Airbnb: How Real Estate Agents Can Benefit

These days, many real estate agents are getting relatively new requests: finding properties that can be converted into Airbnb short-term rentals. Airbnb, founded in 2007, is a privately-owned website that allows hosts to rent out their space to guests who are looking for a place to stay temporarily, most likely for vacations or business trips. The best way to describe it to the uninformed: it’s a Craigslist for renting space on a per-night basis. Unlike the hotels/motel business model, the owner can rent the property directly. Property owners all over the world are turning their spaces into vital financial assets. And the ...

How Walkable is Your Market?

You’re surely noticing an increasing amount of requests from your clients for a more walkable environment. Now you can actually support your solution with solid statistics. The Walk Score platform (offered as both a website and a phone app) measures and scores the walkability of any community. It features a nationwide, public access walkability index that assigns a numerical score to any address in the United States, Canada and Australia. What makes a neighborhood “walkable?” According to the Walk Score website, the four factors to consider are health, environment, finances, and communities. The score is becoming increasingly important to buyers and ...

How to Sell to Baby Boomers in 2018

We can thank the Baby Boomers for expanding the real estate industry -and the suburbs- in the years between 1946 and 1964. As they grew, their spending power and buying habits were unmatched in American history; they changed the course of the way we live, advertise, market and buy. These days, Boomers -almost all 75.4 million of them- are about to retire or are already in retirement. This makes them once again a new and lucrative sales pool for real estate. Retirement has always been a big business for real estate salespeople and developers, but the same old retirement story no ...

Secondary Markets are Red Hot –Here’s Why

By no means are secondary markets less hot than primary markets. In fact, secondary markets are now where the action is. The cities that used to be afterthoughts are now experiencing rebirth, a younger demographic, and a hip reputation. Secondary markets include Houston, Portland, Raleigh-Durham, Salt Lake City, Atlanta, Charlotte, Dallas/Fort Worth, Nashville, Denver, Miami, Seattle, and Austin. Primary markets are the more traditional gateway cities, like New York, Los Angeles, Washington, D.C., Chicago and San Francisco. There markets have always been major commerce and population centers, with a steady flow of foreign capital. What’s bringing the secondary markets to life: booming downtowns, ...

Is the 6% Commission Fee Still the Norm?

Technology, demographics and the economy are changing the way the real estate industry does business, and the changes keep coming at a dizzying pace. This evolution is causing home seekers to question how real estate transactions have been done for decades, and this includes the formerly traditional six-percent commission fee. Also now being freshly debated: splits between a buyer’s agent and a listing agent. Of course, the six-percent commission has always been considered standard, but it was never the law, and it was not always universally applied. With barriers coming down and middlemen being eliminated, commissions are dropping and brokers are reconfiguring. The ...

Prepare for the Homeownership of Generation Z

Millennials — the name given to the generation born between 1982 and 2004 — have been capturing the American imagination as they come of age, especially with their rejection of many things older generations took for granted: shopping malls, food preservatives and fast food, network television, automobiles, the suburbs, and buying homes. It’s become common knowledge that Millennials prefer urban-like locations, public transportation and bikes, healthy food, phone apps, and renting. However, let’s not overlook Generation Z, born (arguably) between 1995 and 2010 (precise definitions vary). They already consist of 21 percent of the American population, or 66.3 million people, and ...

How Will the Rental Market Affect Real Estate Agents in 2018?

The hottest thing going on in real estate? Single-family rentals. Detached homes or townhomes -for rent- are being produced faster than any other sector of the housing market. That’s more than single-family home purchases and multifamily properties. The Urban Institute reports that the single-family rental has seen growth every year since the dawn of the Great Recession, and has remained at a 30 percent growth rate for the past three years. Compare that with less than a 15 percent growth rate for the once-red-hot multifamily market. After declining for seven years, the single-family rental is hot again. The number of households ...

The U.S. Housing Market 2018: Boom or Bust?

Many experts predict that sellers will continue to control the market in 2018, with housing inventory at astonishing lows and housing demand continuing to rise.  This trend will allow private and institutional sellers to keep their prices high. Inman reports that low inventory may be the biggest factor in discouraging buyers in 2018 – this is in spite of the housing that started rising to 1.297 million units in November 2017. The listing shortage will also affect pricing. In 2017, 25 percent of homes on the market sold within two weeks or less during the peak buying season, according to ...

Thoughts from Some of Real Estate’s Most Successful Women

Women leaders are increasing their foothold in the real estate industry. The Swanepoel Power 200 (SP200) ranks the definitive residential real estate’s 200 most powerful leaders. In 2017, women show up in 45 of the 200 slots. That reflects three years of growth on the SP200 list, up from 19 percent in 2015 and 22 percent in 2016. Can you see yourself on this list? As your career progresses and you take with you the belief that “anything is possible,” keep in mind some thoughts from the industry’s most successful women: Barbara Corcoran Entrepreneur and Co-Star of Shark Tank Although she was ...

The Suburbs Are Not Dead — Here’s Proof

We’ve all heard the stories and maybe even began to believe the hype: that Millennials are rejecting communities that depend on automobiles; they’re turning their backs on the suburbs that most of them come from. We’re told that they prefer cities, which offer a walkable live/work/play environment. They gravitate to communities offering public transportation (including light rail), bike trails, and life within walking distance. This is an authentic trend; it’s happening. However, rumors of the death of the suburbs are highly exaggerated. In fact, the only thing Millennials seem to be driving is the suburban resurgence. It turns out that Millennials don’t ...