REIMAGINING REAL ESTATE TECHNOLOGY - Elm Street Is Changing the Tech Game by Flipping the Narrative and Putting People First - RISMedia
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REIMAGINING REAL ESTATE TECHNOLOGY Elm Street Is Changing the Tech Game by Flipping the Narrative and Putting People First Members of the executive team, photographed at Elm Street’s corporate office in Frisco, Texas. Front, seated: Sean McGee, CTO Back L to R: Bondilyn Jolly, CMO; Jason Lindwall, COO; Prem Luthra, June 2022 President and CEO; Shawn Connolly, GM, Elevate CRM $7.95
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INSIDE THE COVER
Prem Luthra has a long history of launching
successful real estate technology, and he’s done
it once again with Elm Street. In this month’s cover
story, beginning on page 38, find out how he
and his team have built an all-inclusive, people-
first platform that is changing the game for real
estate pros.
INFORMATION IS POWER
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RISMedia’s REAL ESTATE June 2022 3
CONTENTS
June 2022/Vol. 38, No. 6
ON THE COVER
38 Reimagining Real Estate Technology
Elm Street Is Changing the Tech Game by Flipping the Narrative and
Putting People First
There’s a lot of noise in the real estate technology space today, and tech fatigue
is running rampant as brokerages continue to chase the next shiny object and
throw significant sums of money at tools that don’t play nicely with one another.
A bona fide problem in real estate, this tech fatigue is causing many professionals
to become frustrated with the products and services available to help them
succeed. There’s no denying that brokers and agents are spending too much time,
energy and money managing technology vendors. On a mission to streamline
the experience from beginning to end, Elm Street is doubling down on their
commitment to cut through the clutter. In this month’s cover story, take a closer look
at how Elm Street is reimagining real estate technology as we know it.
21
HIGHLIGHTS
48 It Takes a ‘Vyllage’ to Foster a
Culture of Success
This month, learn about Vylla
Home’s belief in the importance of
maintaining a culture that inspires,
recognizes and supports its agents.
54 Training Strategies and Best
Practices to Rise Above the
Crowd
Here, Rocket Mortgage’s
Mackenzie Moug discusses
strengthening the professional bond
between agents and their clients.
64 Winning With Culture
In this exclusive feature, JBGoodwin
REALTORS® discusses the
importance of fostering a strong
company culture.
58
HEADLINERS
11 Marketwatch
12 NAR Power Broker
Roundtable: Exclusive Listings: Is
There an Upside?
14 Women in Real Estate: Real
Estate Influencer Goes Viral on
TikTok
17 Meet the Newsmakers: Industry
Leaders Go Green
21 Policy & Legal Matters: NAR
Secures Courtroom Victory in Leeder
Case
4 June 2022 RISMedia’s REAL ESTATE
BROKER STRATEGIES
76 Dean A. deTonnancourt,
48
HomeSmart Professionals Real
Estate
77 Carol Drake and Rick
Rogers, United Real Estate
Houston; Texas United Realty
TEAM TALK
80 Power Team Profile – Giving
Back: A Priority for Florida Team
83 Verl Workman – Setting
22 CRD Connect: Marketing by 50 Family Values Anchor Boundaries to Achieve Success,
Generation: Your Shortcut to a Gibson Sotheby’s Success Professionally and Personally
Targeted Marketing Strategy 57 Real Estate Webmasters
27 Broker Perspectives: Paul G. Makes a Big Investment in
Yorkis Customer Success EVERY ISSUE
58 Reexamining the 3 Happening This Month
Conversation Surrounding @RISMedia
COACHING Unconscious Bias and
Discrimination in Real Estate 7 From the Publisher
29 The Experts at McKissock
Learning – How Professional 62 Global Spotlight: Indulge in 18 Great Spaces
Development Helps Agents Earn Tasmania’s Island State of
Mind 84 Service Profiles
More
92 Referrals
30 Sherri Johnson – 6
Accountability Strategies to TRENDS & ISSUES 95 Index of Advertisers
Improve Agent Productivity 96 RE: Real Estate — Championing
66 Michael Minard – Is 100%
31 Darryl Davis – Prospecting Adoption of Agent Technology Homeownership for All
With an Abundance Mindset Possible?
32 Terri Murphy – Secrets to 67 Nishika Green – Mindfulness
Getting More Inventory Fast as a Strategy for Your Real Estate 70
Business
68 Brien McMahon – A
BUSINESS BUILDERS Complex Market Requires More
34 American Home Shield®: Sophisticated Tools
Offering Support and Confidence
69 Flavio Jimenez – Committed to
With a Home Warranty
Serving the Hispanic Community
35 Buffini & Company: Investing
70 Allen Alishahi – Web 3.0: The
in Yourself and Your Business
Next Big Thing
36 Curbio: Home Improvement
72 Venkatesh Ganapathy –
Redefined
Delivering Value Throughout Every
37 Rocket Mortgage: Service That Phase of the Homeownership
Keeps Your Business Growing Journey
73 Jesse Williams – Fed Proposes
Major Update to Fair Lending Law
FEATURES 74 Dan Steward – How Pre-Listing
44 Real Estate Relationship Home Inspections Benefit You and
Building in the Digital Age Your Clients
RISMedia’s REAL ESTATE June 2022 5
R E A LT O R S ®
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FROM THE PUBLISHER
Technology’s Role in Our Future
T
he team and I recently returned
from the REALTORS ® Legislative
Meetings (fondly known as NAR
Midyear to us industry vets), held “In order to garner
in a brand-new location—National additional followers, you
Harbor, Maryland. Judging by the
healthy crowd and high-energy vibe, have to provide people
the in-person return of this important with content—that’s where
industry event was met with great enthusiasm.
ACESocial comes into play
For me, the most impressive part of the event was the various
conversations taking place. During our annual Power Broker for me.”
Forum, for example, four of our industry’s most dynamic Janice Bradford
brokers convened to discuss the strategies they’re deploying Real Estate Agent, Keller Williams Home Town Realty
to thrive in this changing marketplace. I extend my sincere
appreciation to Carol Bulman, Kymber Menkiti, Todd Heth-
erington and Christina Pappas for sharing so generously
and candidly (find the full recap at rismedia.com).
One of the other crucial topics brought to the forefront Simplify Your Social
was the mounting impact of emerging technology. From
blockchain and NFTs moving real estate toward a “DeFi” Media Strategy
(decentralized finance) environment to the industry’s grow-
RISMedia’s ACESocial is here to help you grow
ing dependence on AI, experts highlighted the technology
your real estate brand with exclusive content
that will facilitate real estate success in the future.
automatically posted across your social media
Prem Luthra is someone who has long understood the
accounts every day! Engage and resonate
symbiotic relationship between technology and real estate
with your audience with an affordable and
success. With several tech start-ups under his belt, Prem has
now brought his expertise to Elm Street, where he and his simple social media strategy.
team have developed a platform that streamlines technology
for real estate professionals. As he says, “We want to be- With ACESocial, you can…
come an easy button for real estate professionals as it relates • Let your friends and followers know who you are
to technology and marketing services.” Meet the Elm Street with customized branded landing pages that
team and learn about their mission starting on page 38. include your logo, headshot, URL and more.
To gain deeper insights into the tech realm, RISMedia • Automatically deliver exclusive consumer-
Premier Members will want to explore our latest Premier focused real estate and lifestyle content,
Exclusive Report—Emerging Tech in Real Estate—available including articles, infographics and professionally
later this month. An exclusive benefit for Premier members, produced videos, to your Facebook, LinkedIn
this is the third in our series of monthly reports. Learn more at and Twitter. Instagram coming soon!
rismedia.com/premier.
• Showcase your MLS listings on your branded
On a final note, don’t miss the chance to nominate an agent
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for RISMedia’s inaugural Real Estate Rookie of the Year
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extraordinary results. Find out more and nominate a deserv- and impressions, with metrics and reporting tools.
ing candidate (or several!) at rismedia.com/rookie-faqs.
Nominations close June 27.
Join ACESocial Today!
Wishing you continued success,
For more information,
visit acesocial.rismedia.com
or contact ace@rismedia.com
John E. Featherston or (203) 855-1234 ext. 1.
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EDITORIAL
Executive Editor Maria Patterson
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Managing Editor Paige Tepping “ACESocial helps me
Content Director Caysey Welton
Content Editor Paige Brown get some relevant
Associate Online Editors Jordan Grice; Jesse Williams
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Contributing Editors Lesley Grand; John Voket; Barbara Pronin; very quickly, for an
inexpensive price.”
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CREATIVE SERVICES & MARKETING
Senior Vice President Kelli McKenna
Lee Goldstein
Marketing Director Philip Lodato
Broker/Owner, InTrust Realty Inc.
Email Marketing Specialist Brit Owen
Production Manager Susanne Dwyer
Associate Designer Janet Yung-Balbin
Video Content Specialist Aidan Whalen
Digital Content Specialists Liz Ruggiero; Paschal Chukwu
CORPORATE DEVELOPMENT Simplify Your Social
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INFORMATION TECHNOLOGY Media Strategy
Chief Information Officer Edward T. Kingston
Senior Software Engineer Kal Salim Grow your real estate brand with
Web Designer Kevin Kirwan
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exclusive content automatically posted
Director, Client Solutions Peter Di Salvo across your social media accounts
Information Technology Manager James Jones
every day! Engage and resonate with
CLIENT SERVICES & EVENTS MANAGEMENT
Vice President, Client Experience Brett Johnson your audience with an affordable and
Director, Client Services & Events Darcy Sledge simple social media strategy.
Client Services Representative Kristen Schlesinger
SALES
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MARKETWATCH
RISING RENT
Rent prices continue to climb nationally, but
have spiked in Florida. Q1 2022 rents in
Naples, up 39% from pre-pandemic levels,
represent the steepest climb in the U.S.
Source: The Washington Post
PENDING HOME SALES
According to the National
Association of REALTORS®, the
Pending Home Sales Index saw
a 1.2% drop to 103.7 in March.
Contract signings increased in
the Northeast, but fell in the other
three regions of the U.S. All regions
reported decreases in year-over-
year contract activity, continuing a
five-month decline.
GROWING MARKETS
The Urban Land Institute ranked the 20
fastest-growing U.S. real estate markets,
with Nashville, Raleigh/Durham and
Phoenix standing as the top three.
VACANCY RATES
Vermont, Maine and Alaska
have the highest vacancy rates at
22.86%, 22.68% and 20.51%,
respectively. This translates to more
than 315,000 unoccupied houses
across the three states. Oregon,
Washington and Connecticut have
the lowest vacancy rates at 7.76%,
7.87% and 8.09%.
Source: LendingTree
RISMedia’s REAL ESTATE June 2022 11NAR POWER BROKER ROUNDTABLE
Exclusive Listings: Shad Bogany, Team Leader, Shad
Bogany Team, Better Homes and
Is There an Upside? Gardens Gary Greene Real Estate,
Houston, Texas: There’s another,
maybe unintended consequence of
Chris Kelly, President & CEO,
keeping a listing exclusive, and that’s
Ebby Halliday Companies, North
maybe a not-so-blatant attempt to keep out a certain seg-
Texas; Broker Relations Liaison,
ment of buyers—and that’s a practice that flies in the face
the National Association of
of fair housing. I can’t even buy the celebrity seller angle be-
REALTORS®: Controversial at the
cause the truth is, most celebrities have their homes in a trust
very least, property listings held as
or held by some corporate entity. Even in the most exclusive
exclusive often evoke a visceral response, both from those
areas, buyers go in to look at a house—they don’t know it
who condemn them as “never appropriate” and those
belongs to Oprah or Denzel or Joe Schmoe. All they know
who reason that they have a place in the scheme of all
is that it does or does not suit their needs, but they can never
things real estate. In today’s prolonged low-inventory
make an offer if they haven’t seen it.
market, with prices soaring and competition keen, the
issue merits examination. Do exclusive listings benefit
CK: So, the problem is abuse of the system, one way or
anyone? And what are the downsides in the view of
another, if I’m hearing you right. Consumers don’t get the
broker professionals committed to ethical business? We’ve
full picture of what’s available, agents lose professional
invited a panel with long-term tenure and a willingness to
credibility with each other and sellers may be missing out
speak their minds. Rosey, can you start us off?
on potential offers.
Rosey Koberlein, Chairperson,
MB: Transparency is key. If we believe in the rule of supply
Long Realty, Tucson, Arizona: I
and demand—that the more eyes on the property, the bet-
suppose you could make a case for
ter the value—then there is no place for exclusive listings,
keeping a listing exclusive if that is what
ever.
the seller demands—celebrity sellers
with custom properties who don’t want
SB: It’s a bad business model, and I don’t think there’s any
to open up to looky-loos. An off-market listing must always
place for it in this or any market.
be the seller’s decision, because, as any right-thinking agent
will tell you, the more eyes that are on a property, the more
DG: I second Shad’s point about the threat to fair hous-
offers, and the better the price it will command.
ing. As facilitators, we know that competition is healthy
and more than that, in today’s fast-moving market, we do
DeAnn Golden, Senior Vice
no one any favors—not our customers or their neighbors
President, Berkshire Hathaway
or even our appraisers—when we withhold properties
HomeServices Georgia Properties,
from the MLS.
Atlanta, Georgia: I respect the privacy
issue, and under unique conditions like
RK: Besides, most MLSs have rules in place regarding
this, we will respect what the sellers
“coming soon” and off-market listings. If you show to one,
need for this property—so long as that seller has been fully
you must be open to all.
informed of exactly what “exclusive” means and what the
consequences may be, and that we follow MLS and other
CK: Good point.
legal guidelines. But the MLS is the bedrock of our industry,
and as purveyors of the American Dream, we owe it to
RK: And actually, when you think about it, the whole
buyers and sellers and to each other as agents to cooperate
issue may resolve itself by this summer. As rates go up,
and share the pool of available properties to all.
and buyers either can’t qualify or become a bit more
hesitant, we could find ourselves with a bit more buildup
Mike Burns, Broker/Owner,
of inventory. RE
RE/MAX Professionals, Denver,
Colorado: I’ll go further than that. I
think so-called “pocket listings” are the
single biggest threat to this industry. They The Power Broker Roundtable is brought to you by the National As-
sociation of REALTORS® (NAR) and Chris Kelly, NAR’s Broker Rela-
threaten the core of what keeps us in
tions Liaison. Watch for this column each month, where we address
business, and any seller who chooses to go exclusive is the broker issues, concerns and milestones.
victim of poor advice. Especially today, with listings hard to
come by, exclusives not only cheat consumers, they damage For an expanded version of this article and other NAR Power
credibility among agents. Broker Roundtable topics, please visit www.rismedia.com.
12 June 2022 RISMedia’s REAL ESTATEGive your client an advantage
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Rocket Mortgage, 1050 Woodward Ave., Detroit, MI 48226-1906WOMEN IN REAL ESTATE
knowledge that you possess as an
agent. I’ve learned that I can’t just
know something, but rather, I have
to be able to explain it in a very di-
gestible way. I’ve benefited from my
real estate knowledge, as well as my
ability to adapt to different types of
people, scenarios and situations.
What are your best tips for
navigating TikTok?
There are two types of mentalities
Sutton behind it: an optimistic mental-
ity and a preventative mentality. If
you’re going into something with a
Real Estate preventative mentality, you’re post-
ing with the mentality of, “I don’t
Influencer want to get any negative feedback
from this,” and when you do that,
Goes Viral you’ll always be limiting yourself.
Alternatively, if you put a video out
on TikTok there with really strong, positive in-
tentions, that is how you’ll grow. As
by Joey Macari real estate agents, we are the ex- “As women in
perts. When we go into a room, we
the industry,
I
can see everything we need to see
n the bleak uncertainty that within 15 to 30 seconds. Not only
befell NYC during the ear- do you have to view things through we don’t get
the eyes of the consumer, but you
ly days of the pandemic,
Madison Sutton (@thenycagent) also have to film that way so they promoted based
adapted to the changing tides by
can conceptualize themselves in the
space as if they were viewing it in on potential—we
riding the social media wave. Af-
ter one of her videos went viral on
real-time. As women in the industry,
we don’t get promoted based on
get promoted
TikTok with 1.5 million views, Sut- potential—we get promoted based
on results. You have to focus on
based on results.”
ton quickly found herself on the
which skill sets are needed to be - Madison Sutton
roster at Brown Harris Stevens,
your most authentic self. Real Estate Influencer,
and has been at the forefront of Brown Harris Stevens
the firm’s agency-fueled content Why is curating community
strategy ever since. content important?
Creating a neighborhood, and what What keeps you passionate?
Here, Sutton discusses how she’s nav- I like to call “connective content,” One of my favorite things about
igating this desirable pipeline and the does not only show that you’re a real estate is the story. You go into
importance of creating a community, neighborhood expert, but it also con- a home, and you’re seeing a story.
both in the field and online. nects you to the community. When It’s not just the little chips in the floor;
you immerse yourself in the commu- it’s part of the much larger story of
How has your career benefited nity, not only is it great for business the people who lived there before.
from social connection? as far as lead referrals, but you also It’s almost like you’re the author of
I got 100% of my business from Tik- learn more about your neighbors someone’s new chapter. It’s an in-
Tok almost instantly. When creating and who’s pouring their heart and credible experience you’re helping
videos, you find that there’s so much soul into the community. to curate. RE
14 June 2022 RISMedia’s REAL ESTATEAFFILIATE
WITH A
BRAND THAT
RECOGNIZES
YOUR
POTENTIAL.
JOI N T HE
R E L E N TL E SS
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Industry Leaders cluding temperature risk, flood risk, storm risk and drought
Go Green risk, are fully integrated into listings that are accessible to
users on OJO Labs’ search portal.
By RISMedia Staff
W
CRUSADERS
hen it comes to making a global Mike Ford
impact through generous works of Chair, REALTORS® Relief
environmental stewardship, RISMedia’s Foundation Committee
2022 Real Estate Newsmakers are leading the Coldwell Banker Heritage
charge. See how these real estate professionals Homes
As climate change fuels ex-
are working toward a shared vision of human and treme weather events nation-
planetary health and safety. wide, Ford tackles crisis relief efforts with both empathy
and passion. As board president of the REALTORS® Re-
CRUSADERS lief Foundation, Ford and his team give financial and af-
Aman Daro termath support to families affected by natural disasters
COO, Red Oak Realty such as earthquakes, hurricanes, wildfires and more.
As the first real estate broker-
age to be carbon neutral and LUMINARIES
green-certified, Daro is leading Sabine Steinbrecher
its quest to combat the global CEO/Chief Hiveologist
climate crisis. “Our world is fac- Hiveologie (a division of
ing environmental challenges that will radically alter the Learning Library Inc.)
future for all of humanity,” he says. “The real estate industry Steinbrecher enforces Hiveolo-
must take a new approach and use its relationships and gie’s real estate elearning plat-
influence to make change happen.” form with a give-back mental-
ity. Its Bee Better Together initiative promises a minimum
of 3% of program revenue to support a real honeybee
“Our world is facing environmental sanctuary. “Hives are undeniably thriving, nurturing,
practical and critical ecosystems,” she says. “We believe
challenges that will radically alter the same needs to be true for our agent communities.”
the future for all of humanity.”
- AMAN DARO
CRUSADERS
COO, Red Oak Realty Luban Quiceno
CEO and Broker,
Treasure Property Group
TRAILBLAZERS Quiceno helps his Palm Beach
John Berkowitz community thrive by leading
Founder and CEO, beach cleanups throughout the
OJO Labs year as a way to uplift Florida’s
Berkowitz is helping buyers un- natural seascape. According to Quiceno, it is all in hopes
derstand the potential climate to cultivate more eco-conscious residents and extend the
risks associated with properties brokerage’s overall mission. “To inspire people to a differ-
through the company’s newly ent life—that is what we ‘treasure.’”
enhanced data transparency collaboration with Climate- Visit rismedia.com/2022-newsmakers to learn more about this year’s
Check. Risk assessment scores for climate change data, in- more than 300 Real Estate Newsmakers.
RISMedia’s Real Estate Newsmakers
is brought to you by
RISMedia’s REAL ESTATE June 2022 17GREAT SPACES
One-of-a-Kind Houston Joey Macari: What was your
Penthouse Sells for $6.9 Million objective when listing this re-
cord-setting property?
In this month’s edition of Great Spaces, all eyes are on Nancy Almodovar: My goal for
this property was to sell the most
Houston’s red-hot luxury market.
expensive home in the sky here in
by Joey Macari Houston.
PROPERTY HIGHLIGHTS: design scheme curated by award- JM: How does the sale of the
Where: Houston, Texas winning Laura U Design Collective, Astoria Penthouse reflect the
boasting an open floor plan, custom surging demands of the luxury
Sold For: $6.9 million lighting, marble floors, chef’s kitchen Houston market?
Features: 9,500-square-foot and an array of lush amenities that NA: Because of its price point, it
penthouse with six bedrooms and six marry the ritz and convenience of a shows how buyers of that caliber are
bathrooms five-star hotel with the private com- buying, and when they want some-
Added Appeal: 600-bottle, climate- forts of hearth and home. thing, they want something. They
controlled wine room, expansive The penthouse, which recently sold were not the first buyer interested in
outdoor space with private pool, for the second-highest price in Hous- this property. They were actually the
movie theater, golf simulator, ton’s history, was listed exclusively third to show interest in purchasing
Himalayan sauna and steam room by Nan and Company Properties—a the property.
digitally-driven, Christie’s International
In the vein of luxury real estate, the Real Estate affiliated team catering to JM: How did you attract poten-
pulse of elevated living akin to a high- Houston and foreign national clientele. tial buyers?
rise penthouse exceeds grandeur. Nan’s President and CEO Nancy NA: We found buyers for this prop-
Perched atop the Astoria in Houston is Almodovar was the exclusive listing erty through our digital marketing,
a full-floor residence with all the bells agent for this property. RISMedia as we have the largest social media
and whistles you’d expect in a New spoke with Almodovar, who revealed following for a local real estate com-
York City dream pad. some of her tricks of the trade, as well pany in Texas. It’s our digital adver-
The 28th-floor space, situated on as exclusive details pertaining to this tising approach that helped us attract
Post Oak Boulevard, notes a lavish one-of-a-kind penthouse. buyers.
18 June 2022 RISMedia’s REAL ESTATEGREAT SPACES
JM: How did you stage the home pening on a daily basis. I was able marketing strategies and negotiation
to maximize the sales price? to execute this sale through persis- skills—this was a successful sale.
NA: I had a professional company tence and keeping a very detailed
stage it to make sure the furniture to-do list and timeline of the full JM: What makes this a “Great
went with the aesthetics of the home. transaction. It was very important for Space?”
In order to attain the best sales price, me to make sure both my buyer and NA: Having 10,000 square feet
there was a lot of negotiation to en- seller were up to date on the next of living space in the sky with 360-
sure we got the right price for our steps throughout the entire process. A degree views of Houston and 1,500
seller. REALTOR® must not assume, but rath- square feet of outdoor balcony
er, make sure to educate the buyer space. RE
JM: How did you successfully and seller on the process, ensuring
execute the transaction? that they stay informed each step of
NA: A REALTOR® must follow up the way. Through my expertise as a For more information, please visit
and review everything that is hap- luxury Houston REALTOR®, digital www.nanproperties.com.
RISMedia’s REAL ESTATE June 2022 19POLICY & LEGAL MATTERS
ticipation Rule—also known as the
“Buyer Broker Commission Rule”—
which mandates that brokers list buy-
er agent compensation as a prereq-
uisite to listing a property on certain
multiple listing services.
The plaintiff, Judah Leeder, bought
a home listed on a local MLS with
the help of an agent and alleged that
the policy was anti-competitive and
led to “artificially inflated, supra-
competitive commission rates being
incorporated into purchase prices
for homes.”
The case also named Realogy
Holdings Corp., HomeServices of
America, Inc., HSF Affiliates, LLC,
NAR Secures Courtroom Long & Foster Companies, Inc.,
BHH Affiliates, LLC, RE/MAX LLC,
Victory in Leeder Case and Keller Williams Realty, Inc. as
defendants.
By Jordan Grice The lawsuit claimed that the com-
panies “engaged in a conspiracy”
T
he National Association of REALTORS® (NAR) can put at least that violated the Sherman Act.
one of its commission-related lawsuits in the rearview mirror. Leeder’s case is similar to a pair
of antitrust lawsuits challenging the
same MLS rule—Moehrl v. The Na-
The U.S. District Court for Northern Il- “It, therefore, does not appear that tional Association of Realtors and
linois ordered to dismiss the Leeder v. Leeder faces ‘a significant threat of Sitzer et al. v. National Association
The National Association of Realtors injury from an impending violation of of Realtors et al.—but both cases ar-
et al. antitrust case on May 2 after the antitrust laws or from a contem- gue that the rule directly harmed the
more than a year of both sides duking porary violation likely to continue or home sellers.
it out in court. recur,’” she added. While Wood ruled in favor of NAR
“Although other district courts have The ruling was met with a celebra- in the Leeder case, she also appeared
permitted indirect purchasers to pro- tion by NAR, which claimed that it to agree with the notion that sellers
ceed with their injunctive relief claims was pleased with Judge Andrea R. were at risk by the alleged violations
even when the direct purchasers are Wood’s decision to lay the “baseless in her memo.
seeking the same relief, the Court complaint” to rest. “The Court agrees that home sell-
finds those cases inapposite to the cir- “The pro-competitive, pro-con- ers, as the direct purchasers of buy-
cumstances here,” wrote U.S. District sumer local broker marketplaces er-broker services, are necessarily
Court Judge Andrea R. Wood in a serve the best interests of buyers more directly injured by Defendants’
memo accompanying her decision to and sellers,” said NAR spokesper- alleged antitrust violations,” Wood
dismiss the lawsuit. son Mantill Williams in an emailed wrote. RE
“Moreover, in both cases allow- statement. “Sellers making offers
ing indirect purchasers and direct of compensation to buyer brokers
purchasers to seek injunctive relief gives first-time, low/middle-income
simultaneously, the indirect purchas- and all homebuyers a better shot at
ers remained participants in the af- affording a home and professional Jordan Grice is an
fected market,” Wood wrote. “Leeder representation to navigate this criti- associate online editor at
has already purchased his home and cal purchase.” RISMedia. Email your real
does not allege that he intends to pur- The lawsuit took issue with a long- estate news ideas to him
chase a new home in the future. standing MLS policy called the Par- at jgrice@rismedia.com.
RISMedia’s REAL ESTATE June 2022 21CRD CONNECT
To start, consider the following ar-
eas of your business:
•Marketing messaging. Consum-
ers at different life stages have dif-
ferent motivations for buying or
selling a home. What might be moti-
vating them to make a move? Some
are taking the first step from renting
to owning; others need more space
for a growing family or are moving
because of a job change. Still oth-
ers are moving for health reasons
or to be closer to family. Use these
primary motivations to inform your
messaging.
Marketing by Generation: •Advertising. Where do you ad-
vertise your business and your
Your Shortcut to a Targeted listings? Will Facebook ads or
billboards be more effective in
Marketing Strategy
reaching first-time homebuyers in
your area? How about retirees?
•PR and events. Brainstorm types
By Jennifer Rzeszewski
of PR activities that will put you in
T
he most effective marketing depends on the right messaging at the front of consumers who are likely to
move soon. What types of events will
right time. So how do you ensure that your marketing is resonating appeal to millennials vs. boomers?
with and reaching your prospective clients? Without an intentional
•Relationship building. Which
marketing strategy, it can sometimes feel like you’re throwing the proverbial generations are represented in
spaghetti against the wall, hoping for something to stick. Thankfully, there’s your sphere of influence, and how
an easier, more efficient way to formulate strategic marketing messages: are you staying in touch with them?
Start by considering the prospect’s current life stage and the characteristics Consider adding or augmenting
of their generation. a type of outreach if it helps you
connect more easily with a group
Of course, there’s no one-size-fits- largest home-buying groups and of your clients (i.e., increasing your
all approach; clients’ preferences, generalized insights into their moti- time spent connecting on social me-
expectations and needs are as vations, behaviors and preferences. dia or doing more pop-bys).
varied as the houses available for More info on the course can be
sale. However, by understanding found at learning.realtor. Analyzing your business in this
the attributes that generally define way allows you to craft targeted
•2021 Generational Trends Re-
a generation, you can develop a marketing messages that are more
port – A yearly National Associa-
marketing strategy that appeals di- likely to reach your prospective cli-
tion of REALTORS® (NAR) report
rectly to them at their current stage ents and win you new business. RE
using data from the Profile of Home
of life. Here are two resources that Buyers and Sellers to track differ-
can help you gain insight into these ences and similarities across gen- Jennifer Rzeszewski is the vice president of
generational characteristics: erations of buyers and sellers. Learn Member Development and
the executive director of
more at nar.realtor. the Center for REALTOR®
•Buyers By Generation: Success
Development (CRD), NAR’s
in Every Segment – A recently up- The knowledge gained from these home for exceptional
dated REBAC elective course that resources can serve as a lens to education. Learn more
provides an overview of the four evaluate your marketing activities. about CRD at crd.realtor.
22 June 2022 RISMedia’s REAL ESTATEYes,
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Weichert tools really do make a difference. Put them to work for you. Give
your local Weichert office a call today or visit jobs.Weichert.com
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Take your brokerage to the next level with Colibri Real Estate’s family of education brands:BROKER PERSPECTIVES
the planning board, the conservation
commission and the economic envi-
ronmental board, so it was an easy
transition.
VITALS:
Over the past year, what chal- Patriot Real Estate
lenges has the Massachusetts Years in business: 31
market faced? Size: 1 office, 4 agents
PY: There’s such a scarce amount of Coverage Area: Metrowest Boston
inventory. I advise [my clients] when www.patriotrealestate.com
they’re considering purchasing a
home to not waive a home inspection,
because what you see is not always struction supervisors get licensed in
An Educator’s what you get. A lot of clients take that
advice, and unfortunately, some have
Massachusetts. This ensures that the
builders I work with understand that
Approach to not been successful in making the pur- I’m aware of any new construction,
Success chase. It’s been frustrating, especially
for first-time homebuyers.
and if an issue comes up, I am capa-
ble of representing them and handling
by Keith Loria negotiations.
“A lot of our business is
A
fter working in higher referral—people who have Please describe some of the
advantages of going with a
education, Paul G. Yorkis been incredibly happy smaller firm.
earned his real estate li- with the representation PY: Not only does the consumer get
cense in 1991. He then founded to know the agent, but they also know
we’ve provided them.”
Patriot Real Estate, which is based that they won’t get lost in the shuffle
in Medway, Massachusetts. -Paul G. Yorkis, Founder, Patriot Real Estate like they might with a larger firm. And
[because they know] that we will only
Instrumental in the growth of Med- represent their side in the transaction,
way, Yorkis authored a trio of grants What makes Patriot Real Estate it helps them understand that we are
to fund Medway’s acquisition of a unique? with them—and that our loyalty and
farm, which is now known as Idyll- PY: In addition to being a small firm, responsibility to them is paramount.
brook Park. He also helped bring a we only represent buyers or sellers in
commuter shuttle bus service from a transaction. We don’t ever do dual What is your outlook for the
Medway to the Norfolk train station. agency. We work together as a team remainder of 2022?
Building on his past career, Yorkis is so that if someone isn’t available, but PY: I think it’s going to be a year
also a certified real estate instructor. a client needs something, they don’t where sellers will have the advantage.
He has developed three courses that fall between the cracks. As the owner I think interest rates will increase, but
are now part of the approved con- of the firm, I make myself available to they will continue to be pretty modest.
tinuing education curriculum for the my agents 24 hours a day, 365 days There’s a desire to create more hous-
Commonwealth of Massachusetts. a year to answer any questions they ing here in Massachusetts, but that’s
may have as far as how to best rep- a challenging process because there
In what ways did your career resent a client. are so many steps and so many ap-
in higher education prepare provals needed. One of my biggest
you for your transition to real What’s the secret to bringing in pieces of advice is if you find the right
estate? new business? home—and you’re planning to be in
Paul Yorkis: When I worked in higher PY: A lot of our business is referral— that home for five to seven years—
education, I was responsible for cam- people who have been incredibly you might as well buy now because
pus planning, permitting and hiring happy with the representation we’ve there’s not going to be a substantial
architects. I had been a member of provided them. I also have my con- change in inventory. RE
Power Broker Perspectives
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RISMedia’s REAL ESTATE June 2022 27Vylla Home may be the best
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EEO/AAP Employer.COACHING
with the information they need to ad-
just their business practices and stay
on the cutting edge of the industry.
Professional Development
Helps You Stay Ahead With
Current Industry Trends and
News
Real estate agents have learned that
unpredictable events and trends can
change the industry at a moment’s
notice. In 2019, no one predicted the
global changes COVID would bring
with it, specifically in the real estate
market. This further demonstrates
the importance of remaining both
adaptable and flexible in business
practices.
How Professional Real estate
professionals
Development Helps Agents
who invest in
Earn More professional
By the Experts at McKissock Learning
development earn
W
hile most real estate professionals are great at investing in
approximately
high-quality marketing materials, a good CRM and other
real estate-related tools, there is one area that tends to be $72,000 more
overlooked, resulting in potentially thousands of dollars left on the table.
annually than
In late 2021, McKissock Learning Professional Development those who don’t.
conducted a survey that found that Helps You Stand Out From the
real estate professionals who invest Competition Remaining up to date with the lat-
in professional development earn ap- The key to standing out in the competi- est industry news is a great way to
proximately $72,000 more annually tive real estate industry is strategically predict new trends and changes in
than those who don’t. Considering the marketing your niche to potential cli- the industry’s direction. As the indus-
median amount spent on professional ents, rather than appealing to every try continues to evolve, McKissock
development for real estate agents is sector. Clients often appreciate work- Learning provides the professional
$680 a year, according to the Na- ing with agents who have tremendous development tools you need to help
tional Association of REALTORS®’ experience with the type of property you excel in your field and connect
2019 Member Profile, that’s an im- they would like to buy or sell. with like-minded professionals.
pressive return on investment. The same survey by McKissock To access the full Income Report,
In other words, agents who make Learning found that the luxury real visit McKissock.com/income. RE
an effort to invest in themselves estate markets offer one of the most
through professional development lucrative niches, with agents earning, As part of the Colibri Real Estate family
have more opportunities to increase on average, $183,000 each year. of premier education brands, McKissock
their earning potential and grow their Other profitable specialties in the in- Learning helps hundreds of thousands
of real estate professionals each year
business. The following outlines how dustry include eco-friendly properties
achieve sustainable success throughout
investment in professional develop- and foreign or international invest- each stage of their career via continuing
ment directly contributes to a higher ments. The ability to adapt to emerg- education and professional development
annual income. ing specializations provides agents courses.
RISMedia’s REAL ESTATE June 2022 29COACHING
its that include generating future suc-
cess. The most important activity is
creating new business for themselves,
so help them realize what a produc-
tive day looks like.
Help your agents
maximize their
“sales hours” by
setting up daily
habits that include
generating future
success.
6 Accountability Tactics to 4 Track calls, appointments
and results. Have your agents
track all their calls, conversions,
Improve Agent Productivity appointments and results. We are
hyper-focused on the activities that
By Sherri Johnson create appointments and make sales
R
happen, and tracking systems and
eal estate leaders are constantly looking for ways to help their worksheets are an important part of
agents increase their sales efforts to list, sell and convert more, the process.
but many are still coming up short. If you have agents in your
office who are interested in growing their business and income—or
agents whose performance levels are less than average—implementing
5 Report results daily and
weekly. What is tracked, mea-
sured and reported to another human
accountability action plans will set the stage for increased results and being will create even more results.
performance turnaround. Seeing an agent’s call log of activity
will help hold them accountable to the
Accountability should be a positive ten business plan with monthly and goals they set.
reinforcement, not a negative one. weekly goals.
6
Leaders often hire agents and think Rinse and repeat. Getting this
they are just going to “know what to
do every day” to create success, but
this is not the case. In fact, most agents
2 Set weekly goals for listing
appointments. Every agent
should have a listing appointment
system into a repeatable way
of life will help your agents gain the
discipline to ensure that lead genera-
perform better when they know the goal each week. They need to hit this tion is always a top priority. Help your
expectations and are held account- number, and it needs to be more than agents rinse and repeat accountabil-
able to them. one. How many listing appointments ity tasks, and you will see dramatic
Here are six of my best account- are in your calendar for next week? results. RE
ability tactics: How many calls do you have to make
to meet or exceed that goal? This one Sherri Johnson is CEO and founder of Sherri
1 Have a written business
plan. Knowing your agent’s
“why” will help you motivate and
accountability measure will close the
gap between setting arbitrary goals
and actual goal achievement.
Johnson Coaching & Consulting. Johnson
offers individual and group real estate
coaching, and is a preferred
inspire them while reminding them coach for multiple national
3
brokerages. She consults
of what they are driven to achieve. Time-block the day with and speaks for many lead-
When goals are written down, they lead generation activities. ing organizations, including
are more likely to be achieved, so Help your agents maximize their RISMedia, NAR, McKissock
make sure your agents have a writ- “sales hours” by setting up daily hab- Learning and Homes.com.
30 June 2022 RISMedia’s REAL ESTATEYou can also read
