QU IC K L INKS
Top Sales & Closed Sales For the Week
Selma Hepp’s Blog
Marin Stats
Weekly Broker Tip
Pacific Union Tools
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FROM ED’S DESK Dear Marin Colleagues, Interesting week to say the least. Needless to say, I completely underestimated your desire and need for information about Compass and what is going to be available to all of you under our new brand. The overwhelming attendance at Thursday’s meeting was a clear indication. I will make sure all future meetings and presentations will allow more time for scheduling and adequate venue space. Thank you all for your patience and understanding. There are many rumors floating around and they are all over the map. We are working hard to make sure information you receive is direct from Compass Leadership or the Pacific Union Management Team and it is accurate. Do not hesitate to reach out to me if you hear some crazy statement or rumor out there. There is a lot of noise. Stay focused. Our launch date for Compass changeover is being planned for late October/early November. In the interim we will continue to use Pacific Union in all advertising, contracts, etc. Updated schedules and informational meeting dates will be distributed as soon as they are confirmed. As I mentioned at the meeting on Tuesday, we are working hard to minimize the impact and maximize the effectiveness of these changes to your business. Last Friday, I sent all of you informational talking points that you can share with your clients. If you need additional information please let me know and I will support you any way I can. It’s a new week, let’s make the best of it.
Pacific Union Affiliates
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M A R KET SHA R E Mill Valley
Novato
Belvedere
San Anselmo
Corte Madera
Greenbrae
Fairfax
San Rafael
Larkspur
Ross
Kentfield
Sausalito
Tiburon Marin County Market Share
CO N C I ER G E MARIN CONCIERGE TEAM
Lisa Srisavat Jerri Cohen Megan Penna Joan Simone Chelsea Dederick Amy Bowes Ashley Jennings CLICK HERE TO SUBMIT YOUR REQUEST
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TOP SA L E O F THE WEEK
Lisa Smith Listing Agent $3,600,000 93 Coronet Ave, Mill Valley
M A R I N 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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Rising Housing Costs Hit the Bay Area’s Most-Affordable Communities the Hardest Executive Summary:
• Bay Area home sales decreased by 11 percent year over year in August, the secondlargest decline following June’s 10 percent drop, dragging year-to-date sales down by 2 percent. • Marin and Napa counties, however, saw increased sales — a positive reversal from previous months. • Homes sales slowed notably in Alameda and Contra Costa counties compared with previous months of strong growth. • Sales of homes priced between $2 million and $3 million came to a screeching halt in August. • Inventory continued to improve, up by 5 percent from August 2017 after 16 consecutive months of year-over-year declines. • Eighty percent of the supply increase came from more inventory in Santa Clara County, followed by Sonoma and Alameda counties. • Other counties also had slightly more inventory except for San Francisco. • Most of the increase in inventory was for homes priced between $1 million and $2 million. • The Bay Area’s median home price rose by 12 percent on an annual basis. Santa Clara County continued to post nearly double that rate of appreciation, with prices up by 21 percent year over year. • Slowing price growth that started in the spring continued in all Bay Area counties except Napa. • Slowing price growth was most notable in Santa Clara County, followed by Marin and Contra Costa counties. • Affordability concerns are impacting budget-constrained buyers, especially in Sonoma County.
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
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W E E K LY B R O K ER TI P BROKER RISK MANAGEMENT WEEKLY PRACTICE TIP Q: My buyer has discovered some defects in the home after escrow closed and has asked me for help. She feels that the seller must have known of the defects and did not disclose them. What can I tell her? A: Sadly, this is not an uncommon occurrence. When your buyer finds any problems, defects or damage (“damage”) after escrow closes and feels that someone may be liable for the damage, proceed with caution and follow these recommended steps: 1. Advise your buyer to determine the nature, extent and scope of the damage. This will usually entail hiring a contractor or other expert to investigate the Property. That person can then and write a summary of the problem and an estimate of the repair cost; 2. Recommend that your buyer take pictures of the damage; and. 3. Encourage your buyer to review the transaction documents including all of the disclosures, reports and advisories that were given to the buyer so that they can refresh their recollections as to what they knew about the Property when they bought it. If the damage is relatively minor; for example, within the $10,000 limit of Small Claims Court (“SCC”) jurisdiction for individual plaintiffs ($5,000 for all entities), then the buyer may not wish to hire an attorney but go instead to SCC where attorneys are not allowed. (Note: The Purchase Agreement states that claims within the jurisdictional limits of SCC are exempt from the obligation to mediate and/or arbitrate.) However big or small the buyer’s claim may be, the best practice is for the real estate licensee to always recommend that buyers consult with a qualified California real estate attorney to ascertain all of the buyer’s options. Determining who is and who is not responsible for any post close of escrow claims is a legal determination. In some cases, what appears to be relatively minor damage could, in fact, be much greater once the defective areas are opened up. This is particular true if the claim involves water intrusion, mold, settlement and/or foundation issues which often involve significant repairs and costs.
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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P RO D U CT TR AI NI NG S If you need assistance with any of the platforms we use please reach out to Ashley Jennings for one-on-one training! ashley.jennings@pacunion.com
Products: Marketspace Contactually Constant Contact Moxi Facebook Instagram
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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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