August Cover Story: Exceeding Expectations

Above: Gino Blefari, CEO, HomeServices of America; Chairman, Berkshire Hathaway HomeServices; Christy Budnick, CEO, Berkshire Hathaway HomeServices

Photo Credit: Four Seasons Resort Nevis

Real estate professionals are often called a lot of things—friend, confidant, advisor—but at Berkshire Hathaway HomeServices, one term stands out above all the rest: hero.

Ordinary individuals who find strength to persevere in spite of all obstacles—the network agents who make up the Berkshire Hathaway HomeServices family put in the maximum effort and go the extra mile without expectation of reward or recognition day in and day out.

It’s these everyday heroes that become an integral part of a client’s life throughout the home-buying or -selling journey—helping them make important decisions, guiding them through the process from start to finish and being there for every milestone along the way.

Subscribing to the network’s foundational pillars of trust, integrity, longevity and stability, agents affiliated with Berkshire Hathaway HomeServices are constantly raising the bar, going above and beyond for their buyer and seller clients as well as the communities they serve.

And even with all the talk about technology replacing agents, their role at the center of the transaction has never been more critical than it is today.

In fact, for those leading Berkshire Hathaway HomeServices into the future, encapsulating the value of a real estate agent is akin to capturing lightning in a bottle.

Small actions, big impact: serving clients through the journey and beyond
“Our network agents are truly everyday heroes,” says Christy Budnick, CEO of Berkshire Hathaway HomeServices. “And when I say the word ‘hero,’ I don’t mean grand acts of heroism or anything Superman-style, but rather, all the small things that add up to be truly monumental.”

Every action has a reaction, which is especially true in the world of real estate, where people are looking to their trusted advisor to guide them through one of the largest financial investments they will make in their lifetime.

And because an agent doesn’t get paid until a transaction closes, there are times when they may work with somebody for a year or more on a property or properties—and if it doesn’t close, that agent basically contributed all of that time for no financial return.

“But the important thing to note is that they’re furthering those relationships and really embedding that trust with their client,” says Budnick. “And that pays dividends over a lifetime.”

Embracing what Berkshire Hathaway HomeServices refers to as the Forever AgentSM mindset, network professionals are there for their clients before, during and after the transaction.

“For Berkshire Hathaway HomeServices network agents, it’s not just about the transaction,” explains Budnick. “It’s about serving our clients throughout their lifetime, not just their real estate needs, but their lifestyle and community needs as well.”

This includes being a resource for clients, providing information about who to go to when they need a haircut, the best spot to get the family pet groomed and scheduling school tours to assist families in their search for the best education programs meeting their children’s needs. 

“We help people move into their home, achieve their dream of homeownership and take them through that whole transaction—staying connected after the sale as well. More often than not, that’s where you get the client for life. If things haven’t gone ‘just right,’ stay on top of it and do whatever it takes to get them a great experience,” says Gino Blefari, CEO of HomeServices of America and chairman of Berkshire Hathaway HomeServices, who goes on to explain that in the past, an agent could be the hero by just finding their client a house for sale.

But with so much more information available today, clients are more knowledgeable than ever before, making it even more important that agents pull out all the stops as they guide them through the real estate process and beyond. 

“There are so many people who could be the hero, from the sales professional to the CEO of the brokerage. For example, a sales professional leads the transaction for the customer, so they’re the hero in that instance. To me, the hero is the person who leads by example and does all the right things,” explains Blefari.

“I help people achieve their goals faster than they would in my absence and that’s been my mission throughout my entire career,” adds Blefari, who is the perfect example of someone who has helped people achieve their goals faster than they would in his absence.

Advancing homeownership in underserved communities
For Teresa Palacios Smith—chief diversity, equity and inclusion officer at HomeServices of America—the hero theme is one she holds near and dear to her heart.

“When you have a hero growing up who exuded genuine kindness, love and energy to everyone she met despite suffering from congestive heart problems, you can easily identify others who are heroes as well. And I see so many in our organization and across the real estate industry itself,” says Palacios Smith, who points to her mother as her first hero.

Overseeing the organization’s commitment to employment and agent diversity programs, Palacios Smith notes that it’s a role she takes very seriously.

“The reason I feel so connected to my role is because throughout my life—going back to my days in middle and high school as well as at the beginning of my career—I was often ‘the one and only.’ The one and only Latina in the business, and I felt very isolated. So I know that I stand in a position of privilege and I have the power to make a difference.”

To that end, Palacios Smith goes on to explain that she’s always been a fan of (super)heroes.

“I’ll never forget Spider-Man’s adage, ‘With great power comes great responsibility.’ At Berkshire Hathaway HomeServices, that translates into creating programs, training and opportunities that can help recruit diverse talent and tear down some of the barriers that both employees and agents can experience,” she says.

While the act of being a hero involves gestures that are both large and small, Palacios Smith goes on to explain that creating an environment that fosters diversity, equity and inclusion (DE&I) is an integral piece of the puzzle at HomeServices of America.

“We want to foster a culture of diversity and inclusion, as we know that through our work, we foster new ideas, perspectives and belonging, which is really important,” says Palacios Smith, who works hand in hand with network members who are rising to the challenge day in and day out and positioning themselves as heroes in their day-to-day lives.

Whether it’s championing the LGBTQ+ community, advancing homeownership in the Black community, increasing sustainable homeownership for the Hispanic and Latino community, helping widows and survivors with the tedious and laborious work associated with the process of having to downsize or find alternative housing while dealing with grief and loss, or working closely with the veteran community, there is no shortage of network members who are doing incredible work to advance DE&I initiatives in the communities they serve.

Reaching a more diverse agent base that can serve these communities is also important, especially as the future unfolds.

“I know firsthand just how important it is to have your voice heard and see people who look like you within the organization and the companies we operate,” says Palacios Smith, calling attention to the network’s Women Who Lead series, which highlights many of the dynamic leaders who are part of the real estate industry and the HomeServices of America ecosystem.

“What began back in 2020 as a Facebook and YouTube series has grown into a popular podcast that focuses on DE&I work that many of our organizations are committed to,” explains Palacios Smith. “It also focuses on mentorship, sponsorship and bringing other women up the ladder into leadership roles.”

Persevering through challenging times
As the real estate market continues to shift and we deal with low inventory and a higher interest-rate environment that’s likely to persist for yet another year, network members must step up even further to truly persevere and position themselves as the go-to expert consumers can count on to get them where they need to be to achieve the American Dream of homeownership.

“First and foremost, they’ve got to understand that this is a time where it takes the real pros,” says Blefari. “While we’re dealing with less sales, the agents who are at their best are still doing business.”

For Blefari, rising to the challenges in today’s market is all about going back to basics.

“People always ask me, ‘What’s working for agents?’ And I know they’re looking for some silver bullet or some gimmick and what I tell them is, ‘You know what’s working? When they work and they do their job.’ It’s that discipline of the daily grind, the ability to do what has to be done every single day that works,” says Blefari, who points to an agent’s mindset, work ethic and skills as the three components that stand to have the biggest impact in a downward-moving market.

“You want to create a standard that’s very high, because there’s always going to be somebody better,” says Blefari. “Our job is to catch up and pass them by creating goals that inspire us to become more than we are right now.”

Blefari adds, “Everything I’ve achieved in my life—to whatever degree that looks like, success or not—it’s always been this: that I had to become a better version of myself in order to achieve it.”

While the last few years have been off the charts, according to Budnick, we’re now back to a more normal market, trending somewhere within the 2014 – 15 timeframe in terms of closed units.

Staying ahead of this shift requires network members to implement refreshed strategies to continue to expertly serve their communities, which begins with a great deal of education.

“We’re still seeing multiple offers here and there, but the pendulum has swung. It’s not a seller’s market, but it’s also not squarely a buyer’s market, so there’s a lot to navigate as we work to educate the public and our client base as we move through this rapidly changing market,” says Budnick.

“As a company, we’re providing our network with increased training and materials to elevate our network agents to the role of community expert, which makes them authorities on their local neighborhood,” she adds. “This also positions them as someone who’s there to provide advice and assistance on any number of housing- and community-related queries and issues.”

Staying the course and never letting the negative voices persevere is the name of the game for Palacios Smith.

“There’s a lot of negativity out there, but we continue to persevere because we know we’re doing the right thing,” she says.

“Creating the Forever Brand that’s for everyone—that is one of the visionary ideas that captures the essence of what each of us looks to accomplish each and every day. When you have this as your North Star, there’s nothing that can get in the way of achieving your goals of inclusion and impacting the homeownership opportunities for those who need it most,” concludes Palacios Smith. 

For more information, please visit https://www.BerkshireHathawayHS.com.