by Shelby Dunstan | Aug 8, 2024 | Industry, News Feed
Find out why broker and co-founder of REAL New York Louis Adler wishes more agents promoted themselves and harnessed the power of consistency.
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Born and raised in Brooklyn, New York, Louis Adler attended Indiana University and then went to work with some of New York’s most prolific developers and brokerage firms, including The Durst Organization, where he consulted on opening and optimizing new buildings and the firm’s leasing operations.
Early in his career as a real estate broker, Adler connected with Robert Rahmanian, with whom he later co-founded REAL New York, a full-service brokerage that has represented landlords and developers across over 500 buildings for more than a decade.
“Our goal was to build a brokerage firm for agents and run by agents. We started our brokerage business representing landlords of smaller-sized buildings, since the smaller buildings weren’t favored by other brokerages, and we created compelling marketing and sales campaigns for them. This really set us apart and helped grow our business,” Adler said.
Although he’s accomplished many record-breaking deals, one that stands out for him is the $55 million penthouse sale at 70 Vestry, which set a record for TriBeCa’s priciest condo ever sold in December 2018.
Find out how why Adler is a big believer in consistency and self-promotion for agents.
- Name: Louis Adler
- Title: Co-founder and co-CEO
- Experience: 15 years
- Location: New York
- Brokerage full name: REAL New York
- Team size: 140 agents and 25 staff members
- Transaction sides: Over 3,800 transactions a year
- Sales volume: Over $100 million a year
What are 5 things you’d like readers to know about you and your brokerage?
- REAL New York’s very first client, more than 10 years ago, is still a client today. This is a testament to our strong client relationships.
- What makes REAL New York different is that we always put the client relationship first. When we started the business, we leveraged those relationships to build a full-service brokerage business focusing on sales, leasing, and new development marketing for condos, rentals and commercial leasing. By developing the landlord/developer relationships first, we create opportunities that our agents can leverage. As part of our company offering, agents have access to REAL New York’s owner relationships very early on and do not need to be part of a team to earn these opportunities.
- We have helped our developer and landlord clients grow significantly in size and expand their portfolios. We’ve been able to put the developer and landlord hats on to understand what’s best for their business and ultimately provide them with the most strategic advice.
- We are extremely dynamic in that we can transact on all sides of the business — condo sales, multifamily and rental, and retail and commercial leasing. We are a full-service brokerage firm that can offer clients residential services (both rentals and sales), new development sales and marketing expertise, and commercial leasing throughout the boroughs of New York City.
- We have one of the best training and development platforms for agents, which allows them to curate their careers based on their own goals while also working alongside owner opportunities on the sales, leasing and commercial side of the business.
What’s something you know now that you wish you knew when you started?
Earlier in my career, I wish I would have known that staying consistent pays off. Looking back, the moments when I felt like giving up, are the moments when I hit a home run or closed a big deal. Through the height of the pandemic, our firm continued to stay consistent with our approach, and it served us well. Consistency does pay off!
What’s your top prediction for next year?
On the sales side of the business, I predict a slight drop in interest rates over the next year, and this will lead to increased prices and buyer demand.
In a nutshell, I predict higher highs on the sales side. I also believe prime Brooklyn neighborhoods will continue to remain popular as buyers look for more space and a community in which they can live, work and play.
On the rental side, there is still a lack of supply, so I predict demand will remain strong, and it will lead to the continued increase in rental prices.
What’s your top tip for freshly licensed brokers?
My top tip is to rip the band-aid off. There are many times that I see new agents scared to promote themselves and tell their friends and family what they are doing.
By not promoting themselves, it hurts them in the long run. It’s a tough business, and technology is making it even harder, so my advice to brokers is to do what they can to promote themselves.
What do you wish more people knew about working in real estate?
I wish more people knew that working in real estate is challenging enough without adding self-imposed obstacles. It’s crucial not to hesitate when it comes to marketing yourself.
A strong foundation in self-promotion can set you apart in this competitive field. Consistent and confident marketing efforts build credibility and attract more clients. Ultimately, proactive marketing is key to establishing a successful and sustainable real estate career.
Know someone who should be featured in an upcoming Broker Spotlight? Nominations, please, to [email protected].
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by Victoria Kennedy | Aug 8, 2024 | Industry, News Feed
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With all the talk about buyer agency in this post-National Association of Realtors settlement world, it’s easy to forget the timeless truth that if you control the listings, you control the market. In this article Jimmy Mackin, CEO of Curaytor and co-founder of Listing Leads shares five effective strategies to generate listings right now.
1. Expired listings with a twist
When looking for opportunities, it’s vitally important to identify trends. Mackin said that the number of expired listings has doubled in the past 12 months.
“I think we got away from some of the blocking and tackling strategies, like working expired listings, because in 2021, expired listings really weren’t a big percentage of the market. In real estate, we are such creatures of habit that when we stop doing something, chances are we are not going to immediately pick back up doing that activity when the opportunity first presents itself again,” he said.
First, you should realize that even if expired listings are a small portion of the opportunity in your market today, Mackin believes that opportunity will grow and create a “blue ocean of opportunity.” He doesn’t believe that expireds are part of the average agent’s seller attraction blueprint.
“But everyone needs to realize there is a right and a wrong way to market to expired listings, and if done correctly, it can attract everything from average sales price homes to ultra-luxury listings. The reason the specific letter below is so effective is that it utilizes a copywriting framework called PAS,” Mackin said.
The P stands for pain. What pain points does the prospect have? The more specific you can get, the easier it will be to connect with them on a deeper level. The A is for agitate, which involves identifying the secondary effects of the pain. This is where you drive home your understanding of their pain and frustrations. The S is for solution, and this is where you share your solution to their problem.
Utilizing that framework, this is the expired letter Mackin has used to get tremendous results with expired listings.
Now that your home didn’t sell, you’ve had a wave of agents promising you “they can get the deal done.”
You’ve heard this story before.
You’re not buying it.
At this point, you’re frustrated, you’re disappointed, and likely pretty annoyed because your phone hasn’t stopped ringing for the last two weeks.
If a home doesn’t sell, it is for three reasons:
1. It was priced incorrectly
2. It didn’t get enough exposure
3. It wasn’t presented properly
Now, if you believe the reason your home didn’t sell is No. 1 …
You don’t need another agent; you just need a lower price.
But if you believe the reason the home didn’t sell is because of reason No. 2 or No. 3, this is where we can help.
To sell for top dollar, there are 10 essential marketing tactics.
I’ve reviewed your home on the MLS, and you are missing six of them.
I’m confident that if we fix them, we could sell your home for $865,000.
Even if you’re not planning on relist your home, I’d love the opportunity to share with you my insight on what to do to ensure you don’t have to experience this again.
My personal cell is (XXX) XXX-XXXX.
I look forward to hearing from you.
(Your Name)
2. Direct mail reimagined
As we shifted our conversation to the second strategy, Mackin said, “Oftentimes in marketing, we get attracted to the shiniest new object. Meanwhile, behind the scenes, the tried-and-true strategy of direct mail is generating $39 billion dollars worth of revenue. There is such an opportunity right now to reimagine how we do direct mail.”
Below is an example of what Mackin calls the ZVA (Zillow Versus Agent) strategy. To utilize this strategy, tell the story of a home you recently sold above the Zestimate published on Zillow.
“Most people don’t realize this, but if you go on Zillow and you click the link below a home’s Zestimate titled “Zestimate History,” it will provide you the Zestimate history of the home,” Mackin said.
Start by taking a screenshot of the Zestimate before the home was sold and one of the Zestimate after the home sale. Put these two screenshots on a postcard to showcase the difference between the sale price and the original Zestimate. Next to the two photos, list what the Zestimate said the home was worth versus what you sold it for.
“This difference creates a curiosity gap in the mind of the consumer, and if you can get the prospect to question what they believe, then it will lead to conversations. In this case, most consumers assume the Sestimate of their home is generally correct,” Mackin said. “What this strategy does is avoid doing what every other agent does, which is “just sold” cards that say sold above asking price with multiple offers in just a few days. Instead, this creates a curiosity gap that leads to more listings.”
Here’s an example of a ZVA direct mail piece:
3. Seller activation emails
Many agents have databases filled with homeowners, but most agents aren’t sure how to create opportunities for meaningful conversations.
“The seller activation emails we send begin with a technique known as qualify through copy. What that means is that if somebody opens the email we send with a specific subject line, that tells me there is a level of interest and a minimum, they should be on my call list for that week,” Mackin said.
The following is an example of the exact text many of his clients have used to generate listing opportunities and the background for each line.
The subject line began with a qualify through copy line: Would you sell if … ?
In this example, he opens the message with a statistic from a study Bankrate did discussing the increased cost of maintaining a home:
I just read that the annual cost of maintaining a home is 26 percent higher than four years ago.
The next line is used to turn on the herd mentality, meaning people tend to be drawn toward or act based on what others do.
This is why many sellers are cashing in on the equity they’ve gained recently.
The last line is what Mackin calls an irresistible hook.
I know this is probably a crazy question — but if you got a great offer, would you consider selling?
If you’re looking for a way to engage with the homeowners in your database who may be considering selling, this email can make it happen.
4. Appointment sales letters
Our conversation then moved to his fourth strategy for generating listings. “The appointment sales letter may be the best new strategy that people have never heard of. The reason this is so effective is that most people believe when they take a listing is the time when they should start promoting to that neighborhood, and I believe the best time to turn the marketing machine on is when you book an appointment instead of waiting,” Mackin continued.
“Although this example is a mail piece, this strategy could be done via a phone call as well. It could also be modified to use for a listing appointment, open house, or showing a home in any neighborhood.”
This is an example of his appointment letter:
“Think of it like the promotion of a movie. You promote it before it goes live, right before it goes live, once it is live, and after it has gone live. Every opportunity you have to create a buzz around your business, you have to take advantage of it, and this is a powerful way to turn every appointment into two or three more,” Mackin said.
5. Circle dialing scripts that convert
“If you don’t have a high budget and you’re looking for high intent, ready to move opportunities, circle dialing is one of the most effective strategies. The process of circle dialing is calling around a recent marketable moment like a new listing, open house or recent sale to make the neighbors aware of the activity,” Mackin explained.
The following is an example of the script Mackin gave for a recent sale:
Agent: This is (agent name) with (agent’s company). I know that you’re not expecting my call. The reason I’m calling is the home at (address) near your home recently sold. Has anyone called to give you the details?
Homeowner: No.
Agent: Well, I’ve got a few minutes before my next call. Let me share a few details you should know about this sale.
If the subject of their home doesn’t come up, ask the following question:
Agent: Before we hang up, I’d be a terrible real estate agent if I didn’t at least ask, is there a price where you might consider selling?
With all the focus on buyer agency, now is the time to sharpen your listing generation skills and to try new strategies. Lean into these five, and the results will follow.
Jimmy Mackin can be found on Instagram or his website.
Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Instagram and LinkedIn.
by Christian Ashley Harris | Aug 8, 2024 | Industry, News Feed
Dubbed Powered by Offerpad, the platform enables the iBuyers’s PRO and MAX agent partners to manage listings, get real-time transaction updates and directly communicate with Offerpad support staff.
Innovation is in our DNA at Inman — that’s why we’re excited about August’s Technology and Innovation Month. We’ll kick it off by celebrating the companies and individuals pushing the industry forward with an expanded slate of Inman Innovator Awards at Inman Connect Las Vegas. Then, we’ll continue to celebrate the brightest minds in real estate all month long.
Seven months after revamping its Agent Partner Program, Arizona-based iBuyer Offerpad has released Powered by Offerpad, a new platform geared at helping its agent partners manage their transactions quickly and seamlessly.
Brigham Weight | Credit: LinkedIn
“Offerpad is dedicated to empowering agents by offering robust support and enhanced incentives to thrive in today’s competitive market,” Offerpad VP of Business Development Brigham Weight said in a prepared statement. “Through our innovative use of technology, we aim to simplify transactions and partnerships across the real estate industry.”
Through the platform, Offerpad PRO and MAX members can view cash offers, access detailed homeseller and property information, and manage homeseller leads and referrals. The platform also gives members real-time updates on Offerpad listings and transactions and allows members to chat instantly with Offerpad support staff.
“Powered by Offerpad achieves this with an intuitive dashboard, real-time information access, and straightforward tools for obtaining the answers and resources agents need,” Weight added.
Offerpad said the launch of Powered by Offerpad comes on the heels of impressive Agent Partner Program growth during the first half of the year. From January to June, the program accounted for 23 percent of all Offerpad requests — a 91 percent increase from the first half of 2023 (12 percent).
Offerpad unveiled its revamped Agent Partner Program tiers, dubbed Offerpad PRO and Offerpad MAX, in January.
With Offerpad PRO, listing agents can earn a 4 percent referral fee through the “sell then list” initiative, which allows agents to receive a 3 percent referral fee when their client sells to Offerpad and an additional 1 percent fee by selling the home again on behalf of Offerpad.
The invite-only MAX tier offers the same “sell then list” opportunity; however, agents can also purchase designated zones, where they’ll list Offerpad-owned homes and receive exclusive access to the “Start with Sold” backup cash offer program for homesellers listing on the open market.
“Since our inception, our primary mission has been to streamline the home buying and selling journey for consumers,” Offerpad SVP of Growth Kyle Rush told Inman in January. “This dedication is the very reason our company was founded. Sellers opting for representation by an agent can still enjoy the advantages of receiving cash offers from us, as we continue to prioritize this foundational focus.”
“Agents who partner with Offerpad can not only expect to increase their earnings substantially but also gain access to an extensive suite of tools to diversify their consumer offerings,” he added.
Offerpad teased the launch of Powered by Offerpad in its second-quarter earnings report on Tuesday, which saw the company’s revenue decline 12 percent from Q1. However, Offerpad is gaining ground on slimming net losses and bolstering its gross margins and gross profit per home, which increased 10 percent to $29,500.
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by Jill Butler | Aug 8, 2024 | Industry, News Feed
Spanish climate activist group Futuro Vegetal smeared the star footballer’s mansion in red and black paint to blame the rich for the climate crisis, while also highlighting the lack of action on the part of the Spanish government, the group said.
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Spanish climate activist group Futuro Vegetal set its sights on the Ibiza mansion of soccer star Lionel Messi this week, vandalizing the $12 million property with spray paint and posting the results on Instagram, according to various reports.
After breaching the luxury estate, the group spray painted the side of the home in red and black paint and unfurled a banner outside the entrance that said, “Help the planet, eat the rich, abolish the police.”
Members of the group then posed for photos outside of the home.
Futuro Vegetal is known for its extreme tactics. The group’s foundations are based in civil disobedience and direct action in order to fight the climate crisis through a plant-based agri-food system, according to the group’s website.
Futuro Vegetal called Messi’s mansion an “illegal construction” and emphasized the impact the climate crisis is having on the Balearic Islands, which is where Ibiza is located.
“The richest 1 percent of the population is responsible for the same amount of carbon emissions as the poorest two-thirds,” Futuro Vegetal said. “We need a radical change of system to face the Climate Crisis.”
Messi bought the estate in 2022 and often visits with his wife, Antonela Roccuzzo, and the couple’s three children. He was not at the property when the vandalism occurred.
The native Argentinian, who now plays for Inter Miami, had fans enthralled during his performance at the Copa América tournament this summer, where he helped lead the Argentina national football team to victory.
Messi is currently taking a break from playing after returning from the tournament with an ankle injury, from which he is still recovering.
Messi has not publicly responded to the vandalism, but Argentina’s president, Javier Milei, showed his solidarity for the athlete while also placing blame on “Spanish communists.”
“In Spain, communists who want to ‘murder the rich and abolish the police to end climate change’ vandalized a home of Lionel Messi and his family,” Milei posted on X. “I stand in solidarity with the Messi family for this cowardly and delusional event and I ask Pedro Sanchez’s government to guarantee the safety of the Argentine citizens who live in the Kingdom of Spain.”
Futuro Vegetal said in a statement that the act was meant to blame the rich for the climate crisis, while also highlighting the lack of action on the part of the Spanish government.
The Ibiza property is just one of several Messi owns around the world. The footballer owns an $11 million mansion in Fort Lauderdale, a $7 million property near Barcelona, and numerous other multimillion-dollar properties in Florida, as well as a residence in his hometown of Rosario, Argentina.
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