Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

For third-generation broker and property manager Meghan Pachas, who works in the Shenandoah Valley in Virginia and the Eastern Panhandle of West Virginia, professional life goes hand-in-hand with a life of service. Pachas started the first Young Professionals group for the Blue Ridge Association of Realtors, serves on the BRAR board and has been board president since 2023. At the state level, she serves on the Property Management Council for Virginia Realtors.

Pachas said she loves “helping both people and animals find homes” and has combined both in her career. She serves on the board for Blue Ridge Habitat for Humanity and volunteers and fosters animals for Shirley’s Angels Animal Rescue. Find out how her passion for all things real estate-related informs her work with clients and colleagues.

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Name: Meghan Pachas

Title: Broker-owner

Experience: 19 years in property management, received my real estate license in 2009. Currently have a broker license in VA and WV

Location: Winchester, Virginia

Brokerage name: MAP Property Solutions

Transaction sides: 1,160

Sales volume: $53 million

Awards: Multiple volume awards from Blue Ridge Realtors, most recently the Director’s Award in 2023

How did you get your start in real estate?

I am a third-generation broker and literally grew up in this industry. My grandparents owned a property management/sales office which was then taken over by my uncle and father when they retired. I actually went to school for American Sign Language and had plans of becoming an interpreter; instead, I ended up working for my family and falling in love with real estate.

What do you wish more people knew about working in real estate?

That HGTV and shows make it look easy, but this is a tough industry. If you’re not motivated and self-driven, you’re going to have a hard time. While there’s no ceiling for how much business you can do, there’s also no floor.

I also wish other agents remembered that we are all in the same boat. It doesn’t matter how long you’ve been in the industry; it’s not easy for anyone, and helping our fellow agents can go a long way.

What’s something you know now that you wish you knew when you started?

Get involved with your local board. I have grown and learned more than any class I’ve taken or book I’ve read just by volunteering and getting involved with the local and state associations. Seeing the behind the scenes and why things are the way they are has helped me become a better agent and advocate for my clients.

What makes a good leader?

Someone who recognizes the strengths in others and helps positively motivate them. A person who is able to push their team towards a shared goal and recognize the smaller achievements along the way.

What’s one thing you wish every agent knew?

The importance of getting involved. Being part of our real estate community and the community you live in is so important. All it takes is one person to help promote positive change.

Email Christy Murdock

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

Did you know that from 1949 to 1973 alone, more than a million people were reportedly displaced due to unfair eminent domain practices, some of whom are still affected today?

History can be a cruel reminder of the cost of what some consider necessary development and progress. Decades-old unfair land and home seizure issues have garnered media attention and ongoing community resistance, including Ebony Beach Club (below),  Bruce’s Beach and Hilton Head. 

Yet unfair eminent domain takings persist. 

Sadly, for some homeowners today, including those in this specific instance in Georgia, the woes of eminent domain displacement are not just a theoretical issue or a historical lesson — it may feel like an ever-present, looming threat rather than progress.

Can eminent domain seizures ever be fair?

Being forced to sell unexpectedly your real estate property (especially if it doubles as your home), particularly without fair compensation (that covers the market value, moving expenses, and just the all-around hassle), can be jarring, to say the least.

It is debatable if a particular new development (such as a park, road or private golf course) should be able to displace existing owners. But what should emphatically not be up for debate is how fairness is broached when new developments are proposed.

It is not often discussed, and probably not widely known, that there are seven dimensions of fairness, with three typically requiring collective action (substantive, retributive and restorative), and four (distributive, interactional, informational and procedural) falling under the control of everyday practitioners. 

Although all seven aspects of fairness are vital, if our communities (governing officials, developers, fellow real estate agents, residents and the like) focused just on procedural fairness, eminent domain takings would likely not sting as much and perhaps not cause discombobulating displacement.

For the rest of this piece, let’s focus on procedural fairness, which is often lacking in cases of eminent domain displacement but does not require any legislative or judicial change — it quite simply can be a commitment to better business practices.

Via Instagram @segregation_by_design and @whereismyland

The courteous 7: Decoding and emphasizing procedural fairness

Has there ever been a time in your life when a decision was made that impacted you, yet you were not consulted? 

How did you feel about such dogmatic decision-makers? 

Was it difficult to remain in the community with them?

You may have memories of exclaiming, “That’s not fair!” (often a child’s favorite reframe that gets stifled by some who say, “It’s my way or the highway!”).

I’d understand any indignation you felt because whether or not you knew the official term, you experienced a lack of procedural fairness.

Procedural fairness pertains to the just treatment of the processes and methods used to make decisions and resolve disputes. 

In terms of real estate, what is telling is that in just about every case of displacement tracked since 1949, at least one of the following seven key components of procedural fairness had been absent:

• Transparency: Decision-making processes and criteria should be clear and accessible.
• Consistency: Procedures should be uniformly applied across similar cases, ensuring that decisions are not arbitrary and similar circumstances are handled similarly.
• Impartiality: Decision-makers should remain neutral and unbiased, free from personal interests or favoritism.
• Right to be heard: Affected individuals should have the chance to present their views and evidence, including the option to file complaints with the powers that be. 
• Right to legal representation: Individuals should be able to seek legal advice during the decision-making process and should not be pressured into signing agreements without legal counsel.
• Reasoned decisions: Decisions should be based on evidence and relevant information, with supporting documents shared with the affected homeowner. Clear explanations of how decisions were made can help mitigate the emotional impact of displacement.
• Review and appeal: There should be mechanisms for reviewing and appealing decisions to correct errors and ensure accountability.

Thus, our “that’s not fair!” statement moves from just a childlike exclamation to a telling synopsis of missing salient procedures.

Can you imagine how resistance, frustration and animosity might be lessened if every single time a new development is proposed, all seven components of procedural fairness were prioritized?

Currently, fair housing laws do not expound on procedural fairness (or any of the details of fairness). But, we do not need to wait for legislative change (though this would be welcomed).

Housing practitioners (especially developers and our self-governance bodies like the National Association of Home Builders, Appraisal Foundation, National Association of Realtors, Mortgage Bankers Association, and so forth) can independently embrace ahead of the curve these proactive procedural courtesies and standards now. 

Dr. Lee Davenport is a real estate coach/educator and author who trains real estate agents to provide access and opportunity in real estate. Connect with her on Instagram.

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

In real estate, where top talent operates independently, managing relationships with independent associates is an art form. Unlike traditional employees, these professionals bring unique motivations, work styles and expectations to the table. The conventional management playbook simply doesn’t apply.

So, how do you ensure that your one-on-one meetings with associates are not just productive but also foster a thriving partnership? Let’s explore some strategies that can make a real difference.

1. Tailor one-on-ones to independent contractor dynamics

First off, let’s throw out the idea that your associates are just like employees. They’re not. Independent associates have different motivations — be it financial freedom, control over their time or the ability to work how and when they want.

Your job is to align their goals with your business objectives, but without the heavy-handed oversight that comes with a traditional boss-employee relationship.

Make your one-on-ones more about collaboration and partnership. Approach these meetings with a mindset that you’re working alongside them, not above them. It’s about finding common ground where their aspirations and your business goals intersect.

2. Shift focus from performance to project management mindset

Let’s be real: Traditional performance reviews are a relic of the corporate world that don’t resonate with independent associates. What matters to them isn’t how well they conform to your processes but how effectively they deliver on driving more transactions.

Instead of approaching things from a performance review mindset, switch gears to a project-based approach. Discuss milestones, immediate goals and how their work ties into the broader vision. This project-focused approach not only respects their independence but also keeps everyone aligned and moving forward.

3. Understand their motivations

If you don’t know what drives your associates, you’re flying blind.

• Is it the money?
• The flexibility?
• The chance to grow their own brand?

Start every relationship by digging into what makes them tick. When you understand their motivations, you can tailor your one-on-one conversations to make sure you’re not just meeting your business needs, but also fulfilling their personal and professional goals. This understanding creates a win-win scenario that’s hard to beat.

4. It’s about them, not you

One-on-ones are not your soapbox. They’re a platform to dig into what your associates need to succeed. Use this time to listen more than you speak.

What challenges are they facing? What support do they need? By focusing on their needs and challenges, you build trust and make them feel valued. And when people feel valued, they perform better. It’s that simple. This shift in focus can transform a transactional relationship into a true partnership.

5. Prioritize professional development 

Independent associates thrive on opportunities for growth. Whether it’s expanding their skill set or growing their client base, they’re always looking for ways to level up. Use your one-on-ones to discuss opportunities for professional development or introduce them to networking events in your industry (like Inman Connect). Not only does this benefit them, but it also strengthens your relationship. You become more than just a boss or mentor — you become a key player in their growth story.

6. Manage people according to their strengths, core values and personality

One-size-fits-all management is a myth. Each of your associates has unique strengths, core values and personality traits that make them tick. Your job is to tailor your management style to fit them, not the other way around.

Use your one-on-ones to explore these aspects and adjust your approach accordingly. This personalized management can maximize their effectiveness and satisfaction, making them more likely to stick around and do great work.

7. Create a culture of transparent accountability 

Accountability isn’t a one-way street. In your one-on-ones, don’t just focus on what your associates are doing; invite them to critique your processes and the partnership.

This two-way feedback can improve collaboration and make your associates feel like they have a stake in the game. When they feel heard and valued, they’re more likely to stay committed and deliver real results.

8. Emphasize flexibility and mutual respect

Remember that associates are not bound by the same rules as employees. Flexibility is key. Be open to adjusting meeting times or formats to suit their schedules. This shows that you respect their autonomy and value their contribution. Flexibility isn’t just about logistics; it’s about creating a working relationship built on mutual respect and understanding.

Bonus super secret: Encourage peer collaboration

To accelerate results, foster collaboration among your associates. Your associates aren’t just islands working in isolation — they’re part of your team.

Encourage them to share knowledge, resources or even co-manage projects. This can lead to more innovative solutions and a stronger sense of community within your team. Peer collaboration isn’t just good for morale; it’s also a smart business strategy that can drive better results.

In the end, managing independent associates is all about adapting to their unique dynamics and creating a partnership that benefits both parties. By focusing on collaboration, project management, understanding their motivations and offering flexibility, you can build strong, effective relationships that drive success.

Forget the old playbook — it’s time to embrace a new, unconventional approach to one-on-ones that puts your associates, and ultimately your business, in the best possible position to thrive.

Chris Pollinger, founder and managing partner of RE Luxe Leaders, is the strategic advisor to the elite in the business of luxury real estate. He is an advisor, national speaker, consultant and leadership coach.  Learn more about their consulting, coaching and advisory programs at RELuxeLeaders.com

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

About one week after Oren and Tal Alexander made known their plan to return to lead Official following their other co-founders exit, more information has come to light about how negotiations between the firm’s co-founders crumbled.

In June, the brothers signaled that they would be stepping away from their leadership roles at the brokerage after several women came forward with allegations of rape and sexual assault against them.

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As more lawsuits against the Alexanders emerged, and the FBI began its probe into the brothers’ conduct, Official’s remaining co-founders — Nicole Oge, Richard Jordan and Andrew Wachtfogel — launched into crisis management, distancing themselves from the brothers and making a point of saying their names were not synonymous with Official.

While agents and developers distanced themselves from Official, Oge, Jordan and Wachtfogel hit the road in early August to raise money and launch a rebrand of the firm, sources told The Real Deal.

Even before the three other co-founders could hit the road for their campaign to reset the brokerage’s reputation, by the end of July, the Alexanders were demanding a course of return, if or when their names were freed of all charges, The Real Deal’s source said.

The fundraising trip, which reportedly began in Aspen, was then suddenly halted “due to the friction playing out behind the scenes,” according to a source of The Real Deal’s.

As co-founders of the firm, Oge, Jordan and Wachtfogel had the capability to vote the Alexanders out of Official, but the Alexanders threatened legal action against them, and the trio had no desire to take part in a legal battle, sources said.

Tal and Oren Alexander denied the allegation that they had threatened their co-founders with legal action in a statement emailed to Inman from their attorney, James Cinque.

“As with much of The Real Deal hyperbole, the statement is false,” Tal and Oren said.

Still, Oge, Jordan and Wachtfogel decided to forfeit their ownership in the firm, and cut all ties as of Aug. 15, 2024. A representative for Oge, Jordan and Wachtfogel did not respond to a request for comment by press time.

Shortly after the three co-founders’ departures, Tal and Oren communicated to Business Insider by way of Cinque, that they “are excited about their new lineup and will be announcing details very soon.”

Such an enthusiastic approach seems at odds with the gravity of their current situation, since upwards of two dozen women have now come forward with allegations against them — either to major news outlets or attorneys representing alleged victims — and since they are also now recipients of an FBI probe. At this point, it is unclear how much the Alexanders and Official as a firm can recover from such serious allegations and scrutiny.

The LA-based Tyrone McKillen, Brent Watson and Marco Salari have all now left Official, as well as at least seven agents in New York and Miami.

Oge, who has always been a pillar of Official, first began talks with Oren and Tal about launching a brokerage around 2019, according to The Real Deal’s sources. At that time, she was working with WeWork and later became an adviser for brokerage startup Casa Blanca, but previously had overlapped with the Alexanders at Douglas Elliman while working as the firm’s global chief marketing officer.

The Alexanders reportedly gave Douglas Elliman CEO Howard Lorber about a year’s notice before they left the firm to launch Official in 2022, The Real Deal’s sources said. Douglas Elliman then attempted to retain the brothers with a similar financial offer to what Side was offering them, according to text messages obtained by The Real Deal.

Elliman declined to comment to The Real Deal and did not comment to Inman by press time.

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Email Lillian Dickerson

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

Shares in cloud banking solutions provider nCino Inc. tumbled Wednesday after the company said its mortgage technology business has been a drag on growth but is expected to pick up once interest rates come down.

In reporting an $11 million second-quarter loss Tuesday, nCino said revenue was up 13 percent from a year ago, to $132.4 million, helping the company trim its Q2 loss by 31 percent from a year ago, when it was $15.9 million in the red.

But nCino Chairman and CEO Pierre Naudé acknowledged in a statement that “some macroeconomic challenges persist, particularly in the U.S. mortgage market and international markets.”

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The company’s guidance for third-quarter revenue of between $136 million and $138 million also disappointed investors.

Shares in nCino down 14% after Q2 earnings

Source: Yahoo Finance.

Shares in nCino, which in the last 12 months have traded for as much as $37.48 and as little as $27.13, fell 14 percent to $29.74 at Wednesday’s close.

NCino, which raised $268.4 million in a July 2020 initial public offering, reported that it had $126.8 million in cash and cash equivalents on hand at the end of July, and repaid $15 million on its revolving credit facility.

Having spent nearly $1 billion to acquire mortgage technology provider SimpleNexus in 2022 as interest rates were starting to climb, the Wilmington, North Carolina-based cloud banking pioneer has found growing the business to be a challenge.

While Q2 subscription revenue across all of nCino’s business lines was up 14 percent to $114 million, mortgage subscription revenue grew by only 4 percent, to $17 million, Chief Financial Officer Greg Orenstein said on a call with investment analysts.

NCino signed six new mortgage customers in the second quarter, four of which were financial institutions, CEO Pierre Naudé told investment analysts. One of the largest homebuilders in the United States began a nationwide rollout of the nCino mortgage solution in July, he said.

One issue nCino has been coping with in trying to grow its mortgage technology business has been “churn.” Even as it signs new mortgage customers, it must cope with the loss of existing clients — in some cases because they’re acquired by competitors or go out of business.

The banking technology provider, which wrapped up its 2024 fiscal year on Jan. 31, saw its customer count shrink during that period, driven by a 9 percent decline in total mortgage customers to 434.

Mortgage customers down on ‘churn’

NCino’s total customer base, which as of Jan. 31, 2024, included 1,149 clients of nIQ, nCino’s artificial intelligence solution. Of the 434 mortgage customers as of Jan. 31, 63 were also nCino Bank Operating System (BOS) customers or portfolio analytics customers. Source: nCino investor presentation.

Naudé said it’s important to keep in mind that SimpleNexus — which nCino acquired in January 2022 for $933.6 million and rebranded as nCino Mortgage in September — primarily served independent mortgage banks (IMBs).

With a tight focus on mortgage lending, some IMBs — also known as non-bank lenders because they lack deposits to loan against — have struggled as elevated mortgage rates curtailed homebuying and refinancing.

But nCino has been successful in broadening the customer base for its mortgage solution by marketing it to its existing banking customers and homebuilders, which are less susceptible to churn.

Pierre Naudé

“Banking is a lot less risky for the mortgage business, because once [a bank buys a mortgage subscription], it stays there,” Naudé said. “It’s not like IMBs, which are doing M&A [mergers and acquisitions] all the time, or shutting down the business.”

Naudé welcomed the recent news that IMBs reported earning a pre-tax profit of $693 per loan during the second quarter following eight straight quarters of net losses.

But he said nCino’s mortgage business is “a lot more balanced now” as it expands beyond SimpleNexus’ IMB customer base. “It’s more growth-oriented, and as soon as this rate cut comes in and the volumes go up, I’m actually highly optimistic that mortgage will start performing at a different level for us.”

NCino’s mortgage clients include Synergy One Lending and Fairway Independent Mortgage Corporation, but most of its revenue comes from providing a range of technology services to global banks like Bank of America, Barclays, Santander, and TD Bank; enterprise banks including Truist Bank and U.S. Bank; regional community banks like WaFd Bank and M&F Bank; and credit unions like Navy Federal Credit Union, SAFE Credit Union and Marine Credit Union.

While nCino saw its customer count drop last year, it boosted the number of clients generating more than $1 million in revenue a year to 86, up from 73 the year before. No single customer represented more than 10 percent of total revenue.

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Email Matt Carter

Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

An employee who led a content team at Realtor.com before moving to rival CoStar Group transferred access to as many as 40 documents to his personal email and continued accessing them dozens of times after exiting the Move, Inc.-owned portal, according to a forensic analysis in new legal filings Tuesday.

Realtor.com parent Move, Inc. asked the court to issue an order that would block former Realtor.com content editor James Kaminsky and current employer, CoStar Group, from further access to documents at the center of a lawsuit filed in July. Trade secrets within the documents include details on the company’s online traffic, advertising and lead generation tactics, Move attorneys claim.

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“Anyone with access to these documents knows what will be published on Realtor.com, and when,” Move, Inc. Vice President of Editorial and Content Amy Maas said in a sworn statement included in the new filing. “How Realtor.com’s stories are performing, and why, who Move’s Communications team is in contact with and what information media outlets are requesting from Move.” 

Originally filed in July in U.S. District Court in California, the lawsuit has put a spotlight on the intense race between the country’s largest real estate portals to gain more web traffic and convert that into profit. It also highlights the ongoing fallout between Realtor.com and CoStar, which was reportedly on the cusp of purchasing Move, Inc. in early 2023 before negotiations ended.

In the latest filing, Realtor.com lawyers shared insights from forensics experts who analyzed Kaminsky’s work computer and other Realtor.com documents to determine how and when he allegedly viewed them.

Howard Pence, vice president of global cyber defense for News Corp., which owns Move, said in a sworn statement that digital logs of Realtor.com’s documents showed that Kaminsky transferred access to 40 documents on Jan. 11 and Jan. 12, Kaminsky’s final two days working for Move.

“I am not aware of any legitimate business purpose for a former employee such as Mr. Kaminsky to access Move’s electronic files on the Google Docs account after his employment ended,” Pence said. “Mr. Kaminsky was not authorized to access the Google Docs account after his employment ended.”

CoStar dismissed the latest filing, saying in a statement that it was a distraction from a separate lawsuit filed against Move, Inc. last week.

In that case, a group of eight Realtors accused Move, Inc. of selling unvetted and fraudulent leads through Move Network sights, including Realtor.com, ListHub and UpNest. CoStar is not involved in the suit.

“We have stated from the beginning that Move’s case against CoStar was a PR stunt, and this is just more proof,” CoStar General Counsel Gene Boxer told Inman. “Move’s continued bullying of a long-serving employee in the process is even worse. We will fight and win this dispute. In the meantime, Move should focus on the lawsuit against Realtor.com for allegedly selling unvetted and fraudulent buyer and seller leads.”

The lawsuit and declarations don’t accuse Kaminsky of sharing the documents with anyone at CoStar.

The new filing in Realtor.com’s lawsuit included sworn declarations from Kaminsky’s former employees and superiors at Realtor.com, as well as the forensics experts working for Move who analyzed the documents.

Kaminsky ran a division known as the News & Insights Team at Realtor.com, which Move employees said had successfully driven traffic to the website.

Kaminsky was terminated from Move on Jan. 10. Jan. 12 was his final working day, according to the court documents. He began working at CoStar in March.

According to his LinkedIn profile, which was removed shortly after Move filed its lawsuit on July 2, Kaminsky started working as an editor at Homes.com in March. Kaminsky wrote that he was a content lead responsible for overseeing a team of 10 full-time writers.

Realtor.com’s communications director said that the documents at the heart of the lawsuit “contain a great deal of confidential and proprietary information that could be used to construct and operate a competing News & Insights-type platform.”

One of the four key documents at the heart of the lawsuit is considered “a detailed business plan” for the teams that drive traffic to Realtor.com, according to the filing.

Maas said that a member of her team was viewing the document on June 3, 2024, when they saw a user access the document with the email address [email protected]. 

“I was stunned to learn that a former Move employee was accessing a highly confidential electronic document of Move (and effectively spying on updates to that confidential document in real time), especially with respect to this document because it contains so much valuable, non-public information about our business,” Maas said in her sworn declaration.

Email Taylor Anderson

Read the latest filing here (refresh page if document doesn’t appear).