Lindy Chapman’s Post

Last week's #1000WATT conference was the first time I've attended a Real Estate Industry event where how to better serve #CONSUMERS (rather than agents) was the primary focus. As a 12x client-turned-Realtor often frustrated by outdated business practices, it was a welcome change! So THANK YOU Brian Boero and Marc Davison for gathering industry leaders to collaborate on ways to evolve as the industry shifts. Appreciate all you do to support brokerages, agents and innovators able and willing to evolve to better meet the needs of TODAY'S consumer and the hard-working agents who serve them! And excited to be part of the Geek Estate Mastermind -- thanks Heather A Harmon for hosting a fun dinner and conversations at Chet's! Nitesh Mehrotra, it was fun reconnecting again and loved introducing the rest of the gang to the best Mexican food at Javier's! And Marion Weiler -- what a fun connection after having just shared about the influence Cheryl Koenig had on my journey to change Relocation practices in the US! It's time for a new era in real estate--May the BEST agents and technologies win! #ReloTalk #Maythebestbrandswin #180Relocation #NotYourRealtor

#MovingandMarriage is hard! While living in Germany, David and I attended a marriage weekend led by our dear friends Mary and Dave Gothi. We admittedly went to support their new venture, but it turned out to be such a gamechanger for our relationship that we started hosting it in Frankfurt. And it undoubtedly protected our marriage when we repatriated back to the US. Moving is hard—But #Repatriation takes it to a whole new level! But if you have a “plan” and are willing to support each other’s dreams and purpose especially when starting a new chapter in life—it is a whole lot easier! Since the Gothi’s created the #TheSignificantMarriage, it has expanded to 6 continents and hundreds of couples representing more than 80 countries. And we are hosting it July 19-21 in Southlake, TX! Check out the video below with our friends Nick Vujicic and Jeff Crilley — and click the link in the comments for more details and to register! #SundayFunday #Relocation #ReloTalk

”Should You Negotiate What You Pay in Real Estate Commissions?” ⭐️What would your answer be to this question?⭐️ Journalist Jon Gorey asked this when he interviewed me for the following #BostonGlobe article in 2020–long before most in the industry were aware of the 2019 lawsuits that are finally bringing major changes to the industry. In the article, he provides insight as to what the consumer NEEDS to know -- knowledge that will be even MORE CRITICAL once new changes to commissions take effect August 17. 🔔 #1: “You can try to negotiate [commissions], but you have to be mindful that it’s often not the agent’s decision" [Sonia Gilbukh, assistant professor of real estate at City University of New York]. Agents at smaller or more innovative brokerage models often only pay a flat fee per transaction which allows them the flexibility to tailor commissions based on services. However, more traditional brokerages often require agents to charge a set commission as these companies depend on a 30-50% commission split in order to remain in business. And then there are the 30-45% referral fees agents pay to Zillow, HomeLight, Dave Ramsey or #relocation companies. Consumers NEED to KNOW the questions to ask to learn what their agent is ACTUALLY paid. And with changes in August, this will be even more critical! 🔔 #2: It’s best to set terms from the outset in the buyer’s representation agreement. “You can limit it to a specific date, area, ZIP code, the homes an agent shows....There’s nothing worse than feeling stuck with an agent...so limiting the agreement to a day would give you an easy out if needed.’’ [Lindy Chapman, founder of 180 Relocation]. 🔔 #3: Sellers should interview at least three agents before listing their home. “Sellers are often shocked to receive very different listing prices, marketing strategies, and commission prices. Some agents might over-promise a high sales price to essentially 'buy' the listing while [other] agents might suggest a much lower listing price to ensure the home will sell with as little work as possible.’’ [Lindy Chapman] (We are currently helping 3 out- of-state sellers interview agents and the suggested listing price difference has been as much as 25%!) ⭐️Agree? Disagree? Would love to Connect!⭐️ #RealEstateCommissions #RelocationStrategy #ReloTalk #NotYourRealtor

When it comes to marketing a home for sale, too often real estate videos and posts focus more on promoting the agent rather than the property itself. However, creating videos about what sets a property apart that will also be noticed by the Seller's friends, family, neighbors and colleagues can be amazingly effective at finding a buyer who may not be actively looking to purchase or may have simply missed the home in their online search. My interview below is an example of the marketing we use at #180Relocation. It's more than selling a house--it's selling what makes it #Home! Know anyone looking to buy a MOVE-IN READY home in Plano, TEXAS? Don't miss this gem designed by one of DFW's top designers! #RealEstateTips #HomeSelling #MarketingStrategy #Relocation #ReloTalk

If you are looking a great job networking opportunity, Trevor Houston’s event has 3 seats left for today’s #WhoYaKnow event in #Dallas! Feel free to contact me for details!

The term "economic moat" popularized by Warren Buffett refers to a business' ability to maintain a monopoly in order to protect its long-term profits and market share. According to Buffett, just like a medieval castle, the moat serves to protect those inside the fortress and their riches from outsiders. (Interestingly, Buffett's Berkshire Hathaway and its affiliate Home Services of America has acquired numerous RE brokerages and is one of the largest conglomerates in the US today). The Real Estate Industry has been able to maintain the 'moat' and block innovation that would allow its outdated practices to evolve with technology and the changing needs of today's consumers. However, consumers want the ability to control how they buy and sell houses the same way they watch a video or catch a ride. Gone are the days of #Blockbuster's late fees or standing on a corner to hail a Taxi -- yet the real estate industry has managed to block the ability of technology to bring similar innovation to buying or selling a home.... If a buyer or seller tried to go around the 'moat,' it would most likely cost them more money and time than it saved. Even agents and brokerages seeking to do things differently have been limited in their ability to innovate without putting clients at a disadvantage... ...Until now! Recent lawsuits are FINALLY opening the door to innovation and transparent commissions that will more accurately reflect services and results provided. ❓ Do you believe these lawsuits will finally remove the 'moat' that has allowed the real estate industry to operate more like a 'cartel' than a professional service❓ Please share your thoughts in the #Comments! #Relocation #RealEstateStrategies #ReloTalk #180Relocation

What's really behind the consumers’ frustration with the that Real Estate Industry? Robert Hahn sums it up brilliantly: "I argue that we cannot have concepts like “fiduciary duty” apply to real estate until and unless practitioners of real estate have some level of financial stability. It doesn’t have to be generational wealth. You don’t have to get rich doing real estate. But it does have to be enough that agents can resist doing the wrong thing.” And this distrust has been fueled by an industry that: 1️⃣ operates more like multi-level marketing scheme that makes money by attracting FAR more agents than needed vs. the number of homes for sale 2️⃣ too often leaves agents underpaid or working for free 3️⃣ refuses to acknowledge or address the problems created by its outdated business practices that not only fail today's consumers but the agents entrusted to serve them. The following is an insightful read. And would love to learn your thoughts in the #Comments! #RealEstateStrategies #Relocation #180Relocation #ReloTalk

Have you discovered a #career or role in life that ignites your #passion and #purpose? Couldn’t be more excited about my dear friend Bruce W. Waller, CRP, PHR, SHRM-CP ‘s latest book, “Drive with Purpose!” Bruce has inspired me since our first meeting over coffee. I was new to Texas and just re-starting my career after 20 years of relocating in support of my husband’s career. I had the hope of building a business to change the #RealEstate side of #relocation — but had been told by so many that it couldn’t be done and my experience didn’t “qualify” me. However, Bruce was there to offer encouragement as I created my own lane and cheer from the sideline as I pursued my purpose and passion that resulted from our own failed relocations. Don’t ever let anyone tell you your passion for something cannot fuel a successful career! And if you are in doubt, get this latest book — and while you are at it, go ahead and order his first two “Find Your Lane” and “Life in the Leadership Lane.” And for those who have found their “Lane” would love to learn in the #Comments the Purpose and Passions that fuel you!

I wrote the following #LinkedinArticle in 2018, more than a year before the Real Estate Lawsuits were initiated. Let's just say, it didn't go over well with many of my colleagues. I had just left a traditional brokerage out of shear frustration. The industry had never made sense to me as a consumer -- and after learning what was "behind the curtain" I was unwilling to operate in line with the anti-consumer business practices that blocked the industry from evolving with today's consumer. Imagine if Blockbuster Video had had a Lobbyist with the money and power of the #NAR? (We might still be paying late fees!) But I was able to find a broker and then eventually started my own Company 180 Relocation in order to tailor commissions and services according to what the #CLIENT needed -- not according to a brokerage's dependence on a 30-40% cut of its agents' commissions. However, up until now Industry #INNOVATORS have been limited in the ability to disrupt the BUY SIDE commissions without doing harm to the client. Plenty of companies have reduced the listing side to 1%--but if they offer less than 2.5-3% in buyer agent compensation, they risk agents who pay huge fees to Zillow, traditional brokerages, lead generation sites or relocation companies not showing the home to their clients. But recent lawsuit settlements have FINALLY blown open the door to allow commissions to more accurately reflect VALUE and RESULTS. We are still encouraging sellers to offer compensation -- but once changes take effect in #JULY we will be able to fully put it in the hands of the THE BUYER to decide how much they pay to their agent, and how much is applied to their closing costs. Let's GOoooooo! #RealEstate #Relocation #Innovation #ReloTalk

Interesting survey conducted by 1000WATT. How much do you think a Buyer’s Agent should be paid when purchasing a home? In order to provide a reasonable dollar amount, there are additional factors to consider including long-accepted industry practices that MUST change in order to reduce the cost of buying or selling a home. 🔴 Hidden Referral Fees that provide little to no benefit to the consumer. Until Zillow, Relocation Companies, HomeLight, Dave Ramsey and other lead generation sources are no longer allowed to receive “kickbacks,” sellers who don’t offer 2.5-3% in BA compensation risk agents who pay for leads from showing their home. 🔴 The oversupply of agents (1.5M+ agents yet only approximately 5 Million homes sold annually) 🔴 Lack of oversight/quality control (one of the biggest complaints from agents is the unprofessionalism of other agents) 🔴 Agents who overprice homes to get the listing (making buyer agents essential to negotiate overpriced properties) 🔴 The need for more efficient #BusinessPractices and greater #Transparency that would simplify the process and reduce the need/cost for a buyer agent (for example, requiring sellers/listing agents to conduct pre-listing inspections which would remove the guesswork for agents/sellers when pricing a home and reduce the need to renegotiate the offer price/repairs during option—similar to buying a Used Car). 🔴 Discrepancy in broker splits and fees. More and more agents are opting for flat fee brokerages that allow them to keep much more of the commission—yet the consumer has no idea if their agent is making 100% of the commission or paying 50% of to a 3rd party. Until these and other issues are addressed, it’s challenging to assign a dollar value to the Buyer Agent’s role. But as a consumer-turned- Realtor, I’m thrilled the lawsuits have opened up the long-overdue conversation surrounding fees and practices that in my experience are not only anti-consumer but unfair to the agents who seek to serve in the best interest of their clients. Brian Boero, thanks for your team’s research and look forward to learning more at the Summit in June! #Consumer #RealEstate #Relocation #Strategy #ReloTalk #RealEstateProfessional