homesmillbrae.com

GeographicFarm launched GeoFarm Digital Enterprise, which offers GeographicFarm’s ad-optimization services to large-scale real estate operations. “We know that localized messaging and multivariate testing are the key to crafting Facebook ads that get results, but it’s always been a logistical nightmare for large-scale real estate operations to create and test limitless numbers of customized, hyper-local ads for hundreds or even thousands of agents in multiple locations in both the U.S. and Canada,” says Jeff Campbell, GeographicFarm CEO, in a statement. “We have the expertise and the technology to optimize geo-targeted Facebook campaigns for even the largest enterprise operations.”

United Real Estate Group has inked a deal with international real estate website Juwai.com to market listings from its network. “First and foremost this will be good for the homeowners who rely on us to help sell their real estate,” said Dan Duffy, CEO of United Real Estate, in a statement. “Chinese buyers are so much more important in most of our markets today than they were just a few years ago. We expect their role to be even greater again by 2020.”

Homespotter and SentriLock announced a new partnership that offers Homespotter listing details via a home’s lockbox. “Agents will no longer need to fumble between multiple applications when first entering a home,” Aaron Kardell, CEO of HomeSpotter, said in a statement. “HomeSpotter is there right when they need it, ready with quick access to the agent only listing details.”

November 2

Imprev announced a re-architecture of its Listing Automation product’s services, which the company says will allow brokerages working with listing syndicators to add advanced automation. “Until now, marketing automation services for marketing property listings have been largely limited to only the biggest brands in real estate,” said Bill Yaman, president and chief revenue officer of Imprev, in a statement. “By integrating with listing syndicators, more brokerages than ever can get immediate access to Listing Automation services to drive their expansion, deliver brand image consistency, and attract successful agents.”

The countries of Norway and Saint Vincent and the Grenadines have joined the Re/Max network with an acquisition of Re/Max Norway franchise rights and establishing rights in Saint Vincent and the Grenadines.

HomeSmart International announced that it has added 23 franchises year-to-date, including expanding into two new states. The newest HomeSmart franchises include locations in Arizona (Casa Grande, Chandler, Chino Valley, Show Low), California (Glendale, Rancho Bernardo, Salinas, San Bernadino, San Francisco), Florida (Orlando), Illinois (Chicago, Naperville), Indiana (Carmel, Speedway) and Nevada (Las Vegas). “Our growth is indicative of trends in the industry,” said Matt Widdows, founder and chief executive officer, in a statement. “Brokers are tired of the same old model where they’re either overpaying for lackluster services or are left out on their own to come up with solutions and technologies. That’s where HomeSmart is different and people are taking notice.”

November 3

Stirling Peak Properties in Aspen, Colorado, has joined Douglas Elliman Real Estate. “With the addition of Stirling Peak Properties, Douglas Elliman will be gaining a great book of business along with deep connections to the community, through which we can better represent the entire Aspen market. Not only that, but we will be joined by a team well-respected for their high level of integrity, professionalism and experience,” said Ed Foran, managing broker of Douglas Elliman’s Aspen market, in a statement.

JLL announced that it’s a founding industry partner of the Massachusetts Institute of Technology (MIT) Center for Real Estate’s new Real Estate Innovation Lab. “This synergistic partnership brings together two leading real estate organizations that share a passion for innovation,” said Ben Breslau, JLL’s managing director of research, in a statement. “We look forward to engaging with the brilliant minds at MIT to support future research and collaborate to create a better future.”

Compass opened a Cobble Hill office in Brooklyn. “With our new presence in Cobble Hill, Compass will further support the needs of our growing Brooklyn agent family and expand services for our clients,” said Patrick Brennan, sales manager of Compass’ Cobble Hill, Williamsburg, and Park Slope locations.

Re/Max LLC agreed to purchase the master franchise for the state of New Jersey from Re/Max of New Jersey, Inc. “I’m grateful for Joe [Ventresca] and Jeff [Snyder]’s contributions in building the brand and making RE/MAX the preeminent real estate franchise in New Jersey,” said Dave Liniger, CEO, chairman of the board and co-founder of Re/Max, LLC, in a statement. “We’re excited to continue growing these offices with our broker/owners by recruiting the most experienced agents in the business, making Re/Max the no. 1 choice for buyers and sellers in the state.”

Realtor.com announced the addition of U.S. listings to realtor.com/international. “The expansion of realtor.com/international reflects the increasing demand for global property information and experiences across geographic boundaries, while helping make the process simpler, easier and more personalized for consumers and professionals alike,” said Eleonore Rojas, vice president, NAR partnerships and international at realtor.com. “We are constantly working to enhance our solutions to help connect people wherever they are with properties and with the professionals to help them through their home journey.”

The upcoming Thanksgiving holiday signals the time of year when real estate agents contemplate whether to renew their membership for the coming year, consider a change of brokers or possibly seek alternative sources of income.

The total number of agents practicing in Incline Village and Crystal Bay has risen dramatically in the post-recession era. There are now approximately 330 agents competing for business in a community that will see approximately 400 transactions in 2016. This makes our real estate market one of the most competitive anywhere in the United States.

During the past year the number and size of Incline Village real estate brokerage firms remained relatively static. RE/MAX North Lake tripled its office space and its agent count. But none of the big real estate firms expanded to new or larger offices, although some of them did take on a few more agents in their existing quarters.

With so much business being conducted on the Internet and agents able to work efficiently from a home office it’s no longer critical for the largest offices to keep expanding their square footage unless absolutely necessary.

At RE/MAX North Lake we leased additional space in order to provide a dedicated conference room along with office space to accommodate more agents as we continue to expand the business. The new quarters were extensively remodeled and provide a superb environment for agents, staff and clients.

Berkshire Hathaway opened a very nice office earlier in the year with Bill Hane at the helm as managing broker. Bill is one of the most well respected and experienced brokers in our community.

There are rumors that a couple of well-established real estate brokerages in the San Francisco Bay area are contemplating expanding their operations into the Nevada side of North Lake Tahoe. Whether they actually open up new offices or just have a couple of their agents acquire Nevada real estate licenses is yet to be determined.

The existing real estate pie is already divided into a number of pieces. So, any new players should be trying to increase the size of the pie instead of just taking a sliver and not providing any additional value to our local marketplace.

It is much easier for an agent in our market to switch brokerage firms between November and April than during the busy summer season. Due to the slower pace of activity, you can change brokers and rebrand yourself during the off-season with fewer disruptions to the flow of business.

Whether changing firms is beneficial depends on a number of factors and the goals of each agent. But every year several agents will change offices or on occasion even get a broker’s license and open their own office in the hopes of achieving better performance.

Agents who have enjoyed a stellar year will use the off season to contemplate the current commission arrangement they have with their broker and sometimes try to renegotiate more favorable terms.

It’s always a little bit of a cross between a tug ‘o war and a balancing act whenever agents and brokers sit down to discuss compensation packages. And since each broker is free to utilize whatever compensation structure they deem appropriate, it can often be a case of comparing apples and oranges when agents try to analyze offers from different firms and decide what course of action to take.

The property management and vacation rental firms in town have generally remained fairly stable in the past year with staff turnover holding at fairly normal levels. While market share ebbs and flows, no new major players have entered the game and all of the longtime firms are still standing.

This industry has undergone a revolution during the past decade with the advent of online booking and the proliferation of websites such as AirBnB and VRBO.com. The rental agencies that are still thriving are the ones who managed their businesses well after coming out of the recession and continue to work hard as they adapt to a changing industry.

Don Kanare and Sabrina Belleci are the owners of RE/MAX North Lake. Read their blog and find weekly stats on their website at http://www.InsideIncline.com.

Article source: http://www.sierrasun.com/real-estate/incline-village-real-estate-season-of-change-for-real-estate-agents/

The San Francisco City Attorney’s office is suing the developers of the Millennium Tower for failing to disclose that the building was sinking to buyers as early as 2009.

The city attorney’s office served subpoenas to the developer, Millennium Partners, in September seeking to learn whether the sinking problem had been disclosed to residents when sales began in 2009. Multiple owners have told NBC Bay Area they received no such notice.

Under California law, owners or developers are obligated to notify buyers of any problems or building defects and can be prosecuted under civil law for withholding the information.

City Attorney Dennis Herrera said at a press conference in San Francisco Thursday that the developers of the swanky high-rise at 301 Mission Street knew the building was sinking faster than expected, but didn’t disclose that information to buyers or residents.

“My office has a duty to protect all the taxpayers of San Francisco,” Herrera said. “We’re not going to sit by and let a developer or anyone else enrich themselves at the expense of others by hiding crucial information required by law.”

The city attorney’s office filed a cross complaint to an existing ligitation against Millenium Partners.

“The reason for the lawsuit is simple. The facts in this case are clear, but it does not make them any less disturbing,” Herrera said.

Herrera stressed that the developers knew for at least a year that the 58-story residential building was sinking and didn’t disclose that information. “Yet, they went ahead and sold condominiums for profit without telling the buyers about the situation even though they were legally required to disclose it,” he said.

Herrera continued: “Someone selling real estate must disclose details about known property conditions. The law is very clear on that.”

At the time many of the units went on the market, the city was told the building had sunk 8.3 inches, as of February 2009. But the city didn’t alert the owners. The city has said that it is the responsibility of the developers to inform the owners.

Condo owner Jerry Dodson said he would have “never” bought a home in Millennium Tower, if he had known the truth about its condition. 

Having been kept in the dark about the building sinking and tilting, he told NBC Bay Area that he is glad to see the city taking legal action against the developer. 

“I was told this was the safest building on the West Coast, that it had a state-of-the-art foundation,” Dodson said.

Fellow Millennium Tower homeowner Nina Agabian agreed. She says she is now living in constant fear. She loves her house and the view the building affords her, but never feels safe.

“It’s a situation that really makes us uncomfortable and nervous and sad on a daily basis,” she said. 

According to Herrera, it is the duty of the city attorney’s office to protect the city’s residents.

“This is every homeowner’s worse nightmare…This is obviously a very, very serious case,” Herrera said, but clarified that this is not a criminal case. “We do not see any evidence of criminal activity here, this is a civil action.”

Meanwhile, Millennium Partners’ leaders insist the publicly-funded Transbay Joint Powers Authority – the agency building the transit project next door – is to blame. In a statement issued Thursday, the developer said the lawsuit is nothing more than “an effort by the city of San Francisco to duck its responsibilities and avoid paying for the harm caused by TJPA.”

SF City Attorney sues developer of sinking Millennium Tower. Says developer knew bldg was sinking faster than planned didn’t disclose it pic.twitter.com/QOrheOEygE

— Jodi Hernandez (@JodiHernandezTV) November 3, 2016

#Breaking SF City attorney says his office has duty to protect SF residents.Announces lawsuit against developers of sinking Millennium Tower pic.twitter.com/MQTOjkRwRe

— Jodi Hernandez (@JodiHernandezTV) November 3, 2016

Article source: http://www.nbcbayarea.com/news/local/SF-City-Attorney-to-Sue-Developers-of-Sinking-Millennium-Tower--399861611.html