by Verl Workman | Jul 30, 2024 | Industry, News Feed
REAL Dallas Properties & Management brings its 70-agent team to United in a move that both parties say benefits consumers and agents.
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United Real Estate announced on Tuesday that it would continue its expansion in Texas with the addition of the 70-agent REAL Dallas Properties & Management.
REAL became the third brokerage to join United in the past 12 months, the brokerage said. It now has more than 800 agents across North Temple.
REAL Dallas Properties agents who transition will move onto United’s transaction-fee model, which the firm says will help give agents more control over negotiating competitive fees with their clients.
That’s particularly relevant, as the changes outlined in the settlement agreement brokered by the National Association of Realtors are set to take effect Aug. 17. The changes are expected to put more focus and transparency around agent commissions.
“We are thrilled about our merger with United because we feel the culture and commission model are the right fit,” REAL Dallas broker/owner Luna Zenati said. “We are blending the best of both worlds: maintaining our culture and strong group of agents while adding a national partner and its array of resources at no cost to our agents.”
Zenati said REAL agents should expect to earn more money as a result of the merger.
“They are getting a raise. Not to mention, they can access exciting services they never had before, such as PPO health plans, wealth management & retirement planning, LeadBoost, Marketing Hub and national training,” Zenati said in a statement. “We are upgrading and becoming better versions of ourselves.”
United Real Estate was founded in 2011 and has grown into one of the largest brokerages in the country by volume.
“With upcoming changes in our industry, we are preparing our agents with the flexibility in how they do business,” United owner Nieke Valadez said in a statement. “Our transition from a brokerage commission-split model to a transaction-fee model means they can negotiate more competitive client fees and win more business in any type of market.”
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by Andrew Reichek | Jul 30, 2024 | Industry, News Feed
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When creating a brand, professionals often get caught up in the aesthetics — the trendy font, the eye-catching color scheme or the unique logo. While those things matter, four branding experts said the secret sauce lies in creating a distinct, authentic feeling that homebuyers and homesellers won’t forget.
Agent Upgrade co-founder Kevin Knight asked the Inman Connect MARTECH — short for marketing tech — crowd to imagine walking into a grocery store and going to an aisle with rows and rows of brightly-colored bags of chips. Many of the chips on the aisle are made with the same ingredients and have similar taste profiles. But what makes you choose Plain Lays potato chips over another brand? Or what makes sour cream and onion Ruffles the right choice for a family barbecue instead of Cheetos?
“Who are you marketing to? Who’s gonna buy your products? Spoiler alert: it’s not everyone,” Knight said on Tuesday while standing in front of a screen emblazoned with rows of chips. “What attracts that audience to you, right? For the barbecuing dad, it could be the sour cream and onion ridges on Ruffles that resonate with him and that’s what attracts it. That would be a value.”
“Then you’ve got your style, how you present yourself, how you communicate. It’s what you drive. It’s what you wear,” he added. “It’s how you talk. And then you’ve got the essence. And the essence is, ultimately, that feeling that you leave people with after every interaction with your brand.”
Sydney Miller and Kevin Knight | Credit: AJ Canaria Creative Services
Knight and his business partner, Sydney Miller, pointed to Whole Foods, Trader Joe’s, REI Co-Op, Mercedes Benz, BMW and Volvo as shining examples of branding done right. Each company, they said, has a clear vision of its target consumer and has built a brand that connects with its consumers’ pathos.
“REI is a brand that [reflects its values] extremely well,” Miller said. One of the campaigns that they did that I think really shows their values is a campaign they did a few years back called Opt Outside. Basically, on Black Friday, they shut their doors, which is unheard of, right, for like a big retail store.”
“They said, ‘You know what? Instead of going shopping at REI, we’re gonna be closed. Go outside,’” she added. “And what does that show you? It shows you that REI values its values more than even making sales … That is how they’re able to really build this loyal community around them — because they stand for something.”
Miller and Knight said setting company values and boldly following through on them — a la REI — is what gives a company name or logo meaning. To prove the point, they flashed logos for Mercedes Benz, BMW and Volvo and asked the audience to yell what words come to mind.
“Luxury!” someone shouted for Mercedez Benz. “Performance,” another person said about BMW. “Safety,” another attendee said about Volvo.
“People ask me who the strongest brand on earth is,” Knight said. “I think it might actually be Volvo because it doesn’t matter how big a room I do this in, anywhere in the country, when I show the Volvo logo, everyone sees safety.”
“To Sydney’s point, you don’t have to say it necessarily. This is not a tagline or a slogan or something like that,” he added. “This is how you communicate your whole self in every single interaction.”
Moderator Katie Kossev with Griff O’Brien and Elias Astuto | Credit: AJ Canaria Creative Services
In a separate session, Estate Media co-founder and CEO Griff O’Brien and #TEAMFAST Powered by eXp Realty Director of Sales and Coaching Elias Astuto said video content is the most effective and dynamic way for agents to strengthen their brands and stoke growth through authenticity.
“The opportunity is for us to speak our voice, our purpose, our cause, our crusade, our mission,” Astuto said of video content. “When you’re aligned with that, then what happens is that you have a sense of freedom. But I feel like we all battle at some level when we’re starting out in this game with the imposter syndrome.”
“Well, the moment that you can get rid of that imposter syndrome and just be whoever the heck you are and be comfortable with it, I think that’s when the freedom comes in,” he added. And now you’re free to be yourself; it’s like being in a good relationship. But don’t chase the vanity…”
Astuto said agents need to focus on providing substance in their videos, which gives your sphere of influence a clear, realistic picture of who you are and what you bring to the table. O’Brien said that focus on substance extends to the visual mediums agents choose to connect with their audience.
“If you try to force someone right into a medium, or a series, or some piece of content that they are not excited about, it’s going to show, and it’s going to come through on screen,” O’Brien said. “So we’re really focused on creating IP and assets with talent, whether that’s a newsletter, whether that’s a podcast, whether that’s a video series, it might be [an] option for television.”
“It always starts, again, with what you are an expert in, what you like, and what challenges you are currently facing,” he added. We always start from that central premise of, again, what you have perhaps wanted to do that you have not been able to, and how can we then help get that done?”
Although most agents’ goal for video content is monetization, both men said agents must have other motivating factors, as growth may come slowly. Once agents are clear about their main motivations and who they want to connect with, they can stick to a plan that provides satisfaction and long-term success.
“As you’re starting out, ask yourself a very simple question. Who is this video for?” Astuto said. “If you’re a mom and you’re balancing being a mom and a wife and an entrepreneur, create that type of content because then other people see it like, ‘Wow, if she can do it, I can do it.’”
“At the end of the day, it’s what’s in it for them, and then leveraging other people’s audience,” he added. “If you’re out in a community, you’re shooting a video at the local bakery, or wherever it is, you tag that company, and your hope is that they repost that. Then their audience gets to see your face.”
“I’m like, ‘Oh, I like that bakery. She likes that bakery. I might want to follow her,’” he added. “Then they go to your page and they see your lifestyle. They see the things that you are doing with your family, who you are as a human. And you know what? Now I want to stay.”
If this sounds daunting, both men said agents can start by building a robust email list that’s not subject to wild algorithmic changes on social media sites and creating content buckets that make it easier to generate posts. Some of Astuto’s favorite content buckets are inspirational, educational and conversational — each one creates a dialogue between an agent and their audience.
“How can I produce something that is shareable, saveable and of substance?” Astuto said. I don’t care about the vanity metrics. I want to know how many people are actually going to save this, come back to this, and how much value that is. When you stop chasing vanity, then you can start to be more yourself.”
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by Angela Yungk | Jul 30, 2024 | Industry, News Feed
CHICAGO (July 30, 2024) – The National Association of REALTORS® (NAR) today published new resources to help guide consumers on the impact of the March 15th settlement agreement (“Settlement”) and support both REALTORS® and consumers as they navigate the changes required by the agreement.
“Prior to and throughout the Settlement litigation, NAR has remained committed to protecting consumer choice and transparency, and to making homeownership accessible for all Americans,” said Nykia Wright, Interim CEO of NAR. “With these new resources, REALTORS® are even better equipped to inform and empower consumers and continue to demonstrate the value they bring to real estate transactions.”
The new resources are all available on facts.realtor, NAR’s centralized website for information on the settlement, and include:
- Fact sheets on what the practice changes mean for homebuyers and home sellers. These resources—one for sellers and one for buyers—outline what buyers and sellers should expect after Aug. 17 and the value REALTORS® provide to consumers in these transactions.
- A broker’s guide to upcoming practice changes. These slides provide an overview of the settlement, information on corresponding practice changes and implementation, and guidance on how to help consumers understand what these changes mean for them and their homebuying or selling transactions.
- A template compensation disclosure for active listing or buyer agreements as of Aug. 17. The template disclosure can be used for active agreements as of Aug. 17 that will need to be amended or supplemented with a separate disclosure to conspicuously note that compensation is not set by law and is fully negotiable. For more information on requirements for amending active listing or buyer agreements, please see FAQs #52, #53, #71, and #72.
For more information on the Settlement and what it means for members and consumers, please visit facts.realtor.
About the National Association of Realtors®
The National Association of Realtors® is America’s largest trade association, representing 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.
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by Yamila Gagliano | Jul 30, 2024 | Industry, News Feed
Daniel McVicar, Eloy Carmenate and Victoria Levitam spoke at Inman Luxury Connect in Las Vegas on Tuesday in a panel titled “From City to City: Trends & Opportunities in Emerging Luxury Markets.”
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Want to succeed in the international real estate market? Know your audience.
That’s according to panelists at Inman’s Luxury Connect event in Las Vegas Tuesday, who spoke at a session called “From City to City: Trends & Opportunities in Emerging Luxury Markets.”
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“When a high-net-worth individual in our network is referred, this is a person that is referred with a lot of care and I respect that,” said Daniel McVicar, ambassador and global director for Santandrea Luxury Homes & Top Properties in Milan, Italy.
“In the luxury market, it’s essential that people are taken care of. You don’t want to lose a client because you referred them to the wrong person. You don’t want to lose a friend because you referred them to the wrong person. I consider them friends and family when I receive the referral.”
Eloy Carmenate, a broker associate at Corcoran in Miami, agreed.
“Your client is trusting you to connect to somebody who is important,” Carmenate said. “Network is everything. You have to know the right people.”
In order to do that, you have to become an expert on your clientele, according to Carmenate. He knows where his clients live, where they have second homes, where they travel, how many kids they have, how many times they’ve been married.
“We know a lot about them,” Carmenate said.
You also have to travel to the places you hear your clients talking about, he added.
“Typically, it’s Spain, France, Italy and the U.K.,” he said. “Athens is emerging and we’ve all heard about the phenomenon that’s going on in Portugal.”
You also build your network through the people your clients introduce you to, Carmenate said, noting he had met a recent client with a Swiss connection at an American wedding.
“You never know where the next one is going to come from,” he said.
Victoria Levitam, managing partner at The Agency in Panama City, Panama, knows what her clients want and is using that to sell them on buying in her “very special country.”
“Panama is not just a destination; it’s an incredible opportunity,” Levitam said. “It’s the Singapore of the Americas. Everything in real estate is about location, location, location. Panama is the heart of the world, the heart of the Americas. The connectivity is amazing.”
“We have one of the seven wonders of the world, which is the Panama Canal. It has for several decades been one of the best-kept secrets for local elites and top business leaders around the world where they have chosen Panama because of its capable business environment, logistics and connectivity and security as well.”
Carmenate jumped in. “I’m going to be using you for my referrals. She’s sold me on Panama. I’m going to be visiting there very soon.”
McVicar, who is also a television actor, drew a connection between performing for a broader audience to performing for a client.
“There’s a big crossover,” he said. “Really, you’re a public figure when you’re a real estate professional.”
He advised agents to be themselves, but a version of themselves they create.
“Create a character for yourself to be that character,” he said. “And of course, the secret to acting is listening.”
Asked about emerging markets, Carmenate named Singapore, Dubai and Milan, all of which have good weather, tax conditions and healthcare. He advised agents to stay informed.
“If you’re going to raise the bar with your own clientele, you have to know what you’re talking about,” he said.
“You have to know what’s going on in the world.”
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by Mariya Gordon | Jul 30, 2024 | Industry, News Feed
Matterport appeals lower court ruling that awarded $79 million to former CEO Bill Brown over rules that prevented him from selling his shares when the company went public.
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Matterport on Tuesday appealed a court ruling that found the company’s ex-CEO was entitled to $79 million over an issue stemming from its initial public offering in 2021.
The leading 3D digital home scanning company filed a notice of appeal on Tuesday with the Delaware Supreme Court in a case that could have implications for an ongoing sale to CoStar.
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The appeal comes just days after Matterport’s shareholders voted overwhelmingly to approve the sale to CoStar. It seeks to challenge a lower court ruling that found the company improperly prevented former CEO William Brown from selling his shares before the company went public in 2021.
In late May, Vice Chancellor Lori W. Will ruled that Brown was entitled to collect money from Matterport based on the company’s higher share price when it went public.
Former Matterport CEO Bill Brown is entitled to recoup $79 million from the company he once led. Brown had sought to recoup $141 million from the company, an amount he came to based on the peak value of his shares when Matterport went public.
The opinion came at a sensitive time for Matterport, which CoStar is attempting to buy for $1.6 billion. CoStar CEO Andy Florance told Inman this month that the sale was on track and passing through regulatory review. He didn’t mention the legal issue with Brown.
“What we know is that a high-quality, easy-to-build, 3D digital twin is the best way to experience real estate online. And it’s been underutilized in commercial real estate, in residential real estate,” Florence said.
Florence has said he has no intention of making Matterport’s features exclusive to real estate professionals using Homes.com.
“We’re going to provide it to anyone. Everybody,” Florance said. “What we’re doing is Homes Pro members, we’ll just Matterport their listings and generate floor plans. But anyone that wants to do Matterport, that’s fantastic. We think we win by jumpstarting demand, by putting Matterport up on homes.”
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by Amy Stockberger | Jul 30, 2024 | Industry, News Feed
As agents face attacks on their value from all sides, the most important thing they can do today is to focus on boosting client relationships, the Glennda Baker & Associates leader said to Inman Connect Las Vegas attendees.
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Glennda Baker, considered by many to be the real estate industry’s queen of social media, did not come to Inman Connect Las Vegas to discuss video.
The leader of Glennda Baker & Associates at Coldwell Banker had something more pressing to talk about on Tuesday: relationships reimagined.
“There has never been a more important time to be in a relationship with your client,” Baker told an energetic Inman Connect audience Tuesday at the Aria Resort & Casino in Las Vegas.
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“Everybody is telling the consumer that we’re not worth it. We’re not worth the money,” Baker told the crowd. “All we do is open doors. All we do is take you on a tour. We’re glorified tour guides. I disagree with that.”
For a long time, agents have been slotted into a service provider role, Baker continued, but today, client relationships are more important to focus on.
Baker took the opportunity to take a subtle dig at Zillow and its vision for the industry.
“There’s this tech provider — I won’t say their name on video — and they think they can replace us with their platform,” Baker said. “Ladies and gentlemen, we’re not here to be replaced.”
“Everybody wants a piece of the commission and that’s why it’s so important to be in a relationship with your client — so you’re not replaceable and they don’t forget you.”
Baker went on to explain how an agent’s past clients and sphere of influence, their community, and their agent-to-agent referrals are the biggest relationships that pay back in terms of returns.
When Baker creates a new relationship, instead of inputting details that will get lost in the vast black hole of a CRM, she puts their contact information, photo and any notes about what she’s learned about them as a new contact into her phone.
“You gotta take soft and hard notes, and you’ve got to exchange life stories,” she said.
In addition to exchanging stories and becoming a source for everything for clients, agents should also learn how to be a stalker, Baker said, tongue-in-cheek.
“This is where I’m supposed to tell you, it’s ok to be a stalker,” she told the Connect audience. “If someone posts something on Facebook or Instagram, they want you to know about it … It’s a great opportunity for you to memorialize it for them.”
“If you’re not capitalizing on the birthdays on Facebook, what are you doing?” she later added. “Y’all, it’s free.”
Baker said she likes to “surprise and delight” people in her circle by wishing them a happy birthday with a customized video or by sending them cupcakes.
She also likes to host events that “create endless opportunity” for client connection, Baker added, like her “coffee and comps” event, where she hosts coffee and discusses neighborhood comps and one of her new listings, or her “eight at eight” event, where she invites three couples to her home for dinner made by a private chef.
She also hosts an “appetizers and appraisals” event, which clients find especially helpful in today’s market. “People have never been more confused about the value of their home than they are today,” Baker noted.
Breaking bread with people or inviting them into your home establishes a more personal connection, Baker noted. During these types of interactions, clients cross the threshold from just being a client into being a friend. The same transformation occurs when agents help clients memorialize the milestones in their lives.
Baker added that, although closing gifts can be tricky, they are one more way to establish a more personal connection with a client.
“Some people don’t believe in closing gifts,” Baker said. “I’ll be honest with you, they’re tricky. You sell someone a $1 million home, what gift do you give them? They can buy whatever they want.”
One gift that has worked well for Baker is a cake with a photo of the client’s new home on it. Her clients have cherished the gift, even if they’re celebrities.
“He saved that cake; he wouldn’t let anybody eat it, because it meant that much to him,” Baker said of one high-end client in Atlanta who she helped purchase his first home. “That guy bought a $2.3 million house — he can buy anything he wants.”
As Baker showed off the custom gift wrap she has made with her face printed all over it (courtesy of giftwrapmyface.com), she expressed her gratitude at the Inman Connect audience for sharing their time with her.
“I love being a real estate agent,” Baker said. “I’m honored that Inman gives me a platform to stand up and speak to you. It means more tho me than you’ll ever know that you took time to sit here. But more than anything else, is that you gave me your attention. Give that attention to your clients. Treat them like the valuable asset that they are.”
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