For Robert Farnsworth and his team at RE/MAX Associates in Salt Lake City, referrals from residential agents at the company recently resulted in two transactions—a sale and a lease that together topped $6 million in volume. In the first transaction, the team represented the seller of a 24,240-square-foot industrial warehouse. The $4.8 million transaction closed in March, and the team’s marketing won them attention on the second deal: a $1.5 million lease transaction on an 18,000-square-foot industrial warehouse. Both properties were in West Valley City, Utah.
For Farnsworth—who recently celebrated 40 years in the business and earned his REALTOR® Emeritus status—there are definite advantages to being a REALTOR®, a member of the National Association of REALTORS®, and working in a company that has more than 240 agents, most of whom are residential. “We’re competing against big companies, and we outperform the big companies almost every time,” he says. “We leverage our residential agent relationships in support of Article 11 of the [NAR] Code of Ethics, encouraging residential agents to partner with us.”
Article 11 calls on REALTORS® to practice within their area of competence. And working with Farnsworth’s team is a win-win for residential agents, he says. “We paid $43,907 in agent referrals in those two transactions.”
Two other factors set the team apart, he says. “We answer our phones, and we spend more time on our offering memorandums.” Farnsworth packs his marketing with data—including price. “Some other companies tend to leave it out,” he says, “but price is one of the first things people want to know.”
