Here’s How Top Real Estate Brokers Are Closing Deals in California’s Hot Markets
Here’s how the best real estate brokers are closing deals in California’s hot markets. In these days of multiple bids and fierce bidding wars, the reality of getting a transaction across the finish line is more than difficult. Here, two of the top brokers in the highly competitive San Francisco and Napa Valley markets share their insights.
Nina Hatvany of Compass in San Francisco has over 30 years of real estate experience. Hatvany has represented clients in over $3.5 billion in business transactions. From 2008 to 2015 and again in 2017, 2018, and 2020, she was ranked the top individual agent in San Francisco.
Hillary Ryan of the Napa Valley Compass office is dedicated to helping clients negotiate wine properties, including residential, wine and land development opportunities. Ryan has closed high-value real estate since beginning her career in 1997. In 2015, she was recognized as one of the Top 100 Real Estate Professionals in the United States by REAL Trends. In 2017 and 2018, she was again named in the Top 200.
PE: What are your biggest challenges in today’s market?
TIME: Our offer is limited, but successful buyers are also willing to submit offers with very competitive terms – such as all cash, limited contingencies and on time for owners to coordinate their move.
NH: Stay on top of all emails, texts and voicemails and be as responsive and quick to seize opportunities as clients expect of me. It is particularly difficult to keep up to date with new inventory as we are not yet permitted to arrange broker visits, so it is difficult to get an idea of properties when they hit the market. Without having a good idea, especially if the photos are not complete or if the property has faults that may not be apparent from the advertisement, it is difficult to ensure that all my clients are kept informed of the news announcements, especially if they are slightly outside. their specified criteria. Often these days it is clients who bring my attention to a property that looks good today rather than the other way around.
PE: How do you track referrals, closures, and collaboration with buyers and sellers in today’s market?
TIME: It’s a challenge, but the team’s support combined with current practices keeps us on track. For example, I have long-term relationships with many strong agents in the markets with buyers looking for second homes in Napa Valley. I carefully take note of the parameters of the potential client and share them with my team. We stay in close contact with the client and the referring agent throughout the process.
NH: My first rule is that I have to stay physically fit when the market is like this. Daily exercise is key, along with quiet time and a regular bedtime (even if I wake up in the night and have to write down a whole list of urgent “to-do’s”). In accordance with this, my second rule is to write down or text me every fleeting thought. It is very difficult to concentrate with dozens of thoughts racing through your head. Writing them down allows me to go through them methodically when I’m at my desk. And the third rule is to keep a positive attitude – after all, all this work should allow me to make a great income doing what I love – and if the workload is a little crazy, I tell myself to do some hay as long as the sun is shining.
PE: In your long career, have you ever seen a market approaching the frenzy of the current one.
TIME: I have worked in real estate since 1997. It is clear that real estate moves in an obvious and somewhat predictable cycle; however, there are times when the market changes very quickly. Last year the market changed dramatically – it was slow in April and then moved at breakneck speed. The holidays brought a brief respite, but it’s busy again. With the passage of Proposition 19, I know that families are making decisions based on tax treatment, which will change the market again.
NH: Yes, 2000-01, 2007 and 2015-16 were all crazy years in San Francisco. And in general, we never have enough inventory of single-family homes, so we’re always on our toes here.
EP: What advice do you have for buyers who become frustrated as they keep bidding and find that they outbid each time?
TIME: You just keep trying and don’t take a missed opportunity as a personal affront. It’s best to listen to your real estate agent; you hired him to be your trusted advisor. Every deal has its own nuances, and an experienced agent will know who to best position their client with to win the deal.
NH: My advice is to stay focused and positive. Your turn will come. Meanwhile, buyers must learn from each failed offer. Buyers who learn to adjust their price expectations, qualify, coordinate their offers more quickly and refine their decision criteria are the ones who will succeed. Also, use a truly experienced agent with a wide network and excellent reputation so that you are really putting your agent’s skills to work in locating a property.