Quick Links Top Sales & Closed Sales For the Week
Selma Hepp’s Blog
Marin Stats
From Ed’s Desk Dear Marin Colleagues,
Weekly Broker Tip
Pacific Union Tools
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Traveling seems to be the buzz word on responses I am getting on emails and messages for what seems like everybody in Marin. That said many of you are lining up listings for the fall market and it looks like a fair amount of new inventory will be coming to the Marin market. Pacific Union NorCal will be launching our Private View on our website beginning July 31. This is an incredible opportunity to pre-market your listing while you are working to get it ready for MLS and full exposure. Private View has been in effect in SoCal for over a month and the response has been very successful. I would strongly encourage you to get your upcoming listing on Private View. Any of your Concierge/Managers can help with this. Stats, stats and more stats. Our discussions about market direction are ongoing and we are paying close attention to what is occurring in Marin. I will be sending out YOY stats and specifically April to July activity to see if we are experiencing a change or more normal activity. Unit volume is down but dollar volume is up and there can be a number of reasons for that. Low inventory, rising interest rates, geopolitical issues or seasonality. There is still a lot of market activity and many buyers are out there looking and ready to buy. Stay focused!
Pacific Union Affiliates
If you are on vacation, enjoy it. You work hard!
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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 MARIN CONCIERGE TEAM
Lisa Srisavat
Megan Penna
Amy Bowes
Jerri Cohen
Joan Simone
Ashley Jennings
Chelsea Dederick Click here to submit your request
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Top Sale of the Week $4,050,000 20 Carmelita Ave, Mill Valley
Tina McArthur Selling Agents
Victoria Love Selling Agents
Based on Information from 02 19 18 Noon - 03 23 18 Noon Please note that even though a sale closed during this time frame it may take longer to process.
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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California’s Unemployment Rate Maintains Record Low in May The Golden State added 5,500 jobs in May and downwardly revised April’s monthly growth to 25,600, according to the latest numbers from the California Employment Development Department. This year’s job numbers have been unusually volatile, mostly due to largerthan-usual changes in industries that are sensitive to seasonal trends. Total state numbers also differ slightly from changes seen at metropolitan area levels, suggesting that statewide numbers may be revised upward. California’s unemployment rate remained at a record-low 4.2 percent in May. Many metropolitan areas showed further declines in unemployment rates, largely driven by the state’s shrinking labor force, which dropped for the third consecutive month and now totals 49,000 persons. It was also the fifth labor-force decrease in the last seven months. Four industries added a total of 12,900 jobs in May, with the largest gains in the leisure and hospitality sector, followed by professional and business services, information, and other services. Six industries reported losses, with the most coming from the construction industry, followed by trade, transportation, and utilities and educational and health services. Nevertheless, since last May, 10 of 11 industries added a total of 307,600 jobs, with the largest gains in the educational and health services sector, leisure and hospitality, and construction. Other sectors that added jobs over the year were professional and business services; trade, transportation and utilities; government; information; manufacturing; financial activities; and mining and logging. Only other services posted a year-over-year loss. Other services include jobs in repair and maintenance; personal and laundry services; and religious, civic, and similar organizations.
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. Check it out at blog.pacificunion.com
Weekly Broker Tip
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Removal or Waiver of Contingencies in an Offer Q: My Buyers want to write a non-contingent Offer but, if they learn something negative about the Property during escrow, they may not be able to cancel the deal without losing their deposit. I have seen other agents simply check the box in Paragraph 14C of the C.A.R. Residential Purchase Agreement form (“RPA”) without attaching the Contingency Removal form in the hopes that they will somehow keep their Buyers’ options open. That method does not seem to me to be very honest. What steps should I take to protect my clients who want to remove some or all Contingencies in their Offer? What steps should I take to minimize my own risk with those same clients? A: There is some confusion about Paragraph 14C as evidenced by the unfortunate way that some real estate licensees are misusing that provision. Misuse of contract forms can potentially harm the Buyers and both the Selling Agent and Listing Agent. This Week’s Tip will focus on what is a Contingency and how to best waive or remove Contingencies in an Offer for everyone’s protection. 1. What is a Contract Contingency? A contingency in any type of contract is legally defined as a condition or event that “may or may not occur.” With real estate, the ultimate performance of the Purchase Contract (closing escrow) can be made “subject to” or “contingent upon” the occurrence of a specified condition (e.g., Buyer’s approval of the status of title) or definable events (e.g., lender approval of the Buyer’s loan or the Seller finding “replacement property”). If the condition or event does not occur, then the holder of the Contingency has the right to exercise the Contingency to terminate the Purchase Contract and get their deposit back. TIP: Sellers and Buyers must always act in good faith when removing contingencies or performing any contractual right or obligation. 2. How to Remove Contingencies in the Offer? Paragraph 14C was added to the C.A.R. Residential Purchase Agreement (“RPA” dated 12/15) to enable Buyers to remove some or all Contingencies at the time of making their Offer. This upfront removal of Contingencies is effectively a waiver of some or all of the Buyer’s contractual rights which are designed to protect the Buyer; thus, use of Paragraph 14C should not be undertaken in a cavalier fashion.
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
Product Trainings
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Topic: Moxi Listing Presentations When: 7/16/18 Time: 10:00-11:30am Trainer: Ashley Jennings Where: 575 Redwood Hwy, Mill Valley
Let us know if you can make it! What is Moxi: Create a listing presentation that will help you stand out from your competitors. This program displays your content in a digital interactive way that keeps your clients engaged!
See you there! If you have any questions about the trainings please send an email to: ashley.jennings@pacunion.com
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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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