Realogy Special Magazine

November 2015

COMMEMORATING OUR YEAR TOGETHER: Alex Perriello CEO of Realogy The Year of Real Estate Rebalancing ERA Real Estate on the Homefront Steve Frankel Christophe Choo

We proudly welcome ZipRealty™ and its innovative technology platform to our family of real estate brands!

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our communities and our industry as a whole.

We spoke of betterment and progress through leadership. After many detailed emails and thought provoking discussion, we met again a year later.

Three years ago I met up with Alex Perrillo again to discuss Realogy and The Power Is Now Magazine. Conversations of leadership arose once more as we began to merge Realogy’s and The Power Is Now’s connections. Through an agreement sealed with a handshake, Alex Perrillo agreed to sponsor The Power Is Now Magazine at the AREAA Convention in Los Angeles. This not only struck a partnership between Realogy and The Power Is Now, but also revealed the type of leader that Alex Perrillo is.

F

our years ago at one of the largest events for real estate professionals, the Five Star Conference, I got the chance to meet and sit down with Alex Perrillo, the CEO of Realogy.

Realogy Holdings Corporation is the global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group, ERA, Sotheby’s International Realty and ZipRealty. Naturally, I was ecstatic to have the opportunity to talk about the topic of leadership with someone who has truly experienced the rewarding burden himself.

He is the type of leader that strives for the best, constantly setting a better example and finding better opportunities. Alex Perrillo struck a deal with The Power Is Now over a handshake, trusting The Power Is Now to continue its high standards, expanding influence, and search for knowledge. Both ends of the bargain were kept, Alex Perrillo sponsored The Power Is Now Magazine and we only grew in quality and influence.

The Power Is Now is grateful to have sponsors as in tune with the community, the industry, and leadership skills as Realogy’s Alex Perrillo is. We are excited to continue our partnership throughout the years to enhance not only our businesses, but also the real estate industry as a whole. Thank you, Alex Perrillo, for your After meeting Alex Perrillo that day we commitment to excellence and to promoting corresponded over email, discussing what leadership. The Power Is Now looks forward to leadership truly is and how it is the cornerstone working with Realogy in the future. of the real estate industry. Leadership organizes, progresses, and fortifies our world, allowing recovery and advancement to occur.

We agreed that promoting leadership in realtors and brokers and supporting our current real estate leaders is the only way to truly better

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January 2014

January 2014 Vol. 01

the PIN magazine

In thIs IssUE: DONNEL SPIVEY Mel Watt: Why his appointment matters

SHERRY CHRIS

The

CEO’s Corner: Generation Next

mICHAEL KREIN Why

Brokers Are All Insane!

KEVIN BROWN Selling

Your Home? Know the Perils of Off-MLS Listings

andrew jones

future of higher education.

The

happy New Year!

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Generation Next

By Sherry Chris, president and CEO Better Homes and Gardens Real Estate LLC

Millennials. This one word brings with it a lot of clout. It represents an entire generation that has and continues to change the way most industries do business, and real estate is no exception.

For many, this generation is intimidating.

At nearly 80 million strong, it’s understandable. However, the key to serving this next generation consumer is to know who they are, what they want and what they expect from you. Better Homes and Gardens Real Estate has made it a priority to know the answers to these questions.

T H E MINDSET This is the generation that leases luxury c a r s and

even rents luxury clothes. Do they care about owning anything? Our findings tell us that yes, in fact they do. According to a recent national Better Homes and Garden Real Estate survey of approximately 1000 respondents ages 18-35, 75 percent of these Millennials believe that owning a home is the biggest indicator of success ranking well above taking extravagant vacations or owning expensive cars and designer clothing.

Furthermore, 40 percent of respondents are planning to invest in a home in the next 3-5 years.

We have to understand that this generation came of age in one of largest housing market downturns our country has seen, and this has impacted the Millennial perspective on the entire process. While some see the Millennials as a generation of people finding themselves in far off countries and building relationships with 140 characters or less, we see them as cautious and calculated. For 61 percent of respondents, the “readiness indicator” is when they’ve landed a secure job, which we know isn’t as easy as it used to be. Sixty-nine percent believe someone is ready to own when they can afford to buy while maintaining their lifestyle. However, they are willing to adjust their lifestyle in the process of saving by eating out less, working a second job and moving back in with their parents.

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WHAT THEY WANT

scroll quickly onto the next listing.

For Millennials, bigger does not mean better like it did for their Baby Boomer parents. In fact, they want to ensure every room in the home serves a purpose – exit the formal living and dining areas and enter media rooms and offices. They want their home to have character and be customized to meet their lifestyle needs. In that same vein of efficiencies, technology plays a major role in purchase power. When it comes to the next generation of homeowners, more than half (56%) of respondents believe home technology capabilities are more important than “curb appeal.” If a home is not up-to-date with the latest tech capabilities, 64 percent of Millennials surveyed would not consider living there. In addition, 84 percent of the younger Americans surveyed believe that technology is an absolute essential to have in their homes.

THE VOICE To bolster its research, our the Better Homes and Gardens Real Estate network of brokers sat down with a group of recent Millennial homebuyers (none of whom had business relationships with the brand) to better understand what these consumers like and dislike in regard to the home buying process. While all had varying experiences, both positive and negative, one thing was clear – they want their agent to tailor service to their needs. The ever-informed consumer is not a new term. While information is plentiful and they spend as much time as possible online before contacting an agent, they want their agent to know much more than they do as a buyer. Here are select tips generated from our research:

• Listen: Understand consumers’ wants and

needs. They don’t want their time wasted on being sent listings that go against their requests. And don’t call them if they prefer text messages. Establish expectations immediately.

• Pictures: This generation is very visual. They want to see every aspect of a house online.

Only a handful of pictures? They will likely

• Videos: Even better! Not just of the house,

•

•

•

•

but of the neighborhood, testimonials from neighbors, even personal anecdotes from the sellers. Buying a home is more than simply understanding specs, and Millenials want to know it all!

Get Personal: “My agent was my therapist” was one of the best quotes we heard from a consumer interviewed. Provide guidance and do everything you can to get answers for your client. For example, if schools are the most important aspect of a community for a client, you may want to go as far as interviewing local principals for them.

Under Pressure: They do not react well to feeling pressured to make an offer. Instead, offer them tips to get their offer recognized.

For example: Writing a personal note to the seller.

Get Creative: Understanding that Millennials look for tech amenities and functional space, here’s a tip for both buying and selling agents: Help your client envision the space.

It’s as simple as placing tent cards in rooms to showcase where an extra television could be placed, or where a formal dining room could be transformed into a home office.

Lasting Impression: Millennials share – both the good and the bad. Think about how many links and comments are shared through social media and the web. Aside from that, Millennials seek support from their peers and share more than others even during in-person interactions. If you provide exceptional service, that client will likely work hard for you in terms of referrals. If not, you cannot count on them or their friends (whether Facebook, Instagram, Twitter or otherwise) to give you a chance.

We have the opportunity to win customers for life and to win their friends for life with the most knowingly connected and social generation to ever become home buyers and sellers. Recognize them. Understand them. And work relentlessly to best the serve them.

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February 2014

February 2014 Vol. 01 | Issue 3

the PIN magazine

IN THIS ISSUE: DONNEL SPIVEY Mel Watt: Why his appointment matters

SHERRY CHRIS The

CEO’s Corner: Generation Next

mICHAEL KREIN

Why Brokers Are All Insane!

KEVIN BROWN

Selling Your Home?

Know the Perils of Off-MLS Listings

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The Good OLD DAYS … or Were They?

My real estate career began in 1977 in central Arizona. As a rookie agent, I was still learning the business and took every available opportunity to better understand the business that would later become my career and passion. That diligence included reading every real estate-related document that came across my desk. Within a few weeks of getting my license, I made my first sale and, as required in the purchase agreement, ordered a title report on the property from the local title agency. When the report came to my office I proceeded to read every page of the report, including the copy of the original grant deed that was issued back in the 1930s.

What I saw shocked me.

Printed on the original deed were specific restrictions as to who the property could not be sold to in the future. In addition to certain religious persuasions, the list also included; AfricanAmericans, Asians, Mexicans and Native Americans. I must admit that reading those restrictions gave me goose bumps, and not in a good way.

What concerned me the most was that these restrictions were written in the same century that I was living in. People who wrote those restric-

tions were most likely still alive in 1977 and more importantly, may still feel those restrictions were warranted. This was not the America that I believed in and I was quite frankly appalled by the overt racism and bigotry that existed in this country before I was born. From that day forward, when I hear people say; “Remember the Good Old Days?” as if things were better in this country back then, I think, well they may have good for some people, but certainly not those people on that deed restriction list.

Today, we look at homeownership rates in this country and wonder why the percentages belonging to certain races and ethnicities are well below the national average. Is it that these segments of the population don’t aspire to be homeowners? Or, is it the fact that homeownership was not available to them until the mid 1960s, or at best, “socially” unacceptable up until then?

You need to look no further than Germany for the answer. Yes, Germany. The homeownership rate in Germany today is 43%, the second lowest rate in the developed nations around the globe.

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Why, you may ask? Immediately following World War II most German cities were in ruins. Unemployment was high and people were forced to live in shelters or on the street. Their government, fearing another Fascist takeover, put people back to work building affordable rental housing for the masses. Since there were so few properties available for sale at the time (most of the housing stock had been damaged or destroyed) and little or no mortgage financing available, the population became accustomed to renting and that proclivity to lease rather than own remains to this day.

My point in all this is simple. If your grandparents owned their home, the likelihood is that your parents did. If your parents did, the likelihood is that you do now, or will at some point in your life. In other words, homeownership becomes a family tradition. If your grandparents were on that deed restriction list, you may have some catching up to do.

As we celebrate Black History Month and the 50th Anniversary of the signing of the Civil Rights Act in 1964, we should all give thanks to those brave men and women, of all races and creeds, who fought and in some cases gave their lives, for equal rights and Fair Housing Laws in this country. Thanks to them, the “Good Old Days” will soon belong to everyone.

Alex Perriello is president and chief executive officer of the Realogy Franchise Group, which includes the esteemed global franchise brands Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, ERA Real Estate and Sotheby’s International Realty.

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March 2014

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At CENTURY 21® System, Diversity and Inclusion Drive Our Brand Forward

by Rick Davidson, President and CEO Century 21 Real Estate LLC

The beauty of diversity is that it comes in all shapes, sizes and forms. It is a subject you’ll often hear discussed in real estate company boardrooms, and one that is promulgated by REALTOR® associations across the globe. As President and CEO of the franchisor of the world’s largest real estate franchise sales organization, I can tell you undeniably that diversity is helping drive the CENTURY 21® System forward. The diversity of our people, our products and tools, and the marketing, technology and learning programs we make available to our franchisees help support their sales, agent recruitment and office growth.

We leverage diversity with inclusion. We incorporate the different backgrounds, experiences and unique thinking patterns we bring as individuals to help build a better franchise commu-

nity. Today, we have approximately 7,100 independently owned and operated franchised broker offices in 75 countries and territories worldwide with more than 103,000 independent sales professionals.

Diversity and inclusion, together, are not only helping to take the C21® brand to new heights, but also to enhance the relationships and the outcomes between real estate consumers and C21® agents.

Consider a story about homeownership my good friend Juan Martinez shared with me that sums up the importance of not only diversity but inclusion as well. Juan is Broker/Owner of CENTURY 21 Martinez and Associates in Las Vegas and he is also the immediate past president of the National Association of Hispanic Real Estate Professionals. When we first met, Juan said to me, “You know Rick, when people come to this country with the hopes of one day being able to enjoy its freedoms

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as Americans, we don’t do so with aspirations of becoming renters. We come here because we want to work hard and earn the Dream of Homeownership. We want a place of our own that we can call ‘home.’”

Think about it… the real estate consumer personifies diversity. A consumer could be a seller or buyer; and their reasons for selling or in seeking a desired home could be as varied as the value they believe their home to be worth or the amount of home they can afford to buy.

Of course, the real estate consumer can act alone and complete a transaction. But, is the result the best outcome possible?

remarkable outcomes.

Diversity does come in all shapes, sizes and forms. For CENTURY 21® to continue to grow as the world’s number one real estate franchisor, we will continue to foster a diverse, and inclusionary, environment; one that inspires understanding, respect and collaborative relations across different cultures around the globe. It is a philosophy that we encourage our franchisees to share as well; both internally with their brokers, agents and administrative teams, as well as externally with the clients they serve on a daily basis.

Factor in inclusion, in this case a C21® agent, and will diversity with inclusion deliver a better outcome? Years of experience and anecdotal evidence tells us the answer to that question is a resounding “yes!”

With the C21® agent included as a partner in the buying or selling of the home, the complex property transaction is better understood by the real estate consumer, who should now be more organized and able to make better decisions while freeing up time to focus on living their busy lives without having to worry about showing a home, getting buyers approved for a loan, handling local ordinances and related paperwork, inspections and environmental reports, meeting with attorneys, and managing any last-minute circumstances before the closing.

While diversity can exist without inclusion, inclusion needs diversity. Together, in a real estate transaction, they foster collaboration, sharing and an end result that satisfies all parties. Diversity and inclusion feed off each other and create

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May 2014

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The Year of Real Estate Rebalancing

By Budge Huskey, President and CEO, Coldwell Banker Real Estate LLC In the investment world, “rebalancing” refers to adjusting your portfolio in reaction to trends in the business environment in order to maximize returns while minimizing risk. Those of us in the real estate industry are no different. Year three of the recovery is bringing unique market conditions allowing us to “rebalance” strategies at almost every foundational aspect of our business.

of a market seeking equilibrium; seeking balance.

But as anything approaches equilibrium, the pace naturally decelerates. This is exactly where we are today, and why the housing recovery will continue, but at an arguably slower and more sustainable rate of growth.

This concept of “rebalancing” applies to all aspects of real estate, including:

You see, during the last ten years we’ve worked in an industry completely out of balance, whether tilted in our favor during the “steroid years,” or against us during the years of the housing recession. These were times when so many in our industry felt incapable of defying the power of national market wave’s momentum, ending up simply being carried along with the rising or falling tide. Realtors worked in conditions completely out of equilibrium, evidenced by the severity of the cyclical swings.

Demand Drivers

The most recent swing has been back in our favor with an almost 40 percent rise in sales volume in the last couple of years, truly evidence of an overcorrection and a performance one would hardly call normal.

During these same years equity values rose 42 percent, signaling a close correlation which was fostered, in large part, by an aggressive Fed policy and artificially low interest rates. Between real estate and stocks, in just twenty-four months U.S. households actually reclaimed all the wealth lost in the recession and more.

• As the slack from the overcorrection is absorbed and the Federal Reserve tapers bond purchases, real estate demand now “rebalances” to the fundamentals which have always proven to be the drivers of our business. This includes the improving economy and household formation, which has rebounded from its low point of under a half a million new households formed in 2008 to above one million today. Between population growth, immigration, and a strengthening economy, one can expect to see progress in releasing the pent-up demand represented by an estimated 2.4 million “missing households” which failed to form in these last years due primarily to economic circumstances.

The pace of these last two years is a reflection

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Buyers and Sellers • Despite an almost 20 percent increase in home sales in the last two years, the actual homeownership rate in the U.S. continued to fall due to the emergence of the investor buyer class. But as prices increase and the number of distressed homes entering the market trim, the buyer mix must “rebalance” toward the traditional purchaser and especially the first-timers who currently represent a historically low percentage of the market activity.

• As home equities are restored and mortgage delinquencies decline, we will need a “rebalancing” of inventory from foreclosures and short-sales to traditional home sellers and new construction if we are to meet the level of anticipated demand and the industry’s potential for this year.

Lending • Yet another area being “rebalanced” is mortgage funding. First, as investor activity drops, the percentage of transactions involving a mortgage is rising. And with moderate increases in interest rates, a “rebalancing” of fixed vs. adjustable mortgage products occurs.

• The cost of financing in the foreseeable future will be influenced less by risk-based pricing or jumps in the

10-year treasuries, and more a function of policy makers attempting to “rebalance” the roles of government and the private sector in future housing finance.

Overall, the cost of financing will increase, though it should be met by increasing access and some relaxation of average credit standards As the real estate business continues its march towards normalcy, we must also “rebalance” our individual businesses, including our target customer base, listing inventory, and marketing strategies. Most of the obstacles we faced during these last years are gone, and going forward it all comes down to individual commitment, daily behaviors, and execution.

In 2014, the story is no longer a passive one about where the market is taking us. Rather, the story becomes deeply personal.

Going forward, it’s all about what we proactively do to either outperform or underperform the market in a rebalancing industry.

May your story have a happy ending!

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July 2014

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ON THE

HOMEFRONT

by Charlie Young The great thing about real estate is that just about everyone can relate to the concept of home. Whether you rent or own, the experience of having a home base, a strong foundation, a keystone for your life, is the same.

When I came to ERA Real Estate in 2009, it was kind of like moving into a new home.

I had to become acquainted with the wiring (What does this brand run on? What powers it?), figure out where the weight bearing beams were located (What was foundational to the brand? Where did we need to shore up support?), and peel back a few layers of wallpaper (What could use a bit of spiffing up?

How could we modernize some of the legacy aspects of our brand?).

It wasn’t long after I settled in and started working with my new family that we recognized opportunities for renovation.

Isn’t that always the case?

But instead of installing hard wood floors, refacing cabinets or putting on an addition, we set about remodeling (enhancing) the tools of our brand, holding block parties with our brokers across the country, and bumping out the brand by adding a number of new companies in key markets.

I like to say that we spent the last five years renovating the brand from the inside out to provide avenues for our brokers to grow, diversify and succeed.

Here’s what we did: Today, we have a whole new technology platform which provides all brokers with a customizable branded website that is fed with a direct IDX link, so leads from their site are delivered right to the broker. So far, this approach has increased leads 72 percent.

We have a greatly enhanced training platform with many online, self-paced courses. Our

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online programs are complemented by customized live learning sessions that we conduct in the broker’s market.

In terms of growth, we are measuring that in three ways: adding new companies, helping existing companies grow through M&As and increasing agent productivity.

The development of our ERA Powered program, an innovative business solution that allows large brokers with leading market share a way to tap into the tools and network of a global brand and continue to leverage their strong local identity, gave us the opportunity to enter new top tier markets and add market leading firms to our system.

Over the course of the last five years, we have added marketleading companies in Denver, East L.A., New Orleans, Silicon Valley, Charlotte, Atlanta, Louisville, and Manhattan Beach.

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We have worked with our existing brokers on identifying merger and acquisition opportunities to fuel growth in their markets, notably Wilkinson Real Estate & Associates ERA Powered in Charlotte, N.C., Legacy Real Estate & Associates ERA Powered in Fremont, Calif., and ERA Real Solutions in Columbus, Ohio.

And as a final proof point, sin-

ce 2010, the number of highly productive agents has increased 25 percent.

All of these changes couldn’t have taken place without the honest feedback and active involvement of our broker community, reflecting our unique broker-first approach to the business. By tapping into the diverse perspectives and experiences of our brokers, we

have collectively positioned ourselves to meet the needs and exceed the expectations of the next generation of real estate agents and their buyers and sellers.

Not only is it a foundation everyone can be proud of, it creates a culture of inclusion and engagement that fosters further success.

September 2014

THE CEO’s CORNER

BY PHILIP WHITE

The Sotheby’s International Realty® network has connected the finest independent real estate companies to the most prestigious clientele in the world for nearly four decades, providing a powerful marketing and referral program for luxury listings.

The brand was founded in 1976 by the venerable Sotheby’s auction house, an international art business established in 1744 that today is a leader in the auction world. The auction house entered into a longterm strategic alliance in 2004 with Realogy Holdings Corporation (NYSE:RLGY), a global leader in real estate franchising, to license the Sotheby’s International Realty name, acquire 15 company-owned offices and develop a full franchise system.

During the last 10 years, the Sotheby’s International Realty network has expanded worldwide, now with 14,500 sales associates based at more than 700 offices in 52 countries and territories. Earlier this year, we received approval to conduct business in mainland China.

In addition, we entered Belgium, the Canary Islands, Belize and Luxembourg. Our mission has and

will continue to be identifying the highest-quality people to represent our brand in each market. We select only the best: those who share our core values of expertise and exceptional service.

Our performance underscores the power of our brand and the luxury market. Last year, Sotheby’s International Realty affiliated brokers and agents in the United States handled total sales of nearly $60 billion and handled 24 percent more transactions than 2012 – three times greater than gains achieved by the overall market, according to the National Association of Realtors.

Our U.S. sales volume grew by 29 percent in 2013, compared with 18.1 percent for the overall market, and our affiliates reported 31 percent same-store growth.

We support Sotheby’s International Realty affiliates with a host of operational, marketing, recruiting, educational and business development resources. Listings are marketed on the sothebysrealty. com global website. This year we launched a new global referral system to help our affiliates capitalize on the strong luxury real

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estate market and make the most of the connections in our worldwide network.

Sotheby’s International Realty is one of the only real estate brands with full-time staff around the world who are devoted to serving affiliates, providing referrals and consistent service. In addition, our brokers and agents benefit from our worldwide marketing programs and association with the Sotheby’s auction house.

Among many awards received over the years, the Sotheby’s International Realty brand has been honored with Franchise Business Review magazine’s Best in Category for Real Estate Franchise Satisfaction award for seven consecutive years.

This award, which is based on the votes of our affiliates, demonstrates that we are providing them with quality service and valuable tools and resources.

For the remainder of 2014 and beyond, our top priorities are to 1) continue quality growth domestically and internationally, 2) maintain and enhance our position as the leader in the luxury segment, 3) build on our relationship with Sotheby’s auction house globally and 4) make quality the measure of everything we do.

We are committed to achieving those objectives while helping our network achieve even greater levels of success.

Philip White is President and Chief Executive Officer Sotheby’s International Realty Affiliates LLC

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November 2014

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The Power Is Now Guest Speaker

Alex Perriello Talks About Realogy and The Current Housing Market

In a special edition of The Power Is Now online radio show, host Eric Lawrence Frazier interviews Alex Perriello, President and CEO of Realogy Franchise Group about their Forward Innovation Summits held every spring, Reology’s multibrand strategy, their commitment to diversity in the real estate sector and where the housing market is today and where it is heading in the future.

The Reology franchise Group is responsible for franchising seven of the world’s most recognized brands within the real estate industry. The company franchises these leading brands to residential and commercial real estate brokerages in the U.S. and internationally. The seven brands include: • • • • • • •

Better Homes and Garden real+estate Century 21 Coldwell Banker Coldwell Banker Commercial ERA Sotheby’s International Realty Zip Realty

Mr. Periello oversees all of the brands under the Reology Franchise group and also holds the primary responsibility for the Franchise Group’s shared support services that includes domestic and international franchise sales, administration, finance, business development, information technology, learning and human resource tools and systems that are provided to its franchisees.

Perriello began his career as a sales associate and has more than 35 years working in virtually every area of the real estate business. He is a distinguished industry leader and a frequent speaker at many industry events such as AREAA, NAREP, NAREB, Inman connect, RISMedia and Real Trend’s Gathering of Eagles.

Periello was selected as the AREAA 2014 Person of the Year, an honor he is proud to accept because he strongly believes in their mission to encourage and support diversity.

Periello believes that diversity is very important for any organization. IN the real estate sector he refers to diversity as “alignment” and by that he means brokers and agents need to know the demographics of their market and their community in order to optimize every business opportunity.

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Asked by the host of the show what the phrase “The Power is Now” means to him, Periello said the most important word in the phrase is “now” and what it means to him is to be on purpose, to live in the moment and not regrett what you did yesterday or think too much about what you might do tomorrow. The power is now because you come with the focus to get things done. When you focus on the moment and put your energy into the moment great things happen.

Periello goes on to talk about leadership and the importance of surrounding yourself with very, very, very good people-solid people that you can trust because when you are in a leadership position you cannot do it all by yourself. Your role is to provide vision. You paint the picture of where the company is heading and you let your people figure out how to execute the vision. When you have the right people and provide the vision, and get out of their way, your people will buy in and execute beyond your greatest expectations or wildest dreams.

Periello talks about the Reaology Franchise Group’s acquisition strategy noting that it is a growth company and acquisitions will continue to happen on a regular basis. Concerning the group’s most recent acquisition Zip Realty, Periello explains that what this company developed over the past several years was a very impressive package at a local level that included a suite of tools for a local broker that included a world class IDX website, a CRM product that fully integrates with that website, mobile apps for the consumers and mobile apps for the agents. Periello said it was clear this was a technology suite the Reology Franchise Group needed to buy. It was a strategic to buy Zip realty because so much business comes from the web. We needed a

world-class system in place at the local level that could be customized for our brands in order for an agent to stay competitive.

The Forward Innovation Summit is the brain child of Alex Periello. An innovation fair, the reaology group invites early-stage startup companies to come and present what they are doing to the group. Presenters are selected from the application pool. Each company has five minutes to present their product, followed by 5 minutes of Q & A and then winners were picked from the audience. There is a new breed on innovator no longer focused on putting realtors out of business but providing tools to help the real estate industry do their jobs better and more efficiently.

The Current Market and the Future Commenting on the current housing market Periello said he believes we are in the third year of a long-term housing recovery. The market is heading in the right direction. Regarding 2014 sales volume will be lower perentage-wise than the previous two years. According to the forecast for 2015 the NAR predicts an increase of 11%-12% in sales volume while Fannie Mae predicts a more conservative 9% but regardless, the market is still moving in the right direction.

He goes on to say that when credit begins to ease up he expects more people to enter the housing market with the focus being on the next wave of first time home-buyers.

Closing out the interview Periello recounted the importance of focusing on the present or now moment by recalling an interaction with an old mentor who said “Alex, it’s not about what happens that matters. It is what you do about what happens that matters.” Stay focused on the moment and take action.

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March 2015

Power Agent Spotlight

The PIN Magazine Commemoration

Steve Frankel S

teve Frankel’s contribution to the real estate world is one of the greatest achievements in marketing history. Realtor with Coldwell Banker in Beverly Hills, Frankel holds the appraisable positions of Number 1 agent in Coldwell Banker Beverly Hills, North Office and Number 7 agent in Southern California. He is the ‘soul’ of real estate marketing.

days, he was once told by a dear friend, “Steve, you shine! But to be successful in business, you need to be like a laser and be focused.”

Apparently this phrase became his mantra for success in life. According to him, being focused in whatever you do will allow you to be the best you can be as that is the way he became the Number One agent in office in 2014.

A resident of the Beverly Hills area, Frankel has proved his mettle as a consummate professional with outstanding marketing talents that have benefitted both sellers and buyers. With decades of experience by his side, the entrepreneur has been termed as one of the “brightest” stars and most successful realtors in the nation.

Despite his escalating fame and celebrity status, Steve Frankel remains down to earth.

The most impressive fact about him is that if you contact him, he would himself answer the call.

Along with all the marketing and happenings in real estate business, he manages to always answer his phone irrespective to the caller name or identity. And this is what sets Steve Frankel apart - simplicity blended with class.

With a proven track of over $1 billion, Frankel continues in his relentless quest to break records with the highest prices for properties in Beverly Hills, Santa Monica, Beverly Park, Bel Air, the Hollywood Hills, Lower Canyon and the Cheviot Hills. Due to his expertise, accomplishments, dedication and unique perspective, Frankel is consistently sought out by the Wall Street Journal, the Los Angeles Times and other media outlets.

In addition to this, for nearly two decades now, from 1998 to 2014, the realtor has been voted in the elite Top 25 of all Southern California Banker agents. Within the company, he is ranked in the Top 1% of all agents throughout the company.

Steve Frankel believes that the key to be successful is not merely hard work. It means treating your agent community with great respect, always being punctual, provide the other members with benefits and favors and let them give you advantages and favors. Your success within the community largely depends on your outlook and how you create a standard level of camaraderie and mutual trust with your colleagues and in the community.

A maximum number of his past clients return to him for their further real estate transactions.

Frankel values their trust and appreciates these long term associations with his clients the most.

During the interview, he stated that in his college The Power Is Now MAGAZINE | 33

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The PIN Magazine Commemoration

Steve loves to work with Coldwell Banker.

Currently a Director at the exclusive Coldwell Banker Previews Estate Divisions in Beverly Hills, the realtor states that he values his association throughout the world with his fellow Coldwell Banker agents.

According to him, their real estate companies in New York, under the Coldwell Banker umbrella, provide him with an important link to all the ongoing events in the real estate market. This is why Coldwell Banker International in Beverly Hills is very vital to him. The company reflects his aspirations and personality. Coldwell Banker International, as a whole, has emerged as a strong and stable family. From information, assistance, listings to their pockets, this great group believes in sharing.

Steve Frankel is a proven realtor due to his top performance in the market area. However, the Number One agent said that this was actually his second choice in career. He earned his degree from the New York University. Following this, Steve worked on Wall Street. Though he enjoyed his job, it soon came to his realization that it was not the perfect fit for him. At this point in time, he decided to move out of New York City. Nearly 25 years ago, the NYU graduate relocated to Los Angeles and so his ascent into the world of real estate began.

Steve Frankel considers himself lucky to have achieved stable success in a short span of time.

A career as a real estate agent demands a wide background. Frankel graduated from the New York University, lived in New York City during his college days, worked on Wall Street and then moved to Los Angeles. All these aspects have provided him an in-depth knowledge and considerable experience competent enough to work along highly intelligent and hugely successful people in the luxury markets of Beverly Hills, Bel Air and Santa Monica. This is why he considers his second choice as a blessing and an important asset in his outstanding success.

To Steve Frankel, the phrase “the power is now� is significant of everything he is about. It relates to seizing the right moment and making certain whatever task you may do, it is profound. You hold intelligence, honor and integrity in you.

Every morning you sit and start your job with the power is now within you. To become a successful, Frankel advises that it is essential to recognize your opportunities and know what you are projecting. No matter how influential or powerful a company you may work with, we all stand alone as an individual and represent our own business. As a realtor you must understand what you work for, what you project, who you are attracting, how you could be of assistance to a client and most important, what you are best. It matters the least which is a career option.

The real deal is to master your skills and services to the best of your abilities. Others would benefit, you would be applauded and your talents would come to the forefront.

Steve Frankel, a realtor, a futurist, a successful businessman and a great person has proven himself as an exemplary figure not only to realtors but to anyone who is willing to succeed. With his expertise, great personality and powerful aura, the enthusiasm and intelligence he portrays is infectious. 3

This article also appears on our sister magazine, Orange County Realtist, at

www.ocrealtist.org

The Power Is Now MAGAZINE | 34

August 2015

Our Cover

The PIN Magazine Commemoration

CHRISTOPHE CHOO

A

Christophe Choo has been aptly dubbed “a real estate social media rock star.”

s the President broker of the Christophe Choo Real Estate Group and one of the top luxury real-estate agents of the country, he has over twenty-six years of experience, along with several impressive accolades. He also extends his service and expertise to Coldwell Banker, and has been named amongst the Top 100 at Coldwell Banker’s Previews International in 2010 and every year since.

He was also named amongst the Top 24 agents for Coldwell Banker Residential Brokerage in 2014. Christophe Choo has also extended his services to residences in prominent Westside locations, including Beverly Hills and Bel Air, and the premiere Los Angeles neighborhoods.

Moreover, he has closed more than five hundred real estate transactions over the course of his impressive real estate career! He is an incredibly talented broker with a passion driving his work and career. Having travelled across the world, Christophe has a prestigious clientele comprising of prominent foreign investors, business executives, and celebrities. He is also a television personality, frequently appearing on HGTV’s show “Selling LA”, along with several appearances in a number of other real estate related television programs.

In the twenty-six years of his real estate career, Christophe has sold practically everything from estates, to single family

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residences. He is, undoubtedly, the complete package, bringing experience, knowledge, and negotiation skills to the table.

Christophe Choo, before stepping into the world of real estate at the young age of nineteen, was a fashion model.

During his modeling days, he was fortunate enough to have travelled often enough to learn to speak French and Spanish fluently. His tri-lingual abilities are a massive advantage when it comes to buying or selling, especially because it helps him communicate with a wider range of clients hailing from different backgrounds. This is perhaps why his clients consist not only of local buyers, but also buyers from across nations. He does have clients that are royalty, but Christophe believes that even those that are not royalty should be treated like they are.

This shows the dedication to his clients, and the kind of services he and his team offer.

One of the first things that will strike you when you meet Christophe Choo for the first time is how impeccably he dresses and the elegance with which he carries himself.

www.thepowerisnow.com

The PIN Magazine Commemoration Part of this interest in fashion comes from his career as a model from when he had not yet entered the real estate business; however, once he did, his interest in fashion did not fade away. So much so, in fact, that fashion has become an integral part of his business, with every occasion calling for a different and appropriate outfit; you do not often see this in real estate agents. He believes that looking a particular way for a particular occasion has a very important role in the kind of messages one sends to people, especially when it comes to businesses like the real estate, which are largely client-based. Dressing appropriately and keeping with the occasion affects the impression that a client may form of you. It is, he believes, a representation of who you are, and as an agent you will be representing your client, which is the most important.

Christophe realizes the importance of marketing and image in the world of real estate. To him, an agent as a brand is a vital phenomenon that has become a new trend in the real estate business in the last few years. This is unlike the earlier days when the only agents who carried brand names were big corporate agencies such as Coldwell Banker. Today, he says, real estate agents are finding their footing with brand image and realizing the importance of establishing a firm image in the industry.

On that same note, consistency is an equally important element to factor in. Consistency here means not just in the terms of how you market yourself or your brand image, but consistency also in the kind of work that you do: the quality and the professionalism.

Christophe Choo has a strong online and social media presence, with over 1500 videos on his YouTube channel that deal with real estate issues and talks. The way he connects with his audience is through the videos he puts up on his channel, which allow for a more genuine and more authentic image to be sent across to those who might be watching. He is always open to trying new methods, and he realizes that although some of them might not always end up being exceptional, you have to give it a try nevertheless.

As per our tradition, we asked Christophe Choo the same question we ask all the other guests on our show, “What does the phrase, “the power is now” mean to you in terms of what you do?”

Christophe’s answer was perhaps one of the best thus far. It is, he claims, a very important aspect of how he lives his life, always living in and paying attention to the present moment – the now – instead of dwelling on the past or the future, as we are oft wont to do. This makes us lose sight of the present, so that we “don’t even see the power of the now”, says Choo. The now is all that we have, and how we spend it will have an impact; he says. Christophe Choo further illustrates this with a profound metaphor of throwing a rock into a still lake. The ripples being formed reflect the effect that our actions in the present moment could, and definitely will, have. The past is gone; the future is not here; and the only time that is, is the present, and we better make the best of it.

He is one of those people that are extremely passionate about what they do. Choo says, “I have been successful over the last two decades, because I love what I do. Finding a person’s dream home is not a job to me; it’s my passion,” he says, and this reflects in his work. It is the same passion that allows him to communicate with his clients and help them find the home that they have always dreamed of possessing – a passion that he has imbibed in his team as well. TPIN

This article also appears on our sister magazine:

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