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Let the show begin. Our move to Compass will begin in earnest beginning early November. Staff has been receiving training and should be up to speed by the time all of you are onboarded. Those of you in the Innovative group have already received your Compass login information and are already experimenting with the tools. This is an exciting time for all of us and as I have mentioned it is a great time to revisit your business plan for 2019. If I can help please do not hesitate to reach out. We will review the onboarding and training schedules at our next Estates Meeting Tuesday October 30, 9:30 at Piatti’s I have had the opportunity to meet with many of you and discuss our future. I have also had the chance to learn more about Compass and the vision and leadership behind it all and I can tell you I am excited. Putting the tools Compass has and is developing into your hands is going to create a very powerful brand and will truly keep you in the leadership spot you have all worked so hard to create. Please know we will do everything we can to make this transition as smooth as possible for all of you. Moving back the implementation date to mid-November was done to take the pressure off of you, allowing you to focus on your business. Together we will get through this and we will be stronger, faster and more dynamic then we have ever been. Stay strong and thirsty! See you Tuesday
Need Marketing Assistance Click here! License # 01866771
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Market Share Mill Valley
Novato
Belvedere
San Anselmo
Corte Madera
Greenbrae
Fairfax
San Rafael
Larkspur
Ross
Kentfield
Sausalito
Tiburon Marin County Market Share
Concierge CLICK HERE TO SUBMIT YOUR REQUEST
Amy Bowes Lisa Srisavat Jerri Cohen Ashley Jennings Joan Simone Bella Shilman Chelsea Dederick
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Top Sale Of The Week
Marilyn Rich Selling $5,350,000 10 Rock Road, Kentfield
Marin Stats For Sale vs. Sold
Weekly Market Update
Avg. Price Per Sq. Foot
Months of Inventory
Days On Market: Sold
Average Price For Sale vs Sold
Market Share By City
1974- 2017 Ave Sale Price
Open House Graph
Source: Trend Graphic/Charts Bareis MLS (updated on the 6th of every month)
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Weekly Broker Tip What “Transaction Documents” Must Be Kept in the Broker File? Q: We were recently advised that we need to keep all offers presented to Sellers on our listings, even those that were not accepted or even countered; and that we need to keep all offers that we prepare for our Buyers. We were also told that we need to keep emails and some text messages. Can you please clarify the scope of what is considered to be a “Transaction Document” that must be maintained in the Broker file and what text messages do not have to be put into the Broker file? A: The legal requirements defining which documents must be in a Broker file are found in several places, and also govern which electronic communications must be filed with the Broker as well. 1. THE LEGAL REQUIRMENT: There are several sources in the law that describe which Transaction Files must be maintained by a Broker. “Documents which may have a material effect upon the rights or obligations of a party to the transaction.” Commissioners Regulation 2725 “A licensed real estate broker shall retain for three years copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed by him or her or obtained by him or her in connection with any transactions for which a real estate broker license is required….“[t]his subdivision shall not be construed to require a licensed real estate broker to retain electronic messages of an ephemeral nature, as described in subdivision (d) of Section 1624 of the Civil Code.” B&P Code §10148 Civil Code §1624(d) excludes any “. .electronic message of an ephemeral nature that is not designed to be retained or create a permanent record, including, but not limited to a text or instant message . .” or that “are not designed to be retained or to create a permanent record..” Broadly stated, a Broker must maintain in the Broker file the following: Any document that a Salesperson or Broker Associate prepares for or presents to an actual or prospective client (a Buyer or a Seller), and any document received by a Salesperson or Broker Associate which may have a material effect on the rights or obligations of a party, whether or not the document was ever signed by the client. 2. ELECTRONIC COMMUNICATIONS: The requirement for a Broker to maintain electronic messages includes, of course, emails, but it also includes text messages, unless the electronic message is of an “ephemeral nature.” See Civil Code §1624(d), above. In today’s world, much of the communication in real estate transactions is electronic because both sales professionals and their clients utilize mobile digital devices today. This is not only a convenience, but can be helpful since retrieved and stored electronic communications are a form of “writing” which can be used as evidence of what occurred in a transaction, as well as to provide a means for a Broker or Manager to supervise the activities of sales professionals and their transactions.
If the information that a sales professional wishes to convey is important, email is the preferred form of communication, because email is easier to edit prior to sending and there are no limitations on the number of characters which can be used. In addition, emails are also easier to store and retrieve as compared to other forms of communication. PRACTICE TIPS 1. The Broker file must contain ALL listing agreements, even if the property never sold; all disclosure documents; and all offers, counter-offers, addenda and amendments written or received by a sales professional, whether or not signed by the parties or become part of a closed transaction file. 2. Emails from or to sales professionals need to be provided to their Broker in a timely fashion along with all other transaction documents. 3. Text messages should not be used to relay significant information about real estate transactions. 4. If text messages are used to relay “non-ephemeral” information which fits into the broad definition above, then the text messages need to be retrieved and stored in the Broker’s file. 5. If sales professionals are using text messages to relay important information about real estate transactions, then the Broker or its sales associates should consider investing in an app which can recover messages from the type of phones and mobile devices used by the agents. Multiple products are available for iPhone and Android users. Broker Risk Management does not endorse any particular provider. 6. If there is any question as to whether or not any given electronic communication should be put into the Broker file, the best practice is to err on the side of adding the communication to the file. It may not seem important now, but that communication may become crucial if there is a DRE investigation, claim or lawsuit. 7. CAUTION: Remember that all emails and texts to and from any person involved in a listing or transaction, including your Broker/Manager and other agents, both in and outside of your brokerage, are discoverable by Subpoena. DO NOT WRITE ANYTHING IN AN EMAIL OR TEXT THAT YOU DO NOT WANT TO SEE BLOWN UP TO SIX FEET HIGH IN A COURT ROOM.
Click here to read more ... DO NOT FORWARD TO CLIENTS. This Weekly Practice Tip is for the exclusive use of clients of Broker Risk Management and their agents. It may not be reproduced or distributed without the express written consent of Broker Risk Management. The advice and recommendations contained herein are not necessarily indicative of standards of care in the industry, but rather are intended to suggest good risk management practices. PRACTICE TIPS All Weekly Practice Tips are available at BrokerRiskManagement.com User ID: clientaccess, password: yard
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Economic Straight Talk California’s Unemployment Rate Falls to a New Record Low in September •
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California added 13,200 jobs in September, bringing the unemployment rate to 4.1 percent, a new record low since 1976 according to the latest numbers from the state Employment Development Department. With 339,600 jobs added from last September, California has created more than 3 million jobs since the economic recovery started in February 2010. California continues to outpace the nation in job gains, with a 2.0 percent year-over-year increase compared with the national growth rate of 1.7 percent. Though the state’s annual labor-force growth remains subdued, it increased by 34,300 workers from August. Over the month, four sectors added jobs, led by an 11,800 gain in the professional and business services sector (largely in administrative support services), followed by leisure and hospitality and government. The mining and logging sector also added jobs. Six sectors reported monthly losses, led by educational and health services, down by 3,700 jobs; information, with a loss of 3,000 jobs; and construction, with 2,000 job reductions. On an annual basis, nine of 11 industries added jobs, with the largest gains in professional and business services, up by 78,200 positions; educational and health services, up by 77,900 jobs; and leisure and hospitality, up by 68,600 jobs. Other services, along with mining and logging, have lost net jobs this year. While generally subdued, all regions of the state saw employment gains. San Francisco and San Mateo counties created 900 jobs from August and 20,900 jobs from last September. Gains were primarily in the education and health services sector, followed by the leisure and hospitality industry. The professional, scientific, and technical services sector and the trade, transportation, and utilities industry recorded job losses, with some reductions in retail and wholesale trade. Still, on an annual basis, most industries, except other services, posted solid gains. The unemployment rate fell to 2.2 percent in the two counties. Santa Clara and San Benito counties added 2,500 jobs in September, mainly in the government sector’s local and state education services. Three large sectors showed losses, mostly following seasonal patterns: professional, scientific, and technical services; information; and education and health. On an annual basis, the region added 36,200 jobs, with all sectors posting solid gains except for trade, transportation, and utilities. Alameda and Contra Costa counties added 4,500 jobs, with the government sector leading the gains, primarily due to the normal seasonal increase in public educational services. Meanwhile, the leisure and hospitality, financial activities, and construction sectors posted declines. Over the year, the two counties have created 23,800 jobs, led by the professional and business services sector (8,000 jobs) and trade, transportation, and utilities (6,100 jobs). The private educational and health services sector added 3,700 jobs from last September, with most of the increase coming from health care and social assistance, up by 3,200 jobs. Only the financial activities industry posted employment declines from a year ago.a
Read More Here We encourage you to share Pacific Union’s daily blog posts via email, your own blog, or social media. All blog content is updated daily in VoiceStorm, which allows you to share posts to the most popular social networks with just a few clicks. Additionally, our team sends out a weekly Content Hit email each Monday, which contains everything you need to promote Pacific Union content on Facebook, Twitter, or your own blog.
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Compass Updates Estates Meeting 10/30 Agent Onboarding & Training Schedule
Tell your sphere you’ve joined compass! Email Template in Marketspace
Tell your sphere you’ve joined compass! Instagram Images Click here for black Click here for white
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2018 Advertising Online & Print Distribution, deadlines, and rates
*Some details will be updated as information becomes available. Advertising rates are subject to change. If you are interested in a specific publication that is not on this list, please contact your Marketing Coordinator directly. Co-op advertising rates are at your manager’s discretion.
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PREMIER SERVICE
@pacificunion
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Resources - Forms, Vendors, Services • Inspection Checklist and Forms • Pacific Union Marin Vendor Guide • FEMA: Marin Flood Zone Update
• Sewer City and Fire Inspections
Pacific Union Leaders Brent Thomson & Pat Heller to Speak at Industry Conference Pacific Union Chief Operating Officer Brent Thomson and Vice President and Branch Manager Pat Heller will be among the featured speakers at the second California Association of Realtors’ WomanUP! Conference on June 28-29 at the JW Marriott LA Live in Los Angeles. The two-day conference is part of CAR’s women’s outreach program to bring together a community of mentors and leaders to communicate, collaborate, and support one another in the real estate industry. For its program, CAR earned a nomination for an Inman Innovator Award from Inman News, which saluted the organization’s commitment to helping elevate women in the industry. Thomson oversees all aspects of Pacific Union operations, including the recruitment and performance of top real estate professionals. She also leads the executives of the firm’s Northern California region. “Women make up the majority of the real estate industry, yet they’re underrepresented in brokerage leadership,” she says. “This conference seeks not only to heighten awareness of these opportunities, but to inspire women to move toward them.” Thomson continues, “Building self-confidence and learning to trust myself has been a by-product of many successes, as well as failures. Learning to appreciate that a failed attempt was far better than no attempt gave me more freedom to express myself, think big, and respect the same in others.” Heller, who heads four Pacific Union Westside Los Angeles locations (Brentwood East, Marina Del Rey, Pacific Palisades, and Santa Monica), has led every office she’s managed over the last two decades to top five national revenue-production status. She sees the conference as an invaluable opportunity for women to gather both input from experienced brokerage owners and support from the real estate community as they pursue their leadership careers. “This is an empowering event for women across our field,” she says. CAR data shows that 60 percent of real estate professionals in California are women but only about one-third of leadership positions in brokerage firms with more than 100 professionals are led by women — a statistic that has been virtually unchanged in recent years. CAR held its inaugural WomanUP! Conference in Pasadena last year. More than 300 women and men attended the full day of professional development devoted to giving powerful women bold tools to take their careers to the next level.
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Affiliate Resources The Mark Company The Mark Company is the authority on urban residential real estate sales and marketing. Using The Mark Method, our unique approach aligns developer goals with buyer insights to deliver unbeatable results. Visit: themarkcompany.com
Property Management Pacific Union Property Management offers full-service property management to property owners, landlords and investors throughout the SF Bay Area, helping your clients to maximize luxury real estate investments. Visit: pacunionpm.com
Commercial Backed by Pacific Union’s strong name recognition and marketing foundation, our Commercial Brokerage specializes in buying, selling, and leasing commercial properties- apartments, office, retail, and industrial- for a mix of clients. Visit: pacificunion.com/commercial-real-estate
Rentals Gain access to the Bay Area’s most exceptional rental properties with the helpof our rental experts. Visit: pacificunion.com/leasing-rentals
Relocation Whether you are moving to or departing from the Bay Area ... whether your move is job-related or personal ... whatever your move, we’ve got you covered. Visit: pacificunion.com/relocation
ProInsurance In addition to homeowner’s coverage, ProInsurance provides competitive pricing on a full range of personal insurance needs. Visit: pacificunion.com/pro-insurance INTERNATIONAL PROINSURANCE SOLUTIONS, LLC.
To obtain more information and quote, contact Adrianne Peixotto at 415-223-5543 or email adriannep@proinsurance.com
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