When Selling a Vacation Property

Vacation home clients come from two directions — those who dream of a getaway escape haven, and those who have had enough of the second mortgage, the upkeep and the friends and family who insist on dropping by. That gives you numerous opportunities to increase your commissions. In 2014, 21 percent of all home sales in the U.S. were vacation properties, according to Inman News. That same year, vacation-home sales reached 1.13 million, according to the National Association of Realtors®. That’s the highest amount since the organization began the survey in 2003. Buying and selling a vacation home is not ...

What Clients Really Want from You

This may come as no surprise: nearly 62 percent of buyers and sellers are looking for lower fees when it comes to dealing with agents, according to a Redfin survey of 1,000 respondents. However, this part may surprise you: 22 percent of those surveyed said that low fees actually made them concerned about the quality of the service. From that same survey, buyers and sellers are increasingly finding that they want their agents to be as tech savvy as possible. Of those surveyed, 57 percent said that technology is vital. However, behind that comes yet another surprise: 31 percent of those surveyed ...

What Does It Take to Join the Six-Figure Commission Club?

Real estate agents who earn $100,000 or more a year seem to be of a different breed than the rest of the pack, according to a study by  InmanNext, a website operated by Inman News. Surveying 1,300 real estate agents who earn at least $100,000 a year, the study found that these agents tend to close more deals. Sixty-six percent of those surveyed said they closed 20 or more transactions in a year. Compare that to about half of those who earn $30,000 to $50,000 and say they closed fewer than ten deals. These high earners work longer hours. Forty-two percent ...

Is Print Advertising Dead?

Digital advertising is clearly no fad — it’s here to stay, for sure. However, good, old-fashioned print advertising cannot yet be counted out. The debate rages on, even as small neighborhood newspapers continue to die out and advertisers move en mass online. Of course, most print newspapers have an online component these days, as media continues to contemplate how to update and fine-tune their business models. The National Association of Realtors® (NAR) reports that more than 90 percent of homebuyers begin their search online; only 27 percent say that they bought a property they saw in the newspaper. What remains about ...

When Selling the Most Expensive House on the Block

An incredible house is always a welcoming sight when showing real estate. It could mean a larger commission for the agent, bragging rights for the new owner, and a “mission accomplished” for the seller who poured a great deal of capital into the property. However, love is blind. Make sure to take a look around the neighborhood after the initial excitement wears down. If the other houses are shabby or in disrepair, and if the neighborhood is not exactly known as upscale, the house may be too expensive for its own good. You may want to be the agent who keeps clients ...

Use Video to Build Your Brand and Market Your Properties

Video is consistently proving to be a useful tool for website engagement; in other “words,” for clients to spend more of their valuable time on your site. We’ve all heard the expression, “a picture is worth a thousand words.” According to V. Michael Santoro and John S. Rizzo, co-founders of InVidz, LLC and developers of Vaetas, an online video marketing syndication network, adding a video means you could keep customers engaged for a full two minutes. That may not sound like a very long time, but two minutes is gold when it comes to appealing to potential clients’ deteriorating ...

How the Housing Inventory Shortage Will Affect Real Estate

If you’re working with sellers in 2018, you may be in luck. The home inventory across the country is in short supply, and may remain that way through much of the year. It’s a sellers’ market. According to the National Association of REALTORS® (NAR), home prices have been on the rise for 69 consecutive months, but available homes for sale were down 9.7 percent from a year ago. It’s the ole supply and demand rule: a shortage of inventory will drive prices up. The only problem with that is first-time homebuyers may be priced out of the market. The situation started with ...

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 ...