Find Your Niche in Real Estate

Real estate offers a wide world of opportunity, but you will be most successful when you narrow down your skills and focus on a specialty. Set a goal to become the go-to agent for a specific area or type of property or client. However, finding what type of real estate excites you — or choosing among many — can be challenging. Ask yourself the following questions when drilling down to your specialty niche: What do I know most about my community? Research what type of people live there (for instance, Millennials or Baby Boomers). Find out which groups are the most underserved ...

Catch the Boomerang Buyer!

Life happens in cycles, and a new one is about to offer you a big opportunity. The homeowners who defaulted on their mortgages during The Great Recession are eligible to buy homes again. Those bankruptcies are coming up to be discharged — many have already been — and those homeowners may be contacting you. Between 2007 and 2014, more than 12.8 million homes began the foreclosure process. That’s 29 percent of all homes with a mortgage. In 2009, when foreclosures were at their highest, more than 650,000 homes entered foreclosure in a single quarter. That’s 1.5 percent of those with ...

Where Do You Stand on the Real Estate Generational Divide?

We’ve all faced the perception that the real estate industry is slow to change, resists technology, and insists on doing business the same way it always has for decades. We’ve seen older colleagues struggle with spreadsheets, virtual reality and even smart phones, and we’ve known brokerages that are still mostly relying on hard-copy paperwork and file cabinets. The truth is that the real estate business is actually evolving fast, and is in the midst of a sea change. It’s opening itself up to a tidal wave of technology, and is eager to catch up and move ahead of the curve. Younger ...

Construction Outlook 2018

An increasing reliance on technology (drones, virtual reality), a continued interest in live/work/play urban nodes, growing concern over infrastructure, and changes in demographics are what will be influencing construction in 2018. In addition, construction is what will help the country bounce back from the natural disasters of 2017, which included hurricanes, wildfires, and heat/cold waves. Specific construction trends that are expected to continue to increase in 2018 include modular/prefab structures. The perception that prefab is cheap and poorly constructed is quickly changing — Today, top architects are becoming interested in the benefits of this business, which include decreasing profit margins and lowering construction ...

America’s Hottest Urban Suburbs

The idea of the American suburbs reflecting a Fifties sensibility of white-picket fences, enclosed backyards, shopping malls and car culture — may be gone forever. But the suburbs themselves are not gone, or anywhere near the end of its role in American culture. Instead, suburbs are taking a cue from cities. They’re reinventing themselves to appeal to the young people who prefer an urban, live/work/play environment, complete with walkable communities, green spaces and hip, vibrant gathering centers. The CBRE Group reported that only 30 percent of Millennials live in cities. The other 70 percent are part of a migration from urban ...

Relevant Advice for your Clients — Get a Roommate

Almost one in three U.S. adults are living with an adult roommate, according to new findings by the Pew Research Center. This roommate situation is not traditional in the sense of a romantic partner or an undergraduate college student. What’s the reason for the rise? We’ve all heard about Millennials still living in their parents’ basements due to stifling student loans and being unable to afford a home of their own. That’s largely true. The other situation comes from the other end of the spectrum: many Baby Boomers are moving in with their adult children. Almost 79 million U.S. adults – ...

Should you Work with a Hybrid Brokerage?

The old days: brick-and-mortar real estate brokerages, with human, hands-on real estate agents who guide clients through the process of buying and selling property. The coming days: technology agencies, almost exclusively available online, where an entire deal can be handled in the digital realm. It’s not as surprising as it first sounds. Ninety percent of homebuyers use the Internet as their go-to research tool, according to a joint study by The National Association of Realtors® and Google. These days, a home search starts with the Internet, viewing the property on smartphones, and learning negotiating tutorials on YouTube. The real estate agent is ...

Considerations when Selling a Solar-Powered Property

More and more homeowners are understanding the benefits of powering their home with the sun; most importantly: helping to preserve the planet and saving money (win-win). However, a solar-powered home can still raise questions and leave potential homebuyers perplexed and unsure. What solar power does: it absorbs clean energy from the sun, reducing greenhouse gas emissions that are harmful to the planet. It reduces the carbon footprint and lessens our dependence on fossil fuels (when burned, fossil fuels create toxic gas that cause pollution and possibly global warming). In 2015, the Department of Energy reported that adding solar to your house ...

Is Direct Mail Marketing Outdated?

It’s a belief that, on the surface, it seems to make sense: direct mail marketing is dead. It was killed by the Internet. Here’s how direct mail is defined: it’s the practice of sending mail to a target list of prospects. The goal is to have a small percentage of them respond to that mail. The logic: that small percentage responding to your mail will more than make up for the expense of the mailing. It’s a game that has been played -and won- for decades. It’s true that there has been a drop-in response rate over the last decade. However, direct ...

How to Sell a “Smart” Home

The hip way to refer to smart technology is “the internet of things,” or IoT. This allows devices in the home to communicate through software and a central network. These devices can be operated and controlled from a phone app, from anywhere (even outside the home). They can help choose and program preferences, settings and security, and help save energy. You’ll be finding smart technology more and more throughout both old and new homes, from refrigerators and stoves to washer/dryers, security systems, lawn sprinklers and even window blinds and crock pots. Also think keyless doors, adjustable lighting and motion detectors that ...