''If you have a 10-year time line, Los Angeles real estate is generally a good investment.''
An Interview with Beverly Barnett
Luxury Realtor, Compass Luxury Real Estate
We sat down with BEVERLY BARNETT, Luxury Property Specialist at Compass Luxury Real Estate, to discuss opportunities, client satisfaction, profitability and the luxury property market in the City by the Bay. Executive Global gets the exclusive from the dedicated and tenacious property entrepreneur, with over two decades experience connecting buyers and sellers in the fabulous city of San Francisco, California.
Executive Global: You have been referred to as a ‘’real estate powerhouse’’ by clients. What unique attributes do you possess that enables you to consistently dominate in San Francisco’s real estate market?
Beverly Barnett: Ah, I don’t know if I’d say “dominate”. I am very grateful for my career, but I’m surrounded by amazing talent. I am passionate about what I do and truly love helping clients achieve their dreams. It is so rewarding to say ‘congratulations’ to a client and knowing that you’re making a difference in their life. Hard work, my ”Can Do” attitude, excitement, optimism, problem solving abilities and perseverance, help me continue to work and play in one of the greatest cities on earth and Marin County.
EG: With some of the highest salaries, disposable income, and median home prices in the world, as well as the highest median rents, what opportunities are most exciting for investors in this market?
BB: Currently, with the changes that the pandemic has brought to San Francisco, now is an incredible time to buy property, especially in the luxury market above $5MM. It’s rare San Francisco real estate skips a beat. There are also opportunities in multi-unit properties and condos of all price ranges, plus single family homes that need work. Declining rents, the demand for outdoor space and very few buyers wanting to take on projects have created some great buyer opportunities.
EG: Also tell us about some of the generous work you are doing to give back to the local community?
BB: I fully believe in giving back and making a difference in not only my community, but also globally. I support many local charities, public and private schools, the arts and charities that help our planet.
EG: Having lived in Boston and now residing in San Francisco, how would you compare the living experience in both the East and West Coast of the United States and how has this deepened your insight?
BB: Actually, Boston and San Francisco are very similar except for the weather, LOL! Both cities are made up of so many charming neighbourhoods unique in their own right and quite diverse. Having an understanding of the lifestyle and opportunities each area offers is key in helping clients find a home or investment opportunity. Some people want to be in the middle of the hustle and bustle and others the exact opposite. Given that both cities have amazing educational institutions, I’ve also helped clients invest in properties while their children were attending one of the universities.
EG: You also have a great track record. How do you ensure maximum profitability for home sellers who wish to complete as close to the asking price as possible?
BB: With each homeowner, we look at current market conditions, price range, time of year, consumer confidence and the property owner’s goals. Based on that information, we create a strategy. Each price range and location are a bit different in approach. I am brutally honest with my clients versus telling them what they want to hear to “win” them over.
EG: What is the secret to a successful career selling multi-million dollar luxury real estate?
BB: Secret, hahaha. I’m still learning and forever a student of life. For me, it’s been creating great relationships and cultivating those relationships, treating each client as if they’re my only client by providing excellent customer service, active listening, timely feedback and ultimately, it’s about achieving great results. Another important factor is having respect from and for my fellow colleagues. While we compete and negotiate hard for our clients, having confidence in the realtor on the other side of the deal is so important for a smooth transaction and successful close.
EG: As a twenty year veteran of the real estate market, what have you learned about the importance of strategic timing?
BB: In addition to location, timing and pricing are the three most important factors in obtaining the best results. Missing the right time of year for a location and price point can really affect a client’s bottom line. As one might say, I’ve been able to knock it out of the ballpark many many times and that’s so exciting, but I’ve had clients miss the market due to personal reasons and it definitely affected their bottom line.
EG: And with over two decades of experience in the San Francisco property market, what can wealthy buyers and sellers expect when being represented by you?
BB: First, my team and I not only work with wealthy clients, but all price points whether they’re buying their first home or selling a multi-million-dollar mansion, it’s incredibly rewarding to make a difference in someone’s life. I am committed to doing my absolute best to help each client achieve their real estate goals whether that’s creating a strategic plan to help a buyer win in a multiple offer situation or helping a seller obtain the highest possible price. Hard work, determination and thinking outside the box are some of the key components to that success. EG