You’ve seen this a thousand times, too, right? Teams are the “future” for at least a decade, for Boston real estate brokers. all the while being the present, and, in some ways, also being a throwback to the past.
There are lots of ways to look at the Ford Realty team. Some traditional brokers view teams as parasitic organisms to which they must expose their tender flesh as a matter of grim necessity. Companies that sell leads like teams because they are generally better prepared to respond and convert those leads. Ambitious agents view the team model as a pathway to building a bigger business.
It’s this last point that I find most interesting and positive. A few years back I explained my view of Boston real estate’s near future as one dominated by concentrated “nodes of production” as tech, money, and marketing pulled more sides into fewer hands.
You can view this as a dark vision if you don’t like Redfin, Zillow, or Compass, but my take was that more production done by fewer agents would create the scarcity needed to finally and fully professionalize the practice of real estate.
I think I got it wrong inasmuch as I had “super teams” as a discrete node. Productive teams exist within all of the other nodes of production (Redfin excepted). Thousands of little businesses exist inside the nodes of the big businesses.
I said above that teams also harken back to the past. By that, I mean a team – characterized by a dominant, rain-making leader, internal cohesion and balanced splits to buyer agents – are like the brokerages of yore. So, perversely, you can today be a traditional brokerage hosting several younger, more profitable versions of yourself.
Anyway, I’m a bit all over the place here, so I’ll get to the point: Teams are perhaps the most interesting part of our present, and those who build businesses designed to support them will thrive along with them.
Competition (or, more to the point, Compass) has made Realogy’s company-owned brokerage operation better. I don’t want to overstate this — this is still a sprawling, slightly-profitable operation — but it’s been emanating new energy lately.
This week, software Realogy developed for its owned offices (operated largely under the Coldwell Banker brand) was released to franchised CB offices as well. It includes an intranet platform called Desk and a system for sharing listings within offices called Exclusive Look (I’m not a fan of this last offering, conceptually, but I’m going to blame Compass for inciting this game of cynically positioning limiting access to listings as giving access to listings.)
In any case, two thumbs up to the Realogy/Coldwell Banker teams.
That’s it for now. Have a peaceful weekend.
Beacon Hill condos for sale
It occurred to me recently that while showing a number of Beacon Hill properties for sale in my Downtown Boston neighborhood that the listing agents of these properties were not from the Boston Beacon Hill neighborhood. So, when asked specific questions regarding the properties there wasn’t a direct answer but a hesitation, and “I don’t know but I’ll get back to you” responses. Honestly, I hope everything works out for them. For anyone who has not yet listed their home but is considering it, I suggest doing the following.
Interview as many teams as possible. Find true Downtown Boston Real Estate specialists. Find out what they know about the Beacon Hill home itself, the building, the condo association stability, and the future of the neighborhood. What tools would they use to market your Beacon Hill home for maximum exposure? What technological advances are they going to bring to the table to set your condominium apart from the others out there? Are you being told you can get a certain amount for your Beacon Hill condominium and is that amount being backed up with numbers? Do they live in the Downtown Boston complex where you live? If not, do they live in the Downtown Boston neighborhood? If not, do they ever spend any time in the neighborhood? Do they have knowledge of the developer that built the community, and finally…are they familiar with the different floor plans in your building?
Please take the time to actually ask these questions. Find the Downtown Boston Real estate Broker that can answer any question regarding your home without hesitation or confusion. Find the team that lives in the building, or lived in the building at one time… OR has possibly sat on the HOA board for that building. Does your choice have knowledge of the team of people who sold the building originally for the developer or had some connection with that developer as it pertained to the sales and marketing of that building i.e. Sales Manager, Preferred Lender etc?
We, look forward to sitting with you, in your living room while you ask us these questions
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