RealTrending

On today’s episode of RealTrending, we welcome Jason Mitchell, the founder and president of the Jason Mitchell Group. In 2023, JMG had over 8500 transaction sides and almost $4.2 billion in transaction volume according to RealTrends verified data.

Jason offers insight into the impact of the NAR settlement on the industry as well as the lack of transparency in the settlement agreement. JMG’s model focuses not only on buyer leads from lender referrals, but also a lot of veteran buyers, which he believes will be much more negatively impacted by changes in the commission model. He also talks about the Real Estate Agent Pledge, a commitment to educating clients about cooperative compensation and promoting transparency in the industry.

Here’s a glimpse of what you’ll learn:

The NAR settlement will require buyer-broker agreements, which can create more loyalty between consumers and agents.

The lack of transparency in the settlement, particularly regarding cooperative compensation, is a concern.

Low-income buyers, such as veterans and those using down payment assistance programs, may struggle to afford out-of-pocket fees.

The Real Estate Agent Pledge aims to educate clients about cooperative compensation and promote transparency in the industry.

Related to this episode:

Connect with Jason on LinkedIn

Jason Mitchell Group

Jason Mitchell Real Estate - Real Trends 

The Real Estate Agent Pledge

HousingWire’s YouTube Channel

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The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

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On this week’s episode of RealTrending, we welcome two industry figureheads: Thad Wong and Mike Golden, the co-CEOs of Christie's International Real Estate and founders of @properties. Thad and Mike have been in business together for 27 years and are an extraordinary duo.

During the conversation, the two talk about their business arrangements and how they’ve managed to get along after almost three decades. They also talk about some insights gleaned from Christie’s recent luxury real estate report, including the rise of luxury markets in university towns, Gen-Z buying trends, and long-term strategies to adapt to an evolving market.

Here’s a glimpse of what you’ll learn:

University towns are becoming hotspots for luxury real estate due to the presence of educated populations, vibrant culture, and better quality of life

Gen Z buyers prioritize eco-friendly features and low maintenance living, and Christie's is adapting its offerings and marketing to meet these preferences

Malta and Nicaragua are attractive emerging markets for luxury real estate investment due to factors like foreign ownership visa programs and affordability

Adapting to industry trends and staying ahead requires being nimble, taking risks, and focusing on the client's needs and preferences

Related to this episode:

Connect with Thad on LinkedIn

Connect with Mike on LinkedIn

Christie's International Real Estate

@properties

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

In today’s episode of RealTrending, we welcome Jason Waugh, the President and CEO of Coldwell Banker Affiliates, who, despite just recently starting in this position some eight months ago, brings to the table many years of brokerage experience at another brand.

Waugh talks a lot about the importance of empathy and understanding, specifically when it comes to the challenges of making tough decisions that may negatively impact people but are necessary for the long-term success of the organization. He also talks about their growth-driving strategies used to unify the franchise and company-owned sides as they work on becoming the premier provider of home ownership and commercial real estate services.

Here’s a glimpse of what you’ll learn:

Empathy and understanding are crucial for leaders in the real estate industry to support brokers and sales professionals.

Making tough decisions that may negatively impact people is necessary for the success of the organization.

Collaboration between the franchise and company-owned sides of a real estate organization is essential for unity and success.

The future of real estate leadership will continue to prioritize relationships and human involvement.

Related to this episode:

Connect with Jason on LinkedIn

Coldwell Banker

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week’s episode of the RealTrending podcast, we welcome Michael Repka, the CEO and managing broker of DeLeon Realty, a Palo Alto-based brokerage with a unique business model of salaried agents. 

In this conversation, Mike and Tracey talk about DeLeon’s brokerage model and its place in the market post-NAR commission lawsuit settlement, as well as scalability and sustainability of the salaried agent model. They also talk about what the future holds for buyer’s agents and what agents need to do to demonstrate their value to consumers.

Here’s a glimpse of what you’ll learn:

DeLeon Realty is structured differently from traditional brokerages, with all agents being salaried and the commission going to the buyer's side.

Value-added services, such as providing legal and contractor support, can set a brokerage apart and offer additional value to clients.

The recent NAR settlement may lead to the emergence of new business models and services.

Buyer's agents may need to demonstrate their value and offer unique services to justify their commission.

The future of buyer's agents may involve a shift towards a more a la carte approach and specialized services.

Related to this episode:

Connect with Michael on LinkedIn

DeLeon Realty

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week’s episode of the RealTrending podcast, Tracey Velt sat down with Alex Vidal, the president of ERA Real Estate. Today’s conversation is all about mindset, leadership, and challenging yourself with both personal and career goals. They discuss the power of positive thinking, and he shares his coaching strategies for helping agents develop a positive mindset and master their goals. He also discusses his vision for the future of ERA Real Estate and the real estate industry at large.

Here’s a glimpse of what you’ll learn:

Mindset is a key factor in real estate success. Agents can work on their mindset just like they work on their physical fitness.

Practicing gratitude and positive affirmations can help agents maintain a positive mindset.

Grit is essential for overcoming challenges and achieving goals in real estate.

Leaders should focus on helping agents see the opportunities in the industry and develop deep, meaningful connections with clients.

ERA Real Estate aims to become a brand that agents and broker-owners are raving fans of, setting an example for the rest of the industry.

Related to this episode:

Connect with Alex on LinkedIn

ERA Real Estate

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week’s episode of the RealTrending podcast, we are joined by Craig Goodliffe, KW Maps coach and the founder and CEO of Cyberbacker, a company that provides administrative support and virtual assistant services to real estate firms.

Craig and Tracey talk about the misconceptions and misinformation plaguing consumer perceptions of commissions, the comission lawsuit and subsequent settlements, as well as strategies for agents to engage in transparent commission conversations with clients. He also discusses current opportunities that he sees in the market and industry and the significance of education and financing options.

Here’s a glimpse of what you’ll learn:

Consumers and agents are confused about the settlement and how commissions are paid.

Agents should accurately explain the value of commissions and the services they provide to buyers.

Buyer agents should focus on understanding client needs and setting clear expectations. Listing agents should emphasize the benefits of higher commissions in attracting more buyers.

Agents should educate themselves on financing options and affordability to better serve their clients.

Related to this episode:

Connect with Craig on LinkedIn

KW Maps Coaching

Cyberbacker

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week’s episode of the RealTrending podcast, we are joined by Jill Butler, founder of Red Key Realty Leaders, who discusses her business model, services offered, growth strategy, and the importance of culture and recruiting.

She emphasizes the importance of transparency and agent’s value add to clients, mastering talent development, and her excitement for the future of the real estate industry

Here’s a glimpse of what you’ll learn:

Transparency and communication are key in the real estate industry, both with clients and within the brokerage.

Building a strong culture and recruiting agents who align with the company's core values is crucial for success.

Adapting to market changes and challenges requires strong leadership and a focus on the company's vision.

Investing in talent development and providing excellent customer service can lead to growth and success in the industry.

Related to this episode:

Connect with Jill on LinkedIn

Red Key Realty St. Louis

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

We are dropping a breaking news episode in your feed today as Steve Murray of RTC Consulting joins us to discuss an important update in the class action commission lawsuits brought by home sellers across the nation.

The National Association of Realtors (NAR) has settled for $418 million and will make several policy changes, pending court approval. This proposed settlement has several implications for the real estate industry, including the removal of compensation offers from the MLS. Murray talks about the potential for more commission compression as well as the possibilities for new business models, additional brokerage services and the future of NAR and state associations.

Here’s a glimpse of what you’ll learn:

The settlement in the class action commission case has several implications for the real estate industry, including changes to compensation offers.

The settlement opens up possibilities for new business models, with big brokers having an advantage.

The billions in savings for homebuyers is a myth. Murray explains why it will not lower home prices.

The settlement is seen as a significant development in the industry but it remains to be seen how it impacts the Department of Justice’s (DOJ) concerns over offers of broker compensation.

Related to this episode:

Connect with Steve on LinkedIn

NAR settles commission lawsuits for $418 million

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of RealTrending, Josh Team, President of SERHANT., joins us to share his journey and how his perspective has changed since he had a heart attack after leaving Keller Williams that left him near death. Three years after his heart attack, where he spent time being a dad and husband through recovery, he’s back in the industry.

He discusses the changing landscape of the real estate industry, the opportunities it presents, and how new market horizons fit into growth strategies for SERHANT., including personalized training and leveraging AI tools. Make no mistake, Team is ready to help Ryan Serhant rapidly expand the company nationally while taking big risks to do so.

Here’s a glimpse of what you’ll learn:

Unexpected life events can lead to massive perspective changes and a reevaluation of priorities and goals.

The real estate industry is going through a changing of the guard, with new models and value being created.

Collaboration and data-driven decision-making are crucial for success in leadership.

Personalized training and leveraging AI can help agents focus on their strengths and provide more value to clients.

Related to this episode:

Connect with Josh on LinkedIn

SERHANT.

Serhant hires a familiar name as its first president

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week’s episode of the RealTrending podcast, we are joined by Scott Wright, a partner with RTC Consulting, the premier consulting firm for brokerage mergers and acquisitions, and business valuations for teams and brokerages. They've been collecting brokerage and team benchmarking data for the past 12 years. 

Tracey and Scott cover the upcoming Dealmakers Conference and talk about the importance of benchmarking data on brokerage operations, including trends that they’re seeing in brokerage expenses, gross margin and how firms are valued. They also explore some of the innovative services brokers can adopt to enhance value and productivity, and talk about recent market dynamics and M&A trends.

Here’s a glimpse of what you’ll learn:

Occupancy and personnel costs are the largest expenses for brokerages, and reducing these costs can significantly impact profitability.

Brokers can boost their value by adding creative services, increasing productivity, and focusing on scale.

Teams can have value beyond a referral fee by developing business systems and focusing on equity value.

Benchmarking data is crucial for understanding how a brokerage is performing relative to its peers.

Managing expenses is important, but recruiting and developing agents should be a priority for long-term success.

Related to this episode:

Connect with Scott on LinkedIn

RTC Consulting

The Gathering

HousingWire’s YouTube Channel

Enjoy the episode!

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.

Learn more about your ad choices. Visit megaphone.fm/adchoices