Louis Herrera

There is only one way to discount on a real estate commission: require the consumer to pay hourly on a semi-monthly basis. (In our hourly model we charge between $235-$317 for real estate services. In our commission model, we charge 3%.) It is the only business solution that makes sense. Hourly rates aren't entirely new. At some point, most experienced real estate agents have closed a transaction on an hourly basis as a courtesy to a past client. What they haven't done is advertised this hourly service. Where we are making a difference in the marketplace is we've incorporated a formal hourly transactions model into our regular full-service offerings. It allows the committed and knowledgeable consumer to save thousands on their commissions, and simultaneously puts money in our pocket on a monthly basis like any other professional provider. Everyone is happy. While the Internet has changed the way consumers interact with real estate information, it will never replace the need for full-service representation. Consumers have neither the time nor desire to learn the nuances of closing a real estate transaction. Like filing a tax return, everyone can do it, but as the schedules get complicated, no one wants to make a mistake so they hire an expert. The goal is to get the most out of a return. The same is true in selling and buying real estate. Louis Herrera, CEO RT Brokerage Services, Inc. www.rtbrokerage.com

As a former urban planner, I was immediately drawn to your article by the headline. After reading your article, I couldn’t disagree with you more. In fact, I am actually a little surprised that as an architect you could draw such a conclusion. Parking standards did not initially come from urban planners, they came from commercial bankers as lending requirements. Parking standards have always been, and will also be a pro-forma line item that commercial lenders use to protect their vested interest in a project. No lender in their right mind is going to lend “Joe Developer” the funds to build a commercial development that has no parking. Loaning money on the hopes that alternative transportation options are on the horizon is simply too risky for any lender. The only way to un-codify today’s parking standards is to plan and build real transit options that give consumers a choice to run their errands in an efficient and timely manner. I’ll bet if you ask any city/urban planner, you will be sure to get an earful on the alternative transportation modes they envision—and it won’t be around asphalt. Louis Herrera CEO/Designated Broker (former urban planner) RT Brokerage Services, Inc. www.rtbrokerage.com

Kris, Congrats! I opened a brokerage 1.5 years ago. Its been hard work, but totally worth it. If you can, look for a workshop by Drexanne Evers. On Monday I sat through her workshop, sponsored by our local independent brokers association, and it was FANTASTIC. I wish I had met her 1.5 years ago. Good luck. -Louis Herrera, CEO/Designated Broker www.rtbrokerage.com