Comments on: Coming Soon: 2950 Vallejo, it’ll only take you $25,000,000

By: eddy

eddy — Fri, 13 Jun 2008 16:14:10 +0000

Most people with $25M in a single R/E estate are not stupid or lazy. Even wealthy people like Kirk Hammet from Metallica lament a $1M price reduction on his Divis property that continues to sit for well over a year. High end brokers compete for these listings and are networked very well. It all boils down to how competitive a listing becomes and how much the broker / agent it willing to commit in capital to sell the property. But I’m pretty certain that any cosmetic changes are net after commision — and paid by seller if they pull the listing.

By: Sophie

Sophie — Fri, 13 Jun 2008 01:01:26 +0000

on such a property, how much is spent by the agent? like if the seller refuses to pay for paint touch up, or some stagging, would the agent refuse the contract? or would the agent caugh the expense?

and to some extend, is this so easy to work with such high flyers?

I explain:

If I ever was bored of my 25M bachelorette pad, and wanted to get rid of it, I think I would just dump the keys on an agent’s desk and would refuse to hear anymore about said property. ie. I wouldnt pay for the utilities, the property taxes, the contractor inspection or any legal document, the maintenance (gardener, paint, cleaners etc) – and would just wait in my new NYC pad for the above agent to fly to me with an offer to sign (remember? I’m BORED of the place, so I’m not sure I’d like to squeeze some annoying flight to SFO just for a stupid paper).

I think that the privilege of having an agent sell such a place gives you the worry free priviledge. The seller shouldnt even spend a second on any problem. The seller shouldnt hire anybody for anything. That would be the job of the agent.

Now what is the price limit to gain the privilege of dumping it all on the agent? when you dont need the money and when you couldnt care less about the DOM and SP/LP- and when the agent can afford to pay for all your wishes and still make a profit.

By: eddy

eddy — Fri, 13 Jun 2008 00:09:11 +0000

Top producers get the majority of their commish and only a fraction goes to the agency otherwise these people would just all go elsewhere and produce there. $130M annually. Seems plausable… wow.

By: 40YearOldRenter

40YearOldRenter — Thu, 12 Jun 2008 21:54:39 +0000

Barbara is great, and always so nice. She desires every bit of the $2mil+!

By: Sleepiguy

Sleepiguy — Thu, 12 Jun 2008 18:02:45 +0000

Barbara has been moving about 130 million a year… And yes, 2.5% is probably about right for her commission which is well over 3 million. McGuire gets a cut and so does her team… but I’d still wager that she’s pulling in over 2 million annually.

There are now some interior pictures of 2950 on her website.

By: eddy

eddy — Thu, 12 Jun 2008 17:02:07 +0000

People selling homes over $5M aren’t paying 6% — probably more like 4% and includes lots of marketing dollars as well. So it’s prob pretty easy to figure out. Assume around an average of ~2.5% of her total listed/sold properties each year. She could easily be moving $20 to $25M a year. But she has a team I’m sure so she’s got mouths to feed. But certainly well north of $1M take home. Could be $3M+.

Sell one $25M property….. nice!

By: 40YrOldRenter

40YrOldRenter — Thu, 12 Jun 2008 04:41:00 +0000

How much you think Barbara pulls down a year in pay?

By: thefrontsteps

thefrontsteps — Wed, 11 Jun 2008 23:45:44 +0000

I saw that too. Awesome!

By: eddy

eddy — Wed, 11 Jun 2008 23:23:47 +0000

I love the mortgage calculator on the bottom of the $25M listing. On’y 120k a month after a $5M down payment.