What could improve the market?
More well-priced product for sale, and more transparency:
22 Comments
Jim Klinge
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
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Trustindex verifies that the original source of the review is Google. We sold a home with Jim and Donna and from beginning to end they were consummate professionals. Their initial walk through the property resulted in a list of items to be repaired or updated. They supplied a list of vendors and job quotes to do the repairs and updates. We originally wanted to sell ‘as is’ and just get it over with. They gave us a selling price for ‘as is’ and options for doing a few updates/repairs to doing it all with the selling price for each option. We agreed to do all they suggested and we sold for the exact price they predicted. For every dollar spent we got back more than $2 back in the selling price. And they got that price in a rising interest rate environment! Donna and Jim are extremely detailed and guide you through ever aspect of the sale. There were no surprises thanks to their guidance. We couldn’t be more pleased with their representation. Thank you Donna and Jim, Jerry and MaryTrustindex verifies that the original source of the review is Google. We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years. Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community. In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.Trustindex verifies that the original source of the review is Google. WeI had the pleasure of working with Klinge Realty Group to sell our home in Carmel Valley, and I cannot recommend them highly enough! Jim and Donna demonstrated exceptional professionalism, offering expert guidance on market conditions and pricing strategy, which resulted in a quick and successful sale. Communication was prompt and we were well-informed throughout the entire process. For anyone looking for a dedicated and knowledgeable real estate team, look no further! ---Trustindex verifies that the original source of the review is Google. Donna and Jim Klinge of Klinge Realty Group have our highest possible recommendation. From Donna and Jim’s first visit to our house through closing their advice and counsel was candid and honest in all dealings. They kept us fully informed throughout the process. The house sold less than three days after listing with a two-week closing. My wife and I have sold several houses during our lives. This was by far the best experience. Klinge Reality is a premium service realtor. You can’t make a better choice for someone to sell your home fast and for top dollar.Trustindex verifies that the original source of the review is Google. Donna and Jim provided exceptional support and professionalism throughout the entire process. We couldn't have been happier with their efforts. They made our house shine, and thanks to their expertise, it sold above the listing price in the very first weekend! Truly a fantastic experience from start to finish.Trustindex verifies that the original source of the review is Google. This year has been difficult on our family, mainly due to having to sell our home. Thankfully we knew God had a plan for us and working with the Klinge team was a key part of it. It was an obvious decision to work with them again after such an amazing experience when purchasing the same home we needed to sell. The challenge was, how will we do this in so little time with so much going on? Jim and Donna held our hand every step of the way. Whenever an unexpected issue arose they found and provided a solution. Never once did we feel pressured to make a decision and the Klinges were always reassuring after providing the information that the decision was ours to make. Despite the curve balls, they never panicked and exemplified the “can do” attitude, making us feel optimistic and taken care of. Their expertise and professionalism was superb. But of all the reasons to work with the Klinges, the most impactful and valuable is their compassion and genuine care for their clients. We pray that we can one day purchase our forever home and you better believe that Jim and Donna will be representing us - as long as they will have us of course. Thank you again Klinge team! Your execution, experience, and care are unmatched.Trustindex verifies that the original source of the review is Google. Jim and Donna were fantastic! Jim understanding my needs, recommending potential places, pointing out the pros and cons of each property was invaluable. Then when the offer was accepted Donna’s organized guidance through the inspections, paperwork etc made the whole process seem effortless. So grateful that I had them on my side!Trustindex verifies that the original source of the review is Google. We first found Jim through his blog at bubbleinfo.com, which really showcased his knowledge of SoCal real estate. Since then we've done three transactions with Jim and Donna, and they are an incredible full service agency, with Jim's deep market insight and Donna's deft contract and project management. We trust them implicitly in their analysis and strategy, which is based on years of experience. They're always available and on top of things, and we strongly recommend them to anyone.Trustindex verifies that the original source of the review is Google. The Good The Klinge Realty Group operates like a finely tuned machine, with a very personal touch. We contacted them on a Sunday and they were talking to us about our family and our needs on our living room couch the following day. They carefully listened to us and worked with us to identify the best and quickest path to listing within 2 weeks to take advantage of the low inventory conditions in our South Carlsbad neighborhood. They knew our tract specifically and had many previous sales there over the years - they came prepared with a thorough analysis of comparative sales and recommended a pricing strategy that they felt confident would yield offers the first weekend on the market. The Great Over the next two weeks Donna coordinated a range of vendors who she knew from experience could get the preparation to list work we needed done on time and with high quality. Our light tune-up involved excellent experiences with their stagers, landscapers, contractors, electricians, and plumbers. Throughout this period Donna's daily communication was clear, concise, and responsive. Any time we had questions Donna picked up the phone or texted immediately - but almost always, she answered our questions before we even knew we had them. The Outstanding We had a tricky situation with a shared fence that could have delayed our escrow. Donna used superb mediation skills to negotiate the terms of replacement and was personally on site with the fence contractor to make sure everything went smoothly. The fence looks great and escrow closed on time. The Truly Exceptional Our house came on the market on a Wednesday and between then and Monday morning Jim was personally at all three open houses. He was in constant communication explaining potential buyer reaction and strength. As he predicted offers began to come in on Saturday and each one was incrementally higher than the last. At the end we had 5 offers, 4 of which were over list, and the final accepted offer was $100,000 over list. In addition to being over list it included rent back terms that met our needs. The Recommendation For all of these reasons we would strongly recommend The Klinge Team to anyone wanting to sell in North County Coastal San Diego. I had been reading Jim's bubbleinfo.com blog for 15 years and knew when the time came to sell that he would be our first call. Jim Klinge is not your standard realtor. He is keenly aware of market conditions and sales strategies. And, works his tail off - though not as hard as Donna . At this point he's gone from realtor to friend and I plan to have him over to grill and chill at our new place to talk real estate, but also just about life and raising kids in San Diego. He's more interested in relationships than his sales numbers - and that's why his sales numbers are so high. We have already recommended the Klinge's to some close friends and another successful sale is on deck right around the corner...Trustindex verifies that the original source of the review is Google. We recently had the pleasure of working with Jim and Donna from Klinge Realty Group to sell our house, and we couldn't be more satisfied with the experience. From the initial meeting, they listened attentively to our needs and provided invaluable guidance on specific improvements to get our home market ready. Their responsiveness throughout the entire process was truly impressive. Anytime we had questions or concerns, they were quick to address them, ensuring we felt comfortable and informed every step of the way. What stood out the most was their team and extensive network of tradespeople, which made addressing any necessary repairs or updates seamless and stress-free. Thanks to their expertise and dedication, our house sold quickly and at a great price. We highly recommend Jim and Donna to anyone looking to buy or sell a home. They are a fantastic team who truly care about their clients and deliver exceptional results.Load more
I’m sure the dinosaurs thought they would never go extinct too.
Hi Jim,
What incentives do listing agents have to sandbag their own listings by not including good photos? I see it all the time, but I thought it was just laziness or incompetence.
I like all the suggestions. What amazes me is the continued reluctance of the RE industry to modernization. Just like the record companies thought, they seem to think if they drag their feet long enough this whole internet/video/real time information thingy will go away.
And we all know how that turned out for the record companies. Right now, control of distribution is the only way industries are holding on outdated business models. The titans of RE can keep trying to hang on to their distribution of information lock, but they will lose in the long run because the demand on the customer end (aka buyers) will force solutions in the marketplace and the existing dinosaurs aren’t going to like the solutions. Just like the record companies didn’t like their solutions either.
If you don’t get out in front of technology, technology will run your ass over.
Matt, the incentive might be that they have a buyer already on the line so they can collect on both sides of the deal. They are just putting up pictures because they have to.
You either want to sell something or you don’t. If you want to sell it, you get out there are show it off in the best light possible to get it moving.
Could be incompetence as well, there seems to be a lot of that going around.
Jim,
You are so far ahead of your fellow realtors and the real estate business in general. If today, all real estate agents had to have your qualifications, 99% of today’s agents would be gone.
Years ago, the first house my wife and I bought was sold to us by an agent like Jim. His name was Randy. We thought Randy was the norm (we were young and naive). Our careers took off and after several moves around the country, we quickly found out that Jim and Randy are endangered species in the real estate business.
As I’ve said before, a nightmare real estate agent in Northern California is what brought my lawyer and I out there to rescue my daughter from her clutches.
And what is about trying to steer a client to properties not meeting their criteria? You say you want a large lot and they take you to a development where the houses are just stacked up on one another. Waste of my time and thiers.
Anyone heard WellsFargo start to implement new Fannie Mae LTV Requirement: now best rate can be obtained only with 25% down payment. Those with 20% will incur 0.25pt cost or 0.125% hike in rate?
I’m sure the dinosaurs thought they would never go extinct too.
I can live with realtors going extinct – I’d like to expedite!
I want to be the only one left.
I am going to start my own real estate auction TV show, and live-stream it on the internet.
The houses will be open to the public for viewing the two weekends before the show. The sellers will pay for a house inspection, and copies will be available to all, and if you want to conduct your own inspection, feel free – they’ll be open 9-5.
We’ll have one of my video tours of the houses playing during the two weeks for the out-of-towners. I have already sold a couple of homes to buyers sight-unseen, thanks to the videos.
To bid, a $5,000 deposit is required that is non-refundable if you are the winning bidder.
During the live intro to the property, I’ll cover the important facts about the house and area, and take questions from the crowd.
No reserve prices. If you like the house, you can buy it that night if you’re the highest bidder.
Shows will be once a week, and work up to nightly, and include houses statewide eventually. If it catches on, it could go nationwide.
What are the keys?
1. The auctioneer (me) is a credible source, can talk intelligently about the house, the market, field questions effectively, and generally make buyers feel comfortable with the process. Hopefully I can develop a personality before it starts.
2. Full transparency – what you see is what you get. Properties sold as-is, have your bid reflect the current value to you. The competing bids will be on screen, so you know what you’re up against.
3. The no-reserve pricing is the key that’ll bring the buyers. Occasionally homes will be given away, other times they’ll sell for retail or retail-plus. It’ll have a game-show feel to it. I will watch reruns of the Gong Show for tips.
4. Being able to weed out shills. If a shill wins and backs out, they lose the deposit and the property is black-listed from the show. Shills can run up the price in any selling format, so the risk will always be present. Just set the price you’re willing to pay in your mind and don’t go above it.
5. No buyer premium tacked on to the winning bid. Seller and buyers pay their customary closing costs for title, escrow and lender fees, and seller pays my fee.
6. If the buyer wants representation, then they can pay their agent a fee that they negotiate in advance. It would force agents to provide valuable assistance, or go home.
If I can get some banks and servicers on board, look out.
Did you know that REDC paid $1.7 million for auction.com?
They are making a run, but the reserve prices are a turn off, especially if they don’t sell many properties in the next 1-2 months. I am watching them very closely though, their SD auction at the end of the month will be very telling.
Gotta have reserve prices or sellers will fear that bidders will collude and keep prices artificially low. Or if not collusion then force. Seen it in westerns a million times! I’d never allow my place to sell that way and I’m a free markets guy!
JTR, are you doing any business in Fallbrook?
http://www.sdlookup.com/MLS-100059594-3969_Keri_Way_Fallbrook_CA_92028
This house in Brook Hills seemed like a give away. There is some nice stuff up in Fallbrook and Bonsall going cheap these days.
Seen it in westerns a million times!
OK, OK, I’ll take all the risk and guarantee you X price.
I get everything above X, right?
JTR, good to see you consider shills but IMO $5K is not much of a deterrent. I would consider %10. And how would a shill back out?
Uh,sorry … actually I was equating Dinosaurs with local regional MLS boards and realtor’s organizations, not the real estate agent. There is always place for an agent relationship (the price, I think will change, but it should stay intact for such an expensive, complex product)
I know a number of bloggers who constantly predict doom for realtors, but they’re conflating their disdain of paying 6% with the actions of an agent. There is value there, just not 6% of each and every transaction (especially in the place of tract housing which is common in Cali)
Chuck
@ positive: I’m a loan officer for a community bank in Portland, and the loan-level pricing adjustments (“bumps” to the fees for FICOs/LTV) have been around for the last several years. 2011 did indeed bring a .25 pt. bump to the fees, even with the highest FICOs, for a 75.01-80% LTV. FNMA is charging it, so that’s filtering down to the lenders offering FNMA loans.
Lou,
I agree, and maybe $10,000 to $25,000 depending on the property?
Shill or otherwise, there will be times that the winning bidder doesn’t close and they should pay damages, because the second time through the auction the fever won’t be nearly as hot.
Nobody has commented on me getting the extra dough above the guaranteed price.
In effect it would be a net listing, which is legit and can be done today.
I promise you X net price and I pay closing costs and keep whatever is leftover for my commission. But I’ve never found anyone willing to try it.
JtR… Sure, I’d be open to that. After all, if I like that price, shouldn’t I be happy with that? Of course, if you are lowballing then boo. And you’d be under a lot of scrutiny with likely accusations of “stealing” homes from the unknowing. I could see a split scheme being optimal. Something like a given minimum + 50% of the upside to the owner. You should still love that. The risks of messing with the fixed min are the same, just lessened because of the upside. I tried to get my agent in NorCal to base her commish on something like this but she laughed. Coward!
There are other risks as well if non-auction. You could tank a listing and scoop it for the min. Then sell later. Or you could use super-risky negotiating methods that pay off huge once in awhile but blow up and hurt the seller most of the time. All that is fixed if you have a high enough min price to pay so it hurts if you eff it up.
Seller should be able to buy insurance that pays the difference between 90% of the estimated value and the sales price. That way the seller is protected from downside with the opportunity for upside while the insurance company can average losses with wins.
Buyers are happy without reserves and sellers are limiting their risk.
Yes, there has to be a way to make sellers happy – maybe a few options with varying risks/rewards for the sellers to choose from?
so it hurts if you eff it up
This is why your agent would laugh at the thought – they are so used to screwing up that they have no confidence in their own abilities.
But they don’t fully recognize that it’s their screw up, they think it just the “unpredictable” market doing it to them.
I don’t have that concern myself.
SD’s MLS system and rules are a joke. The current TEMPO (5) is the worst. The old version 3 was at least enjoyable. LA and OC have far superior systems and UIs that are at least useable. Hopefully with CARETS this becomes less of an issue. And the requirement that one has to use IE is pure laziness and a complete lack of foresight from the programers to the designers. At least there are virtual machine’s for Mac people. Overall, there is no excuse for such incompetence.
For me and my clients, we use Redfin about 95% of the time. Their site and phone apps are great. If there was a way to get to the public record, private remarks, and/or past listings, we could do away with all MLS’s. Their hold are strong but slowly it will change…
Jim keep up the good work. Among the 1% of good agents out there, you shine bright.
RE auctions are the norm in Australia and in South Africa there are no buyers agents, just sellers agents (caveat emptor or vootstoots in roman diutch law). Though there is almost always an advertised floor or reserve price in Australia.
Perhaps your role in the US RE business is that of advisor (buyers agent) who because he sees hundreds of houses a year knows all the pitfalls and traps that can spring up as well as all the types of structurall and market gotchas that can fool someone who maybe buys only 4 houses in a lifetime. A bit like why when I buy a used car there is ALWAYS 100 000 miles left in it but other people buy lemons (I see a LOT of cars and fix my own). I own 6 residences, fix them myself and know what to look for, from reading your blog you seem to be the type of chap who knows what to look for in a house so your advice to the smarter prospective buyer should be valuable to a client if he is not a builder or RE expert.