money for nothing

October 10, 2007

facade.jpgwhen i began this blog i initially planned on focusing a large percentage of my time on discussing real estate.  i am,  after all, a realtor who has worked in the san francisco market,  most recently with one of the ‘top’ top producers in the city.  this guy specializes in tenancy-in-commons (TICs) and seems to consistently have two to three listings at all times,  with atleast one of those being a multi-unit building.  his gross income per year is somewhere north of $800,000.  

i mention his income simply to illustrate how lucrative selling homes in the city of san francisco can be.  he hustles,  for sure,  and his english accent makes him sound much more suave and debonair than he could ever hope to be.  he is eternally late,  has the handshake of an elderly lady, or a dead fish (i can’t decide which is more accurate,) has an intangible ’slimy’ quality,  bad breath,  and very strange facial hair patterns.  he surely personifies the values of persistence and determination for these can be the only plausible explanations for his level of success. 

i think you may be able to sense some of the dissatisfaction i felt while working in that relationship.  it was invaluable in the sense that i have officially decided that the profession of realtor,  atleast in a city like san francisco,  is an over-paid,  one-step from car salesman, kind of job.  i would routinely be embarrassed by the ineptitude of my colleagues as well as by the sleaziness of my mentor.  i had initially held steadfast to the notion that i was providing a valuable service but this quickly dissipated into the feeling that there needs to be a better way for the consumer and that the real estate agent will surely go the way of the travel agent,  and before that,  the dinosaur.

the only reason i even became a realtor is to learn the business on my way to securing my broker’s license.  why am i getting my broker’s license?  so that i may buy and sell real estate without having to pay commissions.  obviously,  i wasn’t married to the concept of agents and commissions in the first place and my tenure in the biz did nothing but dissuade me even further from thinking this role was at all worthy of its incorporation into the current business model.  i must admit that there are,  at times,  complicated legal issues involved in a transaction and this is why i would recommend the services of a lawyer.  tax issues?  ask an accountant.  structural issues?  ask a contractor.  there is a sea of disclosures through which one must swim when selling or buying a home.  any semi-lucid,  half-way intelligent person who understands the english language should be capable of reading and comprehending them.  in order to save the 5% commission,  i would certainly give it a shot.  i stand by the statement that the majority of agents have absolutely no idea what they are talking about and if they are one of the few who do,  they have very little, if any, insight beyond that of a well-informed layman (open access to mls data would create a completely level playing field.)

is the citrino a lemon?

August 21, 2007

i have an affinity for modern architecture.  i am a member of the sf historical society.  oh,  the inner turmoil…

i have aspirations to spearhead some development in the, hopefully, not too distant future and i am always amazed when i see a new condominium project going up with the same old staid bay windows and edwardian 2007 facade.  don’t get me wrong, i have a very soft, very large,  spot in my heart for the edwardian-era building and i suppose it would be great to use as a prototype,  but only if it means including the cavernous rooms,  extensive hardwood flooring, and moldings.  throw in one of those circular corner bay windows and we’re getting warmer.  oops, its cold again… 

 i understand wanting to retain the ‘integrity’ of a neighborhood in terms of keeping its architectural theme consistent but i feel often this is used as the scapegoat for people with no gumption to push the envelope.  the citrino,  at 566 south van ness ave. is the perfect example of such a project.  sure they have their lemon grove in the common area with artificial turf in lieu of grass.  they have their bertazzoni stoves,  their ceasarstone,  their scavolini kitchens (which by the way is italian for ‘these are really just ikea cabinets with some italian panache…)’  

believe me when i say that,  in the memory of my great-grandfather luigi,  i’m all for italian panache,  but come on already.  the fact of the matter is that the bedrooms are as big as closets,  the units fronting south van ness look out onto a prostitute and crackhead playground/gas station and most importantly the citrino  falls victim to possessing one of the most uninspiring facades on a building ever.