Today’s HousingWire Daily is a crossover episode of RealTrending. It introduces Tracey Velt, Editorial Director of HW Media Company RealTrends, who interviews Chris Kelly and Christian Wallace. Kelly is the President and CEO of Ebby Halliday Enterprises, which is part of Berkshire Hathaway HomeServices from America in Texas. Wallace is the head of the New York company Better real estate group.
This interview with Kelly and Wallace was originally featured on a panel at the recent annual HousingWire event and focuses on the evolution and importance of core services for real estate brokerage firms.
Here’s a little preview of the interview, which has been edited slightly for length and clarity:
Tracey Velt: Which basic service gives you the best returns and by what factor?
Chris Kelly: So mortgage, if you are just ranking your different segments of activity in a business, what is your most important return? It will always be for Mortgage for us here… It can vary from state to state depending on your brokerage model and your splits and everything in between. In our market here, what we would see is that for every 10 houses you sell on the brokerage side, that’s the equivalent of about a mortgage. And it can sometimes go higher too. So that’s a big return and you can see why so many brokerages go wide-eyed when they think they should start a mortgage company because they see those kinds of numbers.
Christian Wallace: I mean, these are mortgages, but if you think you put your client first, that makes it a little different because by also having a real estate agency and a securities company, we can stack our products, and we ‘are able to offer different products that others cannot. And so, if you think about it, the person who benefits the most from your basic services, not necessarily the financial part, is the customer.
HousingWire Daily reviews the most compelling articles reported on HW Media. Each afternoon, we provide our listeners with a deeper insight into the stories aired in our newsrooms that help drive the markets forward. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch. If you have a podcast pitch or request, you can contact our team at [email protected]