Chris Heller
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Articles by Chris Heller
Choosing mortgage partners who deliver for your clients
Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025. In the real estate world, reputation is everything.
How Resilient Agents Embrace Change And Thrive In Uncertain Times
Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025. The real estate industry is no stranger to change.
How to adapt real estate strategies as the market shifts Original
by Chris Heller For Realtors, the ability to quickly adjust to market fluctuations, client preferences and industry regulations is essential. From shifts in interest rates to changing buyer-agent agreements, recent changes in the housing market and broader economic landscape emphasize the importance of staying flexible.
4 soft skills to focus on post-NAR settlement rule changes
September means Back to Basics here at Inman. As real estate navigates the post-settlement era with new commission rules, real estate professionals from across the country will share what’s working for them, how they’ve evolved their systems and tools, and where they’re investing personally. Searches in the US for “new real estate rules” increased by 250 percent in August due to the National Association of Realtors (NAR) settlement rule changes that went into effect on Aug.
Top-Rated Online Real Estate Schools in California
Need to get your real estate license in California? I’ve spent over 155 hours evaluating the 11 most popular courses approved by the California Department of Real Estate. I’ve checked out each and every course, and there are clear winners and losers – so be sure to read my guide thoroughly! And don’t forget to check out our guide for all the steps required to get your real estate license in California.
Opinion: How real estate brokers can overcome the profitability problem
Navigating challenges in real estate brokerage requires a deep understanding of the industry. Recently, I had a conversation in which I put on my broker hat, discussed common hurdles faced by brokerages today, and explored potential solutions. I believe that the primary hurdle confronting brokerages today lies in their profitability. Given the current trajectory, profitability remains an increasingly difficult problem to solve.
Analyzing the Trendiest Home Features
In the search for that perfect home, what are some of the make or break factors swaying prospective buyers to make the investment in a new home? Are there any factors turning them off? New data from Agent Advice examines the most demanded home features and interior design trends nationwide, gauged by searches made by prospective home buyers.
Where in the Nation Do Homes Sell the Quickest?
New research conducted by the real estate experts at Agent Advice analyzed Zillow data has revealed the U.S. states where it’s easiest to sell your home, with the Hoosier state of Indiana coming out on top. The study analyzed the average number of days it took for an offer to be accepted on a home in each state, and the average number of days it took to close a home sale.
Agents and LOs, here are 6 strategies for navigating a down real estate market Original
Facing a challenging housing market can be daunting for agents and loan officers alike. As industry professionals grapple with uncertainties, market shifts and evolving dynamics, the key to thriving lies not only in adapting to change but also in embracing it as an opportunity for growth. I’ve seen every market shift imaginable as an agent, team leader and executive in the brokerage, mortgage and proptech space.
How to master the art of listening
In the fast-paced world of real estate, success hinges on the ability to connect with clients. Recently, I dedicated some time to listening in on phone conversations between real estate agents and prospective homebuyers during their initial interactions. From this experience, one overarching and fundamental theme emerged: the importance of listening. During my time listening in, it became evident that many agents miss the mark when it comes to truly listening to their clients.
Codeword presents Volume IV: The Human Issue
As AI erupted into the mainstream these past six months, a ton of questions came with it: Are AI models ripping off artists and creators? What's fair compensation if your work is used to train them? How can we trust that a chatbot will be accurate? That it will cite its sources? That it won't spout violent and racist rhetoric? And, of course, is this thing really gonna take my job? None of these questions are just about AI as a technology. They are debated so passionately because they're about people.
Compass further reduces staff
Even with the start of a new year, Compass remains focused on cutting costs. On Thursday, the New York-based brokerage filed an 8K form with the Securities and Exchange Committee announcing its fourth round of layoffs since June 2022. This latest workforce reduction is part of the company's "ongoing cost reduction initiatives to manage the business during the current macroeconomic environment, as referenced in its third quarter earnings conference call," according to the filing.
How Much Money Do You Need Before Starting In Real Estate?
New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here. Real estate is one of the most lucrative sectors of the world economy as the need for both commercial and residential properties keeps skyrocketing by the year. Real estate is one industry you will want to dive into to diversify and grow your income.
50% of agents surveyed use buyer rep agreements
Buyer representation agreements aren't new, but many buyers' agents just don't use them. "We see more buyers in our area calling us directly as the list agent in a property," said a sales associate with an independent brokerage in Tampa, Florida. "We are allowed to double-side [transaction brokerage]. Buyers' attitudes appear to be that the list agent knows the most about the property.
Pending home sales fall 38% in November
Pending home sales fell for the sixth consecutive month in November, recording a 4.0% month-over-month drop that resulted in an index reading of 73.9, according to data released last Wednesday by the National Association of Realtors.
Home price growth slowed further in October
Annual home price growth continued to slow in October, with the year-over-year price gain shrinking for the seventh consecutive month, according to the S&P CoreLogic Case-Shiller National Home Price Index, released last Tuesday. Nationwide home prices posted a yearly gain of 9.2% in October, bringing the index to a reading of 298.99. In September, the index recorded a year-over-year increase of 10.7%. Month over month, the U.S. National Index was down 0.5%.
How to empower today's first-time homebuyers
The pandemic brought a wave of new real estate agents to the industry. In 2021, the National Association of Realtors (NAR) saw record-high membership. And in March 2022, real estate had some of its highest gains when the median existing-home price hit $375,300, up 15% over 2021, marking the longest streak of consecutive year-over-year increases, according to NAR. Many of those new agents reaped the benefits.
Stephen Capezza leaves Zillow for Side
Stephen Capezza is leaving Zillow to join white-label brokerage Side after being named president of the firm, according to an announcement on Tuesday. In the newly created role, Capezza will be tasked with driving " Side's continued growth," according to the press release. "Steve is the exact right person to help guide Side through the next phase of our growth," Guy Gal, the CEO of Side, said in a statement.
NYC's 2023 housing market resiliency
On March 8, 2020, the first death from COVID-19 was reported. By the end of May - not surprisingly - demand for New York City housing was down 78% from its pre-pandemic average. But on June 1, 2020, the unexpected occurred. Demand began to recover. And, on July 19, 2020, the impossible happened. Demand recovered. Let's look at the past NYC markets and then ponder what is to happen in 2023. As the chart above illustrates, NYC's elasticity during the pandemic was not limited to demand.
43-year real estate vet Cliff Meredith on finding success in a slow market
As a real estate broker for more than four decades, Cliff Meredith has seen his fair share of tough housing markets. Currently a broker at Meredith Fine Properties on the Eastern Shore of Maryland, Meredith was recognized in the RealTrends + Tom Ferry America's Best Real Estate Professionals in the Individuals by Sales Volume category in 2022, with a volume of $115 million.
2023 housing inventory lower than expected
Mike Simonsen, president of Altos Research, digs into the data each week to offer real estate professionals insight on the real-time market. We've turned the corner of the new year with probably the lowest inventory week for all of 2023. During the pandemic, inventory kept falling during January, February, and March as demand dramatically exceeded new supply. This year we're getting back to normal behavior, new listings start hitting the market just after the first of the year.
7 components of a top-notch real estate website
It's been a long time since Zillow, Realtor.com and Redfin replaced real estate websites as the destination for real estate listings, yet most agent, team and brokerage websites still look the same as they did way back when. Today's consumers aren't going to your website to search for listings. They want to know you're legit, so they go to your website to ensure you're in business and to learn more about you. Your website is an opportunity to build a brand and trust with prospective clients.
Glenn Sanford named as new CEO of eXp Realty
Glenn Sanford, the founder, chairman, and CEO of eXp World Holdings, is adding a new title to his name: CEO of eXp Realty, the holding company for eXp Realty, Virbela, and SUCCESS Enterprises. As CEO of eXp Realty, Sanford will "drive the next phase of growth while iterating on the agent value proposition," according to an announcement from the firm on Tuesday. "We are laser-focused on driving exponential growth and innovation across eXp Realty and the industry," Sanford said in a statement.
What commission lawsuits?
Despite the industry threat of the loss of cooperation and compensation, brokerage leaders are not all that concerned about the commission lawsuits potential outcomes, according to the RealTrends Q1 2023 BrokerPulse survey. A mere 3.45% of brokers surveyed felt like the " outcome of commission lawsuits " were a challenge or concern.
Improve your chances of finding qualified buyers
Real estate, both residential and commercial, is highly competitive. As a result, you're vying for many of the same clients as other agents in your area. To succeed in this field, you need to work proactively and efficiently. Find qualified buyers as a real estate agent As you know, real estate is either a buyer's or seller's market. Considering the past year's low inventory of properties, it wasn't hard to find motivated buyers. However, the market is slowly changing.
Anthony Marguleas on lead generation tactics for agents and teams´┐╝
Today's RealTrending features Anthony Marguleas, broker/owner of Amalfi Estates, a Side partner, in Pacific Palisades, California. Marguleas shares his success strategies from his 29 years of real estate experience. From creating inventory through a texting lead generation platform to setting door-knocking goals - in a luxury market! - Marguleas takes relationship building to the next level. Here is a small preview of today's interview with Anthony.
7 strategies to strengthen your referral network
Real estate brokers work in a challenging and dynamic industry where short-term success only sometimes translates into a life-long and consistent career. Headwinds that both rookie and veteran brokers will inevitably face include changing interest rates, changes in the economy and unpredictable government policies. Building a referral network is a keystone of every successful real estate agent's business.
4 signs a pending home sale will fall through
One minute you're on top of the world, the next you're facing uncertainty. It's an old adage that's made varied appearances in popular media from Mad Men and Daughtry songs to an unreleased scene in Matt Reeve's rendition of Batman. Aspiring and veteran real estate agents should be well aware that the same applies to the home buying and selling process: uncertainty hangs over every deal. There are many moving pieces in every real estate transaction.
Zillow Group's latest buy enables interactive listings
Zillow Group acquired VRX Media, a real estate marketing company and media services provider, to expand its suite of listing services for agents and brokers, the company announced on Thursday. The acquisition marks Zillow's 18th acquisition to date. Zillow Group will offer VRX Media's services - like aerial drone and high-definition photography, virtual staging and 3D tours - through ShowingTime+'s software suite, a brand of Zillow Group providing software and market statistics services.
the Austin housing market saga
It wasn't that long ago that Austin, Texas was considered the hottest housing market in the country. "I've never experienced anything like what we did from the middle of 2020 through March of 2022 and I wasn't alone. Realtors all over were saying the same thing," Scott Michaels, a local Compass agent, said.
How should real estate agents discuss mortgage rates?
At the beginning of the year, interest rates were at an all-time low. It was a sellers' market with buyers competing for homes that would sell for way above the asking rate. More recently, the Federal Reserve has raised interest rates to counter inflation. Although rates are still low, the increase has some buyers getting cold feet. The market has slowed considerably.
5 marketing and lead generation ideas for thrifty new agents
So you got your real estate license, you found a brokerage firm you're happy with - now what? Are you just going to wait for those calls to come in? If so, I have some bad news for you. It's not likely to happen unless you invest some time, energy and money in marketing and lead generation. Marketing involves getting the word out about your business. You can do this through social media, other online means, live events and more.
Need Clients? Here's How To Capture And Convert 6 Major Buyer Types
New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here. Real estate is all about sales. To bring in money, you must generate leads and engage contacts until they convert. The question is: How do you keep them engaged? There are various types of clients and engagement strategies are different for each.
Why brokerage reviews are important for agent retention
There is no question that online reviews are an important part of doing business today. People are likely to check internet reviews before purchasing a product or making any type of commitment to a company. Having quality reviews can make all the difference for your company. Reviews are especially crucial for a brokerage. Not only do they help clients determine whether they want to buy or sell with the company, but they also help agents decide whether they want to join and stay with the company.
Tips from a tax pro on how to cut auto insurance costs for agents
A reliable vehicle is essential for real estate agents to provide top-notch service. Whether you own or lease your ride, almost every state requires you to have some auto insurance. Plus, when you drive for business, you may also need commercial auto coverage. While the cost of these policies can add up, there are ways for agents to stay compliant and still save money on auto insurance. What does auto insurance cover?
Getting your Real Estate License in Another State: Is it Worth it?
New markets require new approaches and new tactics. Experts and industry leaders will take the stage at Inman Connect New York in January to help you navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here. Having your real estate license in one state is an accomplishment in itself, so imagine having your license in multiple states. This can be a great idea for agents that are often in multiple states, or live near the border of multiple states.
To the Office and Back
Normal agencies turn their insights into PDFs. Innovative agencies turn them into microsites. We turned our insights into a storybook fantasy epic. For the second issue of Codeword's digital zine Volume, we decided to approach the return-to-office conversation from a completely new perspective. So we traveled deep into the world of warlocks, knights, and sword-swishing adventurers. But what on Middle-Earth does high fantasy have to do with this discourse? Two things.
Interviewing Real Estate Brokers? 10 Potential Red Flags To Look For
Finding the right broker is an essential step in growing your real estate business. Chris Heller offers the warning signs to watch for when it’s a bad fit. New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here. It’s about that time of year again.
5 foolish financial fails (that could cost you everything)
New markets require new approaches and tactics. Experts and industry leaders take the stage at Inman Connect New York in January to help navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.
Never Created A Real Estate Budget? 11 Smart-Money Tips To Help
In real estate, nothing is guaranteed. Plan ahead, and build good financial habits with these essential budget tips to weather the many seasons of the real estate market, Ojo Labs’ Chris Heller writes. New markets require new approaches and new tactics. Experts and industry leaders will take the stage at Inman Connect New York in January to help you navigate the market shift — and prepare for the next one. Meet the moment and join us. Register here.
Agents, educate your customers on these nine tax benefits of homeownership
Explaining the tax benefits of being a homeowner may not be the first thing you consider when working with buyers or sellers. However, in addition to real estate continuing education, knowing how owning a home changes your financial life can significantly increase your value as a professional. Here are nine ways buying, owning and selling a home cuts taxes and improves your overall finances. 1.
What do the recent comments by the Fed mean for your market?
The real estate market is in a tizzy over the rising mortgage rates. While most experts advise homebuyers, sellers, and agents not to worry, there is still major concern. Now people are even more stressed as the Federal Reserve enacted its second consecutive .75% interest rate increase to counter rising inflation. The Fed has made several comments regarding the increase that may provide insight on the current and future market. Let's take a look at what's to come.
How to keep a positive mindset in today's real estate market
The real estate market is always full of uncertainty, but lately, there have been more significant concerns. After seeing exceptionally low interest rates at the beginning of 2022, they are now more than double. Even though rates are still historically low, they have many would-be buyers and sellers thinking the worst. And despite no conclusive evidence that a crash is imminent, rumors of a crash are circulating nonetheless. So what does this mean for agents?
Luxury real estate in recession
In the past couple of years, we have been seeing a real estate boom. Mortgage rates and inventory were astronomically low making for a seller's market. People were bidding well above market price and still getting shut out by the competition. Now, all that is changing. The world is experiencing inflation and experts are predicting that we are headed toward a recession. The Federal Reserve has responded by increasing mortgage rates.
Homebuilders pull back as demand cools
New home sales fell for the second consecutive month in July, according to data released Tuesday by the U.S. Department of Housing and Urban Development (HUD)and the U.S. Census Bureau. Sales of new single-family homes in June were at a seasonally adjusted annual rate of 511,000, down 12.6% from June and down 19.6% compared to a year ago. The sales pace is at its lowest level since 2015.
Price drops picked up in July as housing demand cooled
Nationwide, the share of homes for sale that underwent price drops reached a record high in July. More than 15% of home sellers dropped their asking price in the 97 largest U.S. metropolitan areas, according to a report from Redfin released on Monday. The pandemic homebuying hotspot of Boise, Idaho had the highest share of homes with price drops in July at 69.7%, up from 29.6% a year ago. In July 2021, Fresno, California had the highest share of price drops at 37.9%.
Brad Inman, founder of Inman News and Inman Connect
Lasting Impact: Founded a truly national, independent news organization to challenge the existing sources of news about the residential real estate industry, along with several national conferences that became go-to events for real estate professionals. Regardless of whether you agree with Brad's commentaries and opinions, his news reporting was the first to challenge the establishment of the Realtors as the voice for real estate.
House Buyers of America CEO on the buy, renovate, sell business model
Today's RealTrending podcast features Nick Ron, CEO of House Buyers of America, which buys renovates and resells homes. Ron discusses the difference between his company and an iBuyer and how important it is to have a personal touch. Here is a small preview of today's interview with Nick. The transcript below has been lightly edited for length and clarity: Nick Ron: We don't consider ourself an iBuyer.
Homebuyers are increasingly backing out of deals
Pending home sales are being canceled at a higher rate as prospective homebuyers grapple with affordability issues and use the shifting market conditions to increase their bargaining power, according to a Redfin report released on Tuesday. The analysis found that roughly 63,000 deal under contract fell through in July nationwide.
325 Top producers honored by LGBTQ+ Real Estate Alliance
The today unveiled its second-annual LGBTQ+ Real Estate Alliance Top Producers list which honors 325 individual member agents and teams, an increase of 20% over the last year's inaugural list. RealTrends created the report in concert with The Alliance as the real estate industry's only recognition of top producing LGBTQ+ and ally agents. The Alliance honorees combined for 10,028 sides in 2021 equating to $4.85 billion in volume.
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