Finding the right expert for the job at hand.
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The personal stories of one Realtor’s battles and triumphs in the highly-competitive Bay Area Real Estate Market, seeking to illuminate and humanize the very real ups-and-downs of homeownership.
“I need a rental. Can you help?”
At the risk of disappointing you, probably not.
Although renting or selling are both housing issues, they are, in fact, two very different animals. As listing Agents, Sarah and I are trained to write contracts, to prepare and market homes, and to negotiate offers (among many other things). As such, we’ve spent more than forty combined years honing our craft, which is why when it comes to helping Buyers or Sellers, BUY OR SELL, we know what we’re doing. In short, WE’VE HAD A LOT OF PRACTICE.
That’s not necessarily the case with rentals. The question of rentals comes up rarely and when it does, it’s often under difficult or rushed circumstances. And while I’ll concede that rentals definitely fall within the category of “home,” navigating the world of rentals carries far different challenges –and risks — that frankly, I’d rather avoid.
“My son is starting a job and needs an affordable apartment immediately.”
“Unfortunately, we’re separating and I need to find a different place to live.”
“My mom needs to downsize. Her place is too large and unmanageable.”
“I don’t like my current rental, or my unresponsive landlord.”
To quote Scooby Doo: “Ruh Ro.”
Don’t get me wrong, problem solving is part-and-parcel of any good Agent’s job, but often, that includes directing you to the most appropriate person to help find the correct answers. As Realtors, I’ve sat in on several hundred inspections, and yet I would never assume to be an expert on the foundation, roof, plumbing, heating, or electrical components of a house. That’s simply not my educational domain.
While Realtors can be conduits regarding potential rental units — and it makes perfect sense that you would ask — I firmly believe you are better served on either end of the rental equation, working with specialized Rental Agents that not only vet perspective tenants, but can manage the property as well. This is especially important when it comes to cities that strictly enforce rent control, which include Oakland and Berkeley.
Moreover, renting a property comes with significant responsibilities and financial exposure. Whether you are a landlord managing an investment or a tenant looking for a secure home, understanding the primary risks are essential to protecting your assets, peace of mind, and long-term financial health. For example, rent increases which are frozen at .08% annually; must be served with a copy of your business license, or the increase is unenforceable.
The lack of experience and knowledge doesn’t stop eager Agents from representing lease opportunities, but it does stop me. While most of us will be renters at one time or another, it’s not the world I work in day in and day out. Ditto for unincorporated areas, vacant lots, wineries, vacation properties, and unfamiliar neighborhoods outside my areas of expertise. I sell what I know, and I purposefully avoid what I don’t.
The best advice came years ago from a form risk manager at COMPASS who said that if he needed hand surgery, he wouldn’t go to his neurologist to deal with the issue; he’d seek out a plastic surgeon that specializes in hands, and visa versa. You wouldn’t expect a hand surgeon to understand the brain. (Makes total sense.)
So, if you need to buy or sell your home, we’d love to help. If we hear of anything for rent, of course, we will pass it along. If you’d like a second set of eyes on the unit, we’re happy to oblige, but if you’re looking for our help to find and rent property, we’re probably going to refer you to a Bay Area specialist who knows the lay of the land far better than we do.
From what I understand, the rental market is every bit as competitive as the housing market. If that’s indeed, the case, you want to give yourself the best advantage, and that means finding someone who specializes in income properties; someone who may know of opportunities that will never show up on our radar, and someone who can help you negotiate a favorable lease.
In other words, if Sarah and I refer you to a colleague, understand that it’s in YOUR best interest. (Help comes in many different forms.)
How can we help you?
Julie Gardner & Sarah Abel | Compass Realty
Not just Realtors, but consultants in all things house and home, we’re here to educate, explore, examine and refer . . . In short, you may count on us to take care of your home as if it were our own and anyone who knows us, knows we take pretty darn good care of our homes.
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