Brokers Best

Brokers Best provides the same high-quality information available in Real Estate Broker’s Insider in a brief email format. You may read past issues in chronological order and search for key topics. Free sign up is required.

Lawsuits Illustrate New Legal Risks from Marketing by Text Message

June 13, 2019
Realogy Corp. and two brokerages in Florida are defending themselves against potentially costly allegations that, in the course of marketing homes, their agents sent text messages in a manner that broke federal law. The Telephone Consumer Protection Act (TCPA) prohibits sending text messages using auto dialers without first getting consumer consent and giving the consumer…To read more — login/sign up


Identifying the Traits of Top Agents

May 30, 2019
For brokers hiring salespeople, figuring out who’s going to be a productive agent is a constant challenge. Hiring is a blend of art and science that vexes even the savviest recruiters. Jess Biller, president of Paramount Consulting Group, has gained industry-wide attention recently for an intriguing bit of research that he conducted into the personalities…To read more — login/sign up


Millennials Become More Active Buyers

May 16, 2019
Home purchases by millennials ticked up in 2018, but tight inventories and rising prices put the brakes on their buying activity. According to NAR’s Home Buyer and Seller Generational Trends 2018 study, 36 percent of all home purchases in 2018 were by millennials, up from 34 percent in 2017. Other notable generational trends from the report include:…To read more — login/sign up


Another Threat: Zero Commission Listings

May 2, 2019
For decades, traditional brokers have lamented — and adapted to — downward pressure on commissions. The 1 percent that Redfin charges sellers in high-priced cities seemed to mark a nadir, but now discounted fees are falling even lower: Two startups aim to further tighten the squeeze by charging sellers nothing. In California and Texas, Top…To read more — login/sign up


Broker Pays Veteran Agents to Act as Mentors to Rookies

April 18, 2019
Like many brokers, Exit Realty franchisee Victor DeFrisco grew frustrated by the high turnover rate for new agents at his company. Even with company-offered training and mentoring, his 120-agent brokerage in Lake Worth, FL, saw new agents washing out of the business at a frustratingly high rate. To address that common problem, DeFrisco decided to…To read more — login/sign up


Raise Production Standards for Agents

April 4, 2019
As a sales manager at Long & Foster, Weichert Realtors, and Coldwell Banker, Dean Cottrill learned the value of imposing minimum standards on agents. Cottrill, now president of brokerage consulting at T3 Sixty, says savvy brokers aren’t afraid to set performance standards for agents. The benefits are obvious: Running a team of only productive agents…To read more — login/sign up


Don’t Overlook Down-Payment Assistance Programs

March 21, 2019
In a housing market characterized by record-high home prices, first-time buyers struggle to cobble together down payments. That’s a common complaint, but there’s a glimmer of good news: Help is available for buyers and agents who know where to look for it. Nationally, there are some 2,500 down-payment assistance programs giving buyers access to hundreds…To read more — login/sign up


Contract-Writing Boot Camp Pays Dividends

March 7, 2019
As Ebbie Smith progressed in her sales career, she often wondered why no one ever taught her to write contracts. After all, contract writing is an area where agents often feel overmatched. It’s a task that requires agents to briefly play lawyer, a daunting chore for folks more accustomed to generating leads, marketing properties, and…To read more — login/sign up


Amid Pressure on Commissions, Here’s How to Defend Yours

February 21, 2019
When Michael Lee started selling real estate in 1977, Realtors insisted on — and got — commissions of 6 percent or 7 percent. Four decades later, the real estate industry has changed. "Trust me — this is not going away," says Lee, author and training manager at Realty ONE Group BMC Associates. That doesn’t mean…To read more — login/sign up


Agent-Owned Company Offers Unique Benefits

February 7, 2019
When Thomas Heimann thought about how to structure his startup real estate company, he was inspired by the partnership model favored by law firms and consulting companies. In 2016, Heimann launched Realty Partners, a company that’s marketing itself to agents not only as a brokerage owned by agents but one where agents retain most of…To read more — login/sign up