The Boston2.com Real Estate Blog

Will you be able to Compete?

Will you be able to Compete?

At this point, I am sure that you are aware of what just happened in our industry. Things changed overnight… Well kind of overnight. They changed, but the stay of execution has been held off until July. 

The lawsuit has made it so that the seller agent fee and the buyer agent fee has been decoupled. I have gotten a couple good laughs with people saying that nothing will change and to control your controllables and get back to the phone and call some a lead! 

But how can you say nothing has changed when there is a good chance that if YOU haven’t changed the way YOU do business that when your buyer finds a house that they love… You won’t be offered any compensation for your time and resources spent to acquire, nurture and work with that client. 

My question is how is an agent that works for a traditional model like at a Coldwell or Compass that has lower splits or someone that pays a monthly mortgage payment at a RE/MAX going to be able to compete with an agent that works for a lower per transaction cost and lower capping brokerage. 

Your questioning, how so… Right? 

The game has changed in a couple ways with this decoupling of the fees in the transaction. It’s now a game that is all about value and a person’s ability to demonstrate that value. It’s a game of competition at its finest. 

Capitalism has been unleashed in our industry. You will see a barrage of agents look to adjust their compensation models and do things to offer potential buying clients more value. This way that potential client chooses to work with them over another agent. Because the days of 70% of buyers working with the first agent they meet is gone. ...

What Could You Do with another $1,900 a month?

What Could You Do with another $1,900 a month?

When it comes to health insurance, I never thought the possibility of saving $1,900 a month for my family of 5 was possible. Not if I wanted any type of real coverage that is…

Let’s face it, the cost of health insurance has gotten out of control. It’s something that all of us pay for, but really only something that us independent contractors really see each and every month. 

It’s crazy to think that I paid more for healthcare than I did for the Principal and Interest on the mortgage of my house. I almost paid more for healthcare than I did for not only the Principal and Interest, but also the insurance and property taxes too! 

The $3,000 a month in insurance cost wasn’t for a no deductible plan either. We had some pretty high deductibles, but I will say that all together… It was great insurance. 

Needless to say the health insurance consultation option while onboarding when I made the switch from eXp Realty over to REAL Broker caught my eye. 

I figured… What do I have to lose! The guy’s name was Jeff… So he was obviously a good guy. 

At the end of the day, our families insurance with the REAL Broker affiliated plan went from $3,000 per month down to a thousand and change. That is a $1,900 per month savings for me and my family. 

Now the insurance is different. It’s two pieces. There is a preventative insurance piece and then a separate catastrophic piece. It’s different, but the coverage was very comparable… And we save $22,800 per year. 

If you have “normal” health...

Why I Left eXp Realty

Why I left eXp Realty

I was with eXp Realty for nearly 6 years. I think I should first mention that it is the second best real estate company out there. Without question. And the founder, Glenn Sanford was a genius in creating his vision. 

It’s difficult being the first through that brick wall and creating a new type of business model. eXp Realty did that. And they were rewarded with it being one of the fastest growing and now largest brokerages in the country. 

But here is the thing. While being first gives you advantage as first to market, it allows others to look at your business model and put together a business plan that perfects the imperfections that you couldn’t account for in the designing phase. And that is what Real Broker did. 

I was an EXTREMELY happy agent at eXp. Heck, I was on the agent advisory council. I loved the company. So what were the reasons and advantages of Real Broker that got me to leave eXp Realty? 

I am going to list them out. Mind you this is my opinion and what I saw. I implore you to do your own research and see if that is the case for you too. And if you have questions, then please feel free to reach out… Confidentially of course. 

I am a numbers and cents guy. So the financial part of it was the first thing that piqued my interests.

The first thing I saw was that the cap was less. It is $12,000 compared to the $16,000. Frankly, it’s not end of the world money and $4,000 was not enough of a reason to leave eXp. But the half cap for a team member goes from $8,000 to $6,000 per year. I felt this would be helpful in recruiting new team members to the team. 

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Massachusetts Real Estate Market Update for March 2024

YOUR Massachusetts Real Estate Market Update for March 2024

Two markets that saw double digit year over year pricing increases… And one market that saw “only” (ha) Single Digit price gains. Then there is the market that broke a 26 month year over year unit sales streak…

If you are looking to hear about the Massachusetts Real Estate Market data for Single Family Homes, Condos and Multi-Family properties… Then you are in the right place.

This market is confusing. It’s red hot. But yet there are signs that inventory is starting to grow. Interest rates aren’t going down, but yet home buyers are flooding the market. 

It’s going to be a crazy Spring market. It’s not a matter of if anymore. It’s just a matter of how crazy. Just in the last couple weeks, a house listed at $700,000 that sold for $872,000. A house listed at $800,000 that sold for well over one hundred thousand dollars over asking price. I could cite example after example. 

The big takeaway is that the FED CAN’T lower interest rates. If they do, the cost of housing will skyrocket and that will only lead to inflation. I hate to be the crazy one in the room, but the FED in my opinion needs to be increasing rates. There I said it. Don’t shoot the messenger. 

Real quick, my name is Jeff Chubb and I am a recovering Investment banker, turned real estate agent that has sold more than a 1,000 homes. If you are planning on buying or selling a home now or in the future, then it would be a pleasure to speak with you. 

Let’s start with Single Families

In February of 2024, we saw 1,805 Single Family homes sell for an average sales price of $725 thousand dollars. 

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Massachusetts Real Estate Market Update for March 11 2024

YOUR Massachusetts Real Estate Market Update for the week of March 11th

I feel like I should have gone back and dug out last year's video… Because we fell on some similar tracks as last year in many different areas. 

But there continue to be some headwinds in our economy and in our market that we need to stay focused on. Let’s get into it all…

In this video we will go over the Single-Family and condo markets in the state of Massachusetts. And we will also do a quick interest rate update… And we will also talk about some relevant current events. 

We are seeing the increase in buyer demand in the numbers. I will talk about that more in a couple moments, but in the last couple of weeks I have been talking about all the increases in buyer demand… But there wasn’t really much proof that I could show you of what I was saying. 

I don’t think you really want to see my call logs and I am confident clients wouldn’t want me showing you proof of their pre-approvals. But there is little doubt that the Spring market is upon us. 

Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more than a 1,000 homes. If you have any questions about the real estate market, then know I am here to help.

Two quickies. We Buy Houses all over Massachusetts. Cash. Fast or slow closing timelines. If you know of anyone that is looking to sell and doesn’t want to go through the hassles of the traditional way, then have them visit CashOfferMA.com. Of course that's only if you want cash for houses Massachusetts.

Speaking of the good ole traditional way… We now offer a selling program of 1% instead of the traditional 5 to 6 percent. Do you know of anyone thinking about selling their house and wanting to save 10s of thousands of dollars? Then I would love to chat. 

Let’s...

Massachusetts Real Estate Market Update for February 26 2024

YOUR Massachusetts Real Estate Market Update for the week of February 26th

Take a week off and some interesting things happen with the market data! I am not saying that buyers should be cheering by any stretch of the imagination… But inventory is moving in the right direction… If you are a buyer that is. 

In this video we will go over the Single-Family and condo markets in the state of Massachusetts. And we will also do a quick interest rate update… And we will also talk about some relevant current events. 

We are going to look at the inventory levels in a moment and how it could spell some good news for a buyer. The bad news… The market is crazy again. It’s multiple offer situation after multiple offer situation. It’s time to brush off the tricks of two years ago because that’s the difference between writing 20 offers before you securing a house and writing 5. 

My buyers found a house they liked. It was listed for $799,000. So a pretty good price range. Above average for the town. My clients went up to $850,000. They weren’t even in the conversation. 16 offers with the winning offer having a nine handle on it. 

The agent you choose to work with will ultimately make a huge difference. And make sure that you have a home buyer meeting where you go over the process… And most importantly the strategy you can utilize to drastically decrease the length of searching for a house and putting in offers on that house. 

Oh… And start the search early. If your lease is up in the next 6 months… You need to start the process now. 

Lower interest rates would spell a disaster for home buyers when it comes to pricing. 

Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more than a 1,000 homes. If you have any questions about the real estate market, then know I am here to help.

Also,...