Industry News

Control is key in real estate partnerships

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Ed Krafchow hates to think of himself as a control freak, but he doesn't like real estate partnerships that aren't split evenly between the two companies involved. A 50/50 partnership is the way to go. "That's what we think works," said Krafchow, president of Prudential California, Nevada and Texas Realty, which provides mortgage services through an affiliated business arrangement with JP Morgan Chase. Krafchow made his comments during an Inman News audio conference on "Innovative real estate partnerships" that examined partnerships between brokerages and other companies, such as mortgage and title. He was joined by Chuck DelGrande, managing director of Presidio Merchant Partners; Sherry Chris, president of Real Living Network Services, and Wissy Wendt, SVP of affiliated services for Long Realty Co. Wendt said her Arizona-based company has been able to achieve such high capture rates – 36 percent on the mortgage side; 66 percent for title – largely because those partnershi...