The local real estate industry can change fast – right after Labor Day the news hit regarding the purchase of Long & Foster by HomeServices of America. The affiliate of Warren Buffett’s Berkshire Hathaway acquired the 49 year old brokerage’s real estate activities, mortgage, settlement, insurance and property management services in big purchase for an undisclosed sum. Long & Foster will remain in operations under their existing name (for now).
“Berkshire Hathaway’s real estate interests now include the former Prudential brand and Long & Foster. Their total associate and realtor count now sits at around 41,000 nationally when you count Long & Foster’s 11,000 agents from the Mid-Atlantic Region,” commented Gerard DiRuggiero, Principal Broker of UrbanLand Company. “This type of consolidation is both exciting and frightening news to the local real estate industry.”
Are 2,000 local agents and another 9,000 other Mid-Atlantic region Long & Foster realtors in jeopardy by this acquisition? Probably not today, and probably not tomorrow. The purchase may even be a good thing for their respective individual businesses. What this type of disruptive purchase does show is that uncertainty and curiosity about the future takes time away and focus from prospecting and building your transaction flow.
Other recent industry consolidation on a smaller scale include news about several top producing team leaders and teams departing from the Compass brand in 2016 and 2017. “Major moves and transitions occur all the time in real estate. It can make your head spin if you’re a 1-, 2-, 3- year licensed agent just starting to find your way in the local business,” said Gerard. “These types of distractions while you are trying to build your business can be a major disruption to your momentum.”
“Our growth plan is to continue to make strategic moves that maximize our ability to put prospects and appointments right in front of our UrbanLand Company agents. It doesn’t get much more complicated than that.”
“We’re proud to execute solid, stable regional growth at UrbanLand Company,” said DiRuggiero, “Our ‘acquisition strategies’ is made up of moves that really benefit our brokerage agents — like purchasing buildings for 2 more regional DC and Baltimore offices, and continuing to invest big in our Agent Leads Generation Program and initiatives like our mobile Workshops initiative.”
If you’re frustrated by industry consolidation or feel like you’re stuck on the bottom of a team, give us a call at 202.759.4114! We practice agent-centered brokerage support designed to maximize your transaction flow. If you want to meet more prospects every single week, we have our own pipeline called the Agent Leads Generation Program!
Our in-house Agent Leads Generation Program naturally maximizes your in-the-field exposure as an agent. It doesn’t matter if you’ve been licensed 5 minutes or for 5 years. Our firm’s Program for lead generation and realtor development is highly effective. The main requirement for entry into the Leads program here is 2 things – your time commitment and a desire to max out your in-the-field exposure as an agent with the public.
CRM TRAINING & MONITORING
Every person you meet. Every hand you shake. Every phone call you take. Maintaining a pipeline is easy with our in-house assistance.
There’s a secret to generating business out of online real estate leads. It’s called an exclusive pipeline of potential clients who are asking for your advice and guidance.
Multi-week rotations leading a variety of topics in our Home Buyer Workshops pays off for agents!
Open House rotation puts you play with home buyers in great price ranges and gets you face-to-face strategically with other neighborhood potential sellers. Here’s some of our typical Open House opportunities.
Again, fundamentals matter. Neighborhood outreach delivers a high return on your time investment, if you follow the game plan.
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Here’s some recent closings from our Agent Leads Generation Program!