Keller Williams, the American franchise brand planning to launch in the UK, has appointed a chief executive to develop the London operation.
She is Pam O’Bryant, who was previously chief executive for Keller Williams in Arlington, Virginia, in the States.
She has spent over 30 years in the property industry although a key part of her role has been the ongoing training and career development of property advisers.
Donald Morris, chairman of Keller Williams UK, said: “Pam brings great people and training skills. I have no doubt her ability to help property advisers succeed at a high level will be invaluable as we recruit and develop Keller Williams in the UK.”
O’Bryant said: “I relish a challenge and I am delighted to be joining Keller Williams in the UK. Building and developing a new team of talented individuals is always exciting and what I love to do.”
The most powerful thing in US real estate is it's MLS technology that opens access to other fellow agents available (share nominated listings). The US models can empower agents more than UK agents gain from B2C only UK portal models.
Many Brits will bring over a US model, its branding and yet miss the thing that really makes the US realtor strong. The ability to work with other agents as introducers and sub marketeers.
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While I agree with Trevor's remarks over the way Realtors use the MLS (the actual technology is similar and in some respects ours is better), there is another aspect which is not available to UK agents and this is also critical.
The MLS is only open to members of the National Association of Realtors (NAR) – regarded as the most powerful lobby in the US – but that's another story.
My point is that all Realtors have to be qualified which means no unqualified firm or individual can trade as a Realtor or have access to the MLS which is the most important marketing tool available in the housing market.
Once upon a time a few States allowed Realtors to apply for licences without strict examinations as such but all States have since fallen into line. Although some criteria are stricter than others they still enjoy a monopoly of the 'Realtor' title as well as access to virtually the entire market via the MLS.
You may see an occasional FSBO (For Sale by Owner) but without the MLS coverage few actual sell for themselves. They realise they need to be listed on the MLS and that means they must instruct Realtor.
Everyone knows that US Realtors enjoy a higher fee structure than here in the UK but what is not so well known is that they also carry far higher responsibilities than UK estate agencies would dream of accepting. For example when at Completion (which the Realtor attends) they have to give various personal undertakings, NOT on behalf of their seller-client, but on their own responsibility.
These vary from State to State but include things like certifying that all outstanding levies, local taxes, and rates are up to date (and there can be dozens of these outgoings); that the radon gas levels in the property do not exceed a defined level; or that none of the paintwork in the property contain lead. The list of almost impossible criteria continues, which is why Realtors' PI rates are massive as the risks of an incoming owner finding a mistake and suing for damages are quite high as can be the level of damages.
I shall watch the progress of Keller Williams UK with interest.
BTB
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BTB again. Sorry guys. That horrible paragraph left me carefully divided into paragraphs but the breaks have got lost! Nick/Ros: how do you insert breaks? BTB
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BTB – good question. As far as I can see… and have tried pretty much every conceivable way… there isn't one.
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