By Lesley Geary
RISMEDIA, Nov. 27, 2007-With 17 years of real estate under his belt, Larry Klapow, president of Coldwell Banker San Francisco Bay, understands that in a buyer’s market, necessary partnerships need to be obtained to extend service to buyers, ultimately helping a smooth selling transaction for clients. Here, learn what works for Klapow in his California markets.
Coldwell Banker San Francisco Bay
San Francisco, and Marin and Sonoma Counties, California
Years in real estate: 17 Career path: “I have always been with Coldwell Banker. I started as an agent in 1990 and sold real estate for six years. That’s how I began.” Fast forward to February 2007, Klapow became president of Coldwell Banker San Francisco Bay. Number of offices: 16 Average sales price: $800,000 Number of agents: 865 Average time on market: “The average time on the market is moving up on a weekly basis. Today, it is around 70 days.” In my spare time: “I sail, and I play a lot of guitar.” Philosophy on a successful life in real estate: “Be honest. Work at your business every day and take great care of your customers and everything else will fall into place.”
How are the market conditions in San Francisco, Sonoma and Marin counties? We have moved in a very short period of days-perhaps the last 120 days-from a seller’s to a buyer’s market. Inventory is building up. The entire mortgage/credit debacle is starting to have a psychological effect on people here. We have a very strong economy so the slowdown does not make as much sense as it should. But today it’s all about being the best price and in the best condition.
In your opinion, what differentiates your brokerage from the others in the marketplace? At Coldwell Banker San Francisco Bay, we have, without a doubt, the finest technology packages for both our agents and our clients-probably the best in the industry.
How would you describe the demographics of your clientele? Our clientele is predominantly made up of affluent professionals. Other than in the City of Oakland, people are doing very well. One part of my market is Sonoma County, which has a secondary-home market, so we are very diversified. My territory spans 100 miles.
What role do professional partners, like American Home Shield®, play in your business? American Home Shield is a fantastic partner. The entire team there is very professional. Bottom line-they have the best product on the market. Partnering with AHS is very positive for us and makes perfect sense.
How does AHS® fit in with your personal business philosophy? American Home Shield is a company of high integrity and total honesty. These are the same principles that make up the foundation of Coldwell Banker San Francisco Bay. It’s people first.
In your experience, how do home warranties help with home sales? Home warranties provide an added degree of confidence. Especially in times like this, where the market has changed and consumers are taking more time to make home purchases, it’s one more thing to make them feel good about what they are doing.