Disruption is hitting the real estate industry more than other industries, and at a faster rate, or so it seems to those of us who watch the daily, sometimes hourly, changes from our North Texas perches. Speaking of Perch, there are iBuyers looming on the horizon — even mainstream media is starting to pay attention. That big, hairy-scary class-action “bombshell” lawsuit,  the one that could upend the U.S. real estate industry by forcing changes in how buyer’s agents are compensated (negotiate commission between buyer and agent individually, not dictate the commission to be paid by the home seller) has been amended: more plaintiffs and defendants have been brought in, and the suit is now emphasizing the role commissions and MLS groups play in “steering buyers”, potentially raising costs for sellers. 

Executives and agents are migrating, leaving traditional brokerages, heading towards perceived greener pastures with brokers married to technology, but not necessarily married to an office. 100% commission split brokerages are thriving and rising, with Frisco-based JP and Associates Realtors® (JPAR) taking the charge. 

JP and Associates is excited to announce that Geoff Lewis is joining JPAR as President of Vesuvius Holdings, LLC. Vesuvius is the parent company of JP and Associates Realtors and JPAR Franchising.

Geoff Lewis was most recently President of RE/MAX Holdings, LLC. where he worked for thirteen years. Lewis retired from RE/MAX in early 2018. RE/MAX, with those familiar red signs, is considered the largest real estate brokerage in the world. It was founded in 1973 by David and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 115,000 agents provide RE/MAX a global reach of over 100 countries and territories. Nobody in the world sells more real estate than RE/MAX as measured by total residential transaction sides, which led the company to a post-recession record high in U.S., Canadian and worldwide agent count (100,000+ agents in 100+ countries) and franchise sales. Geoff served on several several industry boards and is widely respected within the industry.

Geoff Lewis was instrumental as a member of the RE/MAX senior team in guiding the organization through a tumultuous 12 years.  He was a part of the team that repurchased almost a dozen regional privately owned master franchises, was a member of the team that guided the firm to its public offering and was important to the organization in so many other, less visible ways.  REAL Trends always found Geoff to be bright, engaging and thoughtful in our dealings with him.  Along with the RE/MAX family we wish Geoff only the very best in his future endeavors: Steve Murray, President, REAL Trends Inc.

Mr. Lewis was ranked in the top fifteen in the Swanepoel Power 200 list of industry leaders.

In citing his reasons for joining JPAR, Mr. Lewis stated: “our industry is ripe for disruption.”

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I don’t know why, but these pea-green bathrooms straight from the 1950’s fascinate me. Our very first home in Dallas (on Ainsworth, northwest Dallas) has this same green tile mudded in. I love that the owners of this house took that green to the max, painting the cabinets an even darker shade of green with the closet door to match. Oh yes, the walls: green too!

So here you have it, a St. Paddy’s Day green loo, all for you!

This home is somewhat of a deal, too, especially if you love Midcentury Modern…

Wait, no that is not the home. But that is what it COULD be with a little effort. (more…)

PeavyThose windows. Those beautiful, enormous windows that give you a glimpse inside this mid-century gem and look out to this beautiful Old Lake Highlands neighborhood of 50s- and 60s-built homes. For this week’s Thursday Three Hundred, we check out this move-in ready mid-century home at 936 Peavy Road in the shadow of White Rock Lake at E. Lake Highlands Drive and Loop 12.

Huge new picture windows and stained wood columns make this 1956-built home stand out from the rest. Hardwood floors and fresh new paint are the first updates you see as you walk into this 1,348-square-foot home.

The living room flows seamlessly into casual dining and the kitchen that features stainless steel appliances including refrigerator, built-in microwave, stove/oven, and dishwasher. Granite countertops, ceramic tile backsplash, and new cabinets make this kitchen feel brand new.

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Once again, Frisco makes national Real Estate news, not for being the very best community to live, or the fastest-growing community in the U.S., but for being oversupplied with brand new homes as the real estate market shifts from a seller’s paradise to a buyer’s market, and as new home sales dip nationwide by almost 9 percent:

The shift may be most pronounced in what were once the most sizzling markets. Consider Frisco, Texas, a city 30 miles north of Dallas, where narrowly spaced villas of stone and brick have replaced cow pastures. Its population nearly doubled over the past decade, to 177,000. Its 8 percent jump last year made it the fastest-growing city in America.

Prashant Gopal is an excellent journalist and a friend of our’s from NAREE. He writes in Bloomberg of how falling sales and diving housing stocks are also affecting real estate agents in Frisco, who seem to be taking the biggest hits from each other as they shrink commissions in the “builder battleground”:

On a recent weekday, Konara, the real estate broker, drives his Dodge minivan along Highway 380, a builder battleground, where national giants such as Lennar, Toll Brothers, and PulteGroup go head to head with Texas companies. He stops at sales offices, where balloons festoon posts in a vain effort to spur sales. He points to empty houses that he says were completed six months ago.

His own sales are half what they were in 2016. In many cases, he’s rebating to customers all but $1,000 of his commission on each home sale. He walks into an Indian restaurant for lunch and looks up at the television screen. A competitor, the “Maximum Cash Back Realtor,” says he’ll take only $750. “You know what that means,” Konara says. “I’ll have to do the same.”

Prashant drew attention to the fact that Frisco is also home to the glittering Legacy West, transplant nirvana with Toyota headquarters (which may have subsidized some homes for employees) as well as Dallas Cowboys headquarters, where any day you can see real estate agents dining alongside football players and the Jones family. I believe the agents he is talking to, like Konara, but I also had to check with the man who’s company sells more of Frisco than anyone: J.P. Piccinini:

JP and Associates

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Cliff May East Dallas Home Leads the Way Among Our Dallas Open Houses | CandysDirt.com

We do the hard work every week to find the most wonderful open houses every week. Every Thursday, we pick three fabulous open houses in Dallas (and the ‘burbs from time to time) you shouldn’t miss.

One of the houses in our CandysDirt.com Open Houses of the Week this week is a Cliff May-designed beauty. 

“[That house] was designed by famed architect Cliff May in 1956 and was featured in the Casa View Cliff May Home Tour in 2016,” said listing agent Mindy Oglesby-Niehaus with JP & Associates Plano. “It was a favorite to many tour goers as they said it felt as though they were up in the trees. Cliff May’s architectural design was focused on indoor and outdoor entertaining and boasts classic midcentury design elements.”

This week, our houses range in price from $299,000 to $2,999,999. Which ones will you visit? 

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And CandysDirt will be there right on the red carpet… will bring you photos, Who’s Who, and all the buzz…. straight from The Bomb Factory!

Mark Johnson

In Real Estate coaching, there are three big names: Brian Buffini (Buffini & Associates), Mike Ferry and Tom Ferry. And now, one of the insiders from Tom Ferry is a principal at JP and Associates Realtors.

It is no secret that the DFW brokerage market is in a frenzy. Agents are jumping one firm for another, and starting their own firms left and right. A Wall-Street financed New York firm is here, Compass, with word of another major national player coming.  Coldwell Banker is back, and its no longer a secret: if a broker can not offer huge support or leads to an agent, that agent is gone. Vamoosh.

That is one reason why JP & Associates REALTORS (JPAR) is now one of the top 100 brokerages in the nation, with multiple offices across the state of Texas.  Named one of Inc’s 5000 fastest growing companies in the U.S., JPAR is a Real Trends 500 Brokerage with over $1.8 billion in sales in 2017.

And it will only get better. JPAR has hired Mark Johnson, one of the nation’s leading Real Estate coaches, as the firm’s new Chief Operating Officer. (more…)

Lakewood Hills Contemporary | CanysDirt.com

The Lakewood Hills contemporary at 7315 Casa Loma Ave. is built to impress. It’s also one of our three open houses this week.

We love bringing you an insider look at hot North Texas properties with our CandysDirt.com Open Houses of the Week roundup. Every Thursday, we pick three fabulous open houses in Dallas (and the ‘burbs from time to time) you shouldn’t miss.

This week, our houses range in price from $459K to $980K. You’ll find a lovely Lakewood Hills contemporary, a Midway Hollow midcentury ranch, and Munger Place Prairie-style Craftsman. Let us know what you think of our choices, and if you know of any we should feature next week!

 

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