Quick Links Top Sales & Closed Sales For the Week
Selma Hepp’s Blog
From Ed’s Desk Dear Marin Colleagues, I can’t help but applaud the spirit that all of you bring to work every day. Heck, I don’t even think of it as work. It’s an adventure. People ask me all the time if I like what I do. The answer is yes, I do. When I walk in to the Kentfield office and see Zamira Solari gearing up for Halloween with her kids, riding her horse around the office, while she is submitting an offer, or the Estates Meeting where you listen to each other, collaborate and support each other with your business opportunities, I am continually reminded of the power of team work together, we make things happen and that is game changing.
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As we make the transition to Compass, it will be a game changer too. With top talent, top market share and top tools and technology we will have the ability to move our industry to a new place defined by us versus them. That is the key to change. Do you want to have a hand dealt to you or do you want to be the dealer? Let’s be the dealers. At our next Estates Meeting November 13, Mark McLaughlin will present his vision and our future vision of what the Compass/ Pacific Union future will look like. The stats speak for themselves and I can summarize it in one word, powerful! Mary Thompson’s recent report from her visit to Compass Headquarters in New York was inspiring to say the least. As Mary confirmed, there is a tremendous amount of human capital and money being invested in the future real estate industry. As they say, lead, follow or get out of the way. Change will continue to happen, let’s lead. Onboarding, rebranding and training will all commence this coming week and continue for the next few months. All I ask is that you embrace change. The rewards are endless, and the opportunities are at your fingertips. Your staff is changing too. Candy Bertoli has recently been promoted to Senior Director of West Coast Operations under Brent Thomson. Amy Bowes, our Novato office manager, has been promoted to Regional Operations Manager for Marin and will be assuming Candy’s duties. Jerri Cohen is moving on to a new job at Restoration Hardware and we will be hiring two new managers for Belvedere and Novato offices. Our new office in downtown Mill Valley will be opening in early January and will be a beautiful new location on the gateway into Mill Valley. Lots of good things are coming. Stay thirsty!
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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
Brill Smith Selling $7,000,000 12 Crest Road, Belvedere
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 Advising Sellers About Safety Issues Q: I recently took a listing of an older home that has not been well maintained. The Sellers, (who have very little equity and will not be netting much at close of escrow), do not want to spend any money to correct code violations or make any repairs. They cannot afford to reimburse me if I try to help. There are multiple defects which could cause someone to trip and fall. I also suspect that they may not have adequate insurance coverage. There are a couple of separate Advisories in our branch office relating to protecting personal property and the risks of having people take off their shoes to view the interior of a home but these do not address my concerns. What is the best way for me to warn Sellers about their risks including those from defects and other hazards? What is the best advice for me as the Listing Agent? A. This is a timely question since we are seeing an increase in personal injury claims (including wrongful death) pursued against Sellers and Listing Agents that occur at brokers’ tours, open houses and even during inspections. When Sellers are sued, they often blame their Listing Agent for not properly protecting the Sellers’ interests and/or for failing to take reasonable corrective action to prevent the injury and/or they claim that they were not properly advised on what steps they needed to meet their obligation to protect their own interests (which is specified in most Listing Agreements). In addition to the breach of fiduciary duty claims raised by Sellers, the injured parties usually file a direct claim against the Listing Agent for not take reasonable steps to correct the problems and/or to properly prevent injuries by using appropriate warning signs. It is not always easy to tell Sellers about the negative aspects of their property, especially those factors which relate to health and safety issues that not only devalue the property but create potential hazards for anyone visiting the property. The best method is to provide Sellers with a comprehensive Advisory to warn about their potential risks and to document that you have made good recommendations to the Sellers such as what steps they can take to minimize their risks. Some brokers currently use single issue (or stand-alone) advisories on various topics. Attached is a single, comprehensive Advisory to document that Sellers have been warned about the need for Sellers to conduct their own Property Hazard Assessment and to recognize that pools and spas are not the only water features that pose a risk to small children. The attached SELLER ADVISORY REGARDING SAFETY DURING MARKETING OF PROPERTY also eliminates the need for separate warnings about “shoes off” requirements, protecting personal property and valuables (including artwork, medication, firearms and personal/financial information), making reasonable accommodations for people with disabilities and the need for insurance coverage.
PRACTICE TIPS: 1. The best practice for Listing Agents is to provide the SELLER ADVISORY REGARDING SAFETY DURING MARKETING OF PROPERTY at the time you take the Listing. 2 of 2 2. Listing Agents should recommend that Sellers obtain advice as to how best to assess potential hazards and how to prevent injuries. 3. Every time that the Property is to be show or inspected, Listing Agents should check for danger signs. Do not assume that the Property has remained in the same condition. 4. To the extent that hazards exist which cannot be corrected (unsafe steps or access ladders), the best practice is to post large, easily-understandable warning signs and, as much as possible, prevent anyone from having access to unsafe areas. 5. Do not assume that any type of oral warning as people come onto the Property is sufficient. Such warnings are often difficult (if not impossible to prove) and if there are multiple visitors who visit the Property more than once, the likelihood that the oral warning was given every time is unlikely. 6. If there are multiple hazards, consider not having a lock box and have all access controlled by appointment only. In these situations, photographs of the hazards should be reviewed by the broker with risk management counsel to assess what additional steps may be necessary. SEE ADVISORY WHICH FOLLOWS ON NEXT PAGE.
DO NOT FORWARD TO SELLERS OR BUYERS. 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.
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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
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Compass Updates 11/5 Agent Onboarding begins- Book your classes! 11/13 Estates Meeting- Compass/PU Roadshow Speaker: Mark McLaughlin
Tell your sphere you’ve joined compass! Email Template in Marketspace
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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
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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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