Why Haven’t Commission Rates Changed?

Real estate commissions have stayed flat over the years, even though the legwork for agents has dramatically increased. Here’s the reason why.

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It’s spring, the market is robust, and we’re seeing a ton of activity in the market. However, today I want to talk about something a little different: commission rates.

Now, I cannot directly discuss my commission rates, but I do have some general thoughts on them. The base commission rate that most agents in the capital district hasn’t changed in the 25 years I’ve been in the business. This is absolutely ridiculous. 

25 years ago, agents had to do a lot more legwork. I had a book to pull up printed information, write contracts by hand, and send someone out with a fancy camera to take pictures. Today? Everything has changed with digital technology. I can electronically send documents to sign, use digital photographs, and do things much more efficiently.

So, what’s the real reason commissions rates haven’t changed if things are so much easier for agents? It’s because of referral companies like that who take their fees on every single referral they give. Agents have to make up the difference, and that’s why the rates have remained flat instead of dropping. I get a tremendous amount of referrals from companies which then charge me 25% to 37% of the full commission. Since they do not add value, I am paying them for their national advertising.

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These referral companies ask for 25% to 37% of our commissions.

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Want to save money on your next transaction? Give us a call and skip the middleman. We’ll provide great value for a great price and I’d be happy to discuss the specifics with you. If you have any other questions about the real estate market in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

How Does My Team Do It?

What is my team’s approach to real estate? That’s what I’m going to talk about today.

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As we head toward the winter months, the fall real estate market continues to be strong in Albany. Our inventory is limited, which is good news for sellers. Interest rates have remained very low as well, which is good news for buyers. Instead of giving you a more detailed look at the market, I wanted to answer a question I hear all the time. People want to know, “How does your team do what it does?”

My team of 13 agents may be small, but it is also mighty. We are the No. 3 ranked time in the state of New York. The biggest reason we were able to have this accomplishment is the people on our team and our culture.

There is a wealth of knowledge and then some on my team. Over a third of our team have Master’s degrees, which is practically unheard of in the real estate business. The people on our team believe in our business and believe that we will achieve more when we work together. 

I have a great story to share about how my team utilizes their wealth of knowledge to benefit our clients. We were recently working with some buyers who hit a snag during the inspection period. A radon system needed to be installed, but the contracted company wouldn’t be able to install it for three weeks. If we waited three weeks to close, this deal would fall through. 

So, our agents got on the phone. One of them ended up being on the phone until 11 p.m. the night before closing. That dedication produced results, as we got everything on track by getting a system installed that only delayed closing by 24 hours. 

This story speaks volumes to how we do what we do. We’re dedicated to our clients. Most agents would have given up when they heard that closing would be delayed three weeks. That’s what makes our team different.

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This is what sets our team apart.

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Finally, a quick announcement. Going forward, you won’t be seeing my face as much. Of course, I’ll still be bringing you two videos per month. You just won’t be seeing my old mug on our yard signs from now on. I’ve come to a realization that my face doesn’t need to be on there anymore because my team isn’t just me. I want something that will better represent us as a whole.

If you have any questions for me or anyone on my team or if you’re interested in buying or selling a home in Albany, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

Salespeople vs. Expert Consultants

Contrary to popular belief, I do not have a team of real estate salespeople. My team is made up of expert consultants. I’ll explain the difference and demonstrate how, as consultants, we work to put our clients first.

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This week, I’m excited to talk to a class at Schenectady Community College. These students are taking a salesperson class. 

If there is one thing I hate in our industry, it’s being called a salesperson. My team is made up of expert consultants, not salespeople. 

What’s the difference? 

When I think of salespeople, I am reminded of a salesperson on a used car lot. I recently went out and looked at a car. I had a great rapport with the salesperson but at the end of the ride, he said, “What’s it going to take to get you into this car today?” And I thought, Oh no, there goes the great relationship we were building. 

It’s the same with an amateur versus a professional. An amateur wants to book a deal right away, but a professional values your relationship. Professionals understand that doing right by you will always lead to long-term gain and growth. That is why I built a team of expert consultants instead of salespeople; we will always do what is in your best interest. 

In fact, we have a fiduciary responsibility by law to do what is in your best interest. We will never give you advice that we wouldn’t follow ourselves. 

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We will never give you advice that we wouldn’t follow ourselves.

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Recently, I overheard one of my agents who was on the phone with a buyer. She was talking the buyer out of a $900,000 sale. I can guarantee you that in many offices, that conversation would not happen. The buyer could afford this house, but my agent knew that the property did not meet his goals. She told him that the property would not be a good fit for him in the long run and that he would not be happy.

That is what we are about as a team. Each of our agents has a list of our core values: 

• We live and work with integrity. 
• We embody a hugging culture. 
• We choose to have positive attitudes.
• We have a solutions-focused mindset. 
• We continually learn and grow to be our best. 

Our values are really important to us. We approach each transaction with honesty and integrity; we put our clients first. 

I am looking forward to this class at Schenectady Community College because I really want to express the importance and the impact that you have when you move from an amateur to a professional. As agents, we have the ability to impact lives.

Remember, my team will never give you advice that is not in your best interests. If you have any questions for us about buying or selling a home, give us a call or send us an email. My team and I would be happy to help you.

The Easiest $1,000 You'll Ever Make

Want to make an easy $1,000? We're looking for an agent to help us with all the leads we have. As soon as your referral sells their first house, I'll send you $1,000.

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How would you like to make the easiest $1,000 you've ever made?

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It's the easiest $1,000 you'll ever make.

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My team is growing and we're seeing a huge number of buyer and seller leads coming in. We're looking for a full-time real estate professional.

I started my career when I was 18 and it's been a fantastic career for me. It's a great way to meet people and make a difference in their lives. I'm looking for someone who has a passion for real estate, likes people, and really wants a full-time career.

The potential for first-year earnings of $70,000 to $100,000 is there if you work within our system.

So if you know someone, please refer them to me! As soon as they sell their first house, I will send you a check for $1,000. All you have to do is tell a friend about me.

If you have any questions about my team and what makes us different from all the other agencies out there, give me a call. I look forward to hearing from you, and I look forward to your referrals!

Is Price More Important than the Terms in an Offer?

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Today, I want to talk about something we always talk about, whether you're a buyer or seller. For some reason, people always focus on the price. That drives me wild sometimes because price is not the only factor to consider in the home buying transaction. When negotiating, we always encourage you to look at price and terms. Sometimes, the terms are more important than the price. You have to look at the big picture.

Here's an example for buyers. I've seen buyers negotiate for three days, and then they got the deal they wanted. They got 1,000 bucks less than what they expected to. That's great! But then, they go to the same bank they've always done business with to handle the financing. They don't shop around, and wind up paying a quarter point more on a 30-year mortgage.

Guess what? If you do that, you've just blown that 1,000 bucks you spent three days negotiating for, and then some! That quarter point will cost you way more money than $1,000 over the next 30 years.

As for sellers, we see you guys holding out for top dollar all the time. Then, we take a look at the seller's situation, and it turns out they're moving into a new construction home. The reality is, they have to move into temporary housing before their new home is ready. So sure, you get the bragging rights of getting top dollar, but you have to move twice.

In the long run, the inconvenience and cost of temporary housing probably cost more than getting that top dollar. It might have made more sense to take a lower offer with a closing period that allowed them to move directly into the new construction property.

Ultimately, my thought for the day is this: Don't focus solely on price. Think about your carrying costs or mortgage costs. As your real estate agent, we will help you consider the offer from every angle in order to save you money in the long run.


If you have any questions, give me a call or send me an email. I would be happy to help you!

What You Need to Know Before Hiring an Agent

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Today, I want to talk about how to hire a real estate agent. The real estate industry is flooded with people who had previous jobs in other industries, meaning there are a lot of inexperienced agents out there. In the last few weeks, many clients have come to me because they had a bad experience with another agent. So, it's very important to make sure you hire the right person whether you are buying or selling.

Don't just hire someone you meet at an open house. You can certainly do research online, but make sure you also meet with Realtors face-to-face and interview them. Ask how many homes they have sold, if they're full time or part time, and how accessible they are. Whether you're buying or selling, it's important to know how experienced the agent is and how available they can be.

More importantly, work with a knowledgeable agent you like. You will probably be working with this person for a couple of months, so it's crucial that you work with someone you get along with.

If you have any questions, give me a call or send me an email. I look forward to hearing from you!

How You Can Diversify to Protect Yourself from a Volatile Stock Market?

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Today, I want to briefly discuss how important it is to diversify. The volatile stock market is making it more risky to keep all of your assets invested in it, and now is a fantastic time to make a safe investment in real estate.

Right now, if you want to be an owner-occupant of a multi-family home, you can buy one with as little as 3.5% down. This means you can buy a $200,000 property with only $7,000! If you're an investor who does not plan to live in the building, you can buy a building with only $40,000 down!

Instead of purchasing a fancy car, which is only going to rapidly lose value, I highly recommend investing in real estate. A home is only going to appreciate in value and you will be able to pay off your expenses with the revenue you get from renters.

If you've ever thought about diversifying your portfolio or buying your first home, buying a multi-unit may be a great option for you. There are a lot of young people out there buying homes with only 3.5% down, living in them for a few years, and moving away to bigger and better things - while making a profit in the process!

If you have any questions about real estate investing, don't hesitate to reach out to me. I would love to give you a hand!

Why Are We Seeing a Lull in Our Market?

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It's August, it's hot, and many people in the area are on vacation. We are in the midst of the summer doldrums; every single August since I can remember we see a slowdown in activity.

Come Labor Day, however, we are going to see a dramatic uptick in activity as we usually do. Keep in mind too that mortgage rate increases may be coming. Hopefully, buyers realize the risk of rates increasing and take action now rather than later.

A 1% increase in interest rates, which could happen in the next year, will impact buyer's purchasing power by 10%. It puts downward pressure on values, and affects the amount of home you can afford.

If you're a buyer, you definitely want to get moving before rates do. As for sellers, get your home on the market now before rates have the time to go up. If you have any questions for us, we would love to hear from you. Just give us a call or send us an email.

When Should You Sell Your Home in Albany?

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I've had many people asking me lately about the perfect time to sell a home. There are a lot of conflicting ideas about the best time to sell, and you'll probably get a different answer from every Realtor that you ask. 

I trust statistics, so I went back several years and did some research, and I found that the fall market is a better time to sell a home than the spring market. Trying to time the market is impossible. However, September and October do appear to be the best times to sell your home in general. 

A lot of people think the summer market is the best, but we just don't see a lot of activity around here in the summer because people leave town. July and August seem to slow down, as well as the holiday season from December to January. 

With all of this being said, there are many different factors that determine a good time to sell your home, and I would love to discuss them with you. Please don't hesitate to reach out to me if you would like to discuss real estate in Albany!

What Does It Take to Be Successful?

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Hey everyone, thanks for joining me today. I want to answer a question that I've been getting a lot lately. Our team has been lucky to be very successful in the real estate world, and people are wondering what makes us successful. Today I want to tell you a little bit about me and why I have succeeded in real estate. 

Only a few short years ago, I was unemployed and struggling to support my family. I sat down and wrote down what I wanted in life and what I was willing to give up for it. Since then, I have surrounded myself with and tried to learn from the best, and my goal is to always strive to be better. 

It's easy to stay even with the pack and enjoy mild success. It's very difficult to struggle, to fail, and get back up again. When you are used to winning in life, you're going to get complacent when you realize there is always someone out there working harder than you. 

I ran cross country in high school, but didn't have a lot of natural ability. Every day after school, I would run a grueling 1.5 miles up a steep hill. There is nothing harder to do, but the dedication made me a better runner and allowed me to compete at a higher level. I kept working at it, and didn't let my failures indicate my future performance. 

Succeeding in anything comes down to hard work and sacrifice. It's not easy to succeed in life, but you can as long as you learn from your failures, and persevere through them. It's always darkest before the dawn. 

If you have any questions for us, or if we can help you in any way, give me a call or send me an email. If you're struggling, I'd be glad to give you some advice on how you can turn things around. I look forward to speaking with you soon!