Insight | August 2024

VOTE! NC REALTORS® Elections: Contested Races and Exciting Choices

THE VOICE OF REAL ESTATE IN NORTH CAROLINA

VOL 103 NO 3 | AUGUST 2024

7

Ways to Show Buyers Your

Value

Plus

+ Our REALTORS® Know Campaign + Bridging Generations: Gen Z and Millennials Take the Lead

Golf & Give

2024 NC REALTORS® Housing Foundation Golf Tournament September 23, 2024 Longleaf Golf & Family Club ncrealtorshf.org/golf

The NC REALTORS® Housing Foundation, a charitable foundation, invites you to join us for a golf tournament.

Proceeds from this tournament will benefit the Housing Foundation’s 100 Homes in 100 Counties initiative.

Golf Tournament:

Monday, September 23, 2024 Longleaf Golf & Family Club 10 N. Knoll Road, Southern Pines, NC 28387

Rates:

Team of Four – $600, Individual – $150

Driving Range Open:

7:30 AM

Registration Open: 8:30 AM Breakfast Buffet:

8:30 AM – 9:30 AM

Shotgun Start:

10:00 AM

Lunch:

Box Lunch pick up or drop off

Buffet Awards Ceremony:

Immediately following the tournament. Cash prizes awarded for: • 1st, 2nd and 3rd place teams • Longest Drive • Closest to the Pin

CONTACT Kentia Smith | Housing Foundation Director

TaylorMade Qi10 Max Driver This is the best driver in golf, the same one that Tiger Woods plays. It is the current model that everyone wants. This is on all the golfers want list. ksmith@ncrealtors.org

336.217.1043

August 2024 Features 12 Our REALTORS® Know

NC REALTORS® launched the “Our REALTORS® Know” campaign, to showcase REALTOR® expertise and local knowledge, address industry challenges and boost public trust.

05

14 7 Ways to Show Buyers Your Value

In the dynamic real estate market, three North Carolina brokers share tips for demonstrating value to clients.

2024

ELECTION INFORMATION

10

20 Bridging Generations: The Rise of Collaborative Real Estate Leadership Among Gen Z and Millennials Explore how young professionals are transforming the real estate industry through innovative teamwork and leadership.

14

12 4 President's Letter 5 NC REALTORS® 2024 Legislative Meetings Recap 6 LEGAL QUIZ 10 NC REALTORS® Elections: August 12-15

TALK TO US

20

Have something to talk about? Sure you do—and we want to hear it! Send us your comments, ideas or success stories to mallen@ncrealtors.org and you could be featured in the next Insight. ncrealtors.org • INSIGHT 3

Insight, Volume 103, Issue 3 President Tony Harrington, ABR®, ALHS, AHWD, C2EX, CIPS, CLHMS, CRS, GREEN, PSA

Treasurer Renee Cooney, ABR®, AHWD, C2EX, GRI, RENE, SRES®, WHS

President-Elect John McPherson, ABR®, AHWD, C2EX, CRS, e-PRO®, GREEN, GRI

Immediate Past President Leigh Brown, ABR®, AHWD, C2EX, CIPS, CLHMS, CRS, e-PRO®, SFR®, SRES®

Regional Vice Presidents Region 1: Kim Perkins, Jacksonville Region 2: Amanda Parmer, Wilmington Region 3: Laurie Linder, Fayetteville Region 4: Grace Jones, Durham Region 5: Pam Webb, Archdale Region 6: Paul McGill, Winston-Salem Region 7: Dennis Bailey, Shelby Region 8: Aric Beals, Charlotte Region 8: Josh Tucker, Mooresville Region 9: David Noyes, Arden Region 10: Tim McBrayer, Raleigh Region 10: Leslie Williams, Youngsville At Large Representative: Guy McCook, Laurinburg Chief Executive Officer Andrea Bushnell, Esq., AHWD, CIPS, RCE Vice President of Communications & Marketing Mckenzie Allen, AHWD, C2EX Creative Development Manager Joe Fallon Content Marketing Coordinator Aliyah Ross, C2EX Multimedia Coordinator/Staff Photographer Doug Klesch Contributors John Wait For advertising information, visit ncrealtors.org/advertise or contact Keri Epps-Rashad at (336) 217-1049.

INSIGHT (ISSN 24714127) (USPS 17170) is published four times a year in February, May, August and November by NC REALTORS®, 4511 Weybridge Lane, Greensboro, NC 27407. Periodicals Postage Prices paid at Greensboro, N.C. and additional mailing offices.

POSTMASTER: Send address changes to INSIGHT, 4511 Weybridge Lane, Greensboro, NC 27407-7877.

This publication is designed to provide accurate and authoritative information regarding the subject matter covered. Articles which appear in Insight are an informational service to members and consumers. Their contents are the opinions of the authors alone and do not necessarily represent those of NC REALTORS®.

Advertising of a product or service does not imply endorsement, unless specifically stated.

To opt-out of paper copy mailings, email hello@ncrealtors.org with a subject line of “Insight opt-out.”

4511 Weybridge Lane, Greensboro, NC 27407 Phone: (336) 294-1415 ncrealtors.org

Hello, NC REALTORS®!

Wow, we have been incredibly busy in 2024. The achievements we’ve managed to accomplish this year are truly remarkable. The journey hasn’t been easy; it has demanded significant effort and resilience from all of us. Yet, you all persevered with unwavering dedication.

When I took office in January, promoting the value of a REALTOR® amid the shifting real estate landscape was one of my top priorities. In June, NC REALTORS® launched the “Our REALTORS® Know” public awareness campaign to highlight the valuable expertise and local knowledge we, as REALTORS® bring to the home buying and selling process. I am extremely proud of this campaign and applaud the members and staff who worked hard to accomplish it. You can learn more about this impactful initiative in the pages of Insight (and take a look at the back cover to see one of our print advertisements!).

In this issue, you’ll also read stories about some of our remarkable Gen Z and Millennial members.

They represent the future of our industry and are making significant strides and advocating for our profession like never before.

Speaking of the future, it’s time to elect your next NC REALTORS® leaders. This issue includes information about the candidates to assist you in making informed choices during the upcoming elections on August 12-15.

I am incredibly proud of all we have achieved this year. Let’s continue to thrive, embrace new opportunities, grow our businesses, and lead the way to a brighter future.

Your 2024 NC REALTORS® President,

Tony Harrington

2024 NC REALTORS® Legislative Meetings Recap REALTORS® from across the state gathered in Raleigh June 3-5 for NC REALTORS® annual Legislative Meetings. The meetings provided attendees an opportunity to learn and network with peers, but the highlight of the week was visiting state legislators.

Proudly displaying REALTOR® branded neckties, scarves and bowties, over 500 attendees headed to the General Assembly on Wednesday June 5 to advocate for real estate industry issues. Nothing is more important to REALTORS® than helping their fellow North Carolinians achieve the dream of homeownership. That passion was visible as state lawmakers were educated on the urgency of tackling NC’s housing crisis, implementing zoning reform to allow for Accessory Dwelling Units and protecting property rights.

ncrealtors.org • INSIGHT 5

legal

QUIZ

BY JOHN WAIT, GENERAL COUNSEL

These questions are based on weekly Q&As published in the REALTOR® Rundown between January 2024 and June 2024.

1.

2.

3.

4.

5.

6.

What happens if I do not check the correct box to terminate the contract on Form 350-T (Termination of Contract)?

Can buyer agents rely on a listing agent’s representations?

Can an agent take a listing if one member of an LLC does not want to sell?

Can my buyers sue the sellers after closing for damage in the home discovered while under contract?

Can an escrow agent release an Earnest Money Deposit without the seller’s written consent?

What should I know if my firm adopts a policy allowing seller subagency?

7.

8.

9.

10.

Is the seller required to provide the Residential Property and Owners’ Association Disclosure Statement and the Mineral, Oil, and Gas Rights Disclosure forms?

Can a buyer agent make an offer contingent on the seller or listing agent agreeing to cooperative compensation in a separate agreement?

Is a seller’s failure to properly complete agreed-upon repairs a breach of contract?

When should I use the Offer to Purchase and Contract – New Construction (Form 800-T) instead of the New Construction Addendum (Form 2A3-T)?

HOW DID YOU DO? Answers are included on the next three pages.

6 INSIGHT • August 2024

legal QUIZ Answers 1.

2.

3.

F orm 2-T, the Offer to Purchase and Contract, states that the contract may be terminated by a buyer’s “delivering to Seller written notice of termination (the “Termination Notice”) during the Due Diligence Period (or any agreed-upon written extension of the Due Diligence Period), TIME BEING OF THE ESSENCE.” Form 350-T is a unilateral termination form. Unlike Form 390-T (Termination of Contract by Mutual Agreement with Release of Earnest Money Deposit), Form 350-T does not require both parties to sign to effectuate a termination. Instead, the pre-printed language in paragraph 2 of Form 350-T states that “Buyer hereby terminates the Contract for the following reason(s) . . .” This preprinted language, standing alone, is enough to satisfy the requirements for the Termination Notice. While the checkboxes providing a reason for the termination in Form 350-T are often helpful to the parties in winding up a transaction, they are not required or necessary for purposes of termination. Once the listing agent or seller receives Form 350-T, the contract is terminated, regardless of what reason was given in the checkboxes, if any.

Weekly Q&A dated 1-18-24. here are circumstances where a buyer agent is T expected to verify information. In the Commission’s 2022-2023 General Update Course on material facts, the Commission instructs that “[a] buyer agent may generally rely on the accuracy of the property information provided by the listing agent.” The Commission further states that “a buyer agent is not expected to personally verify the accuracy of information provided by the listing agent in most instances.” However, if a buyer agent reasonably suspects that the information provided by the listing agent is inaccurate, the buyer agent may not rely on it and must instead conduct their own investigation.

Moreover, if a client has identified something as being material to them, then independent verification by the buyer agent is expected. Weekly Q&A dated 1-25-24.

W hile it may be possible to take a listing in these circumstances, it is likely not advisable unless you can get all members of the LLC to sign off on it.

Generally speaking, an LLC can be bound by any one member who has authority to sign, and not all members will need to sign in order for the LLC to be obligated. The authority of a particular member to sign may come from an operating agreement,

or it may come from North Carolina law. If there is no operating agreement, and selling real estate is in the ordinary course of the LLC’s business, then the signature of any one member will likely suffice. N.C.G.S. § 57D-3-20. There is one important exception to this rule, however, and that exception applies when the LLC will be selling substantially all its assets prior to dissolution. N.C.G.S. § 57D-303(3). If the exception applies, then all members must sign for the transaction(s) to be binding.

It is possible that the disagreeing member may bring a lawsuit if a listing agreement is signed without their consent. If that lawsuit were successful, it may well block any transaction from taking place. This would put the listing agent in a position where they would have invested significant time, energy, and expense only to be told by a court that the sale cannot be completed.

4.

5.

For these reasons, even though it may not technically be necessary, it would be advisable to only take a listing if all members of the LLC agree and sign. Weekly Q&A dated 2-8-24.

There are very real obstacles for buyers to sue sellers after closing. First, Form 2-T states that “closing shall constitute acceptance of the property in its then existing condition unless provision is otherwise made in writing.” Second, a claim for fraud or negligent misrepresentation requires a buyer to reasonably rely on representations made by the seller. This may be a difficult burden for a buyer to carry if they are aware of damage prior to closing, because they can no longer claim that they reasonably relied on the false representations of the seller. Weekly Q&A dated 3-28-24.

Yes, in some circumstances. If a seller disputes the buyer’s entitlement to the EMD, even if the dispute has no basis, paragraph 1(f) of Form 2-T spells out the obligations of the escrow agent. The escrow agent must retain the money in its trust account until: (a) the agent obtains a written release from the parties; (b) disbursement is ordered by a court; or (c) the funds are deposited with the clerk of court in accordance with the provisions of N.C.G.S. §93A-12.

However, if the seller has merely gone silent and not signed a release of the EMD, the buyer agent may send an email to the listing agent stating that if the seller does not dispute the buyer’s entitlement to the EMD within 48 hours, the seller’s silence will be ncrealtors.org • INSIGHT 7

legal QUIZ Answers 6.

considered an acknowledgement that the escrow agent is authorized to disburse the entire EMD to the buyer. Though it is strongly recommended to get a signature from the seller, the seller’s consent to release of the EMD is not required. What is required is that there not be a dispute about the EMD between the buyer and the seller. Weekly Q&A 4-4-24.

Seller subagency is one solution to helping a buyer in a transaction, so long as the seller has properly authorized cooperating compensation for the seller subagent’s services and both buyer and seller have consented to seller subagency in writing. The role of a seller subagent is to help the buyer in the transaction, but not with any fiduciary duty to the buyer. Rather, the seller subagent’s fiduciary duty is to the seller, on whose behalf the seller subagent is actually working. Given the unique role of the seller subagent, it is easy for buyers to be confused about who the seller subagent represents. That is why it is critical that the prospective buyer receive a WWREA at first substantial contact along with a clear explanation of the seller subagent’s duties.

In addition to the WWREA, however, Rule .1014(e) of the License Law imposes an additional requirement that a seller subagent disclose their agency in writing so that the buyer will know who the seller subagent represents before the buyer reveals personal and confidential information. This means that, a broker may only assist a prospective buyer with locating a property by either (1) having a written buyer agent agreement or (2) a written disclosure to the buyer that the broker will be working with the buyer as a seller’s agent or subagent.

7.

You should also be aware that seller subagency creates a risk of vicarious liability. Vicarious liability is a legal theory where one party, the principal, can potentially be liable because of the actions of another party, the agent. In the context of seller subagency, this means that it is possible that a seller or listing firm could be held liable for the actions of a seller subagent. Weekly Q&A dated 4-11-24.

The RPOADS and MOG are required under North Carolina law for residential sales where the property has one to four dwelling units. Although the term “dwelling unit” is not defined in the Residential Property Disclosure Act, the North Carolina Real

8 INSIGHT • August 2024

8.

Estate Commission has supplied the following definition in the RPOADS: “‘Dwelling’ means any structure intended for human habitation.” While a seller is technically required to provide the RPOADS and MOG prior to receiving an offer, the consequence for not doing so is limited. As stated in paragraph 5(d) of Form 2-T, the consequence for not providing the disclosures is that the buyer will receive a three-day window to terminate in which the Due Diligence Fee is refundable rather than non-refundable. So long as the seller is willing to risk this outcome, the seller may refuse the disclosures. Weekly Q&A dated 5-2-24. es, but a buyer agent must be very careful to comply Y with Article 16 of the Code of Ethics and the License Law. Article 16 prohibits a buyer agent from using their client’s offer as a weapon to interfere with the agency agreement between the listing agent and the seller.

This means that a buyer, and not a buyer agent on their own accord, can condition their offer to purchase on whether an agreement for cooperative compensation can be reached with the seller or listing agent.

The Commission has written that Rule .0112 “bars a broker from using a preprinted offer or sales contract form containing any provision concerning the payment of a commission or compensation to a broker or firm.” The Commission has also said that while “a

STUDY HARD If you’re not doing so already, be sure to read the Q&As that appear in the REALTOR® Rundown every Monday. It’ll help you on the next quiz!

legal QUIZ Answers client may consider the amount of commission when considering making or accepting an offer, the broker/ firm should not be made a third party in a form purchase contract between the buyer and seller.”

9.

Together these rules mean that a buyer agent can make an offer that is contingent on cooperative compensation, so long as that contingency is at the written direction of the buyer, in the buyer’s best interest, and not part of the purchase contract at all. Agents should seek guidance from their BICs and the NC REALTORS® Legal Hotline for more details on how to comply. Weekly Q&A dated 5-23-24.

Yes. If the seller has failed to complete the agreedupon repairs in a good and workmanlike manner prior to the settlement date (including any delay in settlement requested by the seller), and the failure is material, then that failure would constitute a breach of contract that would entitle the buyer to the remedies set forth in paragraph 23 of Form 2-T. Weekly Q&A dated 5-30-24.

10.

F orm 800-T was designed for situations

when the seller, or a contractor engaged by the seller, will construct a home on the property and then convey the property to the buyer. It is a construction contract plus a contract for the sale of land in one form.

If construction is going to occur only after the buyer already owns the property, then all the buyer needs with the builder is a construction contract, which will not include the sale of the property itself.

The New Construction Addendum (Form 2A3T), on the other hand, is designed for use with Form 2-T when construction of the new home is nearly complete or has been fully completed. Although the addendum does contemplate that the seller or builder might make additional minor improvements, it lacks the detailed provisions regarding the construction process that are included in Form 800-T. However, Form 2A3-T does contain an important warranty of construction that establishes the seller’s or builder’s duty to make any necessary repairs and corrections, and therefore, even if the new home is fully complete, the addendum is a good idea to include in the purchase contract.

Weekly Q&A dated 6-6-24.

LEGAL HOTLINE NC REALTORS® have free, unlimited access to the NC REALTORS® Legal Hotline. Did you know one call to a real estate lawyer costs an average of $300 per hour? With just one call to the Legal Hotline, you’ve paid for one year of NC REALTORS® dues in full. Don’t waste your time stressing over forms, disclosure or landlord/tenant law. Call the NC REALTORS® Legal Hotline to get quick resolution, so you can return to your clients and your business.

PHONE: 336.294.1415 EMAIL: legalhotline@ncrealtors.org ncrealtors.org • INSIGHT 9

2024 ELECTION INFORMATION PRESIDENT-ELECT Elect one candidate Brenda Hayden

CLHMS, C2EX, SFR, WHCP Canopy REALTOR® Association

FIRST VICE PRESIDENT Elect one candidate Brooke Rudd-Gaglie

AHWD, GRI Brunswick County Association of REALTORS®

ISSUES MOBILIZATION COMMITTEE Elect one candidate Patrice Willetts

ABR, SRS, SRES, RENE, GRI Cape Fear Association of REALTORS®

FINANCE & BUDGET COMMITTEE – 2 Year Terms Elect three candidates Olita Boone

CIPS, ePro, PSA Johnston County Association of REALTORS®

Bob Percesepe

SRES, ePro, RSPS Brunswick County Association of REALTORS® 10 INSIGHT • August 2024

Ayesha Richardson AHWD, C2EX High Point Regional Association of REALTORS®

FINANCE & BUDGET COMMITTEE – 1 Year Term Elect one candidate Mike Carter

CIPS Greensboro Regional REALTORS® Association

AT-LARGE NAR DIRECTOR Number of Directors to be elected determined after July 31 Kim Dawson

GRI, CIPS, CRS, AHWD, C2EX Durham Regional Association of REALTORS®

Amy Hedgecock

CPM, GRI, C2EX, AHWD High Point Regional Association of REALTORS®

NAR DIRECTOR-MEDIUM ASSOCIATION Elect one candidate Christina Asbury

ALC, ABR, CRS, GRI, MRP, SFR, AHWD, C2EX, RSPS Jacksonville Board of REALTORS®

Karleta Sharisse Smith Catawba Valley Association of REALTORS®

NAR DIRECTOR-SMALL ASSOCIATION Elect one candidate Adam Upchurch AHWD, CIPS, C2EX, SPS Topsail Island Association of REALTORS®

REGIONAL VICE PRESIDENT One candidate elected in each Region-Candidates elected by members of their region only Region 3

Stephanie Walker

ABR,AHWD, C2EX, CDPE, CRS, EPRO, GRI, HFR, PSA, RSPS, SFR, SRES, SRS, Gold Standard instructor (REEA).

Outer Banks Association of REALTORS®

Melissa McKinney Longleaf Pine REALTORS®

Region 4

Grace Jones

Durham Regional Association of REALTORS®

2024 ELECTION INFORMATION Region 6

Region 4

GRI Winston-Salem Regional Association of REALTORS®

Johnston County Association of REALTORS®

Phillip Johnson

Region 8

Beverly Newell

Canopy REALTOR® Association

Region 9

Caleb Phillips

Jennifer Franklin-Rowe

Region 5

Pam Webb

High Point Regional Association of REALTORS® Region 6

Marcella Coley

Hendersonville Board of REALTORS®

High Country Association of REALTORS®

Region 10

Region 9

MSCS, SRF Raleigh Regional Association of REALTORS®

Land of the Sky Association of REALTOR®

Lawrence Terry

Randall Blankenship

Region 9

NC RPAC TRUSTEES One candidate elected in each Region-Candidates elected by members of their region only Region 1

Jonathan Moore Albemarle Area Association of REALTORS® Region 3

Michelle Morris Longleaf Pine REALTORS®

GET TO KNOW & VOTE FOR YOUR CANDIDATES!

John Muir

Highlands-Cashiers Board of REALTORS®

Region 9

Nathan West

Hendersonville Board of REALTORS®

Region 10

Tim Mock

Raleigh Regional Association of REALTORS®

New Positions for Voting This year, members will be asked to vote for the positions of First Vice President and NC RPAC Trustees.

The NC REALTORS® elections voting will take place online August 12-15, 2024.

The NCR candidates have been certified by the NC REALTORS® Certifying/ Recruiting Committee and NC RPAC Trustees by the NC RPAC Credentials Committee. Visit ncrealtors.org/elections for detailed candidate bios, voting rules and to vote. ncrealtors.org • INSIGHT 11

NCR Launches "Our REALTORS® Know" Campaign Empowering Members and Elevating Professional Value

In a timely move, NC REALTORS® has launched a brand awareness campaign to highlight the valuable expertise and local knowledge that REALTORS® bring to the home buying and selling process. Spearheaded by NC REALTORS® President Tony Harrington, this initiative addresses evolving challenges in the real estate industry, including national commission lawsuits and settlements, providing vital support to our members.

NC REALTORS®’ campaign is grounded in extensive research. We conducted market studies to understand public perceptions of REALTORS® in North Carolina and surveys of our membership. This dual approach ensured the campaign addresses both public misconceptions and members’ needs. The research revealed a clear demand for greater public awareness about the comprehensive services and expertise REALTORS® provide.

President Tony Harrington made it one of his top priorities to promote the value of a REALTOR® amid the shifting real estate landscape when he took office in January.

Recognizing the crucial role REALTORS® play, the “Our REALTORS® Know” public awareness campaign aims to bolster your professional image and emphasize your critical role in real estate transactions. This campaign intends to reinforce public trust and confidence in REALTORS®, ultimately benefiting your business by highlighting your expertise and knowledge.

Your feedback shaped this campaign. You emphasized the importance of reinforcing your role throughout the home buying and selling process. This insight drove the development of a campaign that not only promotes your services but also enhances your professional image.

Launched in mid-June, the “Our REALTORS® Know” campaign is a statewide initiative designed to highlight your specialized knowledge and local expertise.

12 INSIGHT • August 2024

Here’s how this campaign will benefit you:

Statewide Cable and Streaming Ads:

High-impact television commercials showcasing your expertise and featuring real stories from satisfied clients across North Carolina.

Billboards and Magazine Ads:

Campaign Marketing Assets for You! Scan to download social media graphics, videos and flyers.

Strategically placed visuals and compelling messages will increase your visibility and remind the public of your crucial role in real estate transactions.

Digital and Social Media Ads:

Targeted online ads will reach a broad audience, including younger, tech-savvy home buyers and sellers.

Radio Ads and Influencer Marketing:

Engaging audio messages and collaborations with local influencers will amplify the campaign’s reach, providing authentic endorsements highlighting your value.

The campaign’s tagline, “Our REALTORS® Know,” is designed to resonate with the public, reinforcing the message that your expertise and local knowledge are indispensable in real estate transactions.

A key feature of the “Our REALTORS® Know” campaign is its focus on member empowerment. NC REALTORS® created a dedicated public site, www.NCRealtorsKnow.com, and a member page filled with key messages, downloadable assets and branding tools to enhance your marketing efforts. This site serves as a resource hub, enabling you to integrate the campaign’s messaging seamlessly into your promotional activities. You can access these materials at ncrealtors.org/nc-realtors-know.

By providing these resources, we aim to support your business growth and professional development. The campaign offers you the cover and credibility you need to navigate the current industry landscape confidently.

The “Our REALTORS® Know” campaign will run through the end of the year, with continuous efforts to adapt and refine our strategies based on ongoing feedback and results. NC REALTORS® is committed to ensuring that this campaign not only raises public awareness but also enhances your professional image and supports your business.

NC REALTORS®’ investment in this public awareness campaign is a testament to our dedication to you, our members, and the industry. By highlighting your expertise and value, we are helping to secure a brighter future for REALTORS® and their clients across North Carolina.

Together, we can navigate these challenges and continue to thrive. ncrealtors.org • INSIGHT 13

7

Ways to Show Buyers Your

Value

BY LEE NELSON

Lee Nelson is a freelance journalist from Illinois. She writes for REALTOR® Magazine, several state REALTOR® Magazines and websites, and loanDepot.com.

14 INSIGHT • August 2024

In the ever-changing and complex world of real estate, brokers emphasize that showcasing your worth and skillset to clients is key to continued success.

“Showing our value to clients and potential clients in today’s challenging market is essential for building trust, standing out in a competitive landscape and ensuring successful outcomes,” states Magda Esola, vice president of sales at Brookline Homes in Concord, NC. Perfecting customer service and going above and beyond can also significantly enhance the buying experience for clients. This approach not only leads to more rewarding transactions but also helps elevate the perception of the real estate industry as a whole.

Kristine Holm, broker-in-charge and director of operations at Bold Real Estate & Governors Club Realty in Chapel Hill, NC, agrees. “At the end of the day, real estate is truly a service-based industry with a focus on sales,” she says.

“Discipline and serving your clients will always be revealed in your results.”

Jeff Lynch, partner at The Premier Team at RE/MAX Executive in Cornelius, NC, emphasizes the importance of clear communication from the outset. “REALTORS® need to do a better job of explaining the benefits of hiring a REALTOR® during the initial contact with a customer,” he says. “This is crucial because buying a home is the most expensive and likely the most important purchase of their lives.”

Additionally, he believes many people think REALTORS® only show homes, list properties and collect compensation, but navigating a sale without professional assistance can be risky. “If clients attempt to navigate a sale alone, they

Jeff Lynch

Partner at The Premier Team RE/MAX Executive Cornelius

risk being taken advantage of, suffering major financial losses or even facing lawsuits,” Lynch warns. “Real estate transactions are complex. If someone isn’t familiar with all of the terms in our contracts, it can be detrimental. It’s like trying to go to court without an attorney. You can do it, but it’s not advisable.”

To support agents in demonstrating their value, the National Association of REALTORS® provides a free download of “179 Ways Agents Who Are REALTORS® Are Worth Every Penny of Their Compensation” on the competition.realtor website. This resource covers a range of topics, from relationship building to showing properties.

Esola, Holm, and Lynch offer their top strategies for how agents can effectively showcase their value to buyers:

1 – Update Your Presentations With Brochures

“Have extensive buyer and seller brochures that outline everything you are providing for that potential client,” advises Lynch. “Communication and full disclosure are missing in our industry, and now as a result of the NAR settlements, it will be better moving forward.”

2 – Let Others Rave About You “In my experience, the best way to show your value is

through reviews from past clients,” states Holm. “Think about how many times you have vacillated on an Amazon purchase between two products, and typically what pushes you one way or the other is the product reviews. Reviews

Kristine Holm

Broker-In-Charge and Director of Operations Bold Real Estate & Governors Club Realty Chapel Hill

Magda Esola

Vice President of Sales Brookline Homes Concord

ncrealtors.org • INSIGHT 15

are such a great testament to your performance and professionalism. It is definitely a missed opportunity if you are not asking for them.”

3 – Toot Your Own Horn Real estate designations and certifications demonstrate a

broker’s comprehensive understanding of the complicated industry. “Effectively communicating the significance of our designations to clients involves explaining what they mean, how they benefit clients and showcasing our commitment to professionalism and specialized knowledge,” states Esola.

Holm adds that having a thorough biography on all your websites and social media gives you an opportunity to not only say what the acronym of your designation/certification is but also what it took to earn it and how it translates as a benefit to your future clients.

a reputable lender and a thorough inspector. “These are important steps to helping clients have the best outcome,” he says. “We have an extensive preferred partners’ list with lenders, attorneys, inspectors and every trade they may need through the process.”

6 – Start A Client Loyalty Program Lynch’s company created the Diamond Insider Client Loyalty

Program, designed to enhance new and former clients’ experiences and show appreciation.For example, they provide complimentary access to a 15-foot truck with a dolly, available to clients even if they don’t have a current property under contract with the company.

They also receive an insider newsletter and are given inviteonly access to the Diamond Insiders Facebook Group to connect with other clients and get exclusive content.

4 – Give It All You Got: 7 – Use Your Determination “The main goal of an agent is to create ‘Raving Fans,’ a great book by Ken Blanchard,” says Holm. She emphasizes that the key to success in real estate is to perform so well for your clients that they not only become your clients for life but also advocate for your business to others. “This level of operation and performance is imperative regardless of inventory or interest rates but becomes even more crucial when faced with those industry challenges.”

5 – Be A Fountain Of Information REALTORS® possess deep knowledge of market conditions,

interest rates and vendor information,” states Esola. “This expertise equips them to provide their clients with the most informed and strategic advice, guiding them through the complexities of the real estate market with confidence and precision.” Lynch’s agents help connect clients with

And Experiences To Excel

Holm got her real estate license in 2001 in New York City.

“I had grown up around the industry having a father who was a builder, and I would parlay those life exposures into experience whenever possible to sound even more seasoned,” she states. “For seasoned agents, knowing your sales statistics is crucial, but it’s equally important to weave them into conversations naturally, avoiding the impression of reciting a spreadsheet at the wrong moment.”

If you’re newer to real estate, emphasize your dedication to service and rely on your firm’s expertise when discussing your years in the field.

Effectively communicating the significance of our designations to clients involves explaining what they mean, how they benefit clients and showcasing our commitment to professionalism and specialized knowledge.

16 INSIGHT • August 2024

CONGRATULATIONS

BrendaHAYDEN on your candidacy for 2025 President-elect

Brenda's impact on the industry and community resonates across the Canopy Realtor® Association’s Board of Directors, NC REALTORS® Board of Directors, and NAR Board of Directors, where her leadership and dedication have left an indelible mark on the real estate community.

We look forward to your visionary leadership as President of NC REALTORS® in 2026. www.brendahaydenNCR2026.com

endorsed by

#iBackthePAC Thursday, October 3, 2024

ncrealtors.org • INSIGHT 17

SCAN TO REGISTER

KEYNOTE

Scott “Intake” Kartvedt FEATURING KEY MESSAGES

FEATURED SESSION TOPICS

• Expand your referral network

• Legal Briefings Be the first to know the latest legal developments, including NAR settlement impacts on your business and client relations.

• Stay ahead of the curve in a changing industry • Discover emerging trends that are reshaping real estate practices

Gregory Antipoff

WHAT YOU CAN EXPECT • Panels & Roundtables tailored to elevate your professional knowledge • Powerful Networking opportunities to connect with industry leaders and peers • Expo Hall featuring the latest tools, technology, and services in real estate

Marki Lemons Ryhal

Craig Grant

AND MANY

MORE!

18 INSIGHT • August 2024

• Navigating Real Estate with AI Explore how artificial intelligence is revolutionizing the industry from property listings to client interactions.

• Real Estate Tax Strategies Gain valuable insights on optimizing your tax benefits specific to real estate professionals.

• NCREC Regulatory Updates Stay informed with the latest guidelines and changes from the North Carolina Real Estate Commission.

PLUS Building the Mosaic: Every Piece Matters Event Join us for an enlightening afternoon exploring diversity, equity, and inclusion within the real estate industry. This event is free and can be added to your Convention registration or attended as a standalone event.

Rate Schedule

NC REALTORS® Member

Non-Member

Early Bird

April 10 – June 12

$350

$400

Regular

June 13 – October 17

$375

$425

Daily

June 13 – October 21

$225

$275

Onsite

October 18 – 20

$400

$400

Business & Committee Only

April 24 – October 22

Complimentary

Complimentary

*Registration Add-on: Friends & Family

April 10 – October 21

$225

$275

*Friends & Family Add-ons are available in addition to a paid convention registration.

Thank you annual Sposors

WE NEED YOUR

FEEDBACK Your input matters to us. Scan the QR code and complete the survey to share your thoughts on Insight Magazine.

ncrealtors.org • INSIGHT 19

Bridging Generations: The Rise of Collaborative Real Estate Leadership Among Gen Z and Millennials

BY LEE NELSON

Gabby Murillo got her real estate license in 2018 and became a top producer within the first few months. She ended up starting her own company in 2020.

“I was young and a single mom with three kids. They grew up running to showings with me,” adds Murillo, owner of Tri-River Consultants at EXP Realty in Sanford, NC. She also serves as the co-chair of the North Carolina REALTORS® Young Professionals Network (YPN) Committee.

Despite recent market challenges, Murillo remains optimistic, supported by a vibrant community of millennial

20 INSIGHT • August 2024

Gabby Murillo

Owner of Tri-River Consultants at EXP Realty, Sanford

Jonathan Moore

Associate broker at Water Street Real Estate Group, Elizabeth City

and Gen Z REALTORS® across North Carolina. “We are very collaborative,” she asserts. “In the past, I’ve encountered REALTORS® who guard their ‘secret sauce,’ but our generation believes in lifting each other up.”

According to the Pew Research Center, Millennials (born between 1981-1996) and Gen Z (born from 1997-2012) are reshaping workplace dynamics. A 2023 Deloitte survey reveals that career remains central to their identity, yet these generations prioritize work-life balance and seek innovative approaches to maintain it.

In North Carolina, young REALTORS® are leveraging their influence within brokerages, YPN organizations and REALTOR® committees to enact meaningful change. “We’re here to make a difference,” Murillo affirms, reflecting on the transformative impact of her peers.

As these younger generations take center stage, they are reshaping industry norms and championing a culture of inclusivity and mutual success.

Alyssa Harper-Hayes Broker with Pointe Realty Group, Littleton

to my age,” she shares candidly. “It was nerve-wracking, but suddenly, my real estate career took off.”

In 2022, she sold over $23 million in inventory and $18 million in 2023 even in a down market. So far, this year has been successful with nearly 40 homes sold and many more under contract.

Harper-Hayes’ achievements have not gone unnoticed.

Named to the REALTOR® Magazine 30 Under 30 Class of 2024, she has emerged as a rising star in the industry. “I am so excited to see where the year ends,” she remarks with enthusiasm.

As a member of Gen Z, Harper-Hayes embraces technology as a cornerstone of her approach. “Technology is integral in real estate—from marketing and community engagement to property management and data analysis,” she emphasizes.

But she also knows that no matter how virtual or tech savvy the world becomes, the old school ways can still hold true.

Finding her stride to excel

In 2019, at the age of 19, Alyssa Harper-Hayes embarked on her real estate journey by obtaining her license.

“My first year was tough. I sent out postcards, did giveaways and attended many community events just to be sure I could tell as many people I could that I was selling real estate – with little success.”

Harper-Hayes, now a broker with Pointe Realty Group in Littleton, NC, persevered through initial setbacks and even explored other job opportunities before circumstances unexpectedly shifted.

“Technology is integral in real estate—from marketing and community engagement to property management and data analysis,”

“At one point, I started building my first home and had secured another sales job, only to have it fall through due

ncrealtors.org • INSIGHT 21

Helping Others To Succeed

Jonathan Moore’s first scheduled closing was set for the week the world shut down in 2020 because of the pandemic.

“It was pushed off for 90 days,” adds Moore, age 30 and associate broker at Water Street Real Estate Group, Elizabeth City.

Leaving behind a career in the hog industry, where he served as a research specialist, Moore reflects candidly on the transition. “There wasn’t much glamour in that job,” he admits. “It involved tasks like power washing hog farrowing houses to meticulously clean off every speck of manure from floors and walls.”

Today, Moore utilizes his role as co-chair alongside Murillo in NC REALTORS® YPN, his involvement in his local REALTOR® association and his engagement with the local chamber of commerce to stay informed on critical topics relevant to his clients, such as street improvements, water issues, new businesses and more.

This active engagement not only keeps him aware of community developments but also equips him with the knowledge to navigate complex client needs effectively.

Moore recalls a particularly challenging situation involving a pregnant client whose maternity leave affected her income verification for a home purchase. “Some would take that at face value. I didn’t stop until they closed on the house. I talked to the regional director of the bank. That’s the kind of thing I will do,” he states.

He feels being a younger agent has helped him adapt quicker to new technologies.

“Working together is working smarter and benefits us all.”

“But sometimes being younger in real estate has a negative connotation. It can sometimes hurt you more than help,” he adds. “So, proving myself has helped me find my path and build relationships.”

Balancing It All

Murillo’s children are in travel basketball teams, which means she is gone many weekends.

“I believe these experiences reduce the likelihood of childhood diseases,” she explains. “As a single mom with a history of adverse childhood experiences (ACES), this is particularly important to me.”

Research indicates that adverse childhood experiences can lead to serious health issues in adulthood, such as stroke, respiratory problems, diabetes and cancer. As a devoted mother, Murillo prioritizes providing her children with enriching experiences. Their rental home, nestled by a serene lake, offers them daily opportunities for kayaking and fishing—a source of joy for the entire family.

“When I started in this fast-paced career, I always felt like I was playing catch-up,” Murillo reflects. She became a mother to three children by the age of 20, facing uncertain prospects without a formal education. “I couldn’t work outside the home because I couldn’t afford to put them in day care, and some of my children have special needs.”

Real estate offered Murillo a transformative opportunity. “It changed everything—financially, in terms of flexibility, and in leadership opportunities,” she acknowledges. Despite her busy schedule, Murillo prioritizes family time, managing to personally pick up her kids from school nearly every day.

Her involvement in NC REALTORS® YPN underscores her belief in collaborative success. “Working together is working smarter and benefits us all,” she notes. As a leader within her company, Murillo values understanding individual motivations.

“When I first started out, I wondered why everyone is not doing everything like me. I realized the art of being a leader is knowing yourself, and when you don’t know yourself, you get triggered,” she adds. “We are all different.”

22 INSIGHT • August 2024

REALTOR

®

PARTNERS NC REALTORS®

ncrealtors.org/Save

Providing discounts & savings at the point-of-purchase on the products and services you use most

BUSINESS SERVICES

LIFESTYLE SERVICES

TECHNOLOGY SERVICES

INSURANCE SERVICES

BRAND

STYLE GUIDE CGI Digital

Want more information about these discounts and savings?

Scan the QR code or visit ncrealtors.org/save.

CONTACT Maurice Brown | mbrown@ncrealtors.org | 336.808.4231 ncrealtors.org • INSIGHT 23

Whether you need the best price for your house, or the inside scoop on a neighborhood...

NCRealtorsKnow.com