North Texas-based JP&Associates is entering the iBuyer market on behalf of its agents, launching an instant offer platform across the exploding firm’s brokerage and franchise network this week. 

This makes JPAR, a full-service brokerage with a capped transaction fee, the first independent brokerage in North Texas to launch an exclusive iBuyer program for its agents. It’s called JPAR Instant Offers.

“Entering the iBuyer market gives our agents a competitive advantage over Opendoor, Knock, OfferPad, and the other unilateral “sell now” offers,” says Giuseppe J.P. Piccinini, President and Chairman of the Board of JP & Associates Realtors. “This will greatly benefit our clients and agents.”

J.P. says he has partnered with a Seattle-based company, OfferAI. which relocated to Dallas in January.

“OfferAI is a white-label iBuyer that uses a bot to make instant offers on off-market properties. It empowers agents to present themselves as an iBuyer from their brokerage site, or their own affiliate page of OfferAI,” says Jack Burns, Founder and CEO of OfferAI. 

Unlike most of the current iBuyers on the landscape, JPAR associates become the “chaperones” of the webpage so they can guide sellers through the process and they retain a 3 percent commission on accepted instant offers.

“And that’s a game-changer,” says JP.

Burns relocated to Dallas from Seattle earlier this year with his firm. He says Texas is a preferable market for the rapidly growing iBuyer market, more so than Seattle, because of our relatively affordable home prices.

“The iBuyer space has not made a strong presence in the Seattle market because the median sales price is $669,500, way too high for iBuyers,” says Burns.
 
Seattle is home to Zillow, Amazon, Microsoft, and other high tech companies, but not likely to be an iBuyer hub.
 
“Texas is a sweet spot as far as home prices that work well for iBuyers,” says Burns, “That’s a home usually in the $200,000- to $250,000-ish range.”

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Briggs Freeman Sotheby’s International Realty, a major independent brokerage in North Texas catering to luxury real estate buyers and sellers, will celebrate a very special anniversary coming next year.

For this brand, 2020 will mark 60 years since the doors first opened at the corner of Lovers Lane and Preston Road as Ben R. Briggs Realtors with a small group of agents to start what would become one of the most significant independently owned boutique brokerages in Texas. Robbie Briggs joined his father’s firm in 1979, took the reins in 1983, and merged with Charles Freeman in 1989 to form Briggs Freeman Real Estate Brokerage. In 2010, Robbie bought Charles out and aligned with Sotheby’s International Realty to create Briggs Freeman Sotheby’s International Realty. 

What better way to celebrate a diamond anniversary than with a big real estate move!

Briggs Freeman Sotheby’s is upgrading its current Lovers Lane headquarters with a move to prestigious Turtle Creek Boulevard.

The move this fall makes room for the firm’s growing agent population and pinnacles the company’s 60 years of success, which will be celebrated throughout 2020.

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A very familiar face in Dallas, an icon of residential Dallas real estate, buzzed back into town before March blew away to check out his properties here, including the company with his name on the door, Dave Perry-Miller Real Estate. 

Then, for a couple of hours, he spoke with a small group of advisory board agents and his own team at the Luther Lane office, providing Dave’s view on the Dallas residential scene on both the sales and business side: a macro view of the market. And he’s coming back again, to teach some classes to DPM agents. This man really LOVES, KNOWS, and OWNS houses! No wonder he set so many records SELLING them!  

I caught up with Dave just as he was leaving town…

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We were the first to tell you of the sad demise of Virginia Cook Realtors. And though “others” reporting this story have said that Virginia Cook Realtors shut down all offices, that is not the truth.

The Sherman office of Virginia Cook Realtors has been acquired by Dallas City Center Realtors.

Paragon Realtors debuted in Sherman, Texas, this week with the acquisition of the Virginia Cook Sherman office, the No.1 brokerage in the area, by Dallas-based Dallas City Center Realtors. Sherman is about one hour north of Dallas.

“These agents were so committed to staying together and active,” says Yvette Grove, director of Dallas City Center Coaching and Training. “They had already selected another building. They had their news signs designed and ready in a week.”

Agents chose the name “Paragon” for the newly branded office. “Paragon” is a model or pattern of excellence, exemplifying the hallmark reputation of both companies, says Pat Rowland, manager of the former Virginia Cook Sherman office.

The rebrand and new look will begin rolling out across several North Texas counties this month, including Grayson.

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News from Ebby Halliday: Catherine Sims has been named Vice President of Core Services for the Ebby Halliday Companies.

Core services are real estate related companies and, well, services that touch and enhance the real estate transaction. They are necessary, but you usually have to shop around for them. Ebby’s affiliated core-service companies available to clients include Home Team Mortgage, The Lending Partners, Home Team Insurance and Texas Premier Title.

Chris Kelly, president and CEO of the Ebby Halliday Companies, announced Sims’ new position this week. And he emphasized the Ebby Halliday Companies’ distinct position in the North Texas marketplace as an organization that meets the needs of its sales associates and clients during the entirety of the real estate transaction, including now core services.

“To ensure this unique distinction remains at the forefront of our business strategy, we have created the role of Vice President of Core services,” Kelly said in a statement. “Catherine Sims possesses an intimate understanding of the strength and capabilities of our core services through her past leadership role within The Lending Partners, where she was frequently at the forefront of connecting and communicating with our sales associates and their clients, focusing on how our amazing mortgage, title and insurance teams deliver an exceptional experience.” 

Sims has been with Home Team Mortgage and The Lending Partners for more than 10 years. She has served as a loan originator and in sales-management positions. Now she will help coordinate a seamless real estate transaction for every Ebby client.

“My new role will be the ‘glue’ that pulls together each of our core services,” Sims said. “This model has been very successful within the HomeServices family of companies, of which we are a proud member.”

As Chris Kelly explains it: when you buy a car, you don’t go to one place for the body, the next for tires, then another for interiors and a steering wheel. The real estate transaction is many more parts than just the contract. Ebby Halliday aims to make the entire experience as seamless a transaction as possible, with “one-stop shopping”, something that HomeServices has been doing in other markets for years. (more…)

seppes
 
As we may have mentioned, it’s real estate awards season. By now, you must have heard of The Seppes, an evening gala to top all galas, otherwise known as JP & Associates annual black-tie awards.
 
JP & Associates is one of the hottest real estate stories in North Texas. A story that is so big, it’s quickly becoming a national story, as JPAR gains recognition from industry heavyweights such as REAL TRENDS, Inman, the Inc. 5000, and more as one of the top 100 real estate brokerages in the US.
 
Founded by Giuseppe “JP” Piccinini in Frisco, JPAR is a full-service transaction-based real estate brokerage firm specializing in real estate sales and marketing services. With more than 1500 agents (growing daily), 21 offices and $2.6 billion in sales in 2018, JPAR operates multiple offices across Texas, Louisiana, South Carolina, and Florida. It is the largest independent and privately held brokerage in Texas, and third in DFW for home sales. 
 
Now offering health insurance and other corporate benefits for agents, JPAR is also offering franchising opportunities for entrepreneurial real estate professionals.

“Our model – a full-service brokerage with a capped transaction fee, a productivity standard, and a service-based culture – is resonating with agents and consumers alike,” said Mark Johnson, JPAR Chief Operating Officer. “We have built a top producers dream and a culture that supports the emerging trend of teams.”

The fifth annual Seppe Awards gala took place this year on Sunday, Feb. 17, at Gilley’s in The Cedars. Every square molecule of the venue’s 91,000 square feet was packed with JPAR agents, friends and supporters. The Seppes have grown sequentially, and this year I estimate at least 1,500 were celebrating, dressed to the nines, and rocking to the band Emerald City.
 
And to think the very first Seppes took place in JP’s living room five years ago!
 
Nicknamed Seppe (short for Giuseppe, JP Giuseppe’s legal name), the 5th  Annual Seppe’s Awards did not disappoint. The surprise comes at about 11:00 pm flor those who are still dancing (most everyone): Waffle House! Last year, it was Whataburger. What will it be next year? Jump for this years winners and more fantastic photos of an evening that exceeded expectations…
 

Giuseppe “JP” and Lauren Piccinini

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JP & Associates just wrapped the firm’s annual conference last weekend in Dallas, ending the whirlwind event with a star-studded awards ceremony, food, drink, and the famous Dallas band, Emerald City. It happened at Gilley’s and about 1,400 from D/FW, Austin, San Antonio, North Carolina, and even Florida attended.
 
This year marks the largest JPAR annual awards celebration to date.
 
And now the fast-growing Texas-based brokerage is offering all agents access to an associated health plan and retirement benefits. This move follows JPAR’s push to franchise last summer.

“I could not be more excited for our agents,” said JP Piccinini, founder and CEO of JP & Associates Realtors. “With the latest additions to our company, our Realtors now have options regarding health insurance and retirement plans.”Agents with the company now have access to an annual agent health care plan and retirement plus bonus plan options through its newly created program, Gemini. (more…)

Inman Connect is happening right now in New York City, if any of you are there please ping me. I couldn’t attend this year.

But we are watching! Apparently Robert Reffkin sat down Tuesday with Brad Inman for an “invite-only” chat, where Robert revealed that Compass won’t be expanding into any new markets this year, and that the Dallas Compass launch was a total success in the company’s eyes.

I have heard from industry insiders that Dallas has been Compass’s most successful launch thus far, unlike Chicago, San Francisco and a few others.

According to Inman, “Compass opened offices nationwide in 2018, but the company won’t be going into any new markets this year, according to Compass CEO Robert Reffkin. The brokerage, instead, is drilling down into its current markets with plans to hire more managers and support staff in 2019, he said.” They will, however, be making acquisitions, but in a softening real estate environment, they will not be getting out the big bucks for them. 

In Texas, Compass now has offices in Dallas, Houston and Austin. Which pretty much covers the state, right? So if you are a broker in a major city that has not been “disrupted” by Compass, like say El Paso or OK City, whew! Take a breath! Toss that Xanax, all is good.

For now. Others at Inman Connect say iBuyers will be 50% of the market in ten years. (more…)