Industry Insights
AN INTERVIEW WITH NINA HATVANY, A SAN FRANCISCO
TOP PRODUCER
In 2006, Nina Hatvany closed the
most transactions, completing a record $106 million in sales at
the San Francisco office of TRI Coldwell Banker. She is in the
top one percent of Coldwell Banker nationwide. Her career in the
real estate industry has also included past work in development
including building townhouses in Palo Alto, refurbishing Bay Area
apartment buildings, and restoring and rehabilitating homes in
San Francisco. She has both a contractor's and a real estate license.
Before real estate, Nina was
a professor at the Graduate School of Business at Columbia University
and later the Graduate School of Business at Berkeley, California.
She holds an M. A. and Ph.D. from Stanford in Psychology and is
widely recognized as one of the best-trained negotiators in the
business. Nina has resided in San Francisco for 25 years with
her husband. They have three adult children who have had a wonderful
experience being raised in the City.
Can you tell us about yourself?
I was born and grew up in London
and came to this country about 30 years ago. I originally came
to the U.S. to get a Ph.D. in Psychology at Stanford. I was only
going to study in the U.S. for one year. But, when I got here,
I loved it and decided to stay. My first job after Stanford was
teaching Organizational Behavior at Columbia University School
of Business.
During those years, New York
was going through a gentrification process and I got involved
with some development work. My position at Columbia gave me access
to people at some major lenders so I teamed up with a developer
and handled marketing, loans and things like that. It was fabulous
and great fun. Eventually, I returned to the Bay Area, got married
and had a family. It was not a stretch to use my experience in
NYC development for similar work here. But, when you are renovating
houses that you live in, you tend to need to move frequently.
With a family, we needed to settle down. That's when I started
focusing on real estate sales. That was 1991.
You were
one of San Francisco’s top agent in 2006. Call you describe
how you set your goals in the beginning of the year?
I don't set monetary goals at
all. It's too unpredictable. I plan a series of activities that
I believe will result in success over the year. In the beginning
of the year, when it's quiet, I make contact with my sphere of
influence. I mail them every two months with a variety of messages
that may or may not be related to real estate. For example, I
mail them to remind them of the time change in April. Before mailing,
I go through my list to make sure I am up to date on any life
changes, too. While mailings are effective, they are impersonal.
As a result, I often use January as a time to call people and
speak with them on a more personal level.
Call you take us through your
efforts to get listings?
It's gotten much easier recently.
I get many more referrals than when I was starting out. Prospects
may see my signs or may follow up from an open house. But, when
I do get a call from someone who sees one of my signs, there's
still no personal connection. I assume such an individual is talking
to at least three other agents.
I always follow up with a very
thorough proposal that takes a long time to put together. I consider
my follow up proposals from an initial meeting very, very important.
Crucial. That's my chance to compete with another agent for a
listing. Prospects see my proposals as an indication of the marketing
I will do for them. Plus, it's respectful to them to see that
I have put in so much effort.
How do you position yourself?
I specialize in San Francisco
only but other than that I don't really have a niche. I am much
more client focused. Once I get involved in with a client, my
goal is to represent them and their families for the duration.
As the years go by, I often represent their adult children and
other relatives. I do homes of all prices all over the City.
How is your team structure?
I have one full-time licensed
assistant. She does everything alongside me. She helps with marketing,
listing presentations, etc. I also have a part-time transaction
coordinator to help with the paper flow. I share a marketing person
who does my web site and graphics.
What works for you best when
marketing a listing?
The goal is to be comprehensive.
I don't like to hear if another agent is doing something that
I'm not. Everything from the most basic: cards to the neighbors,
printed pieces, print advertising, Coldwell Banker's Previews.
The Internet is incredibly important.
What do you do with the web?
First, I get excellent photos!
Second, I really massage the text of an ad with plenty of client
input. Everything is reviewed by my clients. I use my web site,
www.ninahatvany.com and www.camoves.com, which feeds into realtor.com.
I also use luxuryhornes.com.
What has been the best results?
Direct mail works best, then
the web. I'm finding print ads to be less effective. The clients
like it and there is a certain amount of branding, but I don't
think print ads to consumers are selling properties right now.
Other
than referrals and real estate signs, what is your best source
of new clients?
Open houses. I do an open house
as often as I can. It is a great way to meet people. Believe it
or not, I have had people call me who met me at an open house
three years in the past! Fantastic. Open houses are a very public
place to be and they work.
Call
you tell us some of the things you do for your buyers?
The role of an agent to help
buyers has really changed. I used to take people out for long
tours and advise them what homes to see. Those recommendations
came from my visiting homes before them. That was before widespread
use of the Internet Today, information is coming to both of us
at the same time. So now, my clients and I jointly decide if a
home is worth seeing. I may know the house or apartment building
just because of my years in the business but my buyers know about
homes the same time I do.
Given the changes you describe,
what is the value proposition you bring?
Sometimes I joke with my clients
that ''I'm the party-pauper." It's a serious role. They don't
need an agent to see a property but they need one to advise them
on it. Location, setting, light, surroundings, structure, foundation,
homeowners' association rules, disclosures, things like that.
For example, I may note that a condo association doesn't have
enough regular meetings to, in my opinion, manage the property.
That's something I would convey to the client. I find this work
to be very interesting. It takes advantage of my knowledge more
completely than in the past.
What is your approach to negotiation?
My philosophy is that if there
is an able buyer and a willing seller, there's a deal to be made.
I am cordial, optimistic, and focused on the goal. Taking a hard
line and sticking to it doesn't make a sale.
What advice would you give to
new agents to be successful in San Francisco?
It's hard work and it takes a
serious commitment. I work every day, all day, and most weekends.
Do floor time at your office. Do open homes. I also think it is
important to expose yourself to other people, prospective clients,
in a setting where people see you work. Take a leadership role
at your child's school, or a club, where people can see you being
capable and responsible. It is an effective way to get clients
and support a cause you feel is important. And, in San Francisco,
people are love real estate. Always remember you are a REALTOR"®.
People love to talk about real
estate in this town. It's good to trade on that. *
