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Two Real Estate Agents Say Racism Was Part of the Culture at Brokerage

March 23, 2023 by www.nytimes.com Leave a Comment

Jarret Willis, a Black real estate agent at a luxury brokerage in the Hamptons, said his co-workers called him Jafar — a comparison to the brown-skinned, villainous sorcerer from “Aladdin.”

Managers routinely lobbed racial epithets around the office, according to a lawsuit filed on Tuesday in New York State Supreme Court by Harlan Goldberg, who is white and who worked with Mr. Willis at the brokerage.

Mr. Goldberg is suing their former brokerage, Bespoke Real Estate, for wrongful termination, unpaid commission and punitive damages. He claims he was fired in part for his objections to Mr. Willis’s treatment by the co-founders of the company, the brothers Cody and Zachary Vichinsky. His lawsuit follows complaints that Mr. Willis filed in February with the U.S. Equal Employment Opportunity Commission and New York State Division of Human Rights. Mr. Goldberg and Mr. Willis plan to jointly file a separate suit that will focus more on the claims of discrimination, according to their lawyer, Adam Leitman Bailey.

“Bespoke categorically denies the allegations and looks forward to vindicating its position in court,” Marc A. Sittenreich, a lawyer representing the firm, said in a statement.

The allegations come amid national scrutiny of discrimination in the real estate industry where, according to the National Association of Realtors, only 8 percent of agents are Black nationwide.

Bespoke operates in the upper crust of luxury real estate, dealing primarily with properties listed for $10 million or more, with a large presence in Miami, New York City and the Hamptons. Three of the 10 most expensive ZIP codes in the country are in the Hamptons, according to RealtyHop , a real estate data website. The town of Southampton, the location of the Bespoke office, is 83 percent white and 5 percent Black, according to the census.

Mr. Willis, 44, a former model who co-owns a fashion boutique in Bridgehampton called Blue One, joined Bespoke in 2017 as a sales associate. He said he was recruited by the firm for his network of friends and associates. His first deal, the sale of a $32.5 million Bridgehampton estate where he represented the buyer, netted him a commission close to $400,000, he said.

But office life was filled with indignities, Mr. Willis said in an interview. In early 2021, Cody Vichinsky, one of his managers, said that he should order “watermelon and fried chicken” for lunch, adding a racial slur, according to Mr. Willis. Mr. Goldberg said he also heard the comment.

In a text message shared with The Times, one white colleague wished Mr. Willis a happy birthday, followed by a racial slur.

The same co-worker sent Mr. Willis a text message saying that an orange shirt he wore made him “look like an inmate,” and used a racial slur to describe the look.

“It killed me inside,” Mr. Willis said. “But the reason I stayed and swallowed it and dealt with it was because I was always owed money,” adding that he disputed his share of the commission on a number of transactions that he helped close.

In April 2022, Mr. Willis was demoted from his role as vice president of Bespoke Parallel, a division of the company, which he claims was retaliation for contesting how much was owed to him for recent sales, according to the lawsuit.

Payment disputes can be especially vexing for Black real estate agents. White agents in 2021 were paid a net median income of $39,500, while their Black peers were paid just $14,400, according to the National Association of Realtors.

The company fired Mr. Goldberg in September 2022, a month after he said he raised concerns about Mr. Willis’s demotion, as well as issues with outstanding payments on some of his transactions, according to the lawsuit.

Mr. Willis resigned from the company in December 2022. The last insult, he said, was when he discovered that his company-issued email account password had been set to “Jafar24!” He quit a few days later, he said.

“I want an acknowledgment of their behavior,” he said. “I want an apology.”

Susan C. Beachy

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Selling Your Home This Spring? How To Navigate a Tricky Real Estate Market

March 23, 2023 by www.newsweek.com Leave a Comment

After a few red-hot years for home sellers, rising mortgage and interest rates along with widespread economic uncertainty have cooled the market, leaving many buyers out in the cold and forcing sellers to reevaluate their pricing strategies. In recent months, we started to see rates drop — for example in January 2023, they were at their lowest in four months (then in February, rates crept up again ).

But keep in mind that mortgage rates hit a 20-year high (subscription required) in late 2022 at more than 7%, so we’re still better positioned than we were last year. In fact, I’ve noticed that offer activity seems to be resuming as buyers return to the table with pent-up demand; this should help balance out higher interest rates.

Regardless of market conditions, the decision to sell your home is generally based on personal circumstances like stage of life, financial situation, family changes or career moves. Some homeowners can wait until the market starts trending up again, while others will have to sell despite market conditions.

The more homeowners know about their selling options, the better equipped they are to take control of their sale and come out ahead, even in a slower market. Assuming a relocation is in your future this spring, here’s what you need to know.

The Factors Driving Home Selling Success: Exposure and Price

The more buyers you reach, the more offers you’re likely to get. One of the easiest ways to widen exposure is by listing your home on the Multiple Listing Service ( MLS ). This can be done either through a real estate broker or a licensed online home selling platform (but it’s not available to “For Sale By Owner” (FSBO) sellers). When your home is on the MLS, it will automatically appear on the biggest real estate search sites (e.g., Zillow, Redfin, Trulia and Realtor.com) — and hopefully capture the attention of buyers nationwide.

Marketing your home through the MLS is only one key step; equally important is setting the sale price. Educate yourself about what homes are selling for in your neighborhood, how your home compares to current inventory (known as “comps”) and how long comparable homes are generally on the market. Over-pricing a home usually means it languishes — and the longer a house is on the market, the more it seems stale or even undesirable to prospective buyers. Finding the sweet spot (sometimes even slightly under-pricing the property) could lead to the coveted bidding war.

By considering these factors in advance, you can maximize your chances of success.

Budget for Pre-inspections, Repairs and Staging

Before you dive into the home selling process, make sure you budget for repairs and staging.

First, determine if there are any issues that need to be addressed before listing—this is known as a pre-inspection. Consider hiring a certified home inspector to conduct a pre-inspection, evaluating factors like the HVAC, furnace, windows, water heater, plumbing, appliances, toilets and even kitchen cabinets. It’s smart to invest in large repairs up front, rather than waiting for issues to be discovered during the buyer’s inspection. More deals fall apart during that phase than any other, and it’s usually due to buyers learning the home needs a significant amount of unforeseen work.

Next, budgeting for staging, which includes painting in neutral tones and upping curb appeal through yard work and minor landscaping, can go a long way in making a strong first impression. You can also consider making small improvements if they fit in your budget, like adding smart thermostats or energy-efficient appliances.

But not everything about prepping your home costs money. It’s key to disconnect yourself from the personal character of your home. Buyers want to picture it as theirs, not yours — and you can achieve this for free. Family photos, knickknacks and kids’ trophies detract from this illusion, so declutter and depersonalize as much as possible. Make sure every countertop and surface is bare and bookcases are minimally but tastefully styled. And color code your closets so they look neater, better organized and bigger; buyers care about storage space.

Choose the Best Selling Approach for Your Situation

As I wrote recently, there’s more than one way to sell your home. Options include working with an agent, FSBO or online selling platforms — and it’s up to you to figure out which best meets your individual needs.

Working with a real estate professional is still the most popular option, but it comes at a steep price (usually 6% commission). For some, the full-service offering real estate agents provide justifies the price; others may prefer a route that allows them to preserve more equity and control.

For example, a number of technology platforms are helping to democratize a market that estate agents once had a monopoly over. (Full disclosure: My company is one such platform.) They generally charge a flat fee rather than a percentage of the sales price. These tools can help home sellers streamline and automate the selling process and retain more control throughout. But not all platforms offer the same value; look for those that are easy to use, harness advanced technology and include guidance from licensed real estate professionals.

Finally, you can sell your home yourself and avoid paying commission, but keep in mind that FSBO homes can sell for up to 26% less than assisted real estate transactions. However, FSBO may make sense if you already have a potential buyer in mind.

Of course, you need to account for seller closing costs, which will be deducted from your equity payout. Generally, closing costs for a seller can amount to roughly 6% to 10% of the sale price , including agent commissions, transfer taxes and fees.

Final Thoughts

Sellers looking to capitalize on the spring market should start planning now. Take the time to carefully think through every aspect, from pricing and listing all the way to fixing creaky cabinets and dusting behind the furniture. The more ownership you take of the process early on, the better positioned you will be for long-term success.

Filed Under: Uncategorized Experts, NEF, Real estate, housing market, us residential real estate market, long beach real estate market, us commercial real estate market, atlanta georgia real estate market, free real estate marketing templates, commercial real estate market data, commercial real estate marketing, commercial real estate market analysis, commercial real estate market research, bangalore commercial real estate market

New Homes for Sale in West Cobb this Week

October 16, 2013 by patch.com Leave a Comment

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Real Estate

Find homes for sale on West Cobb Patch each week, from our partners at Zillow.

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Posted

Whether you’re looking to move to West Cobb, or are hoping to find a new place in the community you already call home, here’s the list you need. make corrections and changes here.


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New Homes for Sale in West Cobb This Week

October 23, 2013 by patch.com Leave a Comment

Sponsored By New American Funding

Real Estate

Find homes for sale on West Cobb Patch each week, from our partners at Zillow.

Ann Marie Quill's profile picture

Ann Marie Quill , Patch Staff Verified Patch Staff Badge
Posted

Whether you’re looking to move to West Cobb, or are hoping to find a new place in the community you already call home, here’s the list you need. make corrections and changes here.


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The rules of replying:

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Filed Under: Uncategorized Real Estate, new home sales consultant jobs, homes for sale west haven utah, new home sales vs existing home sales, homes for sale west babylon ny, homes for sale west richland wa, homes for sale west winfield ny, homes for sale west lafayette in, homes for sale west lafayette indiana, homes for sale west caldwell nj, west sacramento new homes

Homes for Sale in West Cobb This Week

November 20, 2013 by patch.com Leave a Comment

Sponsored By New American Funding

Real Estate

Find homes for sale on West Cobb Patch each week, from our partners at Zillow.

Ann Marie Quill's profile picture

Ann Marie Quill , Patch Staff Verified Patch Staff Badge
Posted

Whether you’re looking to move to West Cobb, or are hoping to find a new place in the community you already call home, here’s the list you need. make corrections and changes here.


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The rules of replying:

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  • Review the Patch Community Guidelines.

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Filed Under: Uncategorized Real Estate, rushland homes for sale, rushland plantation homes for sale, rushland landing homes for sale, rushland pa homes for sale, worland homes for sale, cobb 500 chicks for sale, 94107 home sales, trussler west homes for sale, west rounton houses for sale, h&m home south west

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