In the last month or so there has been several listings that have arrived on the local scene that are so agressively priced that the only word I can think of to describe them is bait. The interesting thing about these listings is that they are proving that there is indeed a bottom to the market as droves of people are looking at and responding too these places. I mentioned one a couple of weeks ago on E 40th that got 21 offers and was listed at $560,000. Last week another house came on the market at 636 Amesbury in the Sunnybrea neighborhood of San Mateo and was listed at $499,000. It’s a funky little 3 bedroom, 2 bath house that needed alot of work…but look at that kitchen! The seller appeared to have gotten about 3/4 through a remodel when they ran out of money. The house is a short sale. None of that mattered, when I went over to show the house you would have thought they were giving money away at that location. It was a mob! Hilarious! Even as a short sale I hear they got at least 10 offers on Sunday when they reviewed them.

Right now there’s another one of these gems in Foster City at 813 Peary in Winston Village listed for $499,000. It’s a 3 bedroom, 1.5 bath townhouse priced about the same as the 2 bedroom condos at Marina Point. Plus the Association dues at Peary are $245.00 a month versus $482.00 at Marina Point. I was over there about an hour after it hit the MLS the other day. The lockbox hadn’t been put on yet and there were several agents there trying to get in just like I was. It’s not a short sale. They’re looking at offers on Thursday…expect a feeding frenzy. The listing agent is courageously offering to listen to all offer presentations herself at the property. I may have an offer myself but if I don’t I’m tempted to drive over there and watch the fireworks. It should be fun and interesting.

My friend Ronda, who’s also a real estate agent, told me a painful story yesterday that resonated deeply. I couldn’t help relay it because it’s not an uncommon story and I think most agents have had this experience at some point in their career. Several months ago Ronda met and developed a relationship with some people and began the process of serving them as their agent. Since late January they’ve been looking at places in various Peninsula communities…and that means driving around in Ronda’s car, previewing potential homes and providing expertise on areas, schools, restaurants and features and benefits of these neighborhoods. At one point Ronda drove the client’s to the airport as they departed for a vacation.  She picked them up upon their return as well.

Not that uncommon, believe it or not. Often, this is what agents do. A few days ago she contacted them to see if they wanted to go look at property in the near future only to be told in an e-mail that they had just bought a new house in a particular neighborhood of San Francisco (out of the area in San Mateo County they had been looking in with Ronda) and they had ended up using one of the couple’s parent’s real estate agent from way outside of the Bay Area to write the offer. The agent get’s a call, writes an offer and sells a house…all without spending one extra second with these clients.

You might think that Ronda had been perceived as inept or unsatisfactory to these buyers, but I can tell you that she’s been a passionate, professional and dedicated advocate to all of her client’s best interests in all of the years I’ve known her. You might also say that this story simply represents real life and in sales you have to have thick skin. OK, I get that, and it’s true…to a point. The truth is that this kind of event is a very discouraging thing, especially in this kind of market. It hurts. I know it hurts because it’s happened to me before too. It’s happened to most good agents I know at one time too.

OK, I’ll get off of my soapbox, it’s just that I think this kind of thing is wrong. If you feel that the agent you’re working with is not serving you well, sever the relationship and tell them why. At least then they can grow from the experience and try to improve. Something else I’m completely sure of, one day Ronda’s phone will ring and somebody is going to say something to her like “My Brother just found a house that he’s in love with, would you mind writing an offer on it for him?” A deal will almost literally fall out of the sky for her. The painful ones always seem to even out this way somehow. I guess that’s how life just is.