Real Estate Advice with Terre Steinbeck from Rodeo Realty in Beverly Hills

Terre Steinbeck from Rodeo Realty tells the Patch her favorite part about working in the real estate industry and describes how she sets herself apart from other brokers.

Patch: What’s the best piece of sales advice you’ve ever been given?

Terre: Always tell the client the absolute truth, even if it hurts. From items that need to be removed for showing to the price of the property, be true and not wishy-washy. Be confident in your answers. It will set you apart from other agents who will say ‘anything’ for the listing and will garner respect for the rest of the business relationship.

Patch: What is your morning routine?

Terre: I wake up early, around 4:30 am. It is very quiet and I can do my online scrabble with two other agent friends. I’ve got 27 games going at the same time. I write in my never ending fiction book, then I go through my emails and read any and all pertinent real estate periodicals during this quiet time. I also play lots of tennis, so I may have a game at 8 or 8:30 am before work.

Patch: If you had to recommend someone three books what would they be and why?

Terre: If it were real estate related, they’d be “Gorilla Marketing”, "The 22 Immutable Laws of Branding” and “Hype”. None-real estate would be “The Tipping Point” and “Middlesex”.

Patch: What’s the best thing about selling homes in your area?

Terre: Beverly Hills/Beverlywood and Culver City are very close-knit areas. Families know each other for generations and it is also very diverse and a ‘melting-pot’ which is one of the things I love so much! We also have the best restaurants, within a 5 block area, in the world! So, for the most part, no matter where you live, walking to everything is easy and beautiful

Patch: What’s the strangest thing that’s ever happened to you when showing a home?

Terre: That’s easy!! I began my career in Malibu and Agoura selling horse ranches. We used lock boxes (with a phone call first) and not ‘appt only’ to show the houses. I used a lock box one day showing to a family with children. It was a very big house and upon entering, I routinely yelled loudly “BROKER…”. (no response), so I began my showing… First, downstairs, through the kitchen and family room. Then we began to ascend the stars, down the hall to the kids rooms, then to the master bedroom and as we approached the master bath, I caught the reflection in the master mirror and the sound. Two people were showering and were in a very intimate embrace. I hurried the “family” downstairs (Like a comedy scene, saying “ok…. we’re done…. out, out, out”) before the showering/love-making owners even knew we were there!!

Patch: How’s the market in town these days?

Terre: Everyone says, “when’s the bubble going to burst?”. Our market is crazy, but it has always been this way. This is one of the most famous places to live… in the world and our prices will never falter. We’ve had some ‘tick’s down’ which is healthy. First in 1999 (tech crisis) and then 2008 (loan crisis). Both of these downturns didn’t last long and our values shot up far beyond the top prices before the downturns. Buying location and now “walking-location” has and always will surpass other markets and sustainability as a whole. The best part of our market is loans are ONLY being given to the borrower who can actually afford it!

Patch: What is your favorite part about working the real estate industry?

Terre: My favorite part is the social aspect. I love this business. I love door-knocking, open houses, caravan day, architecture, meeting all the new people. My closest friends now, I met by their first phone call to me, “can you find me a house or can you sell my house?”

Patch: What sets one real estate broker apart from another? And how are you unique?

Terre: We are all so very different, from our business models to our personalities. I’m a very “hands-on” realtor. I have assistants and office staff, but my clients rarely, if ever, meet them. I give out and answer my cell phone. I do all my own showings and open houses. I don’t believe in reducing a sales price. This really sets me apart because I think reducing the price makes it look like it wasn’t priced right in the beginning, which is my job! I also think price reductions make a home look like its being sold by a discount retailer (think K-Mart).

Patch: What’s your advice to someone who’s looking to a buy a new home right now?

Terre: Stop worrying about “timing the market”. Everyone, even the most skilled investors, want to buy at the “low”. This will never happen mostly because you only see the “low” when its behind you. In 2010, everyone was playing the waiting game thinking the market hadn’t hit the low yet. I told them to buy and buy now!!! I didn’t know if it was the lowest the market would go or not. In hindsight, the lowest was probably the end of 2010/beginning of 2011 but now those 2010 Buyers are so happy they got pushed by me and bought and didn’t wait.

Patch: What advice would you give to someone trying to sell his or her house?

Terre: Go visit a model home in a new home development if at all possible. Look at how generic the home has been furnished/staged. This is what will get you more money. You absolutely must empty the house of all clutter and personal photos, art, extra clothes, appliances, furniture in hallways, etc. Listed to your listing agent about preparation and especially price. Pricing strategy is the most key after preparing the house.

Patch: How can readers contact you?

Terre: My cell is 310.666.4094 – I’m a big texter because it makes everyone’s life easy. My clients can text, “Can you talk?” and I can go to a quiet place and call them and vice versa. Email, social media, etc. I’ve had people track me down on Facebook!