Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!
Jim Klinge
Cell/Text: (858) 997-3801
klingerealty@gmail.com
701 Palomar Airport Road, Suite 300
Carlsbad, CA 92011
My wife Donna has been the unsung hero behind the scenes all these years.
But with Kayla’s departure, we have the marketing duties being absorbed by Compass support staff, and Donna sliding into KK’s shoes as a frontline realtor on top of all the regular things she does to help get escrows closed.
We’re having open house 12-3pm Saturday and Sunday to find the buyer, and to keep the pressure on those who have seen it, and may be lurking (in case they’re thinking that waiting longer might mean a better price).
Relentless activity keeps the buyers hopping!
A week ago, the Red team’s estimate was $1,040,313, much like the list price:
After a flurry of hits on their website, they called it a Hot Home, and raised their estimate to $1,055,196. But then we lowered the price to $999,000:
Conveniently, after we lowered the price, they dropped their estimate by $70,458 in three days, and is now is within $239 of the zestimate:
We can put to rest any question about how they determine their estimates – they just mirror the list prices.
Tom feels the way I do – lower the price early, while urgency is in play.
Redfin raised their estimate for a third time, now at $1,055,196, so our new $999,000 list price looks very compelling! I expect Redfin will lower their estimate shortly.
This is from Friday morning – their estimate was $1,040,313:
This was the zestimate on Sunday – it is the same today:
In the never-ending attempt to make sense of the market using data, it is interesting to note today that in two out of three price categories, the current pendings are priced higher than the actives.
| Price | ||||
| Under $1M | ||||
| $1M to $1.5M | ||||
| $1.5M to $2M |
It’s makes me think that the home’s condition is what’s driving sales. People are willing to buy, and even pay a little more for the creampuffs, while the homes with any defects are struggling to sell.
Buyers are looking for any reason not to buy, and stay on the couch. All we need to fix that is a compelling home/price!
There may be reasons for a market slowdown, but there is a fascination about real estate that keeps people engaged. We had 200+ people attend the open houses this weekend – wow! We haven’t received offers yet, but if those 200 people tell another 200 people…..market buzz!
Redfin bumped their estimate twice, to over list price now!
We’re lighting up the internet – it’s good to have a positive first impression!
Here’s how the shower door turned out:
Come by 12-3pm this weekend!
https://www.zillow.com/homedetails/1830-Stewart-St-Oceanside-CA-92054/16585098_zpid/
This is the Zillow graph of my luxury one-story listing. It shows how quickly the attention span drops off, and the importance of taking advantage of the early urgency. Make the first impression a good one, because viewers have their searches pre-programmed, and they click & go.
There is a pending sale up the street of a 5,345sf two-story house listed for $1,799,000, and while I had built my case why the one-story homes were more desirable and deserved a premium, apparently that buyer didn’t get the memo. My seller took my advice, and lowered early and in 5% increments – which caused the one-day bump in the views above – creating a sizable gap between us and the pending home up the street.
It worked – we found our buyer a week later!
I’m a big believer in our open-house marketing – it gives us a chance to help the buyers directly. Even though they later said they had an agent, I’d rather do what I can to help make the sale, regardless of who gets the commission.
Our friend and previous seller Tom T is putting the finishing touches on his latest project, and it’s a gem – it will be ready next week!
Huge master suite w/walk-in closet
Kid’s bathroom
When we made the decision to join with Compass, it was the future of the business that was a primary concern. The I-news summed it up well in their profile of Nick Segal, the founder of one of the SF brokerages recently purchased, and we could relate to what he said:
“The independent brokerage is going to face a very, very difficult time in the next three to four years. They don’t have enough money to invest in the growth of the business, their key people are going to start to realize they need to sacrifice the relationship with the brokerage (and go to a bigger firm),” Segal said.
“In order to take our agents to the next level we needed more tools, tech and a greater reach. We had to align ourselves with a bigger player, that was the mindset. Selling our baby was emotional but we knew it was best for the company and for individuals who were facing stiffer competition.”
In the beginning, Donna worked for Proctor & Gamble, one of the best-run corporate-sales teams ever. She appreciates the benefits of working within a structured environment, and with staff who provide meaningful support.
We want to be supported in being on the forefront of the tech revolution in real estate.
People complain that Compass isn’t really a ‘tech’ company, but all we need is a platform where all of the latest technologies are packaged up and linked together – and that’s what Compass is doing for agents.
Donna had these thoughts on the decision:
Our industry and the world is so dependent on tech – it doesn’t replace the importance of the agent/person and our relationships – but it is critical to our success. Having access to the best technology available is something that Jim and I both valued and knew that to have it – it would mean paying for it or working for a brokerage that offered it to its brokers/agents. Finding the best tech platform was a factor.
In the two short months here, Compass has rolled out more tools and technology to assist us than I ever thought possible, and the staff (which is significant) is 100% committed to making the lives of agents better.
We have staff dedicated to design/marketing, product education, agent operations, concierge, IT, etc. – all full time staff employees who’s job is to assist, help, support, and do what they can – so we can go do what we do – sell houses. It’s impressive the commitment Compass has to supporting agents. You will hear the CEO say, ‘agent-centric company’, and so far it is very true.
The decision wasn’t an easy one for us to go work for someone else – but as we made the choice – it felt right, and it still does.
The disruptors/discounters in our industry is another reason. It’s easy for the consumer to assume that small brokerages must discount their service and fee to compete. We wanted to align ourselves with a company that was all about being a full-serviced brokerage which is what we’ve always been – we do a lot for our clients. Compass is all about being a full-service company and is saying this loud and clear publicly – we want to be on that side of the equation.
Last and not least, as we considered companies to work with, we noticed who Compass has hired in San Diego County and we were honestly impressed with the list of agents in our area – top notch listing agents with great reputations. We also heard that they were not taking everyone; they were vetting their prospective agents carefully; and were committed to maintaining the culture of their company. This is something that mattered to us. Jim started Klinge Realty after being frustrated with some of the agents we worked with and not being proud of their business practices and ethics.
Mentioned yesterday in our meeting was the likelihood of Amazon getting into the real-estate selling business. It’s the only major industry that they aren’t involved with, and it seems inevitable that they will be a player some day. No one is sure yet how they will participate, but it’s coming.
The Great Real Estate Consolidation is upon us, and the landscape will look very different in the next 2-3 years. Small and medium brokerages are finding it difficult to keep up, and their agents are leaving for greener pastures. We are glad to have made the move early on, and appreciate what has been a great system and group so far!
Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!
Jim Klinge
Cell/Text: (858) 997-3801
klingerealty@gmail.com
701 Palomar Airport Road, Suite 300
Carlsbad, CA 92011
