THE SECOND STORY | May 7th, 2015

Double-ending deals…legal vs ethical


These lovely windows were for sale in the last two weeks. They happened to come with a lovely house. Not sure if these were original, and I didn’t want to touch them, but they sure made an impression on me!  Cool, and kids…


When open houses are held, almost anybody can come in to see the property (kids need to bring their parents, and drunk and/or high people should be turned away, firmly but nicely).

What amazes me is how ‘buyers’ do not have agents! I haven’t kept track of  how many people have asked me to represent them while I’m also representing the Seller! My answer is ‘no.’

“No, I won’t represent you but I will refer you to another agent who does great work.” Most every time, these ‘buyers’ want to get a good deal because not only is the agent put in the middle of the transaction, they figure that the money the agent makes (no sharing of the commission), more than compensates for being in the middle.

And then the ‘buyers’ amazingly have an agent, who then writes an offer, and has often never seen the property!

In the beginning of my career I did rep both parties, in a very few transactions. But I began to see how quickly a transaction could go south doing that. And the big bucks are always in the agent’s eyes!

For a long time now, I haven’t played that game. Both parties may be fine with it at the beginning, but when the transaction progresses, each side wonders if they are really getting the best ‘deal’ out there. Is the Seller getting screwed? Is the Buyer paying too much, taking  on  too much in repairs? And on and on.

 I attended a class in Maine many years ago which focused on ethics in general (not just real estate). The man who taught that class, Rushworth Kidder, had adult students from all over the USA, with amazing and quite important backgrounds. I felt like the idiot in the room.

I learned this definition of ethics in that class:

 ethics: “adhering to the unenforceable.” 

Although representing both parties in a real estate transaction is legal in the state of California, I prefer to stick with that definition of ethics.

Alameda Real Estate this week…

Broker Tour Tues saw all of the properties except for the condo.

New  10

Pending 19

PCH  price change 1

Sold 13 

Active listings this week 36

Pending listings this week  81

Alameda Real Estate Awards this week..remember this is only my perspective!

Grande Dame Never seen it and probably never will. No Broker Tour, no open houses, show them the money!

Winner of the Week mid-century…this got a preemptive offer and went pending. It happened just after the Broker Tour.

Nearly New this is close to the estuary…just off Grand. The new houses at Tri-Point are a version of these 4 year old homes. Small lot, lots of stairs, good space in 3 floors.

OK! That’s a wrap! Enjoy the weekend!  best, marilyn

(some of these links are not active, due to the shift I’m making to WordPress).

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I arrived in Alameda in 1973, as a new bride...with husband Carl Schumacher, both of us from Newport Beach. He was embarking on his career as a Naval Architect (i.e. yacht designer) under Gary Mull. Please see the 'ABOUT ME' page in this website! to see how it has all turned out! I'm so blessed!