Whereas it is a mixture of pride and ego that I have intermittently been considered "creative", I am flattered that the outlet that is active rain allows me not only to rant and ramble-but to be recognized for doing so--thank-you active rain!!!
Which brings me to the real meat of my post: I am sad. I might be getting a new listing and I am ambivalent about it. Why? I am currently working on three listings in East Oakland-all three are a grand total of less than $800,000. I ran into a former colleague over the weekend. She told me that someone walked in to her new office and was plunking down $3 million for a condo. With transactions in the $200's and $300's, I couldn't even conceive how many it would take to achieve that lofty level.
I recall a decade ago in Oregon when some agents wouldn't work with clients spending less than $300 or 350 thousand. I sold lots and condos in the $50-70,000 range and was proud to sell one house for around $250,000 to attain the distinction of "MMDP" (multi-million dollar producer-in the late 90's this was $3 million in volume in the Portland area).
As usual, I digress. Why am I concerned about taking a listing around $100,000? Because I won't make very much money? No. Because it could be hard to sell? Maybe-but then I pride myself on my marketing so I am reasonably confident that I can sell this house. It is probably one of two reasons. One, that a wonderful old lady lived in this house forever, couldn't afford to fix it up much-other than a new roof-and her entire life has dwindled to less than $100,000 (net). The second reason is even more tragic. This elderly woman wanted to do the right thing and leave her only asset to another delightful woman who cared for her. But the deceased woman changed bank accounts and her insurance company canceled her policy. And the recipient of this largesse is terminally ill and stands to benefit very little other than a whole lot of aggravation. (And owes more than half the "value" of the home to medical bills and an attorney-the attorney will make more than my potential commission.)
So, to answer my own dilemma, will I take this listing, if offered? Yes. But, will I feel good about it? I am not sure. Yes, I want the heir to have her shekels and enjoy her remaining days but I am pissed off that it is not enough for her to enjoy some comfort and reward for her caretaking and inconvenience.
And more than anything, I really don't know who benefits from this screwed up economy as I see many people "losing" in this situation.
Thankfully, I believe in karma and am optimistic about being "rewarded" later.
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