This post is part of the SFhotlist Client Success Story Series. San Francisco real estate is always dynamic, but no matter what the local market looks like, we deliver results. Let us know what you think!
The Clients.
Chelsea and Dave (names changed to protect privacy) are a young professional couple who were in the process of relocating from the East Coast to San Francisco for HER dream job. Both Chelsea and Dave wanted to live in SF, so it was a dream come true and a great opportunity.
Chelsea and Dave were not first time home buyers. In fact they had already bought and fixed up a much-loved first home in a highly desirable New York City neighborhood.
When I met them, they were living in corporate housing paid for by Chelsea’s company, and both were excited about moving to a community with a neighborhood vibe that was walkable, yet still somewhat central. The couple had also set their sights on a single family home, preferably a fixer they could make their own.
The Challenge.
Although they were relocating from a hot market before and they thought they understood how to deal with multiple bids and competition, San Francisco real estate prices, competition, low inventory, and lack of options caused them a real awakening.
As Chelsea told me later, “Dave joked that we thought our East Coast neighborhood was hot, but San Francisco was scorching.”
Like all San Francisco buyers, Chelsea and Dave had to face up to San Francisco real estate realities, but they had an initial challenge: they were on a deadline. Their corporate housing lease was running out in just under three weeks.
The Fix.
We used our experience and industry connections to very quickly educate them about our real estate realities and quickly find options where, on the surface, there were none.
The first thing we did was take time up front to sit down with them. I told Chelsea, and I’ll admit she wasn’t very happy with it, “Slow down. You can see property right away, but you’ll find it hugely beneficial to sit down with our team and look at your budget and the neighborhoods you love -- especially since you are new to San Francisco real estate.”
Chelsea didn’t like what she was hearing but she said, “I really appreciate your honesty and directness and we can see you have the chops to help make this happen for us.”
Our team has enough experience to be able to quickly understand each client’s situation and how they fit into the San Francisco real estate market. Our clients are writing one or two offers instead of the stories you’re hearing about four plus offers. We’re happy to say that over 90% of our clients get their number one property and the rest get their second or third choice. Chelsea and Dave were not an exception.
The second thing we did was convince them to up their budget to accommodate the San Francisco real estate market, which can be uncomfortable. They ended up really trusting us, especially after they saw for themselves that what I had told them about pricing was true, so they agreed to a higher budget than they had originally wanted.
The Results.
It wasn’t hard to identify a property Chelsea and Dave loved. Having found an excellent property in a neighborhood with the community feel they wanted, I used my intuition and, having carefully interviewed the listing agent, we decided not wait for the offer date.
Because of my experience with both buyers and sellers, I understood making an offer before the offer date would work in this specific case. It’s not always the case, but this time it did work. Our team is aggressive and assertively pursues opportunities. Our nuanced understanding of real estate market conditions allows us to create and uncover opportunities other agents might not find.
Because of these special circumstances, we came in under budget. Chelsea and Dave got a wonderful Bernal Heights single family home with a beautifully secluded front garden, garage, and plenty of character, including a charming glassed-in front porch.
Chelsea told me she was thrilled to have landed on this particular property after what felt like so many arduous ups and downs. And, given the time constraints, Chelsea and Dave were more than pleased that we were able to find them a perfect fit in the nick of time.
If this story sounds like you or someone you know, reach out. We’d be happy to work our magic on you, too.
-DL
