Understanding Property Managers’ Toughest Problems

Many real estate agents work closely with property managers in order to supply them with tenants and fill vacancies. Often, though, it’s easy to forget the many types of challenges, issues and even dangers that property managers face on a daily basis. If you’re able to walk a mile (or a hallway, or lobby) in a property manager’s shoes, it may lead to more empathy towards them and in turn, they may trust you to understand the challenges they face. Here are just a few: Backlash to rent increases Tenants are never happy about an increase in rent, but it’s an inevitable part ...

Foreclosure by the Numbers 2018

First, the good news: in Q1 2018, foreclosures were down 19 percent from a year ago, and 32 percent below the pre-recession average of 278,912 per quarter from Q1 2006 to Q3 2007, according to ATTOM Data Solutions, a national property database. Its Foreclosure Market Report shows a total of 189,870 properties with a foreclosure filing during Q1 2018. That has actually increased by four percent from the previous quarter. Here’s where it gets complicated: the report shows a total of 74,341 properties with foreclosure filings in March 2018. That’s an increase of 21 percent from an all-time low in the ...

8 Ways to Grow Your Client Base

Even if you can sell snow to the Eskimos, your snowball business won’t be lucrative until you can find a lot of Eskimos to sell to. Convincing someone to trust you with their business, money, or vital needs is a tall order. Never leave this to chance, and don’t depend on growing your base randomly or organically. Instead– keep this checklist in mind when growing your client base: Know your industry inside and out Read websites and periodicals that dedicates its content to your type of business. Attend industry functions and join industry organizations. These strategies will help you get to ...

Americans Most Preferred Way to Invest Money: Real Estate

Despite all the political and social upheaval of the last few years, some things in our culture remain consistent. One of the more unwavering rules of thumb: real estate is one of the best ways to invest money and become financially secure. According to a recent survey by bankrate.com, real estate remains the most preferred way to invest the money that won’t be needed for at least a decade. In fact, this is the third year in a row that real estate topped the list. The second preference: no-risk cash investments, followed by stocks. By the numbers: 28 percent ...

6 Career-Building Certifications for Real Estate Agents

Your real estate education continues long after you pass your initial license certification test. You’re learning every single day while on the job; sharing insights with associates, and hopefully benefitting from those more experienced in the field. However, additional official certification often helps widen your knowledge and earns you additional credentials as a real estate professional. The National Association of REALTORS® and its affiliated Institutes, Societies, and Councils provide a wide-range of programs and services that help members increase their skills, proficiency, and knowledge. Designations and certifications acknowledging experience and expertise in various real estate sectors are awarded by NAR and ...

Selling Land — Why It’s Not Like Selling Houses

It may not look like much at first — mounds of dirt and maybe some trees — but selling land is a lucrative business (and yes, there is plenty more land left to sell). However, the methods and dynamics involved in selling land may not exactly mirror more traditional real estate sales, like residential and commercial transactions. Often, land itself looks rather generic and undistinguished. If this is the case, the best-selling strategy is to emphasize the location and income potential. Ask many questions; find out exactly how your client plans to use the land. Not every client may be automatically looking to ...

The Eviction Process Basics

If you work regularly with landlords and property managers, you know that dealing with evictions come with the territory. It may help your clients — many of whom may be buying investment properties or simply renting apartments — to know that you’re familiar with the basics of eviction. The bottom line: follow the rules, which vary from state to state, and sometimes even from city to city. They’re put in place so that evictions cannot happen on a whim. In just about every eviction case, a court order must be obtained, after the appropriate notice (or notices) have been issued. In ...

The Transition to Real Estate Development

You’re already rolling in an entrepreneurial career — transitioning to real estate development will keep you in that creative, self-starting state of mind. You can develop both residential and commercial properties, and you’ll continue to negotiate rates and contracts. Being a licensed real estate agent is already a good first step towards a career in real estate development. This bolsters your experience in the real estate field and the various types of properties that come under development. You’ll also become familiar with price ranges and negotiation nuances. Another great way to get on the development fast track — work with a ...

New Townhouse Construction Continues to Rise

Forget the split level and the McMansion — townhouse construction starts continue to post gains in 2018, according to an analysis by the National Association of Home Builders (NAHB) and the most recent Census data. Over the last four quarters (ending with the first quarter of 2018), townhouse starts totaled 105,000. That’s seven percent higher than the prior four quarters. Another name for townhomes: single-family attached housing. This housing style comprised 21,000 starts during the first quarter of 2018, which was actually a slight decline from the starts of a year before: 22,000. The current market share of new townhouses: 12.3 percent ...

Home Buying Traffic Continues to Stampede

“Strong” is the word for recent buyer traffic, according to the January 2018 REALTORS® Confidence Index Survey. This report measured buyer traffic conditions from November 2017 to January 2018. Compared to conditions exactly one year ago, Realtors® responded that conditions ran from “stable” (unchanged) to “very strong.” The states with the strongest buyer traffic: Washington, Idaho, Nevada, and Utah. Even the states hit by hurricanes — Texas and Florida — reported “strong” buying activity compared to a year ago. Two states reported weaker traffic than a year ago: Alaska and West Virginia. This may be related to the decrease in oil prices ...