Bill Bymel

USA Data: 10% of real estate agents changed brokerages in the last 12 months. Mike DelPrete insightful article sheds light on the significant movement within the real estate industry, with over 144,000 agents switching brokerages between June 2023 and June 2024. The data underscores the critical role of recruitment and retention strategies for brokerages, especially as lower producers show a higher tendency to switch. Highlights: - High Churn Rate: 10% of agents transitioned to new brokerages in the past year. - Non-Producers: Nearly half of agents sold zero houses in the last 12 months. - Active Agents: 14% of agents actively changed brokerages. - Top Producers: Even agents with $50 million or more in sales had a churn rate exceeding 10%. - Agent Tenure: Newer agents are more likely to switch compared to those with over 12 years of experience. - Office Size Impact: Larger offices (500+ agents) experience a 33% higher churn rate. Real Estate Brokerages need to: - Focus on Retention: Prioritize strategies to retain high-producing and newer agents. - Targeted Recruitment: Develop tailored plans for agents prone to switching. - Support Systems: Implement robust support and career development initiatives for newer agents. - Positive Culture: Cultivate a welcoming office environment to reduce turnover in larger offices. I wonder what the numbers would be in Asia. Markets like Malaysia, Thailand, Vietnam, and Philippines have huge recruitment numbers. I personally know agents who have jumped agencies more than four times within a two-year timeframe. The grass is always greener.....(well, you know where) The point is - 5% of the agents still produce more than 75% of the transactions. Agencies still promote this business as an " earn fast, success overnight" industry. However, the numbers show a different reality. I guess things will only accelerate in this industry, which has more tech, models, methods, and AI. We have more shiny objects to show potential agents. Let the hunger (recruitment) games begin!

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MLSs Will Evolve With Consumer, Broker Needs in Mind Most MLSs rapidly adopted the residential real estate practice changes ahead of the implementation deadline. But how are they continuing to evolve to meet the needs of the industry and the public in this new landscape? That question generated a lot of buzz at NAR NXT: The REALTOR® Experience in Boston earlier this month. In various forums, MLS executives, brokers and attorneys discussed the challenges of data sharing and privacy, how MLSs communicate their value, and how individual players will fare through the continuing disruption taking place in real estate. An Efficient Marketplace Although the panelists at a Nov. 9 discussion entitled “The Future of the MLS” brought a range of views, none wanted to contemplate transacting real estate in a world without MLSs. “If MLSs didn’t exist, we’d have a very fractured market,” said Art Carter, CEO of the California Regional MLS, with more than 100,000 users. “If we didn’t have [MLSs], we would invent one,” said Errol Samuelson, chief industry development officer for Zillow. He spelled out the intrinsic values of MLSs: namely, that MLSs give sellers maximum exposure for their home and a source for strategic pricing information; they give buyers equitable access to homes on the market; and they give real estate professionals and policymakers an authoritative source of timely, accurate data. Those who compare the experience of U.S. consumers to those of other countries often fail to understand the costs and barriers that exist in other places, Samuelson said. “[People] compare home sales [in the U.S.] to how they’re done in Australia, but Australia is a … subpar experience. … It’s cheaper to transact in the U.S. than in Australia, because we have a very efficient marketplace.” “I do believe in a strong MLS,” Reffkin said. “In New York City, where there is not a strong MLS, cleaning the data costs more money than in every other MLS combined. If every MLS were the same as New York, it would sink brokers.” In years past, the industry often referred to MLSs as the source for cooperation and compensation information. Referring to the rule that REALTOR® association–operated MLSs may no longer show offers of compensation for buyer’s agents, Donnellan asked the panelists whether MLSs could survive with offers of compensation removed. In answer, Carter pointed to research conducted by CRMLS. “We asked brokers what they valued most in the MLS. There was not one mention at that time of compensation being listed as key,” he said. “It was the transparent marketplace and the accuracy of the data.” “What matters is that it’s accurate and fairly presented. [For example], I can’t pay more to bump my listing to the top,“ said Lovett-Menkiti. Her agents are adapting to the practice changes—and are getting paid, she said. “Our agents work very collaboratively across different brands when they need to get information.” - nar.realtor

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The retail landscape is continuously changing, particularly in 2024, with evolving trends in dining and shopping. https://lnkd.in/d3uDXEjv #CRE #CBCWorldWide #cbcrgv

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Simon Property Group malls had a good Q2: gains in traffic, retail sales volumes, occupancy, leasing volumes. In fact the mall REIT had its highest level of real estate net operating income in any Q2 in its history. However, the retail companies it owns (JC Penney, Gilt Groupe and Sparc, which runs Forever 21, Aéropostale and others) didn't do so well: Net operating income from that portfolio plunged 76% to $6.5 million. https://lnkd.in/eqJ-VxwX

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Is Freddie Mac's bold plan to purchase single-family closed-end second (CES) mortgages from lenders a solution in search of a problem? Critics say it is. HousingWire's Bill Conroy breaks down the potential market impacts of GSEs buying CES. Some highlights: 🦍 “I don’t understand what problem Freddie Mac — and I’m almost certain Fannie Mae to follow — are solving, because the private market is already filling this space,” said Michael Bright, CEO of the Structured Finance Association. “And it’s been filling it increasingly efficiently over the last couple of years and has plans to continue to do so... So, it feels a little bit like the 800-pound gorilla inviting itself into the room and saying, ‘Oh, we want that too.’” 🏦 Bank of America estimates that if Fannie follows suit, homeowners could extract up to $1.8 trillion in equity, nearly three times what is currently being offered by private markets. 🏇 CES originations represent a small but fast-growing portion of the overall private-label securities (PLS) market, with all of the post-crisis CES-backed securities issued since 2020. The potential market, however, could be much larger over time. KBRA pointed out that at least $185 billion in second-lien loans were securitized prior to the financial crisis. 🍭 Not everyone in capital markets is sour on the proposal. Some say expanding access to home equity isn't a real concern since the blended rate of a low first-lien mortgage and a much higher second-lien mortgage is going to move that homeowner closer to a refinancing rate trigger, not further away. 🤑 “So, it will generate transaction volume in the short term [via more CES originations] and, in the future, it also likely generates more refinancing transaction activity as mortgage rates normalize,” said Peter Van Gelderen, co-head of Global Securitized at TCW. “…The housing industry is a business that produces loans where there’s no loans to be produced now, and so this [Freddie CES plan] could possibly catalyze greater origination.” Bill's story also addresses potential nonQM impacts, prepayment speeds, whether the PLS market would move toward riskier credits, and much more. Highly recommend you give it a read! 👇 https://lnkd.in/e5e3bFsA

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Fresh Records • CRE Delinquency • Week Ahead REIT Daily Recap: https://lnkd.in/epWMyyEc U.S. equity markets climbed to fresh record-highs Monday while benchmark interest rates rebounded from multi-month lows as investors parsed relatively hawkish commentary from a handful of Fed officials ahead of an important slate of economic data. Following a busy slate of inflation data this past week, the health of the U.S. consumer and the state of the housing market will be the primary focus in the week ahead. U.S. equity and bond markets will be closed on Wednesday in recognition of Juneteenth, which became a Federal holiday in 2021. On Tuesday, we'll see Retail Sales data for May, which is expected to show a mod est rebound in spending after a disappointing report in April in which retail sales posted a sequential decline for the first time since January. On Wednesday, we'll see NAHB Homebuilder Sentiment data, which is expected to show that builder optimism recovered slightly in recent weeks after a late spring dip driven by resurgent mortgage rates. On Thursday, we'll see Housing Starts and Building Permits data, which is also expected to show a modest rebound in home construction activity in May following a sharp pullback in recent months as financing conditions remain challenging. We've postulated that the Fed's rate hiking cycle may actually worsen the longer-term inflationary pressures, given the resulting pull-back in housing supply. On Friday, Existing Home Sales data is expected to show an annualized sales velocity of 4.1M in May - still hovering around three-decade lows, and considerably below the typical 5.0-5.5M range. We'll also be watching Jobless Claims data on Thursday and a handful of PMI reports throughout the week. REIT Academy & The Executive REIT Masterclass | The Daily REIT Beat Newsletter | Seeking Alpha | #REITs #Dividends #Investing #Income #Yield #RealEstate #Housing #Stocks #Bonds #HighYield #DividendInvesting #IncomeInvesting #Diversification #Inflation #realassets #investment

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The New vs. The Old: Experience the power of innovation in CRE sales with REItrades, where efficiency meets premium results. #CRE #proptech #fintech #commercialrealestate #investmentsales

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Neglecting Consistent Market Presence: A Costly Mistake for CRE Brokers 🚫 It's shocking how many CRE brokers still underestimate the power of consistent market presence. They only think about marketing when they're desperate for new business or after landing a big deal. But guess what? Sporadic efforts lead to sporadic results. In today's competitive market, being out of sight often means being out of mind. If you're only visible when it suits you, you're missing out on countless opportunities to build trust, authority, and long-term relationships. But here's the reality: Your brand is only as strong as the consistency behind it. Without regular outreach and branding efforts, you risk fading into the background, letting competitors steal the spotlight. This inconsistency can cost you deals, clients, and credibility. 💡 The Fix? Make Your Presence a Priority! Don't wait for the next big deal to market yourself. Establish a consistent presence campaign that keeps you top of mind year-round. Regularly share your insights, successes, and market knowledge. Engage with your audience, build your brand, and watch as consistent efforts turn into consistent results. It's time to stop being a part-time player and start being a full-time presence in the market. #CRE #Branding #MarketPresence #KnowingIsntDoing

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In this comprehensive episode, I join Harborside Partners on the Global Investors Podcast, where I provide an in-depth look at HUD multifamily loans, highlighting their potential to revolutionize real estate investments. I explains the loan types, application process, and eligibility requirements, offering practical advice on navigating the complexities of HUD financing. The discussion also covers the long-term benefits of these loans, including lower interest rates and longer amortization periods, making them an attractive option for investors aiming to grow their multifamily property portfolio. 💡 Tune in to discover how HUD multifamily loans can enhance your investment strategy and unlock new opportunities in the real estate market. 🔗 Watch the full episode here: https://hubs.li/Q02Jd9rj0 https://hubs.li/Q02JcQ-j0 Interested in learning more about Club Capital? Join our preferred investor club to get access to our latest investment opportunities and our education blogs and podcasts. https://hubs.li/Q02Jd1-60 #Multifamily #RealEstate #Debt

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Multifamily syndications continue to take a hit, leaving investors out of luck and out of money. In contrast, the single-family residential market continues to chug along. In fact, if you would have invested into our single-family residential fund (SIHYF II) at the beginning of the year, you'd have realized an annualized return of 9.5% YTD. And on top of that, because we are helping investors to fix properties throughout the U.S., you would also be contributing to improving those neighborhoods and providing housing for families. It's a win win! If you're curious about how you can get involved, book a call with one of our Investor Relations team members with the following link. https://lnkd.in/eTV-j4sq *Note: All investment involves risk as returns are not guaranteed. Seek advice from a financial advisor before making any investment. #investment #realestate #alternativeinvestment

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The Alchemy of Real Estate Success: Aligning GP & LP Interests Uncover the strategic advantage of real estate sponsor promotes to align general and limited partners' interests. #InvestmentStrategy #RealEstate https://bit.ly/3KQVaQH

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Moody’s CRE provides an extensive database of public and agency securitized CRE mortgages, crucial for analysis of fundamental property and market performance. Immediate access to property financial performance and loan terms on CRE assets allows users to identify and underwrite investment risks and opportunities. Moody’s CRE CMBS, Freddie Mac, and Fannie Mae data facilitates more informed decisions and enables users to effectively diversify and strengthen their CRE strategy.   Explore extensive CMBS, Fannie Mae, and Freddie Mac data on Moody’s CRE  https://lnkd.in/e6BywZ6E

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Whether you're a seasoned investor, developer, or newcomer, you’re probably trying to determine what the most profitable real estate investments are (especially in hypercompetitive markets like Miami and the rest of South Florida). As former developers and investors ourselves, MIK Architecture has you covered. This video is a comprehensive guide to the various types of real estate investments in the residential realm when looking to build and sell or build and rent. Check it out 👇 https://lnkd.in/dGKkFiqH

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