The Virtual Realty Group, Durham, North Carolina
How did you become interested in the Council and the CRS Designation?
First, I wanted my brand of real estate to be associated with excellence, so I sought out the most prestigious designation. Second, at the time I got into real estate, I looked somewhat younger—I looked like a kid. I wanted to combat that by getting the highest designation available. I researched all of the designations, and I found the CRS. The other reason I decided to get the CRS Designation is because I operate in a smaller firm. So, I use my designations to grow my expertise the way others would use formal training from the bigger firms.
What area of CRS coursework was most valuable?
I had a great instructor, Mark Given, CRS; I took a few courses with him in different states. He taught a course on technology, which featured a section on databases that I found extremely valuable. To me, it was one of those pivotal moments where I can look back and feel like what I learned was such a game changer. I had experience with databases from my previous career, but I didn’t have experience with databases for residential sales.
How do you use your knowledge of databases?
I use it for both housing inventory and my customer database. I have a background in databases, so I’m able to pull reports from different sources, analyze them and come up with my own spin on things. For instance, in a buyer’s consultation, I’ll export some data and show my client the market, why the home might sell for a certain price or why it’s important for them to buy now. I do a trend analysis. Also, I use the CRM database every day.
What are the challenges in the Durham market?
One challenge is the lack of inventory. We have one of the hottest markets in the country, and the inventory is lower than ever. That presents challenges, so now I educate buyers on multiple offers from the beginning.
When I have my initial consultation with a buyer, I will share an example of a house that I listed that had 100 showings, and we received 25 offers in three days. I put all the offers in a spreadsheet, including the terms of each offer—redacting all the personal information. I use that to show clients the offer that won and why it did. That buyer had substantial due diligence and earnest money, they were willing to accept appraisal deficiencies and they went X amount of dollars over the sales price. So, when we start looking at homes in their price point, I can demonstrate how I can give them a competitive advantage based on the offer that won when I was representing the seller.
During the pandemic, are you still involved in RRC activities?
I went to a meet-and-greet last year in Raleigh, at North Hills. I try to do as much as I can, and once we open back up, I definitely plan to pick up where I left off because those events help my business. For example, you meet listing agents—good ones, too. You meet the best of the best. That’s important, because then they’re going to remember your name. If yours is one of 30 offers they get, that person is going to say, “Oh, this is Gerald Mack, a fellow CRS.”
What community activities are you involved in?
I sponsor a couple of American Athletic Union basketball teams. I donate money and time, teaching the kids about real estate. I take them to see homes; these kids are enamored when they walk into some of the model homes. And I see the light bulb go on, the seed planted and they ask what it takes to have a house like this. Then I explain to them: school and doing homework. Then, I’ve opened the door to the concept of credit in their minds at a young age. You would be surprised how much they understand when it comes to credit and how the world works.
Gerald Mack, CRS, achieved the CRS Designation in 2016. He can be reached at gerald@geraldmackrealty.com or 919.672.4138.
Photo: Natalia Weedy
