"All the world's a stage..."

You might be wondering if you need to stage your house to help sell it. I can tell you right now that you do indeed need to stage your house. You might be thinking, "Hey, she hasn't even seen my lovely home. What does she know?" I know that you need to stage it. Let me tell you why.

You are trying to sell your house, not your home.

While I am sure your home is lovely, but it is your home and it is full of your personal taste, furniture, and memories. To sell your house, you need to present it as a showplace, cleared of its past and ready for the future--ready for new ideas and new adventures.

Buyers want to see a house that is light, airy and open--a blank slate for them to envision their futures. They want to see new furniture, new designs, and they want to see as much of the floorplan as possible so that they can begin to imagine their own furniture and ideas in the space. Buyers want to see your house as their future home.

Professional stagers can help you with everything from de-cluttering and re-organizing to providing new paint and new designs to maximize your house for the market. Take a look at the following before and after pictures of the dining room of a house I recently sold so that you have a better idea of what stagers can do for you.

Before:
















After:

Which would you prefer? Look at the difference in space and color and think about which one you would want to buy.

This staging was done by Scout, and there are many terrific staging companies in the East Bay, such as Jackie Brown. If you would like to further discuss the power of staging or need a referral, please let me know. I'm always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

Have a great weekend!

6 Degrees of Separation

Writing about Bryan's HOA banking services yesterday reminded me of the power of referrals and our networks of friends, families, and colleagues. What a great way to live and work!

I met Bryan after my son referred him to me. He had gone to high school with Bryan's sister and knew of Bryan's home search in the East Bay. After Bryan was in his new home, I referred him to Pam, another client of mine who does landscaping. Coincidentally, Pam's son used to work for me. So many of my personal and professional relationships have fascinating connections like this and makes life a lot more interesting.

I also just returned from an inspiring professional retreat produced by Buffini & Company that focuses on the power of referrals. Who would you trust more....a plumber that your good friend or sibling recommends, or one you find on the internet or phone book?

After more than dozen years of working in real estate in the East Bay, I am so pleased to look at the talented group of people I know and work with. If you ever need a referral f0r some help in the East Bay, let me know. And, I just might ask you next time I need a referral (like it would be great to know some wonderful caterers or mechanics!). Check out my ever-growing network of referrals at Mary's List or just drop me a line. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

(And, oh by the way, if your friends and family ever need a realtor, I'm never too busy for your referrals!)

A New Way to HOA?

One thing to always keep in mind when planning to purchase a condominium or into a similar “common-interest community,” is the HOA, or Homeowner’s Association. You will need to think about how involved you will be in the HOA and how much you can afford to spend on the monthly fees and possible special assessments.

The HOA is a community comprised of all the individual homeowners and is represented by an elected board consisting of homeowners who oversee the management and development of the entire building or organization. They do everything from enforcing the rules of the building to organizing maintenance and upkeep to handling problems that might arise. If you are living in a smaller development, say two to eight units, you will more likely be involved with the HOA versus if you live in a larger building, of say 100 units or more.

Monthly HOA fees can vary wildly, so you need to figure how much you can afford. They might cover general maintenance to utilities to the salary for a concierge. The arrangement is different for every association, so make sure to find out what it covers. You might also get hit with a “special assessment” should a significant problem arise. Perhaps the roof develops major leaks and a new roof is needed. Or perhaps a driveway or garage requires re-paving. Special assessments can surprise you, they can cost a lot, and you are responsible for your share.

But, keep in mind that the HOA can be your friend. For instance, the HOAs in several Emeryville condo buildings have been battling their developer for poor construction that led to mold and other problems. Those HOAs have led the legal battle on behalf of the residents and have made great strides so that the individual homeowners could continue their day-to-day lives as smoothly as possible.

But, could there be a better way to HOA? Bryan Wong is the VP of Community Association Products and Services for Popular Association Banking, and he specializes in helping HOAs run effectively and smoothly. For instance, he can arrange loans and banking services so that HOAs can better manage their money and create more affordable payment plans for the dreaded special assessments. Plus, they can help with litigation should that arise, or wisely invest the HOAs holdings to help prepare them for the future.

If you would like more information about HOA management, I invite you to get in touch with Bryan at 925-730-2183 or BWong@bpop.com. And, of course, I am always available for any of your needs at 510-547-5970 x57 or MSmartt@jps.net.

Put Me In, Coach!

Friday is here, and it is nice to write about some non-real-estate topics sometimes as we head into the weekend. Let's talk about coaching. Not leading the team to win the World Series or Super Bowl, but life and career coaching. Coaching has made a tremendous difference in my career and life, and I highly encourage it.

A coach is someone you can meet with to help you establish a strategy for your work and your life. It might sound like therapy, but it is not. A coach helps you identify goals that you want to achieve and then create a plan to tackle them. My coach helps me to better understand my goals, to better articulate them, and to refine them so that my goals are achievable. Coaches challenge you with new ideas, and they provide a healthy dose of accountability. For most people, it is just too easy to set goals, only to forget about them later. A coach stays on you until you achieve success.

If you are new to this concept, you might be thinking, "Oh great, something else to do!" But, it can be as simple as a phone call or a coffee meeting every 2-3 weeks for just 20 minutes. Plus, it really helps you focus your time management so that you are working smarter, not harder. You'll barely even notice the time commitment, but you'll definitely notice the positive results.

I get all my coaching through Buffini & Company, a real estate training and coaching company. In fact, I'm off to our annual Mastermind training retreat in San Diego for the next few days. I really look forward to it every year. If you have questions about coaching or would like help finding the right coach for you here in the East Bay, let me know. I'm always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

Have a great weekend!

Real Estate 101

So, What is the Difference Between Real Estate Agents and Realtors?



Real estate professionals reading this blog might be rolling their eyes about covering such a basic topic, but I still get asked all the time what is the difference between a real estate agent and a Realtor. Most people use the terms interchangably, like calling a tissue a Kleenex or a Canon copier a Xerox.


All Realtors are agents, but not all agents are Realtors. An agent is merely someone who has passed the state licensing requirements to buy and sell real estate. The main difference between a Realtor and an agent is that Realtors (like myself!) follow a strict code of ethics and belong to a Realtor board. Perhaps a good comparison is the difference between a licensed doctor and being a board-certified doctor.


There are 17 rules in the Realtor code of ethics, including such items as:

• Put the buyers' and sellers' interests ahead of their own


• Refrain from exaggeration and misrepresentation, and investigate and disclose problems


• Cooperate with other Realtors, agents and brokers


• Make sure all written documents and contracts are clear and easy to read and understand


• And many more. For a complete list of the code of ethics, click here.
  

In addition to a strict code of ethics, Realtors can help you assess your financial readiness, assist with negotiations, provide market analysis, and more. To see the National Association of Realtors' complete guide and resources, please visit Realtor.com.

With such expensive transactions, it is best to work with the highest level of professionalism possible, whether the market is thriving or rocky. Trust a Realtor to help you out. And, yes, I am a Realtor. If you need help buying or selling a home, I would be happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

(PS. Go Danny!)

Trulia & Zillow & You

VERSUS

The real estate consumer is becoming more and more web savvy (otherwise you wouldn't be reading a real estate blog, now would you?), and two of the more popular sites are Trulia.com and Zillow.com. What are they and how can they be of use to you? Or, are they of no use at all?

Both sites collect and analyze real estate information in many different urban metropolitan centers, including the Bay Area. Both sites offer current listings, data on recent sales, and valuations on properties. Trulia tends to have more of an emphasis on current listings and includes a nice interactive Q&A function called "Trulia Voices." And, Zillow seems to have the edge in providing valuation information.

I recently read that 85% of real estate consumer begin their journey with web searches. Are these two sites the best place to start? I think they are a fine place to start in order to get a snapshot of the market, but I highly encourage you to work with a realtor for your transaction.

Both sites have an incomplete inventory of homes for sale, mostly including just those from the chain brokerages and those actively submitted by agents. You are better off using a more complete site like Realtor.com. And, working with a realtor will help you find the gems in the neighborhood or to best market your home.

As for valuations, the sites use algorithms and applications that lack human eye and intellect. The comparables they include are not very realistic, sometimes comparing small 2 bedroom condos to large 2 bedroom single family homes in the same neighborhood. The value of a home is truly determined by the buyer and the seller negotiating in the free market. If the buyer makes an offer and the seller accepts it, then that is the value. If a home is listed too high, especially in this changing market, no one will buy it. And that means the list price is not that house's value.

So, Trulia and Zillow are fine for market pictures and to do basic research--even I look at them sometimes. But for real guidance in the real estate world, rely on a realtor with expertise in your neighborhood. If you need expertise and guidance in Berkeley, Oakland or other East Bay neighborhoods, let me know. I can be reached at 510-547-5970 x57 or MSmartt@jps.net

Real Estate 101

Dual Agency--Yea or Nay?

Whether you are a home buyer or seller, it is important for you to understand the legal nature of the agency relationship you have with your agent. We must act in your best interest while representing you in a real estate transaction. This gets complicated if you find yourself in a "dual agency" situation.

What is dual agency? Basically, it means that a real estate agent is representing both the buyer and seller in a real estate transaction, which is legal in California (but not in all states). A real estate agent who is working as a dual agent could easily find herself in a conflict of interest by trying to represent the best interests of both parties. On the other hand, if the agent has a sound understanding of everyone's goals and works in a highly ethical manner, there shouldn't be a problem.

So, what should you do if you find yourself in a dual agency transaction? First, insist on clear communication at all times. Second, be explicit with the agent about your needs in the transaction. Third, check with the agent's broker if you have any questions or concerns.

If all the involved parties work hard toward a smooth close of escrow (like they always should!), dual agency doesn't need to be a problem. But, it is your right and responsibility to ask questions and make sure it is the right representation for you. It can be a complicated situation, so if you have questions or want more information about dual agency, please let me know. I'm always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.