{"id":60,"date":"2021-01-05T16:30:00","date_gmt":"2021-01-05T16:30:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2021\/01\/05\/4-real-estate-leaders-share-their-aha-moments\/"},"modified":"2025-03-13T01:58:25","modified_gmt":"2025-03-13T01:58:25","slug":"4-real-estate-leaders-share-their-aha-moments","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2021\/01\/05\/4-real-estate-leaders-share-their-aha-moments\/","title":{"rendered":"4 Real Estate Leaders Share Their AHA Moments"},"content":{"rendered":"<p><em><span style=\"font-size: 14px; color: #445b63;\">We rounded up four of our best nuggets of information from the <a href=\"\/blog\/tag\/podcasts\" rel=\"noopener\">REAL Trending Special Edition Podcast.<\/a><\/span><\/em><\/p>\n<p><!--more--><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 14px; color: black;\"><span style=\"background-color: transparent;\">I<\/span>nterviewing brokers, top agents, team leaders and industry executives gives me a bank of information to share with you! If you haven\u2019t listened to our podcast, what are you waiting for?<\/span> <span style=\"font-size: 14px; color: black;\">Go to <a href=\"tag\/podcasts\">tag\/podcasts<\/a> or subscribe to Podbean at <a href=\"https:\/\/realtrendsinc.podbean.com\/\">https:\/\/realtrendsinc.podbean.com\/<\/a>.<\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 14px; color: black;\">Here are four takeaways from 2020\u2019s podcasts.<\/span><span style=\"font-size: 14px; color: black;\">&nbsp;<\/span><\/p>\n<ol>\n<li style=\"vertical-align: middle; margin-top: 0in; margin-right: 0in; margin-bottom: 9pt;\"><strong><span style=\"font-size: 14px; color: black;\"> COVID-19 Budgeting. <\/span><\/strong><span style=\"font-size: 14px; color: black;\">When the stay-at-home orders hit, brokers scrambled to review operating budgets and cut expenses. A big one was lease negotiations. According to <a href=\"real-trending-special-edition-hoby-hanna\/\">Hoby Hanna, president of Howard Hanna Real Estate Services<\/a> with offices in eight states, \u201cWe sent letters out to landlords\u2014the ones that we have personal relationships with because we are a personal relationship business. In most cases, we asked for relief for the next three months, and then we\u2019ll take those lease payments across the balance of the year or extended extend the lease terms by a few months on the back end.\u201d <\/span><\/li>\n<li style=\"vertical-align: middle; margin-top: 0in; margin-right: 0in; margin-bottom: 9pt;\"><strong><span style=\"font-size: 14px; color: black;\"> Expanding a Footprint. <\/span><\/strong><span style=\"font-size: 14px; color: black;\">Many brokers took advantage of the market lull to expand their market presence or start a brokerage company. <a href=\"real-trending-special-edition-adam-elias\/\">Adam Elias, owner of RE\/MAX Celebrations in East Windsor,<\/a> did just that. He already had a law firm and a title insurance agency, and he said, \u201cI was ready for another venture. I made the inquiry with RE\/MAX, they got back to me within two days, and just when we were ready to put pen to paper, the state of New Jersey announced that they were going to shut down due to the rising COVID-19 pandemic.\u201d Elias said they, \u201cput things on hold for a couple of weeks, and we wondered whether this was the right time to enter into a market!\u201d At the same time, he felt like there was a huge opportunity to forge ahead. \u201cI\u2019m a big history guy. You look back at the 2008 financial crisis or the Great Depression, these types of economic downturns usually produce opportunities in different ways. We figured this is now the opportunity to find agents who are not necessarily happy with their current situation, they may feel that they\u2019re paying too much for brokerage, they\u2019re not getting enough out of it. We saw that admission into real estate schools jumped during the pandemic, so it was a great opportunity to move forward.\u201d<\/span><\/li>\n<li style=\"vertical-align: middle; margin-top: 0in; margin-right: 0in; margin-bottom: 9pt;\"><strong><span style=\"font-size: 14px; color: black;\"> Recruitment Boomed. <\/span><\/strong><span style=\"font-size: 14px; color: black;\">As any broker knows, recruiting great agents never stops, even during a pandemic. <a href=\"real-trending-special-edition-ben-hess\/\">Ben Hess, cofounder of Co-Recruit,<\/a> offered some insight. \u201cThere is a huge influx of new, high-quality agents entering the business. Initially, COVID-19 caused a bunch of mass layoffs and furloughs, so many executives took the opportunity to start a real estate business,\u201d he says. Digital tools such as Zoom can be just as effective as in-person meetings to suss out whether a candidate should move further into the interview process. <\/span><\/li>\n<li style=\"vertical-align: middle;\"><strong><span style=\"font-size: 14px; color: black;\"> Relationships Matter. <\/span><\/strong><span style=\"font-size: 14px; color: black;\">When agents aren\u2019t coming into an office, how do you maintain the relationship? Brokers had to get creative. For Jessica Averbuch, CEO of Zeitlin Sotheby\u2019s International Realty in Tennessee,<\/span> <span style=\"font-size: 14px; color: black;\">that meant first making sure all of her <\/span><span style=\"font-size: 14px; color: black;\">employees and agents had the tools to work remotely. \u201cWe immediately went <\/span><span style=\"font-size: 14px; color: black;\">out and bought a dozen laptops and got people set up to work digitally. We also got our accounting department set up so they could deposit and cut checks from home with proper checks and balances,\u201d she said. The next thing the leadership team did was schedule daily Zoom meetings with staff and biweekly company meetings. \u201cOur participation in those calls has been somewhere between 85 to 100 people on every Zoom meeting,\u201d she says.<\/span>&nbsp;<\/li>\n<\/ol>\n<p style=\"vertical-align: middle; border: none;\"><span style=\"font-size: 14px; color: black;\">The key for success, according to most brokers interviewed, is to get close to your agents, let them know you care<br \/>\nand invest in their success. You can weather any storm with the right communication tools. <\/span><em><span style=\"font-size: 14px; color: black;\">&nbsp;<\/span><\/em><\/p>\n<p><em><span style=\"font-size: 14px;\">Tracey Velt is managing editor of REAL Trends, now owned by HW Media and HousingWire. <\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We rounded up four of our best nuggets of information from the REAL Trending Special Edition Podcast.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[19],"class_list":["post-60","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>4 Real Estate Leaders Share Their AHA Moments<\/title>\n<meta name=\"description\" content=\"4 Real Estate Leaders Share Their AHA Moments\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtrends.com\/blog\/2021\/01\/05\/4-real-estate-leaders-share-their-aha-moments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 Real Estate Leaders Share Their AHA Moments\" \/>\n<meta property=\"og:description\" content=\"4 Real Estate Leaders Share Their AHA Moments\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtrends.com\/blog\/2021\/01\/05\/4-real-estate-leaders-share-their-aha-moments\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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