Why some brokerages are embracing property management
Real Estate News
FEBRUARY 20, 2023
Between investor purchases and property management, it can be a lucrative business for brokerages — and a source of buyer leads. The rental market is massive.
Top indie brokerage John L. Scott acquires Sterling Johnston Real Estate
Housing Wire
NOVEMBER 7, 2023
West Coast juggernaut independent brokerage John L. Scott Real Estate has acquired boutique brokerage Sterling Johnston Real Estate , based out of Redmond, Washington. The acquisition did not include SJA Property Management , Sterling Johnston’s property management arm.
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Indie brokerage Nationwide Real Estate Executives joins eXp Realty
Housing Wire
AUGUST 2, 2023
Daryl Owen , the founder of top California independent brokerage Nationwide Real Estate Executives , is joining eXp Realty and taking 200 agents along with him. RealTrends couldn’t independently confirm those figures; NRE has not submitted data to the RealTrends brokerage rankings since 2019.
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Alexa L. Barnett to Lead Commercial Property Management at Horrell Co.
Realty Biz
NOVEMBER 7, 2023
Barnett will be taking on the role of Head of Commercial Property Management. Horrell Company's new Head of Commercial Property Management, Alexa L. Elliott Smith , President & CEO of Horrell Company I look forward to growing our portfolio and property management services under Elliott's leadership.
The Notorious POD Ep 20: Scott Brady on Integrated Brokerage + Property Management
Notorious ROB
JULY 1, 2021
As the country steadily moves towards #RenterNation, the future of brokerage may be in a combined horizontally integrated company that offers services in property management, leasing, and property sales.
Opinion: Real estate brokers are still buying and selling firms
Housing Wire
SEPTEMBER 13, 2023
Rather than a multi-year average of EBITDA or Gross Margin as the basis for the value of a brokerage firm (or their related counterparts in mortgage, title, escrow, and property management), valuations now are based Trailing Twelve Months (TTM or LTM) results.
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7 ways to avoid being a ‘broke’ real estate broker
Housing Wire
FEBRUARY 23, 2024
However, unlike other industries where promotion to the management level is generally tied to additional income, some brokers find themselves struggling to perform at the same financial level as their most successful agents. Pursue strategic partnerships with lenders or title companies.
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Ancillary services a steadying force in an uncertain market
Real Estate News
FEBRUARY 12, 2024
Adding property management, title or other services can help a brokerage during any market by increasing revenue streams and improving customer service.
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Illinois homebuyer files commission lawsuit against @properties
Housing Wire
JANUARY 9, 2024
In an emailed statement, a spokesperson for @properties Christie’s International Real Estate , the top brokerage in Chicago, wrote that the copycat suit was in response to the Missouri jury’s verdict in the Sitzer/Burnett suit.
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How to Become a Property Manager in 7 Easy Steps
The Close
APRIL 24, 2023
In my 28-year real estate career as a broker and coach, I have worked with many agents who have asked about either adding property management to their current business or becoming a full-time property manager. From the outside looking in, property management looks easy.
83 Questions to Ask Before Hiring a Property Manager
Norada Real Estate
FEBRUARY 2, 2023
You don't have to tell us, finding a good property management company is hard. When we first started investing in residential real estate we went through several property managers, struggling to find one that was truly exceptional. General Property Management Questions 1) How long has your company been in business?
Most Brokerages Have Zero Counter-Cyclical Hedge
Notorious ROB
OCTOBER 24, 2022
What my friend and I ended up discussing is that while we think many agents in 2022 are in the same position as those agents we knew in 2007, we are pretty confident that almost all brokerages are in that same position out of necessity. And over the past few years, brokerages have done very well with this ancillary-revenue based model.
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Is Owning a Real Estate Brokerage Profitable?
Marco Santarelli
OCTOBER 23, 2023
If you are thinking of starting or expanding your own real estate brokerage, you might be wondering how profitable this business can be. However, with proper planning and execution, real estate brokerages can be highly profitable ventures. Is owning a real estate brokerage profitable? According to a report by IBISWorld, the U.S.
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Are you prepping for worst-case commission lawsuit outcomes?
Housing Wire
NOVEMBER 3, 2023
Because the larger brokerage firms, historically, tend to represent more buy side than sell side, they “may be looking at a big loss of revenue,” says Murray. ” So, he recommends brokerages “manage their companies away from a sales office-based culture.” “He got up to 20% to 30%, as I recall.”
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United Real Estate expands North Texas footprint through M&A
Housing Wire
OCTOBER 19, 2023
Bearden will serve as CEO of the merged firm and Brenda Cole a co-owner of United will serve as the manage broker. “We We built our brokerage from the ground up and knew we wanted to expand further for our agents and clients. With the support of the sixth-largest national brokerage in the U.S.,
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Where Commercial Real Estate Brokerages Earn Their Revenue
Propmodo
MAY 26, 2023
When the topic of commercial real estate brokerages come up, images of “for lease” and “for sale” signs come to mind. Large brokerages like CBRE, JLL, and Cushman & Wakefield (who have market capitalization of $24 billion, $6.9 billion, and $1.8 The firm breaks down its business into three segments.
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What’s my brokerage worth?
Realty Biz
MAY 31, 2022
They typically start with wanting to know the value of their brokerage. Even within the same market, comparable brokerages will often vary greatly in value. In most industries, there are tangible assets that make up a sizable portion of company value, however, in a real estate brokerage, the most important asset isn’t even the brokers.
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Vacasa to Shut Down Real Estate Brokerage Services in Q2
Broke Agent Media
MARCH 31, 2023
Vacasa , a vacation home management company, is off to a challenging start this year. And now, the company will be closing down its real estate brokerage division, which will go into effect on June 1st. But to be able to sell property management contracts—and keep their W2 position—agents must keep their licenses with Vacasa.
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eXp Realty Surpasses 80,000 Agents as Brokerage Continues Worldwide Expansion
RIS Media
APRIL 22, 2022
Glenn Sanford, founder, CEO and chairman of eXp World Holdings recently commented on the accessible leadership traits that underpinned eXp’s success as what he calls “the most agent-centric real estate brokerage on the planet.”. “My 4 among the top 1,000 brokerages for residential home sales in the U.S. in its 2022 Power Broker Report.
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Introducing the 2023 HW Finance Leaders!
Housing Wire
MARCH 31, 2023
Here’s the full list of this year’s honorees: Name Job Title Company Name Alejandro Franco Controller, Vice President of Accounting and Finance JPAR Real Estate Amber Kramer Senior Vice President and Chief Financial Officer Guild Mortgage Andrew Hubacker Chief Accounting Officer and Interim Principal Financial Officer United Wholesale Mortgage (..)
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How Property Listing Portal Can Elevate Brokerage Business
Realty Biz
JANUARY 4, 2023
Depending on the business model of the organization that runs a real estate portal, there may be two kinds of these marketplaces: For marketing properties available within ONE brokerage (Century 21, Savills, Keller Williams Realty). The ultimate goal behind such websites is to generate an agent commission upon closing a deal.
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The Long View: Brokerages Carving New Paths to Profitability
RIS Media
OCTOBER 6, 2021
This month’s National Association of REALTORS® (NAR) Power Broker Roundtable provides a long-term outlook for the real estate industry and brokerages. Moderator: Cindy Ariosa, Senior Vice President, Regional Manager, Long & Foster Real Estate, Chantilly, Va., Jim D’Amico: Property management, for one thing.
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Stellar MLS to launch new agent platform
Housing Wire
SEPTEMBER 23, 2021
Stellar MLS currently offers members a suite of over 24 different products to help agents list properties, manage transactions and connect with customers. To make this goal a reality, Stellar has teamed up with MoxiWorks, who already powers the technology for 800 brokerages and 400,000 agents across the U.S. and Canada.
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ERA® REAL ESTATE BOLSTERS OKLAHOMA CITY PRESENCE WITH AFFILIATION OF MULTI-OFFICE, FAMILY-LED BROKERAGE
Realty Biz
NOVEMBER 2, 2023
NYSE: HOUS) portfolio of brands, announced today the affiliation of Meraki Real Estate ERA Powered, a multi-office brokerage based in Norman and Oklahoma City, Oklahoma. Led by husband-and-wife duo Zan and Bryan Waldenville, the company specializes in new development, as well as residential, luxury and investment properties.
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The Benefits of a Virtual Assistant for Your Real Estate or Brokerage Agency
Realty Biz
FEBRUARY 22, 2023
Property Management Leasing, renting, or selling your properties comes with a lot of admin, especially at times of tenant changeover. By outsourcing property and tenant management this work can be done efficiently and effectively so that you and your team are free to work on filling up your next property.
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How to Start a Real Estate Brokerage in 2023 (Without Going Broke)
The Close
NOVEMBER 10, 2022
Let’s talk about your dream of starting your own real estate brokerage. After all, having your own brokerage means more money, more autonomy, and greater responsibility. I’ve launched two brokerages, invested in two more, and coached dozens of broker-owners. 7 Things I Wish I Knew Before Starting My Real Estate Brokerage.
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Redfin makes its big rental play with RentPath acquisition
Housing Wire
FEBRUARY 19, 2021
After a deal to be acquired by CoStar Group fell through due to antitrust objections from the federal government, real estate brokerage and listings portal Redfin has scooped up the Atlanta-based rental platform. They plan to pilot a program for property managers to pay only for a signed lease.
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THE CENTURY 21 BRAND TAPS INTO THE LAKE ROYALE MARKET WITH AFFILIATION OF MULTI-OFFICE BROKERAGE
Realty Biz
OCTOBER 4, 2023
a global industry leader and the most recognized name in real estate*, has strengthened its presence in northeast-central North Carolina with the affiliation of Folks Properties Inc. Founded in 2018 by current broker/owner, Rhonda Folks, the brokerage has rapidly expanded to two locations in Bunn and Louisburg.
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NAR and CCIM Institute Partner for Summit
RIS Media
SEPTEMBER 26, 2023
Practitioners within the entire commercial ecosystem—including brokerage, financing, development, asset and property management… The post NAR and CCIM Institute Partner for Summit appeared first on RISMedia.
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LEADING LUBBOCK BROKERAGE LOCKS IN EXPANSION PLANS WITH THE CENTURY 21 BRAND AFFILIATION
Realty Biz
JULY 31, 2023
The firm specializes in commercial, farm and ranch real estate, as well as property management. Charlie serves as managing broker, overseeing all contracts and financial aspects of the company. NYSE: HOUS), a global leader in real estate franchising and provider of real estate brokerage, relocation, and settlement services.
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Independent Los Angeles County Brokerage joins Better Homes & Gardens Real Estate
Realty Biz
APRIL 21, 2021
Better Homes and Gardens Real Estate LLC announced today that Los Angeles County brokerage Porches & Places has affiliated with the brand to become Better Homes and Gardens Real Estate Porches & Places. They created a lead generation business which quickly expanded to include brokerage services under the name Porches & Places.
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ONE OF THE TOP BROKERAGES IN SOUTHERN CALIFORNIA MOUNTAIN RESORT MARKET JOINS BETTER HOMES AND GARDENS REAL ESTATE LLC
Realty Biz
DECEMBER 14, 2022
Navy veteran who started his career in property management before pursuing a career in professional sports management. Over the last 15 years, my wife Debbie Scott-Leistra and I have invested considerable resources into building the brokerage and am proud of what we’ve accomplished as an independent firm.
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Word association
1000Watt
MAY 26, 2022
Here goes: PROPERTY MANAGEMENT. Which is kind of messed up, since, when you think about it a little bit, there’s all kinds of purposeful, powerful, life-changing territory to explore within property management. Home Services Property Management wanted to go there. . You just have to go there. Messaging.
D’Angelo Realty Group Inc. Rebrands to RE/MAX Pathway
RIS Media
OCTOBER 11, 2021
and new RE/MAX broker/owner has rebranded their real estate sales brokerage to RE/MAX Pathway. Originally founded by Tom D’Angelo in 1980 as a real estate brokerage, D’Angelo Realty Group Inc., Stephen Fleming, president of D’Angelo Realty Group Inc., D’Angelo Realty Group Inc.
5 technology trends agents and brokers should embrace in 2023
Real Trends
NOVEMBER 8, 2022
Here are my thoughts on the five trends agents, teams and brokerage owners should consider in 2023 to find success: . As M&A activity continues, brokerages need to prioritize strategic technology investments to attract and retain a high-performing team of agents in an increasingly competitive market.
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Meet Tom Wilkins, the First Better Homes and Gardens Real Estate Franchisee
Realty Biz
JULY 24, 2023
Less than a few days later, he was in New Jersey at the corporate headquarters with every intention of being the brand’s first real estate brokerage. The brokerage is complemented by a property management and relocation divisions. Tom stopped the Realogy team halfway through their pitch and declared “sold.”
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Andrew Hogan joins Engel & Völkers as a Real Estate Advisor
Realty Biz
APRIL 23, 2023
Engel & Völkers of East Greenwich announced today that Andrew Hogan has joined its brokerage as a real estate advisor on the DiSpirito Team, bringing a specialty in investment properties and assisting first-time homebuyers to this new role. Andrew is an Accredited Buyer Representative (ABR).
Berkshire Hathaway HomeServices Expands Its Presence in Charlotte, North Carolina
RIS Media
JANUARY 28, 2022
The brokerage, owned and operated by local industry veterans, Kathleen and Jim Rebhan, specializes in?residential relocation services, property management, corporate homes, REO and short-sale transactions. “We Berkshire Hathaway HomeServices Elite Properties, in a press release.?“As Kathleen Rebhan, owner,?Berkshire
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BHGRE® Expands in Paris, Texas
RIS Media
APRIL 28, 2021
The family-owned brokerage, which celebrates its 70th anniversary in 2021, was founded in 1951 by Nathan Bell III and is currently owned and led by his son, Nathan “Jim” Bell IV. “As an independent brokerage, we needed to position ourselves in a way that allowed us to compete in a market dominated by franchises.
DataDigest: New data shows how brokerages, agents, landlords & homebuilders were reshaped by the pandemic
Housing Wire
OCTOBER 4, 2023
Census Bureau shows how the business landscapes changed for homebuilders , lessors, agents , brokerages and other real estate professionals in the first full year after the pandemic began. A once-in-a-century pandemic, global inflation, supply chain shocks – 2020 truly was a pivotal year. Now, newly released data from the U.S.
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Pros and Cons of Getting Your Broker License
Realty Biz
FEBRUARY 15, 2022
As an agent, if you’re more aggressive in the flips you’d like to do, it can be frustrating if the brokerage you’re working under is ultra conservative. As a designated or principal broker, you can become a broker-owner (where you own the brokerage). You can also take on the role of property management.
Happy Grasshopper, Chime integrate to offer market-driven agent content
Real Trends
FEBRUARY 13, 2023
Happy Grasshopper, a content and marketing platform for agents and brokerages, has integrated with Chime Solution Suite, a real estate CRM, IDX, team management and lead generation platform, to provide agents with “market-driven and market-specific content.”
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JPAR® – REAL ESTATE APPOINTS TONY DELGADO VICE PRESIDENT, BROKER SUPPORT
Realty Biz
NOVEMBER 10, 2021
JPAR ® – Real Estate, America’s #1 fastest-growing, 100% commission brokerage, today announced the appointment of Tony Delgado as Vice President, Broker Support. Delgado brings extensive knowledge and experience in the real estate industry to the role; including residential, new home, property management, commercial and investments. .
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How to Get a Colorado Employing Broker License
The Close
NOVEMBER 2, 2023
Employing brokers can manage brokerage offices and employ associate brokers to work for them. This short course will teach you the laws, business practices, and rules required to manage and operate a brokerage. First things first: In Colorado, a real estate agent is referred to as a broker.
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