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Real Estate Industry Alert: How to Protect Yourself Against Class-Action Lawsuits

          

Guys, you've probably heard about the class-action lawsuits targeting realtor organizations, MLS groups, and large franchises.

The plaintiffs claim that they were unaware they were paying both their own fees and the buyer's fees. The lawsuits aim to either eliminate seller-paid brokerage fees or ensure transparent disclosure of these fees. While similar lawsuits have been filed in the past, these recent cases are gaining traction, resulting in settlements.

For instance, a New England MLS paid a 3 million settlement to resolve the issue.

This poses a significant challenge to our industry's business model, which has operated on the basis of sellers covering the REALTOR fees for decades. We may face a future where we have to approach buyers and inform them that they must pay their fees at closing and make a choice regarding representation. If they want me to represent them, we'll have a conversation, sign a document,...

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Four Tips For Updating Your Bio in 2021

       

When's the last time you updated your bio and refreshed your overall brand?

Remember the brand that you are selling is YOU. And you need to refresh your brand at least once a year. You might hate getting your picture taken, but you need a new one every year. And I'm not just talking about a new headshot. You also need to hire a professional photographer to do an entire photo spread for you.

On top of that, you need to update your bio. The best bios that will drive sales your way include the following four things:

  1. They're timely
  2. They're relevant
  3. They include the latest and greatest things happening in your life that help you connect with people in a real way
  4. And they include any awards you've received or accomplishments you've achieved

Your #1 goal with your bio is to create an emotional connection with people. So that when they read about you, they can easily decide that they want to work with you.

Once you've updated your bio, you have to make sure...

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How to Build Confidence When Talking to Buyer and Sellers

Do you feel confident when you talk to a buyer or seller for the first time? Do you feel like you own the conversation? If you don't feel that way, then the reason might be that you don't have competence.

When you come into a room, you want to be the smartest person in the room when it comes to your profession. Unless you've hit that standard you are never going to be at your highest level. Here is one easy way to gain competence that will help you feel more confident when you're having conversations with buyers and sellers.

Know your numbers. Every MLS has a monthly report which will give you the monthly stats to compare each month and year over year statistics. Look at the numbers for pending sales. Where are they in your market? How many properties sold last month in your market? How about new listings? How long does it take the average home to sell? What is the months of supply in your market? How do these numbers compare to the previous month and the previous year?

Write the...

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Interview w Patie Millen: How Using a Pricing Narrative Can Enhance Your Listing Presentation

 

The market is changing. Sellers are under pricing pressure which means our conversations with sellers about their pricing strategy needs to change. 

Patie Millen understands the power of pricing a home to accurately reflect the competitive pressures of the market her team sold $37.5 million last year with 73 closed transactions. One key to her success is her unique approach to consulting and counseling sellers. 

Watch and learn how Patie approaches the pricing conversation and how she uses a "Pricing Narrative" to help her clients understand and interpret the market data. 


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 About Jim Remley:

Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate...

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68% of Sellers Receive 9% More at Closing Using this Technique

 

As more listings enter the market the competition for buyers and offers in many areas of the country is rising rapidly. Because of this it's important help your sellers position their home to have the best chance at selling. 

In a recent study of 4200 REALTORS it was founds that 68% of staged homes received offers at least 9% more than their counterparts who were un-staged.

Watch and learn what staging means, how to discuss it with your sellers, who pays for it, and the top recommendations from REALTORS nationwide. 


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About Jim Remley:

Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an unlikely rise from college drop out to real estate Rock...

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The % of Asking Price Script - Educate Sellers About the Importance of Price Position

 

We don't want to start to low....We can come down later if it doesn't sell... Have you ever heard those words out of a sellers mouth? 

Most sellers don't understand the importance of price position and speed of sale when it comes to getting top dollar for their home. Because of this their listing can linger on the market and even become stigmatized. 

Watch this quick video on how to use the % of Asking Price Script and some key language to use when talking about price with sellers. 


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About Jim Remley:

Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an unlikely rise from college drop out to real estate Rock Star by becoming ranked in the top 1% of REALTORS® nationwide....

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First Impression VS Last Impression - Which one is more important?

 

Which is more important for your real estate business - the first impression or the last impression? It's an important question and one that can have a massive impact on your ability to build a referral based real estate business! 

Watch and learn how to beat the Million Dollar Challenge, five ways to work on your business and not just in your business, and six ways to create raving fans at the end of every transaction. 

About the Author

Jim Remley is a nationally recognized expert in the field of residential real estate. Today Jim leads one of the largest real estate firms in the state of Oregon with over $766 million dollars in sales volume a year with just over 150 active Brokers. As a consultant, author, speaker, and trainer Jim has one mission – to create abundance through simplicity of action.

In 2018 Jim launched an On-Demand Video Coaching platform designed for REALTORS to tap into highly focused information and actionable ideas based on thousands...

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Upgrade Your Listing Presentation with a Success Portfolio

Once you have mastered your core real estate presentation, many agents find it helpful to create a success portfolio. A success portfolio is a pictorial journal of your past success stories. One of the best ways to envision a success portfolio is to imagine yourself interviewing a photographer or an architect. Both of these professionals almost always have a success journal that shows off their talents, for instance a photographer may include photos of different scenes, lighting, models, and backgrounds, while an architect may include elevations, interior and exterior drawings, and most importantly completed projects.

Likewise many top real estate agents carry with them a success portfolio which may include photos of homes sold, past flyers and marketing campaigns, pictures of clients in front of homes purchased, brochures, website samples, advertising slicks, open house invitations, and most importantly quotes and pictures of satisfied clients. Some progressive agents are now even...

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