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 Zip Realty invasion

Created by:
Ronda Densford, Licensed Real Estate Agent,  Atlantic Beach,  FL

Date: October 4, 2007, Number of Replies: 10


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Zip Realty is coming into our market like gang busters! Their ad sounds like a virtual "wish list" that a REALTOR would make for a job.  Anyone know what their program is all about?  Any experience with them??

Ronda Densford, REALTOR
Platinum Realty Enterprises, LLC
Jacksonville Florida Market 

rondadensford.com

 

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Catherine Myers Licensed Real Estate Broker,  Pleasant Hill,  CA

Date: October 5, 2007

I just got 4 in a row recruiting letters, here you can read for yourself their article they felt would be helpful to me :)  I received it 4 times in the span of 5 minutes.  Here's what I got, you can call their sr. staffing manager :)
 
 

_________________________from zip realty below____________________________________
The way you set goals strongly affects their effectiveness. Whether they are professional or personal, set your goals too high and you are likely to find yourself frustrated with your progress, or lack thereof. Set them too low and they don't seem worth doing. In this article you will learn some general guidelines to keep in mind when deciding on your goals, as well as some specific pointers for setting specific goals that can actually be measured and achieved.
Click here to read this article:
http://www.recrs.com/beta/admin/letter.aspx?p=288452&c=20&e=5017
Thomas Smyth
Sr. Staffing Manager Nor CA
Office: 925-956-1986
Cell: 925-457-6871
Fax: 866-317-6757
tsmyth@ziprealty.com
_____________________  end message from zip realty_____________________________________
 

Catherine Myers, REALTOR
GRI, CRS, e-PRO, ABR, SRES, QSC
Alain Pinel Realtors
Walnut Creek, California 94596
Website: http://www.DiabloValley.net
Direct: 925-627-3027

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Date: October 5, 2007

Zip Realty is coming into our market like gang busters! Their ad sounds like a virtual "wish list" that a REALTOR would make for a job. Anyone know what their program is all about? Any experience with them?? Ronda Densford, REALTOR ~~~~~~~~~~~~~~~~~~~~~~~~~~ ZIP Realty is very popular in Atlanta, GA. They have been mentioned in Clark Howard's book on Real Estate. Clark Howard is a "save your cash" syndicated reporter from WSBTV.com From what I understand, ZIP pays for everything that new agents struggle with paying for up front . . signs, cards, flyers ie, anything a new agent needs to get off the ground. They give you a percentage of the commission which is not unlike many "teams" do for new agents as well. They also (from what I hear) have a fabulous lead program (too many to work in some cases) and very user friendly contacts/tracking software online for the agents to use. Hope this helps. Suzette Daniels Lakeside Realty LLC Cumming, GA mailto:suzettedaniels@bellsouth.net
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Steele Propp Licensed Real Estate Agent,  Bloomington,  MN

Date: October 6, 2007

Zip Realty is coming into our market like gang busters!
 
So did Foxton :>)
 
Hope they have plenty of reserves.
 
Steele

Steele V. Propp
Foreclosure Specialist/ Loss Mitigation Consultant
Bank Owned Property Division
Schatz Group GMAC Real Estate
1009 Mainstreet
Minneapolis, MN  55343
(612) 325-6764   Direct Line
(952) 938-3831  Fax
steelep@aol.com

Twin City Bank Owned Home Information and More
http://www.MinnesotaForeclosureNetwork.com

Foreclosure and Short Sale Training. Start with Free Video Training.
http://www.automateyourwebsite.com/app/?af=380101



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Catherine Myers Licensed Real Estate Broker,  Pleasant Hill,  CA

Date: October 6, 2007

Suzette Daniels said: ZIP pays for everything that new agents struggle with paying for up front . . signs, cards, flyers ie, anything a new agent needs to get off the ground. They give you a percentage of the commission which is not unlike many "teams" do for new agents as well. They also (from what I hear) have a fabulous lead program (too many to work in some cases) and very user friendly contacts/tracking software online for the agents >>>
 
But Suzette, you are an employee at ZIP.  You have no control over your own business.  I don't know about anyone else, but I got into real estate because I want my OWN business.   And many do use ZIP as a stepping stone, or an entry point.  But the way I see it, it is all for nothing... well almost.  Of course you get experience, working with people, writing contracts, following up on leads - BUT you get to keep none of that when you go.  So when you 'grow out of' Zip , that client book you grew, those client relationships you developed, those relationships started, are not yours to take.  So it will be much like starting over again when you leave.  I have two acquaintances at Zip, and it appears now they will be lifers (for lack of a better word) at Zip.  They are now content at making less than they would in the "open market" , they like the benefits, and they like not having to work for their own leads. I think Zip may work well for those that like the 9-5 type of real estate business. For me, I'd rather work hard, develop my own leads, my own book of clients and relationships and have flexibility of how I run my business.  Then I can go anywhere I want with MY systems, MY clients and MY business in tact.
 

Catherine Myers, REALTOR
GRI, CRS, e-PRO, ABR, SRES, QSC
Alain Pinel Realtors
Walnut Creek, California 94596
Website: http://www.DiabloValley.net
Direct: 925-627-3027

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Jeff Clancy Licensed Real Estate Agent,  Gig harbor,  WA

Date: October 6, 2007

Zip Realty is coming into our market like gang busters! Their ad sounds like a virtual "wish list"

Sometimes the grass looks greener till you get up close and realize it's fake. (that's why it's so Green) I just went back to Keller Williams Realty and I'm so glad to be back. I worked for a new smaller company that charged $89.00 per mo and $300.00 for the first two deals. They had all these other great benefits included that hit my trigger. Free copies, use any of 11 offices, day desk etc. I do over 35 transactions each year so it seemed like a good savings? The broker had no support and gave the same, the pay plan changed twice and is changing again, Clients have no support, Exposure to the market is zero from hat company, Agents were mostly nooby's and had no ethics, cut throat environment, bad reputation with agents from other shops, and no company communication or direction. All this to save a few grand a year? I think the industry models are changing but virtual offices and virtual brokers offer no value added services which is why we make what we do. My opinion is be careful who you Yoke with...

Jeff Clancy, Realtor, E-Pro, ASR, SRS
253-720-7588
Jeff@JeffClancy.com
Gig Harbor, Washington

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Steele Propp Licensed Real Estate Agent,  Bloomington,  MN

Date: October 7, 2007

But Suzette, you are an employee at ZIP.  You have no control over your own business.  I don't know about anyone else, but I got into real estate because I want my OWN business.   And many do use ZIP as a stepping stone, or an entry point.  But the way I see it, it is all for nothing... well almost.  Of course you get experience, working with people, writing contracts, following up on leads - BUT you get to keep none of that when you go.  So when you 'grow out of' Zip , that client book you grew, those client relationships you developed, those relationships started, are not yours to take.  So it will be much like starting over again when you leave.  I have two acquaintances at Zip, and it appears now they will be lifers (for lack of a better word) at Zip.  They are now content at making less than they would in the "open market" , they like the benefits, and they like not having to work for their own leads. I think Zip may work well for those that like the 9-5 type of real estate business. For me, I'd rather work hard, develop my own leads, my own book of clients and relationships and have flexibility of how I run my business.  Then I can go anywhere I want with MY systems, MY clients and MY business in tact.
 
Not always true. In fact, only true if one has an arrangement with the brokerage.  Many independent contracts have the listings (and buyer clients for that matter) as "owned" by the brokerage.
 
Now many brokerages will let you leave with your client book and listings today.  But they don't necessarily have to, so it is very important to have a clear understanding in writing as to what happens if you resign from a firm. 
 
Don't just presume you take things with you.  Read the fine print.  The courts have continuously upheld the concept of the brokerage and it's ownership of business created during it's contract timeframe.
 
Other than that clarification, good points.
 
Steele

Steele V. Propp
Foreclosure Specialist/ Loss Mitigation Consultant
Bank Owned Property Division
Schatz Group GMAC Real Estate
1009 Mainstreet
Minneapolis, MN  55343
(612) 325-6764   Direct Line
(952) 938-3831  Fax
steelep@aol.com

Twin City Bank Owned Home Information and More
http://www.MinnesotaForeclosureNetwork.com

Foreclosure and Short Sale Training. Start with Free Video Training.
http://www.automateyourwebsite.com/app/?af=380101



See what's new at AOL.com and Make AOL Your Homepage.
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Catherine Myers Licensed Real Estate Broker,  Pleasant Hill,  CA

Date: October 7, 2007

Steele clarified about taking business with you when you leave a brokerage: Now many brokerages will let you leave with your client book and listings today.  But they don't necessarily have to, so it is very important to have a clear understanding in writing as to what happens if you resign from a firm.  Don't just presume you take things with you.  Read the fine print.  The courts have continuously upheld the concept of the brokerage and it's ownership of business created during it's contract timeframe.>>>
 
 
Steele, you are right, however I was in this instance talking about myself. I wouldn't go to a brokerage whereas I couldn't take my business with me.  That to me is the difference between being an IC and employee.. I can find a place that accepts my terms, or I can move on.  I've never heard of anyone at my company NOT taking their business with them, including active listings.  However, if they are involved in a RELO deal, that is a separate arrangement.  Your point is well taken however, KNOW what your agreement is with your brokerage... especially with respect to your clients and business.
 

Catherine Myers, REALTOR
GRI, CRS, e-PRO, ABR, SRES, QSC
Alain Pinel Realtors
Walnut Creek, California 94596
Website: http://www.DiabloValley.net
Direct: 925-627-3027

Editor's Note
Yes, it is best to have an agreement with the brokerage as to what happens upon termination. See the NAR Code of Ethics provision: Standard of Practice 16-20REALTORS®, prior to or after terminating their relationship with their current firm, shall not induce clients of their current firm to cancel exclusive contractual agreements between the client and that firm. This does not preclude REALTORS® (principals) from establishing agreements with their associated licensees governing assignability of exclusive agreements. (Adopted 1/98) John
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Arizona tom Finn Licensed Real Estate Agent,  AZ

Date: October 8, 2007

I worked for Zip for over a year in Phoenix.  My experience: I received on average 65 leads per month... I needed at least 185 leads to find ONE quality customer who was actually interested in buying... Instead of the normal 3% that you would receive in a traditional 100% shop, Zip pays around 0.86%... You must give 25% of your commission on your first 2 deals to your team leader... There were around 3 meetings each week I had to attend in addition to two teleconferences... I worked 12 hours per day (you had to keep up on correspondence with leads), 7 days a week (but I took 1 day off each month) and made a little over $7,000 my first year there... my income increased 650% the first year after I left there... They do have some great people working there and do provide some good training occasionally.
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Simone Pilz Licensed Real Estate Agent,  FL

Date: October 8, 2007

Zip Realty is growing because they must be epro member and they respond to their customers immediatly via email and they have good customer relation and referrals.
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Robert King Licensed Real Estate Broker,  Saint Petersburg,  FL

Date: October 8, 2007

 
Jeff was piping in on the grass is greener over there scenario, and has finally seen the light and is back at the 36 cents on the dollar broker plus all the added fees that eat up all the profits.  Maybe it's the multi-level service agreement that seems so attractive, I don't know it never worked for me.   But you got to ask yourself
 
Sometimes the grass looks greener till you get up close and realize it's fake. (that's why it's so Green) I just went back to Keller Williams Realty and I'm so glad to be back. I worked for a new smaller company that charged $89.00 per mo and $300.00 for the first two deals.
 
Maybe the problem was, it was a NEW company, I know that can be a problem especially in a climate like the one we are currently in.  89 bucks a month $300 dollars from the 1st two deals doesn't sound bad if you know how to get listings and buyers.  But I know for a fact 36 cents on the dollar is no bargain regardless of how many agents you sponsor.  It's all in the timing and who's running the show.  If the broker in fact is good and knows how to provide an atmosphere to make money what difference does it make which firm you work for? This business is a name recognition business run by independent contractors.  If the broker can provide leads that are workable I don't think it makes any difference.  However, newbies in a new company with no back bone to assist the agents is a looser I don't care what the split is.  You have to have an atmosphere of loyalty and comfort for the business to find stability.  That takes time and hard work!  Most agents who come into this business come here to get away from the 9-5 nonsense and boss they love to hate.  This business is no different accept you are no better than your ability to communicate to the needs of your clients and customers.   I don't care who you work for, only the individual can accomplish what's necessary to be successful in this business.  Having a name is paramount, however people get tired of the same old cliché's and nonsense that big outfits pump out in TV commercials and billboards.  People want results and they are not about to list with the big name because of a big name.  It may work through one or maybe two listing periods but in the end the person doing the presentation is who they want to work with.  Why do you think there are so many mom and pop firms in this business?  I work for a 100% keep it all outfit, I get my own business.  They keep the paper work straight I keep the customers and clients straight.  I work here because I've worked for the biggest the best and the rest, I've even had my own firm, it's not worth all the aggravation and complaining and negativity I see out there on your own.  It works for me and it can work for you.  If you want the comfort and security that seems to be in that pasture you came from and the split makes since to you, don't let me stop you.  But if you want to be a success in a firm that can provide the most for the least, I say go with the company where you produce and keep the most. I wouldn't recommend a 100% office with a monthly fee and minimum closing fee to the newster.  Get some training and learn how the business works.  I mentor many in my company, but mostly old school agents who have lost their way and need a little re-positioning to get back on track.  I'm not saying the big company fails to offer anything, but they don't offer a whole lot other than their plan that works with their big company attitude.
 
Robert King
Broker/Consultant
Charles Rutenberg, Realtors
Clearwater, Florida 
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