Did you miss our July Newsletter? Read about upcoming BOMA Boston events, news, and educational opportunities!

Read the August BOMA Enews.

August 2020 E-News
GBREB

 
 
 
 
 
 
 
 

 

Check out the July edition of the MAA Insider- featuring highlights from past events, information on upcoming events plus local and national multifamily news.

Read the August MAA Insider.
MAA Insider - August 2020
MAA

 
 
 
 
 
 
 
 

 

MAA is proud of our members by giving back to the community, always, but especially in these times. See below for some good stories during these troubling times.  If your company or a peer is doing something great to give back, feel free to email Courtney McHugh, cmchugh@gbreb.com to be featured on this page.
The Boston Business Journal names Metropolitan Cabinets & Countertops among the most charitable companies in Massachusetts. Click here for the full story.

The Peabody Companies
 partnered with the Boston Health Care for the Homeless Program(BHCHP) , completing a clothing drive with employees donating gloves, hats and undergarments to the organization. The company itself matched the donations, purchasing 20 winter coats to accompany the teams donation. Click here for the full story.
Support MAA's Charitable Partner, Rosie's Place! Click here to view what they are doing and how you can help.
By purchasing meals through Feed the Frontlines Boston, you will help fuel the extraordinary efforts of our city's healthcare workers while also supporting our local restaurants and employees. With your support Viga Italian Eatery and Shed's BBQ can delivery healthy, fresh and free meals to Boston's amazing doctors, nurses and medical staff. Click here to take action!
Yardi Systems has always supported the communities in which its offices are located. In March, Yardi committed millions of dollars for hunger relief services across North America in response to the COVID-19 pandemic. Recently, the real estate software leader announced a second round of funding for these 22 food banks. Among them was the Greater Boston Food Bank, which has received $74,000 to date.
MAA Gives Back!
MAA
As advocates for their clients and the industry, the 30-Under-30 honorees of 2020 are rising to previously unimaginable challenges. In this year, which marks the program’s 20th anniversary, these high achievers are facing a previously unthinkable set of obstacles stemming from a national crisis. 
 
GBAR member Kimberlee Meserve of Keller Williams Realty Chestnut Hill was named to this year's class making for the eleventh GBAR member to achieve this status. Read more about Kimberlee here.

Past GBAR 30-Under-30 Honorees:

2007: Suzanne Koller
2008: Jessica Ye
2008: Mike DiMella 
2009: Elad Bushari
2011: Joanne Taranto
2013: Andrea McDonough
2015: Eric Rollo
2017: Ryan Glass
2018: Randy Horn
2019: Josh Stiles
2020: Kimberlee Meserve
GBAR Agent Named to REALTOR® Magazine’s 30-Under-30 Class of 2020
GBAR

Article Courtesy of: Inman News
By: Bernice Ross
 

This week, Tami Bonnell, the CEO of EXIT Realty, weighs in on ways agents can provide more value to their sellers on their next listing appointment and the 4 questions they need to ask clients
 
How can you convert more listing appointments into signed listings? Tami Bonnell, the CEO of EXIT Realty, says it starts with the mind-body connection, asking four key questions and becoming the solution to your clients’ problems rather than being the local expert or “trusted adviser.” 

I normally wouldn’t expect the CEO of a major real estate franchise to be an expert on listing appointments, but in this week’s video, Bonnell shares a powerful approach that not only helps you take more listings, but also create customers for life.

The mind-body connection

According to Bonnell, who is also a third-degree black belt, martial arts is more about the mind-body connection and being in control as opposed to fighting. 

In the circumstances we’re facing right now, she advised that the more you can stay in the present tense, the better off you’re going to be. 

“For me, when I’m in the present tense, and I’m really present, I’m actively listening to another person,” Bonnell said. “I make [the conversation] personal — completely about that person. I put myself in their shoes. I do homework on the human being more than I actually do on the product, to find out what’s really important to that person, what their personality type is.”

Bonnell then Googles them, friends them on Facebook, connects with them on LinkedIn and finds out what’s going on in their real world. Whenever someone tells her that she seems to do a lot of homework, Bonnell typically responds by saying that the client is important enough for her to do that homework. 

‘Value equals income’

According to Bonnell, the most important question an agent should ask is: How can I add value to your life? It doesn’t matter who Bonnell is in front of, her goal is always to add value to her clients — whether they list with her today or not. Sometimes, Bonnell said, the timing is just not right for them. 

At the end of the day, Bonnell’s mindset is focused on being the solution that helps people solve their problems.

Whether it’s helping them push back their mortgage payments a few months or showing how they can capitalize by investing in “opportunity zones” as a strategy to reduce their capital gains tax on their investments, this is what builds value and strong relationships that result in more listings and referral business. 

The 4 questions that create value

After one of her talks on creating value, Bonnell was approached by one of her agents who was going on a listing appointment later that day and was competing against three other agents. The seller was a man his 70s who owned a business and was possibly retiring. 

Bonnell advised him to do the homework (search the seller on Google, friend him on Facebook, check his LinkedIn profile, and find out more about him as a person). She then told him to ask the four following questions:
Where do you see yourself in the next one to three years?
What are your real estate dreams?
If you could wave a magic wand in a perfect world, paint that picture for me.
Why are you having me over to list your house? Do you want to list today, or is there something you want to get for a return out of listing your property? 

The agent followed Bonnell’s advice. He discovered the seller wanted to retire to a waterfront property on the North Carolina coast in two or three years. The agent advised the seller that area was appreciating rapidly, and it would be smart to buy as soon as possible. The agent then referred the seller to another agent who could help him with his purchase.

The agent also recommended that it would smart to delay selling his current property because it was still appreciating. The agent would stay in touch to keep the seller apprised if there was any change in the trends. 

This advice stopped the seller short. The three other agents were only focused on taking the listing. The agent also explained the benefits of investing in opportunity zones.  

The bottom line was the seller bought the home in North Carolina. By waiting to sell his existing property, he received $150,000 more than he would have if he had sold earlier.

Moreover, with the agent’s help in terms of understanding short-term rentals and opportunity zones, the seller ended up paying off the investment property in two years. This agent helped the seller increase his net worth by about $2.4 million. 

Be the solution

Bonnell explains the benefits of using this approach. Although you may not always get the listing, what you’re attempting to do is a build a reputation that you’ll always work directly with the client on their behalf and find solutions to their problems.

Too many people are worried about the gadgets and gizmos galore. “I believe in the human behind the device and the human behind the transaction,” she said. “If we can do any of those things that’ll make the transaction easier, smoother, faster, more effective, I’m all i

However, she added, technology can never replace the value agents can bring to the transaction. Agents have an opportunity to pour not just their hearts, but also their vast knowledge and expertise into their clients so they can make the best decision possible based on where they are right now. 

“We’ve got to get rid of that salesperson mentality and get into that solution mentality,” she said.

If you want to earn your keep, justify your paycheck, and compete against the $8.8 billion that was spent with disruptors last year, you must be able to show your sellers how you will give them a great return. If the seller gets a great return, do they really care how much they pay you in commission? 

Bonnell had this final piece of advice about what you can do to take more listings. Take 120 seconds at the beginning of the day, before any appointments, to picture how you want your day or that appointment to go. Picture how you want the people to feel. The end result? You will come closer and closer to what you picture every time.

Bernice Ross, President and CEO of BrokerageUP and RealEstateCoach.com, is a national speaker, author and trainer with over 1,000 published articles. If you’re ready to List & Sell Real Estate Like Crazy, learn more about how to do it https://realestatecoach.com/training/list-sell/ If you’re a new agent who wants to successfully compete even against even the best agents, check out our online new agent sales training at RealEstateCoach.com/newagent 

Want to Convert Listing Appointments Into Signed Listings? Here's the Solution
GBAR

Expand Your Business and Horizons!


Cultivating Multicultural Relationships is Good for Business

REALTORS® know the importance of adapting and remaining relevant in today’s marketplace. By developing a business practice rooted in inclusion and equality, you can help buyers of all cultural backgrounds achieve the dream of homeownership.

This two-day At Home With Diversity® (AHWD) certification course teaches you how to work effectively with diverse populations so you can build business success in today’s multicultural real estate market.

2 MA CE Credits Offer: Fair Housing (RE19RC12)

Instructor: Leigh York, 2018 REALTOR of the Year, Greater Fort Worth Association of REALTORS® Texas Real Estate Broker, ABR, GRI, CRS, SRS, TAHS, RSPS, SFR, AHWD,NHS, SRES, MRP, CUE, RFC, RENE
Leigh is a third-generation real estate licensee who has managed staff and hundreds of agents. She now sells real estate and speaks nationally along with some broker and culture coaching. She wants your business to succeed and is excited to share some of her ‘lessons learned’ with you!

Pricing: $45.00*

Register Here!

Earn Your At Home With Diversity Certification!
GBAR

 

Article Courtesy of: Inman News 
By: Brandon Dolye

Thriving in a shifting market is all about making adjustments. Here's how one Utah-based real estate group doubled production by adopting gamification — yes, in the midst of this pandemic.
 
The pandemic has been tough on all of us. Some of us couldn’t even show homes. All of us made adjustments. But not everyone took a production hit. Some teams are still on track with their original goals. Others are actually doing better this year compared to last year.
 
I love the saying that’s become common in a lot of Facebook groups I follow: “Yea, there was a 50 percent reduction in transactions during the pandemic — but there was also an 80 percent reduction in competition!”

Surviving the pandemic was about adjustments, but thriving in the pandemic? Is that even possible? 

I saw a lot of cool things from teams in my network, and a lot of lessons to be learned for when markets shift, and times become uncertain. One of the coolest was from a team just north of Salt Lake City that actually doubled its production in the midst of massive uncertainty. (I have the numbers to prove it!)

How Utah Life doubled their production during the pandemic

Before we dig into the numbers, here’s what you need to know about Utah Life Real Estate Group. They have 20 total team members — around 14 full-time agents, a couple part-timers and a handful of administrative staff.

They run a full team model and provide coaching, systems and accountability for all of their agents. A lot of their coaching is around mindset.

Also, they are extremely driven by numbers, goals, and achievement. They are the team around which the idea and concept of Sisu was born. A lot of the screenshots showing their numbers and production are taken from their Sisu dashboards. 
Utah Life has some very cool graphs, which make it super simple to see just how much they crushed it during March and April. 

Take a look at this chart of their signed units. This is impressive, especially considering that they lost one of their top producers in November of 2019.



This is a chart of their under-contract units. Compared to same months in 2019 and 2018, their under-contract units increased in April and March of 2020.


Use of gamification to drive real estate sales

Gamification has become popular in sales because you can tweak the system to produce the exact results you’re looking for.

A lot of other industries rely heavily on their compensation plans and promotion paths to do this — a careful concoction of payments, promotions, recognition and accelerators that align incentives across a sales team and make things work. 

This, of course, happens in real estate as well, but to a lesser extent. Almost all of our teams and brokerages are 100 percent commission-based contractors. It’s harder to create a culture where incentives are aligned, but here’s where gamification comes in. Gamification can help you align incentives, tighten your culture and drive key metrics that you know will create results. 

In this case study, Utah Life focused heavily on a few different leading indicators such as conversations and appointments set. See the huge spike in conversations on their graph above, which pretty much fueled everything. I believe the point system was as follows: 
Conversations: 10 points each.
Appointments: 100 points each.
Client placed under contract: 500 points.
Daily exercise: additional 30-point bonus.

Where this system breaks

You’ll want your most OCD team member running your gamification. That person who’s got your CRM system dialed in to the last one and zero? That’s exactly who should run a system like this. 
They’ll love it, too, because this is the type of thing that actually drives adoption with all of your systems. Didn’t happen in the CRM? It didn’t happen at all. Here’s where teams go wrong: 

You rely on your agents to enter 100 percent of the data. For obvious reasons, there won’t be a lot of enthusiasm around this. Tie it to your CRM so that your agents can stick to their current processes.
You don’t have a live scoreboard. Can you imagine going to a basketball game without a live scoreboard? There would be no drama. No excitement. And a lot less competition pushing everyone to do their best. If you can, get a 24/7 live scoreboard. This alone should create a 30-percent boost in production.
See this case study with Glassdoor sales team on page 125. They increased their booked meetings by more than 50 percent while going from little to 100 percent CRM adoption. Not real estate sales, but similar concepts apply. Make it fun, visible and fair. 

The competition doesn’t have to be inside your team only

One thing that I thought was really cool about the contest was that the competition was not only internal. Too much internal competition can be unhealthy. There’s a fine balance.

But you probably know other real estate teams that are around your size and level. You network with them on Facebook, or maybe they compete in another market that’s not super close to you. 

Creating competition with other teams can be an extremely fun and healthy way to drive results. You can put up a prize (for example, $500 to the top agent) but set stipulations that the losing team has to front the prize money. Have fun with it!

The exact specifications of one of the contests Utah Life ran during the pandemic was the Utah Life versus Bowen Adams Real Estate contest. You can also see their joint scoreboard in Sisu below.
Top agent got $1000, second place $500 and third place $250.
The contest ran for 10 days from April 20 to April 30.
Agents earned 500 points for units placed under contract.
Agents earned 300 points for signing a listing.
Agents earned 200 points for signing a buyer.
100 points for each attended appointment (buyer or seller).
5 points for each prospecting conversation.

On my team, personally, we’ve done monthly and quarterly competitions for things like most open houses, five-star reviews, showings, appointments or even just days of activity logged.

We set it up so anyone would have the opportunity to win something — not just the top producers. Prizes have included gift cards and team swag members could pick from. 

We’ve also done group goals where anyone who meets the goal is invited to lunch or happy hour and other team-wide goals that included a team outing for everyone. Before the pandemic shut us down, we were planning on doing “top golf”!

The three steps to making gamification happen


To sum things up, I think Utah Life’s success during this period boils down to a handful of key elements: 

1. They met daily on Zoom to go over numbers, offer quick training and keep the motivation high.
2. Their leaderboard was highly visible 24/7 via web and mobile apps. 
3. The contest was clearly defined and the numbers were simple to track — often, 100 percent automated from the CRM. 

I see a lot of team leaders and brokers pushing gamification, but this one was an eye-opener as to just how effective this strategy can be. 

Brandon Doyle is a Realtor at Doyle Real Estate Team — Re/Max Results in Minneapolis and co-author of Mindset, Methods & Metrics – Winning as a Modern Real Estate Agent. You can follow him on Twitter.
Use Gamification to Boost Agent Production
GBAR

NEW Property Manager Certification Program
Finally, the commercial real estate industry has a professional certification that provides early recognition for foundational knowledge and guides the next generation of property managers toward greater responsibility and success in their careers: the Certified Manager of Commercial Properties (CMCP)

CMCP is the only certification of its kind for early career commercial property managers – you may qualify with as little as one year’s experience

Instantly communicates your ability to be an effective commercial property manager with a strong understanding of the responsibilities of the role

Offers recognition early in your career and increases your value to your company and the industry

Signals to employers you have the potential to advance and grow in your career and can navigate the fast-changing world of commercial real estate

Boosts confidence by validating your knowledge of fundamental commercial real estate operations and management principles

May increase your chances for promotion and/or additional responsibilities and opportunities

Learn more here! 

CMCP for Emerging Professionals
GBREB

REFA Members,

2020 has been an unexpected year, and REFA thanks you for your continued support of our organization. 
Click on the photo below to view a special video message from the 2020 REFA Board.
REFA Board Video
GBREB

Did you miss our July Newsletter? Read about upcoming BOMA Boston events, news, and educational opportunities!

Read the July BOMA Enews.

July 2020 E-News
GBREB

 
 
 
 
 
 
 
 

 

Check out the July edition of the MAA Insider- featuring highlights from past events, information on upcoming events plus local and national multifamily news.

Read the July MAA Insider.
MAA Insider - July 2020
MAA

BOMA Boston is proud of our members by giving back to the community, always, but especially in these times. See below for some good stories during these troubling times.
If your company or a peer is doing something great to give back, feel free to email Courtney McHugh, cmchugh@gbreb.com to be featured on this page.


BOMA is proud of our Benefit Sponsors who generously donated their sponsorship dollars and dozens of members who purchased raffle tickets online for a combined total of $45,000 that we were able to donate to our charitable partner, Bridge Over Troubled Waters! Every year, Bridge Over Troubled Waters serves over 2,000 homeless, runaway and at-risk youth. Right now, with schools closed, many hourly jobs shut down, and some unsafe home environments, Bridge provides crucial shelter, food, resources and social services for the youth of Boston. Click here to view their website and donate!

Rockhill Management's highly anticipated Food Hall, High Street Place, was set to open in March between Federal Street and High Street in Boston.  Although the doors have not yet opened, several of the restaurant partner's are still there cooking meals for front-line workers during the COVID-19 crisis in hospitals in the Greater Boston area. Click here for the full story. 

In March 2020, Siena Construction completed a fast-track laboratory conversion project for the Broad Institute of MIT and Harvard, providing an important addition to the scientific research challenges posed by the COVID-19 Pandemic. Click here to view the full story.

BOMA Members from Progroup Contracting are raising funds to purchase Ipads for local hospitals with COVID-19 patients to ensure that they are able to connect with their loved ones. Click here to donate.

By purchasing meals through Feed the Frontlines Boston, you will help fuel the extraordinary efforts of our city's healthcare workers while also supporting our local restaurants and employees. With your support Viga Italian Eatery and Shed's BBQ can delivery healthy, fresh and free meals to Boston's amazing doctors, nurses and medical staff. Click here to take action!




BOMA Gives Back!
GBREB
Article Courtesy of: Banker & Tradesman

The Federal Housing Administration and the Federal Housing Finance Agency have extended their COVID-19 foreclosure and eviction moratoriums for the second time, this time for two months.

The FHA’s measures will expire Aug. 31. A first extension issued mid-May would have expired June 30. The measures cover homeowners with FHA-insured Title II single family mortgages and including reverse mortgages.

In its announcement, the FHA encouraged mortgage servicers to: halt all new foreclosure actions and suspend all foreclosure actions currently in process, excluding legally vacant or abandoned properties, and cease all evictions from FHA-insured single family properties, excluding actions to evict occupants of legally vacant or abandoned properties.

“While the economic recovery is already underway, many American families still need more time and assistance to regain their financial footing,” HUD Secretary Ben Carson said in a statement. “Our foreclosure and eviction extension means that these families will not have to worry about losing their home as they work to recover from the financial impacts of COVID-19.”

Homeowners with FHA-insured mortgages should continue to make their mortgage payments during the foreclosure and eviction moratorium if they are able to do so, HUD said, or seek mortgage payment forbearance from their mortgage servicer under the terms of the CARES Act , if needed.

Under that legislation, mortgage servicers are required to:
Offer borrowers with FHA-insured mortgages up to a year of delayed mortgage payment forbearance when the borrower requests it. FHA does not require a lump sum payment at the end of the forbearance period.
Assess borrowers who receive COVID-19 forbearance for its special COVID-19 National Emergency Standalone Partial Claim before the end of the forbearance period. The COVID-19 National Emergency Standalone Partial Claim puts all deferred mortgage payment amounts owed into a junior lien which is only repaid when the borrower sells the home, refinances the mortgage, or the mortgage is otherwise extinguished.

The FHFA also extended its single-family moratorium on foreclosures and evictions until at least Aug. 31. The foreclosure moratorium applies only to single-family mortgages backed by Fannie Mae and Freddie Mac. The current moratorium was set to expire on June 30.

“To protect borrowers and renters during the pandemic we are extending the Enterprises’ foreclosure and eviction moratorium,” FHFA Director Mark Calabria said in a statement. “During this national health emergency no one should worry about losing their home.”
FHA and FHFA Extend Foreclosure and Eviction Moratorium
GBAR
Article Courtesy of: Inman News
By: Bernice Ross

As COVID-19 cases have begun climbing again, and you can no longer door-knock, hold traditional open houses or attend face-to-face networking events, now is a great time to consider how to make phone prospecting a key part of your business plan. 

Greg McDaniel has been in the business for over 20 years, and to date, he has made almost 500,000 cold calls. If you use the phone to prospect, his scripts, strategies and tactics are pure gold. Major caveat: Always make sure to scrub the list of names you call against the do not call list.

1. Make a plan

Before you begin prospecting by phone, you need a plan that includes who to call, what benefit you will provide to the person you are calling and a specific script or strategy for converting that call into a viable lead. 

2. Provide more value than just a CMA


When agents call for-sale-by-owners (FSBOs) and owners of expired listings or cold call into a geographical farm, most offer a competitive market analysis and not much else.

You can enhance your CMA by providing the reports from NARRPR.com (free to all NAR members) and HomeDisclosure.com, which provides a wide variety of additional data about the property. These reports will generate over 25 pages about the owner’s property and will definitely make you stand out from the competition. 

3. Call FSBOs

McDaniel uses RedX for his lead generation and to scrub his contacts against the do not call list. He often makes 500 to 750 calls per day using their triple line dialer.

In terms of converting FSBO leads, McDaniel has had great success explaining the landmines sellers face due to the pandemic. For example, most homeowners in California are unaware they are required to sign a special disclosure statement every time an agent shows their house. Many are also unaware of the cleaning and other showing protocols currently in place. 

To use this approach in your business, investigate the guidelines for your state, and share them with any FSBOs you call.  

4. Prospect for-rent-by-owners (FRBOs)

McDaniel’s top tip is to call FRBOs. These people are often investors who own multiple properties. Most are interested in expanding their portfolio, which means they’re constantly on the hunt for the next property to purchase. Others may want to sell and trade up or invest in a different area. 

When you connect with a FRBO, ask about their current property. Follow up by asking where they would like to be five to 10 years in terms of their property portfolio. If they express an interest in growing that portfolio, dig deeper to see what types of properties they would like to purchase. 

5. Use scripts that work

What will you say to the person you’re calling? Always introduce yourself, give your company name, and say why you are calling. Here are McDaniel’s five best scripts: 

1. The direct approach
This script gets straight to the point — is the person you’re calling considering transacting right now? Here’s what McDaniel says. 

“My name is Greg McDaniel with ABC real estate. Because I know you’re busy, I just want to call and quickly ask: Are you considering selling your home this year or buying an investment property?”

2. The indirect approach: Have some fun
A classic script cold callers have used for decades asks, “Who do you know who is thinking about buying or selling a house now?” Here’s McDaniel’s twist on that script. After bantering with them for a few moments, he asks: 

“Which one of your neighbors should I call to see if they would want to move — you know, which one would you like to see leave?”

This gets them laughing. At that point, offer the report with the NARRPR and HomeDisclosure.com data. This gives you a reason to stay in contact with them and ultimately become their agent when they’re ready to transact. 

3. Go for ‘no’ coupled with ‘FORD’

The third approach McDaniel uses is doing a “pattern interrupt.” In this case, you’re actually seeking a “no” answer. To do this, ask the person a question they have never been asked before. The one McDaniel recommends is:

“You know what Sally, I bet you’re not thinking about selling your home this year.” 

No matter how they respond, you reply:

“That’s exactly why I’m calling today.”

The next step is to use “FORD” or “FROG” to continue the conversation and get to know them better. These stand for: family, occupation, recreation and dreams/goals. 

McDaniel says this is the most powerful approach he has ever used to build rapport. Questions to ask include inquiring about their interests outside of work, local recreational spots they may enjoy or their long-term dreams about where they would like to be in five or 10 years. 

Be sure to ask questions that begin with “how” or “what.” These are known as “open-ended questions” and will give you the most information. 

Sooner or later in the conversation, real estate will come up. The most common question you will hear is, “Well, how’s the market?” Again, offer the enhanced CMA that includes the NARRPR and HomeDisclosure.com reports. 

4. Let neighbors know when a house goes ‘pending’ on the MLS

The public can see when a house is listed or when it has sold, but they don’t have access to the pending sales. Here’s what to say:

“I’m just calling to let you know the house at 123 Main Street has just gone under contract. I was wondering if you might like to find out how much your house is worth?”  

Send them your enhanced CMA, or if possible, preview the property to have a better idea of what it’s worth. 

5. Invite them to a virtual open house exclusively for neighbors

This is a twist on traditional open house where you invite neighbors to attend a private open house with refreshments that runs from 12-1 p.m. before you open the property to the public from 2-4 p.m. 

The first step is to use your phone to create a video where you walk around the outside of the property and then in each room. Second, call neighbors who are not on the do not call list, and say the following: 

“With everyone social distancing these days, traditional open houses are no longer possible. I’m not sure who you may know who might be thinking about moving into the area, but I wanted to personally provide you with the opportunity to view my live walk-through of the property on Sunday at 1 p.m. At that time, I can answer any questions you may have. If you do know someone who may be interested in viewing the property, you can send them the link to the video as well.” 

This approach helps you to: 
Grow your database.
Show potential clients you respect their health. 
Minimize your seller’s exposure to people physically viewing their home. 
Create the visibility and exposure you need to sell the home. 

McDaniel’s final piece of advice is to realize that in most cases, you won’t convert a person from a single call. While that does happen occasionally, what you’re really doing is building a relationship so that when they are ready to transact, they will call you. 

Bernice Ross, President and CEO of BrokerageUP and RealEstateCoach.com, is a national speaker, author and trainer with over 1,000 published articles. If you’re ready to List & Sell Real Estate Like Crazy, learn more about how to do it
https://realestatecoach.com/training/list-sell/ If you’re a new agent who wants to successfully compete even against even the best agents, check out our online new agent sales training at RealEstateCoach.com/newagent 

10 Scripts and Strategies for Today's Prospecting Agent
GBAR
REALTOR® DAY ON THE HILL GOES VIRTUAL! 

If you have never attended REALTOR® Day on the Hill then here’s your chance to participate in the comfort of your own home without going into Boston. REALTOR® Day on Beacon Hill is YOUR chance to let legislators know your opinions and concerns facing the real estate industry. Learn about the key legislative issues in 2020 that will affect the real estate industry and private property rights. Attend REALTOR® Day on Beacon Hill to get up close and personal with legislators and make an impact on the legislative process! 

2020 Legislative Priorities Talking Points

 
We encourage you to register and attend one or more of our upcoming meetings with state legislators from GBAR’s local regions:
All virtual events begin at 10:00 a.m.
 
 DATE             REGION
Wed., July 8    Metro Boston  
Mon., July 13    Central Middlesex
Thurs. July 16   Eastern Middlesex
Mon., July 20    Metro West
Mon., July 27  Southern Norfolk  
Find your region by town via the map below!

GBAR Regional Map

Click here to register!


Questions? Contact Jeff Pappas at 617-224-9303 or jpappas@gbreb.com
REALTOR® Day on the Hill Goes Virtual
GBAR
Article Courtesy of: Inman News
By: Jay Thompson

Now is the time to give your web presence a second look. Follow these steps to create a profile potential buyers will gravitate toward

Your real estate agent profiles — those pages scattered about the internet that invariably include your photo, an “about me” section, and maybe areas to display your listings and past sales — are often the first places potential buyers or sellers will find you as they begin the process of deciding which agent to hire.

Given that reality, real estate agent profiles should be crafted with care and consideration. After all, you’re marketing yourself, so you want to put your best foot forward anywhere you have the opportunity to connect with a potential client.
Yet the web is filled with — let’s be honest — some pretty bad profile pages. You know the type: fuzzy images, outdated copy, sales speak. The list of grievances is almost endless.

Why are some profiles disasters while others are marketing masterpieces?

I don’t know. Maybe some real estate agents aren’t sure why profiles matter or don’t understand how to make them consumer-friendly. Crafting a good one probably seems overwhelming. Often, people quickly build a profile page and never look at it again.
Whatever the reasons for subpar online profiles, now is the time to give your web presence a second look. Start pulling up your profile pages, and ask yourself a few questions:

Let’s take a closer look at each of these focal points.

Pick the right photo

Have you ever seen marketing material from a real estate agent and said to yourself, “Wow, I wonder how old that picture is?”

You know you have.

Don’t be the person in that photo! You don’t need to update your headshot every six months, but if you’re using an image that looks more like your high school yearbook photo than something taken in the past couple of years, it’s time to make a change. “Glamour Shots” were a thing — 30 years ago. Today, not so much.

Avoid the “headshots” that are simply logos. People want to connect with you, not a logo. Ditto with your dog, your cell phone, a “Just sold!” rider or any other prop. Get a professional headshot, cropped so your smiling face is the focus of the photo. Don’t clutter it up with stuff that doesn’t matter. Just you and your face.

Clarify your education credentials

Think back again to real estate profile pages you’ve seen. Does this look familiar?

Jay Thompson — MBA, ePro, ABR, CRS, CRE, CIPS, GRI, CPM, SRS

Impressive?

Not really. Don’t get me wrong, education is important — crucial, even. But how many consumers — you know, the folks looking at your profile and deciding whether or not to hire you — know what any of those abbreviations after your name mean?

The answer to that rapidly approaches zero.

So, spell it out, but not just by saying, “I am an accredited buyer’s representative!” That still doesn’t mean much. Try something like this:

“I believe in continuing education. It helps me to be a better agent for you. I’ve spent 200 hours in the past two years training, learning and refining my craft — so that I can better serve you.”
If you really want to get into the details of your credentials, consider linking to pages that explain what you learned in those designation classes.

Define your USP

Your USP — unique selling proposition — is what sets you apart in the sea of sameness. Odds are pretty good that there are a lot of real estate agents in your market, all competing for limited buyers and sellers. What makes you different from all of them?

It is not an easy thing to define, but a good USP, if it’s communicated well, will really help a consumer understand what you can do for them. And remember, it’s all about them, not you.

Here is a good article on building a USP. Give it a run-through (be sure to watch the video, too), and get that brain thinking about what makes you stand out from the pack.

Watch the agent-speak

“I closed 43 sides last year — I can sell your home too!”

As real estate sales professionals, we know exactly what that sentence means. But what about that potential homebuyer? The guy who hasn’t bought real estate since he grabbed a cheap condo nine years ago sees “sides” and thinks “baked potato or fries?”

It’s very easy to include words and terms that you see and use every day. Take a step back, and look at your real estate agent profile from the perspective of a consumer. Spell out abbreviations. Define industry-specific terms — or better yet, just avoid them.

Don’t force potential customers to try and translate your agent-speak into terms they understand. The simple fact is they won’t translate; they will move on to the next profile.

Stop the hard sell

Your real estate profile is your biography. It’s a place for someone to learn about you, how you work, and what you can do for them. Although you use it to market yourself, it’s not an overt advertisement. Hard selling on your profile might cast you as “one of those agents” who seems to only care about their next commission check.

I’ll say it again: It’s about them, not you. Your profile is a place for potential clients to get to know you. Real estate is still a very personal, face-to-face business, and your profile may well be your first chance to impress. Don’t make that impression be of a pushy salesperson.

Make it reflect the professional, helpful and caring real estate agent that you are.

Profiles are important. They are often the first thing your potential clients will see, and first impressions count. Many people will use profiles almost exclusively to determine which agent to reach out to. I did, and I am far from alone.

You should have an optimized profile on every available site. Zillow (your Zillow profile is automatically ported to Trulia), realtor.com, your brokerage website, your website, Google My Business. Check your MLS and local association, they might offer profiles pages, especially if they have a public-facing website.

If you’re in Texas, the Houston Association of Realtors provides profile pages for any agent in Texas. See if your chamber of commerce offers a business directory.

Most sites charge nothing to build a profile. Some, like a local chamber, might require you to be a member before you can build a profile. The time you spend building — and updating — profiles is time well-spent, and the return can be significant.

Jay Thompson is a real estate veteran and retiree in Seattle, as well as the one spinning the wheels at Now Pondering. Follow him on Facebook, Instagram and Twitter. He holds an active Arizona broker’s license with eXp Realty. “Retired but not dead,” Jay speaks around the world on many things real estate.
Your Profiles Matter! Take Time to Perfect Them
GBAR
GBREB NEWS

Newton Centre Realty, Inc v David Jaffe

Newton Center Realty, Inc. V David Jaffe
Massachusetts Appeals Court
No. 19-P-1082
Argued 3/3/20-Decided 6/23/20

On June 23, 2020 the Massachusetts Appeals Court decided a case of first impression in the Commonwealth regarding brokerage fees.  The question addressed was does the death of a seller terminate a real estate brokerage agreement between the seller and a broker.

Facts: 
In 2017 a seller entered into three exclusive brokerage agreement to sell two residential properties in Brookline and one in Newton.  The agreements were on standard GBREB forms.  Under each agreement the broker was entitled to a four percent commission.  The seller died and the seller’s son sold the properties independent of the broker, but within the exclusivity period of the agreements that had been properly executed.  The broker sued the Sellers estate and was unsuccessful at trial.  The case was brought up on appeal. This issue had not been decided under Massachusetts law.  

Decision: 
The agreements here created a principal-agent relationship that entitled the broker to a commission if Shirley’s (the Seller) properties were sold within the exclusivity period.  They did not confer an interest in the property.  Accordingly, Shirley’s death terminated the agency relationship, and the broker was not entitled to recover contract damages from Shirley’s estate.  The Superior Court judge properly dismissed the complaint for failure to state a claim. 
The Appeals Court upheld the lower court ruling that the death of the seller terminated the agency relationship, and the broker was not entitled to a commission.
 



Broker Fee Appeals Court Decision
GBREB

Congratulations, BOMA Boston!
Together, we raised $45,000 for Bridge Over Troubled Waters!

March 25 was intended to be the 2020 BOMA Boston Benefit, supporting Bridge Over Troubled Waters. Unfortunately, we had to cancel this in-person event.

Instead, most of our of sponsors generously donated their sponsorship dollars, and dozens of members purchased raffle tickets online, for a combined total of $45,000!

We are so proud to be able to provide Bridge Over Troubled Waters with financial support during this challenging time. Every year, Bridge serves over 2,000 homeless, runaway and at-risk youth. Right now, with schools closed, many hourly jobs shut down, and some unsafe home environments, Bridge provides crucial shelter, food, resources, and social services for the youth of Boston.

On June 18, Adrienne Maley, BOMA Boston Executive Director, and Shawn Carroll, CBRE, BOMA Boston President virtually presented Elisabeth Jackson, Executive Director of Bridge Over Troubled Waters with a $45,000 donation to support their work.
Please view the donation presentation here. 

Check out sponsors, raffle winners, and more here!

BOMA Benefit Raises $45k!
GBREB

New England Real Estate Journal - May Recap
GBREB

Dear BOMA Members,

 

We are heartbroken by the untimely passing of our dear friend, colleague, teacher, and mentor Larry Lenrow. Larry passed away unexpectedly on Monday, June 8th. Our thoughts are with his family.

 

Larry was an active BOMA Boston member for many decades and a true asset to our community. He was one of the most respected BOMI Course instructors for over 25 years. In 2012, he was awarded the prestigious Executive of the Year Award at the TOBY Awards, an honor well deserved.

 

Larry was a leader in the industry and a mentor to many in our membership. This is a great loss for our community here at BOMA Boston. Larry will be truly missed.

 

You may read Larry's obituary in the Boston Globe. BOMA Boston will be making a donation in his name to Plymouth Area Coalition for the Homeless and we hope you may do the same.

 

Please keep his wife Jan, daughter Rachel, and his work family at the Davis Companies in your thoughts and prayers.

 

Sincerely,

BOMA Boston

             

In Memory of Larry Lenrow
GBREB

Upcoming Events

Event
Boston CRE Panel: Diversity, Equity, and Inclusion
Online
12:00pm
 
CBA Charitable Golf Tournament
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