Oh well, we got a locksmith in and turned the 17 keys into a single key for all of  the doors.

In our ancient house, over the years, we’ve found several antique keys. And one day I found myself locked inside my bathroom. Even though I was hollering to son Evan through the heater vent, he was fast asleep.

Because this old house has had various fixes/modifications to it, you needed to pull the door towards you to step into the bathroom. Not normal. One of our tenants heard me hollering through the ductwork, so I had her call our landline (no cell phones back then)..to wake Sleeping Beauty up. Somehow he got me outta there. But these days I have that key hanging on the inside of the bathroom door, so should I get stuck again, I’ll have a way out.

Off-market listings. 

This is the elephant in the room.

When I’m working with (a) Seller(s) on pricing a property, there is only 1 party who has a say in what the purchase price should be. That’s the Buyer(s), regardless of what that property is listed for.

Sure, as agents we can do our homework and explain the conditions in which the market has previously acted, but none of us mere mortals can predict what will happen in the next 10 minutes, much less further out into the future.

For years now, it’s been a sellers’ market. Who knows if and when it will slow down, and when it will be a buyer’s market again, aka the financial fiasco in 2008, when the lending industry collapsed.

The best I can do is talk to the potential sellers about how to get their property viewed online, or in person, or how to get the neighbors chatting (whether those neighbors like the property itself or not), and then they’ll tell their friends, who will tell their friends and we’ve got a Facebook-Next Door thing going on.

But one of these days….sooner or later, despite the broker’s disclosures that they give to the sellers, there’s gonna be one (or more) pissed off sellers. Once their property has closed, somebody (at a party, at the beach, in line at the grocery store), will tell them that they would have easily paid $$$$ more than what they sold it for.

Oh, and btw, I feel the same way about Dual Agency (when the listing agent also is acting as the selling agent), repping both parties at the same time. Sure it seems good to everybody…and the jackpot goes to that agent….but ka-boom! It’s legal but I don’t consider it ethical.

You can have a Buyer’s agent and a Listing agent from the same company…but it’s not as dangerous as one person repping both parties. Be sure you know what/how that relationship is between the listing and the buyer agents.

And be sure you trust your listing agent. I’ve heard stories over the years….oh well.

IMHO.

Alameda Real Estate this Week

Tues tour 14 

I saw 4 places in short order…1 on BFI and the other 3 were multi-units on the main island. Two of those were terrific!

New 17

A/C 1 active contingent (have something to sell before they can buy)

BOM 1 back on market

Pending 10

Sold 16

Withdrawn temporarily 2

Total active listings on the market 29

Have a great weekend! Contact me if you have ???!

best, marilyn