I’m having a hard time keeping up with the changing facets in the Boston downtown real estate industry.

Here’s the latest

From The Wall Street Journal: Struggling Real Estate Giant Realogy Strike deal with Amazon 

Real-estate brokerage giant Realogy Holdings Corp. launched a new partnership with Amazon.com Inc., in a fresh attempt at jump-starting the property firm’s flagging business and tumbling share prices.

Under the new program, known as TurnKey,  Boston downtown real estate buyers searching for an agent on Amazon.com will be directed to a Realogy agent in their market. These buyers get up to $5,000 of smart home devices and free home services from Amazon.

Realogy is hoping the power of the Amazon brand can energize its own amid a prolonged slide in its stock price. The company declined to comment on the agreement’s specific financial terms but said it is footing the bill for the home services from commissions earned from deals that the venture with Amazon is anticipated to generate.

Who pays for the service?

The agents do, and it can be a hefty referral fee – usually 25% to 40% of the commission.

However, you don’t get directed to the best agent in the area, oh no. You get directed to the best agent in the area who is willing to pay their fee.

We call this, “Buying The Business” and it’s what agents do who can’t earn the business otherwise.  Either agents can demonstrate their skill-level and abilities to consumers to earn their business, or for the agents who can’t, gimmicks or discounted commissions are used to ‘buy’ their business instead.

It’s just one more thing about the real-estate-selling business that isn’t disclosed to the public.

This gimmick is a way for Realogy to provide leads and keep more of their agent’s commission:

Will the public ever catch on to how the game is played?

The agents who are willing to pay for the leads either don’t have the skills, or can’t demonstrate them.( I’m sure I’ll get a email on the last statement).

Going through Zillow isn’t much better. The big realtor teams get the best leads there, and pass them off to their new agents and then take a large chunk of their commission.

Bottom Line: 

Agents all look the same, and the industry does nothing to help you differentiate.  You must do your own investigation to find out if your agent has the skills and ability to provide the help you need.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

What do they get?

Today’s newest Boston condos for sale


Sorry we are experiencing system issues. Please try again.

 

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

Comments

comments

Call Now