August 31st, 2010 By George Crowe
Dual agency is created when the same brokerage represents both sides in a transaction. Even if each side has its own agent, it’s technically dual agency if they both work for the same company. Single-agent dual agency, or “double ending” as it’s commonly known, happens when it’s actually the same agent representing both the buyer and seller in the sale of a property. It’s a pretty common practice, but is it a good idea?
There are plenty of agents who are happy to represent both sides in a transaction since they earn twice the commission, but there are a number of us who refuse to “double end”, and for very good reasons. Real estate transactions are complicated, and can involve quite a bit of negotiation. No matter how ethical and competent you are it’s impossible to negotiate effectively with yourself. An agent’s job is to act as an advocate not a mediator, and there’s no way one person can simultaneously be an advocate for two sides with opposing interests.
So why would a buyer want to get involved in such a situation? Some home buyers think they can gain an advantage by working with the listing agent to purchase a property. They assume they’ll get a better deal and have an advantage over competing buyers. What they often don’t realize is that they could be putting themselves at risk, as their agent has a fiduciary duty to the seller as well, and that’s pretty much the very definition of a conflict of interest.
We advise clients it’s in their best interest to have their own representation in a transaction. That means, for example, that if I’m holding an open house at my listing and I meet a potential buyer who’s interested in the home, I’ll refer her to another agent. Yes, I’m passing on an opportunity to make twice the commission on the sale, but I know that both my client (the seller) and the buyer need to have proper representation, and that can’t happen if I’m acting as agent for both sides. I take my fiduciary duty to a client very seriously, as any agent should, and the only way to perform that duty properly is to be looking out for that client’s interests above all else.
To be honest, it’s odd that the practice of single-agent dual agency is still legal, as it presents potential for all sorts of conflicts of interest and opens the agent up to potential liability. Attorneys will tell you that judges don’t look kindly on “double ending” agents when things go bad and they end up in their courtrooms. Perhaps at some point things will change and the practice will finally be banned, but until then we’ll steer clear anyway and we hope you do too.
August 24th, 2010 By Ginger Wilcox
I had to go check out the 300 million dollar yacht anchored in the bay off the Sausalito harbor. Nice helicopter! The yacht belongs to 38 year old Russian banking, steel and fertilizer mogul Andrey Melnichenko. The 394 foot long yacht was designed by Phillippe Starck and completed in 2008. You can see other shots taken by the Walk Street journal here.
If you get a chance to head over to the Sausalito harbor, check it out. Talk about lifestyles of the rich and famous!
August 23rd, 2010 By Stephen Pringle
It may be the August doldrums in many areas and segments of the market, but things are not slow everywhere. We just listed this 3 bedroom, 1 bath Spanish charmer in North Berkeley and had more than 100 groups through the first open house and 50 groups at the second open. We’ve sent out 19 disclosure packets and agents have already written 3 offers. Much like we see with listings in Marin, the interested buyers are coming mostly from San Francisco, tired of the fog and public school roulette.
Check out the property webpage at www.1409ada.com.
August 14th, 2010 By Ginger Wilcox
Looking for something to do this weekend? Film is the ticket this weekend in Marin County as the Sausalito Film Festival rolls in to town. The event takes place this weekend at Cavallo Point at Fort Baker in Sausalito.
If you haven’t been to Cavallo Point, the setting alone is well worth the visit. It has some of the most breathtaking views in all of Marin. Cavallo Point sits at the southern tip of Marin County at Fort Baker. It overlooks the San Francisco skyline and a gaze up reveals the Golden Gate Bridge.
The film festival takes place today and tomorrow. I love the description of the film festival from their website:
In the heart of an artist’s community, with the Golden Gate Bridge and San Francisco across the water, lies the ideal backdrop for a premiere film festival experience.People around the world are drawn to Sausalito, certainly for its picturesque beauty, but possibly because it is so uniquely different from anywhere else. Creatives, nonconformists, the famous (and infamous) have felt its gravitational pull. Artists, writers, philosophers, rock legends and film stars have made it their home, in the company of boat-builders, bootleggers and ex-madams.
Films that speak to our naturally rebellious nature, our creative soul, our passion for cultural understanding. Films of all lengths and genres are presented – features, shorts, animation, and documentaries from around the globe. Coupled with conversations and presentations that will stimulate, and provoke the senses. Because this is no mere picture show.
The event features 13 exclusive bay area premiers and a total of thirty films, both full length and short film. The centerpiece film is the award winning documentary, Climate Refugees which explains the growing reality of displaced populations due to environmental disasters. Be aware, some of the shows are already sold out.
- What: Sausalito Film Festival
- When: August 13, 14, & 15th
- Where: Cavallo Point, 601 Murray Circle, Fort Baker, Sausalito, CA 94965 at Cavallo Point
- More Information
Enjoy!
August 11th, 2010 By Julie Segura
If you are up for a good day hike, the Matt Davis/Steep Ravine loop is one of the best in Marin. The half way point is Stinson Beach, where you can relax for the day at the beach or grab lunch at one of the quaint cafes in town. I did this hike over the weekend and had forgotten how beautiful the redwoods and mossy trees can be. The single track trail hugs the creek so that you hear the trickling of water as you walk. There are fallen trees that you’ll need to duck under and a ladder to climb makes it fun, especially if you have kids with you. Although there are many people on the trail, it’s very relaxing and at times you’ll find yourself completely alone. The quiet and tranquility are amazing.
I can’t stress enough the importance of dressing in layers because it can be very cool under the shade of the redwoods (which is 60% of the hike) and then can become very warm once you get into the open and closer to Stinson Beach. You also never know what you will get once you get to Stinson, as the restaurant was sunny when we arrived there but the beach was foggy–only a couple hundred yard difference. The trail to Stinson is mainly downhill so also be prepared for the hike back up. For those who just want to go downhill, you can always take the bus back.
We saw a wide variety of people on the trail, from kids to grandparents, so don’t miss out on an unforgettable hike. It’s a great outing any time of the year and really under any weather conditions. The water level is higher in winter and spring but during the summer the creek is still active.
- Where to start: Park at Pantoll parking area (there is a fee of $8)
- How to get there: From Hwy 101 exit W on Hwy 1 for 3.3 miles, right on Panoramic Hwy for 4.9 miles to the Pantoll parking area. From Mill Valley, go up Miller and take a left on Montford to Molino to Edgewood to Panoramic Hwy then 4.9 miles to the Pantoll parking area.
- Distance: 7.0 round trip (it takes about an hour downhill and hour and half up)
- Difficulty: Steep in some places and one area has a ladder to climb
August 9th, 2010 By Stephen Pringle
Sol Food, San Rafael’s hip, ultra popular Puerto Rican restaurant is opening a bodega next door to its “Big Place” location at 901 Lincoln Ave. The bodega will carry Puerto Rican goods like coffee, salad dressing and homemade hot sauce, and it’ll be the spot where they manage all of their take-out and deliveries. It’s nice to see such a great Restaurant doing so well. If you haven’t eaten there yet it’s really yummy! I love the Camarones Criollos, large prawns sauteed with fresh garlic and onions in a tomatoey sauce, served over rice, with organic salad, avocado and fried plantain. If you like chicken try the Pollo al Horno combo. Excellente!
August 6th, 2010 By Ginger Wilcox
Guess what? If you’re looking for your dream home, you might end up finding it yourself. Odd for a REALTOR® to say, right? When I meet with home buyers, I always tell them that I may not find them their dream house. It is quite possible they may find it online or because their friend knows someone who is selling a house before I even know they are ready to buy. I have talked to a number of home buyers recently who felt the agent didn’t do their job because the buyer found the house, not the agent.
Buying a home is very different than it was ten years ago. Consumers are armed with a tremendous amount of data easily found online. Your real estate agent’s job isn’t just to help you find your home, their job is to help you buy your home. Finding the perfect dream home is really only a small part of a very complicated transaction. Zillow, Trulia, Realtor.com or even our very own blogbythebay.com- there are literally thousands of places for home buyers to find homes. A consumer can literally be inundated with data. A good agent can help you sort through all of that data.
For some home buyers, finding that perfect dream home is much more complicated than others. I had one client who wanted space for a tennis court in an area without a lot of land. Finding their perfect property took a tremendous amount of effort and time, and required extensive research and diligence on my part. There are many homes that aren’t on the multiple listing service or on one of the 1001 home listing websites that a good agent will know about. We sell a lot of off market homes to buyers that they could never have found online, but other times clients call us and say, “Hey, we found the perfect home. We would like to buy it.” This is often when the difficult part of our job begins.
So how do you find an agent who can not only help you find your house, but also help you buy it- aka close escrow? There are a number of things you should look for:
- A skilled negotiator: The entire contract process involves a series of negotiations, even after the contract is ratified and you are in escrow. Your neighbor’s cousin who is an agent may be sweet, but can they save you money, time and aggravation by negotiating successfully for you? This doesn’t mean you hire someone who negotiates just to hear themselves negotiate which can lead to a failed purchase- a contract falling out of escrow. Negotiating successfully involves a series of give and take to reach the desired end result- a home purchase within the budget and time requirements.
- An educated real estate professional: Have they taken classes beyond the pitifully small amount required to get a real estate license? I took all of my licensing courses online. Quite honestly, the process was a joke. When I finished my licensing, my real education began. I mentored with an experienced agent and took extensive course work to make sure I had the skills needed to do my job. Make sure your agent gets ongoing education- this business isn’t standing still. Ask them how they stay up to date on current rules and trends.
- A business professional: She should treat you, service providers, and other agents with professionalism and respect. A good agent will not bad mouth her competition, nor her other clients, even if it is deserved.
- An organizer: Your agent is essentially your project manager to get your transaction closed. Nobody wants a sloppy project manager. A missed deadline in a contract could mean the loss of not only the transaction, but possibly an earnest money deposit for you. An average earnest money deposit in Marin County is about $30,000. I wouldn’t call that chump change.
- Trustworthy: Are they looking out for your best interests? We talk our clients out of buying homes we think are a bad investment all the time. Make sure your agent will do the same.
- Mobile: If your agent can’t assist you while out in the field, they can’t work for you the majority of the time. Successful agents are not in their offices. Find someone who is mobile and can assist you on the go.
- Tech Savvy: If your agent is mobile, they are probably not a technological neanderthal. This is a good test. Your agent doesn’t have to be a tech guru but they need to be up to date on the latest tech tools to not only help you find your house, but manage the transaction process along the way.
- Local: We see many failed transactions with out of area agents. The majority of out of area agents don’t know the intricacies of the individual county, city and even subdivision rules that can impact a home purchase and later on, a home’s resale value. Hire a local agent who knows not only the rules and regs, but also has a pulse on the local real estate market and knows the local agents who will be influencing the transaction process.
- Good with the numbers: Buying a home can very emotional, but it is also a major financial purchase. Your agent should be providing you comparable sales and comprehensive real estate market stats, charts & reports to help guide your decision making process, and should be giving you informed advice about the value of the home.
Your agent may not be the person who finds you the dream home, but a great agent will help make the complicated home buying process successful, no matter who found the property.
August 3rd, 2010 By George Crowe
Peace, sustainability, reggae, and fire dancing will all be in the mix at the Good Festival, happening this Saturday in downtown Fairfax. Sounds like a great opportunity to channel your inner hippie and see a side of Marin that sometimes gets lost amid the Range Rovers these days. It’s on from 11-6 on Saturday, August 7th at Bolinas Park.
July 23rd, 2010 By Stephen Pringle
One of the great things about Marin is the diverse array of cool neighborhoods to choose from when you’re deciding where to buy a home. We love so many of them for a variety of reasons and we’re constantly working to document them all in the Marin Neighborhoods section of the website, but we’ll also highlight areas that we think buyers should be sure to consider in our Neighborhoods to Watch series here on the blog.
One area we think can be a great choice for many buyers is the one surrounding San Francisco Blvd. and Memorial Park in San Anselmo. It’s got a lot of features we think make for a great Marin neighborhood:
- Being able to walk to get coffee, the grocery store or a good breakfast spot.
- Being close to the one of the best parks for kids in Marin where you can play baseball or play on the coolest play structures around.
- Having your own community garden where the kids can pick their own vegetables or collect eggs from the chickens.
- Close to open space where you can hike or run the dog.
- Having a cool, funky neighborhood bar where you can grab an inexpensive cocktail without having to get in the car.
The area has all of these benefits while also being close enough so that you can ride your bike to downtown San Anselmo or Fairfax, and having a good selection of relatively affordable starter homes by Marin standards to boot. It’s definitely worth a look if you’re a home buyer considering San Anselmo.
July 23rd, 2010 By Ginger Wilcox
Tiburon’s Del Mar neighborhood may no longer see utility lines. The neighborhood has been fighting a court battle for nearly seven years to get utility lines buried in the neighborhood. According to the Marin IJ, the project will impact 164 Tiburon homes.
Some homeowners in the neighborhood have been fighting the project because of issues with the homeowner assessment needed to fund the project.
This is positive news for homeowners with bay views that have been restricted by the power lines. I can’t tell you how many times I have shown property to home buyers who say “I love the house, I love the view, but the powerlines…”
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Tiburon Homes for Sale
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Tiburon Del Mar Homes.
(all data current as of
9/7/2010)
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2 beds, 2 full baths
Size: 1,704 sq ft
Lot size: 20,647 sq ft
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5 beds, 4 full, 1 part baths
Size: 3,463 sq ft
Lot size: 12,415 sq ft
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5 beds, 5 full, 1 part baths
Size: 8,000 sq ft
Lot size: 1.10 ac
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4 beds, 3 full baths
Size: 2,999 sq ft
Lot size: 13,242 sq ft
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4 beds, 6 full, 2 part baths
Size: 7,449 sq ft
Lot size: 24,306 sq ft
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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