Bill Lublin

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Bill Lublin CRB,CRS,GRI CEO CENTURY 21 Advantage Gold Visit me at MovePhilly & REreflections Click Here to Find Homes in PA & NJ I am constantly surprised by the publication of essays which are more self serving than informational, including this one. And this one was also inaccurate, so since I lived through the time frame referenced I thought I might clear up the inaccuracies. First of all the comment that "The business relationship between real estate brokers and their agents hasn't changed much in the past three decades" is fallacious. Nothing could be farther from the truth – well, maybe something could but it would be a real stretch. In the past 30 years the relationship of agent and broker has been modified drastically, and would be the topic for another essay involving a complex analysis which relating to changes in compensation, business models, and even the perception of the participants in the industry. But the relationship of brokers and agents has evolved substantially during that period and undergone massive change. A large part of that change results in a chasm being generated between brokers and agents as the relationship when the relationship is framed as adversarial rather than symbiotic. The second fallacy revolves around the perceived role of the broker in the real estate company. This writer asks "So if the value-added benefits of broker affiliation have been minimized through information-sharing and technology, is the broker-agent business model still valid?" To which I would respond that the basis of that model was never about technology - it was always about business risk, economy of scale, and more importantly professional synergy, broker assistance, support and supervision (the relationship is an interesting phenomenon since no agent believes they need supervision and support, and every broker believes they provide it - the truth is obviously somewhere in the middle). Our business is unusual in its perpetuation of the myth of the agent being in business for themselves. Though real estate agents are obviously paid by commission they are not actually in business for themselves, but work for a company. Generally, agents are either unwilling or unable to run the all of the risks of truly being in business for themselves, regardless of the smoke and mirrors that abound in the industry. In fact, when an agent does decide that they wish to be in business for themselves, they open an office, recruit agents, and become a new version of the person they were complaining about when they were an agent. And yes, everyone who opens a new business is determined that they will blaze a new trail, only to find that much of what was done by their former broker was done because it needed to be done in a specific manner, and not out of sheer cupidity. The next statement I have issue with is "The "brand" is the one hammer the franchise broker still yields. But, given a decade of lax requirements, no regulation and broker greed, hasn't that differentiation been diluted as well?" Branding is an important part of a brokerage firm’s value, but it has nothing to do with the soapbox the writer climbs on. Franchises, or strong regional companies that can actually lay claim to a viable brand build that brand through their marketing efforts, and the rest of the sentence is mere rhetoric - If the writer had a point to make about marketing or branding I just don't get it. As far as broker greed, let's not be disingenuous - nobody goes to work for free. Brokers should be in business to make a profit, because any business that does not have being profitable as a core requirement does not stay in business. I would submit that even the writer of this essay is in business to make a profit - does that make him greedy? Another failure in logic came in the following statement "And while the industry likes to self-promote its brands, the reality is fewer and fewer people really care about the "name" on the yard sign. This fact was confirmed recently in a "Consumer Reports" study of the real estate industry (see Inman News). The study concluded negligible differences in customer satisfaction and customer retention among a variety of brokerages." What does customer satisfaction and retention have to do with the pre-disposition people have towards a specific brand? And what in the survey indicated that brands fared differently than non-branded companies? And finally, I need to disagree with my dear friend Teresa Boardman (a scary prospect but I will be brave!) Real Estate companies do sell real estate , much as baseball teams win games. Each are comprised of the individuals who perform specific tasks, but who are part of the larger group - No single baseball player wins the World Series, but their team does as a result of their efforts.

Bill Lublin CRB,CRS,GRI CEO CENTURY 21 Advantage Gold Visit me at MovePhilly & REreflections Click Here to Find Homes in PA & NJ The issue of what comprises a "new listing" is much more complicated than it would seem at first glance, which is why a "White Paper" was developed by the NAR's Law & Policy Staff for consideration by the Intepretations and Procedures Subcommittee, Reviewed by the Professional Standards Committee, and then presented to the Executive COmmittee and the Board of Directors. The purpose of the White Paper was to give guidance to local associations in our effort as an Industry to do the right thing - somthing that REALTORS have been wokring on since the organization's inception in 1908, and the adoption of the first version of our code of ethics in 1913. As REALTORS our commitment to the Code of Ethics is second to no other profession's commitment to theirs, and an appreciation of the time and effort spent by tens of thousands of our members over the past 95 years to address the concerns of customers, clients, and collegaues should be reflected by the comments made here - I know that consumers are quick to point fingers and that people to often highlight the lowest level of performance as the norm, but to me that reflects an ignorance of what is done every day by volunteers and staff - I am proud of the mechanisms we have in place and encourage anyone to use them , consumer or professional - and challenge them, after having done so to say that we as a profession do not hold ourselves to estimable standards.

Bill Lublin CRB,CRS,GRI CEO CENTURY 21 Advantage Gold Visit me at MovePhilly & REreflections Click Here to Find Homes in PA & NJ Chris: Your statements are filled with logic and common sense. Like you I have been through hard times before and found that it became easier to get hired and easier to meet commission objections when things are tough. Now is the time that we are more needed than ever before. Thanks for reminding our colleagues of their value in the transaction.