Top Producers May 2024

“The world’s favorite season is spring. All things seem possible in May.” – Edwin Way Teale

The caveat of saying all things seem possible, is that all things ARE possible. Which, of course, embraces good and bad. Just like every day life, in every possible nuance, profession and industry. The month of May continued being a bit weird: The National Association of Realtors continues to grapple with the settling of commission lawsuits. Interest rates crept up a bit. Housing prices were steady in places, while dropping in others. Home builders decided if they were pushing ahead or scaling back. A lot of uncertainty colored everyday information and made a lot of folks hesitant to make a move to sell or buy.

As with every trend, something speaks to it, and something speaks against it. Despite the uncertainty, our Experts Next Door are showing up, adjusting to every new obstacle they face and doing the work necessary to get a listing and make a sale.

Jack Bailey

At the top of the trend in North Carolina, Jack Bailey and company at Help-U-Sell Greensboro. The top spot is retained with 16  total sides for May, with a worthwhile 11 coming from sellers. 

Second place is a two way tie between Debra Schmidt of Help-U-Sell Heritage Real Estate of Steele County in Owatonna, Minnesota, and Jeff Hedberg of Help-U-Sell Real Masters in Port Huron, Michigan. Both offices bring seven sides for May. 

In third place, another tie just one side behind: Richard Cricchio of Help-U-Sell Honolulu Properties in Hawaii, and Mario Ferrante from Help-U-Sell Metropolitan in Woodhaven, Michigan. Both put six per office on the board.

OfficeSellerBuyerTotal
Help-U-Sell Greensboro11516
Help-U-Sell Heritage Real Estate of Steele County Inc.437
Help-U-Sell Real Estate Masters527
Help-U-Sell Honolulu Properties426
Help-U-Sell Metropolitan426
Help-U-Sell Legacy314
Help-U-Sell Alpha Paladins Realty112
Help-U-Sell Bakersfield Equity Savers112
Help-U-Sell Sims Realty202
Help-U-Sell Integrity Real Estate112
Help-U-Sell Winn 4 U Realty 202
Help-U-Sell Sunrise112

On the Gross Sales Volume Report, it’s a familiar faces punctuated by surprising ones, which we like!

Richard Cricchio of Help-U-Sell Honolulu Properties

In the top spot, Richard Cricchio and the crew at Help-U-Sell Honolulu Properties in Hawaii. The very merry month of May was just over $8.9 million.

In second place, we’re back to Jack (Bailey that is) and his team at Help-U-Sell Greensboro in North Carolina. They closed May with $5.3 million.

Jack Bailey

Third place goes to Melissa Chan at Help-U-Sell Alpha Paladins Realty in Santa Clara. Her office brought $2.2 million for the fifth month. 

OfficeGross Sales Volume
Help-U-Sell Honolulu Properties$8,915,000
Help-U-Sell Greensboro$5,386,500
Help-U-Sell Alpha Paladins Realty$2,230,000
Help-U-Sell Legacy$1,709,000
Help-U-Sell Heritage Real Estate of Steele County Inc.$1,255,665
Help-U-Sell Real Estate Masters$1,133,122
Help-U-Sell Metropolitan$1,101,300
Help-U-Sell Prestige Properties$1,050,000
Help-U-Sell Bakersfield Equity Savers$925,000

The NAR Settlement and You

As you are aware, there has been a flurry of commission related lawsuits over the last couple of years. The resulting settlement proposal now in place will mean big changes in the way we negotiate commissions and how we disseminate that information.

The following is a summary of the specific changes that will go into effect on August 17. As much of the onus for practical implementation and enforcement of the new requirements falls on Multiple Listing Services, we recommend that you pay particular attention to any communication from your Board or MLS about how to function in this new business environment.

Specific changes include:

  • Eliminate and prohibit any requirement of offers of compensation in the MLS between listing brokers or sellers to buyer brokers or other buyer representatives. Essentially, the buyer agent compensation fields will disappear from MLS input forms and data. The prohibition also applies to any ‘workaround’ for non-MLS property databases, including Internet aggregators like Zillow. To discover if compensation is being offered by the listing broker or seller to buyer brokers, a call will have to be made.
  • Reinforce that MLS participants must not filter or restrict MLS listings presented to clients by level of compensation.
  • Require compensation disclosures to sellers, prospective sellers, and buyers.
  • Require MLS participants working with a buyer to enter into a written agreement with the buyer prior to touring a home. This requirement is particularly challenging because a written agreement must be in place before showing the first home to a buyer. Again, seek clarification and implementation strategies from your Board or MLS, but it would seem that some kind of one-time-showing agreement would have to be executed for each home until a full buyer consultation and buyer broker agreement is signed.

It is possible, after an adjustment period, the changes will mean that sellers will compensate their listing agents and buyers will compensate their own agents. It will mean that we will have to earn the right to represent buyers by making a clear case for the value we bring to a transaction(the Buyer Consultation), and the reasonableness of our compensation proposal.

Bear in mind the agreement does not prohibit a seller from offering compensation to a buyer’s agent. It just prohibits the publication or advertisement of that information. However, we are already seeing savvy sellers balking at the high commissions that have been offered to buyers’ agents in the past. Fortunately, Help-U-Sell brokers have been operating for almost 50 years on a reasonable set fee basis, so the changes will probably be less painful for us than some of our competitors.

To learn more, come to Power Hour tomorrow, June 12 at 9am Pacific Time, Noon Eastern. Open the Zoom App OR go to www.zoom.us, click ‘Join a Meeting’ and enter Meeting ID: 963 5169 9809 Passcode: HUS123

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