Tag Archives: Buyers

Hey Buyers! Turns Out There’s More Inventory Than You Thought

Have a look at what hit our email in the past couple months, and the companies heavily marketing “pocket listings”, “off market” property, or “not on MLS” opportunities.

You, the buyer, would probably like to know about these opportunities, wouldn’t you? Well…you can’t. Not until these brokerages wake up and join the year 2013, move beyond “private” or internal email as the method of choice for delivering these opportunities, look to social networks for some guidance as to where the buying (and selling) public lives, and get with the program!

Pacific Union, McGuire, Zephyr, Paragon, TRI Coldwell Banker, Vanguard, Sotheby’s, the list goes on and on…you ALL have pocket listings, and you’re all marketing them “privately”, so let’s make an effort to encourage each other to participate in an alternative marketplace to bring these opportunities to your fellow agents and the public, rather than continuing to shove this growing marketplace under the massive bureaucratic rug that is our National, State, and Local Association of Realtors. And for heaven’s sake, quit throwing your colleagues (Climb Real Estate) under the bus for taking a step in the right direction! (You know who you are.) It’s high time an alternative to the MLS takes shape, and the opportunity is right here and now.

[The same properties shown above, with links to the site:]
-Dominican Estate [Decker Bullock/Sothebys]
-53 Clifford Terrace [Vanguard]
-1299 Bush Street [Vanguard]
-219 Brannan [Vanguard]
-524 Roosevelt [Vanguard]
-2876 25th Ave [Vanguard]
-466 Hill [Vanguard]
-2509 Polk [McGuire]
-855 Folsom [McGuire]
-2094 Bush [McGuire]
-66 Parker [McGuire]
-2200 Pacific [McGuire]
-171 Caznea [McGuire]
-615 Buena Vista West [Sotheby's]
-2245 Francisco [Sotheby's]
-29 Oak Springs [Sotheby's]
-26 Sanford Lane [Pacific Union]
-1200 Laguna [Zephyr]
-1278 Stanyan [Zephyr]
-50 Lansing [Zephyr]
-Nob Hill Secret address [TRI Coldwell Banker]
-2325 Divisadero [TRI Coldwell Banker]
-2220 Sacramento [TRI Coldwell Banker]
-465 10th St [TRI Coldwell Banker]
-6 Emlin, Kentfield [TRI Coldwell Banker]
-595 12th Ave [TRI Coldwell Banker]
-850 Powell [TRI Coldwell Banker]
-287 Mangels [Barbegelata]

[Editor's Note: Some of these properties were placed on PocketListings.net, and others have since hit MLS and are now sold, but they did land in our email a very short time ago. You can expect some of these links to be killed by day's end, due to panicking brokerages.
Finally, if you'd like to be alerted when these opportunities hit our inbox, drop us a line, and we'll figure out a way to get them to you.]

-PocketListings.net: How To Tutorial [blog.pocketlistings.net]
-Climb Real Estate, PocketListings.net Join To Bring You More Buying And Selling Opportunity [theFrontSteps]
-It’s not listed, but it’s definitely for sale [New York Times]
-Remaking Real Estate, Again [SF Gate]

Sorry Smith, Nguyen Wins. Lee A Close Second. Garcia In Third.

Top 10 California Home Buyer Surnames:

Excellent and relevant data C.A.R! I’m gonna go get me a mailing list of Nguyens, Lees, and Chens, and sell me some houses!

The complete report is below (in PowerPoint). Have a ball with the data. I did.

Buyers be warned. Instead of being asked for proof of funds, agents are going to start asking you for your “first and surname” LOL!

-California Home Buyer and Seller Profile Report (PowerPoint)

Real Estate Commissions…

(Editor’s Note: The following is reprinted from the Real Estate Bulletin, spring 2012 issue, published by the California Department of Real Estate.)

“The California Real Estate Law (Business and Professions Code §10000, et seq.) does not prohibit the sharing of commissions. Before going further, it must be understood that this section and its analysis only covers the California Real Estate Law. Other laws, such as the Federal Real Estate Settlement Procedures Act (known as RESPA) must also be considered by licensees.

From a technical point-of-view, the agent/client relationship, and the right to commissions therefrom, belong to the broker. Nevertheless, it is recognized that real estate agents may work together and decide to share or split a commission.

A licensee may share or split his or her commission with another person or entity provided that person or entity has not performed any acts for which a real estate license is required. The Real Estate Law prohibits the payment of compensation to unlicensed persons who are performing acts requiring a license on behalf of another or others.

For example, a licensee may give a share of the licensee’s commission to a buyer, as an incentive to a prospective buyer, assuming the incentive payment is not a violation of some other provision of law. Where an unlicensed person is acting as a principal in a transaction (i.e., seller or buyer), that person is not “acting on behalf of another or others” (licensed activity) and the prohibition described above would not apply.

If licensed acts were performed, a commission can be shared only if the person was a licensed real estate broker or salesperson acting within the scope of his or her license.

Even though a licensed salesperson may share his or her commission, as discussed above, the salesperson’s employing broker must actually direct and control the manner and payment of a salesperson’s share of the earned commission to ensure compliance with B&P §10137.

Pre-supposing that the broker has authorized escrow to directly pay a commission to the salesperson, the commission can be paid to the salesperson out of escrow.

Depending on the circumstances, there may be a disclosure requirement if such payment is a material fact to a party to the transaction.

Lastly, B&P §10137 allows “a licensed real estate broker to pay a commission to a broker of another State”. This refers to another State in the United States of America. It does not refer to a foreign country. However, there is no prohibition in the Real Estate Law against a real estate broker, licensed in the State of California, paying money to a foreign individual or company (which may or may not be a licensed real estate broker in their respective countries), as long as the payment of money is not for acts which require a real estate license in the State of California.”

Got it?