Use Virtual Reality to Your Clients’ Advantage

Many real estate agents may feel intimidated or threatened by the advent of virtual reality (VR), but this awesome new technology can be used as a very effective (and dazzling) tool to help and sell to clients. VR may look like a game, but it’s a very serious marketing strategy. VR is a technology that allows clients to see a property through headphones and specialized goggles. Some VR can also be seen through phone apps, laptops and other devices. VR allows the ability to show a client a property — even in other cities and states — without having to physically be ...

Millennials are Skipping Starter Homes

For the last decade or so, the conventional wisdom on Millennials has been that they prefer to rent and, because of the Great Recession, they are living longer in their parents’ homes. However, those standbys are becoming old news as Millennials begin buying homes and start careers and families. In fact, Millennials are now a large part of the homebuying demographic. The catch, however, is that once again they are bucking tradition; they’re passing on the traditional starter (entry-level) home and going instead for larger, more expensive houses. The reason for this trend: older Millennials who are in their mid-30s have simultaneously saved ...

How to Best Serve Real Estate Clients with Disabilities

A majority of homebuyers with disabilities desire real estate agents who are trained and knowledgeable about accessible housing options. According to a 2015 survey by Century 21 and the Harris Poll, one in five homebuyers who have a disability claim they do not get the proper assistance. There are 40 million Americans living with disabilities.  The Americans with Disabilities Act (ADA), which was signed into law in 1990, prohibits discrimination against people with disabilities. This includes the processes and transactions related to the real estate industry. Here are a few tips on how to best serve a client with ...

5 Ways to Educate a FSBO Seller

About 89 percent of home sellers in the real estate market sold their home using a real estate agent or broker, according to the 2017 National Association of REALTORS® Profile of Home Buyers and Sellers. Home sellers offering their home For Sale By Owner (FSBO) remained at 8 percent for the third year in a row. And 3 percent of home sellers used a different method to sell their homes, such as company-provided relocation. The FSBO rate continues to decline since the NAR first kept track of it in 1981. In that year, 15 percent of home sellers took the ...

Sure Signs That Your Neighborhood is About to Gentrify

The good-vs.-evil debate about gentrification continues to rage, but the juggernaut shows no signs of letting up. It’s the name given to the process in which old, deteriorating neighborhoods are revitalized by younger and higher-income residents. Although gentrification can surely improve the quality of a neighborhood, it can also cause a crisis for those long-time residents who can suddenly no longer afford to live there (often called community displacement). This process often contributes to an imbalance of racial/ethnic makeup; the general perception of people leading the gentrifying include white professionals and Millennial “hipsters.” Landlords and real estate investors take advantage of this ...

The Biggest Real Estate Deal Breakers

For an investment as important as a house, the smallest details can put a stop to what could otherwise be a big, beautiful deal. Ultimately, though, a buyer needs to think of a home purchase in Latin: caveat emptor (“let the buyer beware.”). Often, the deal breakers are right in front of you and hard to miss; other times, they take you by surprise, but not if you’re able to work from a deal breaker checklist. Here are just a few of the most common real estate deal breakers: A home your client can’t afford Be careful when a dream home can be ...

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 ...

Study: The Housing Affordability Gap for Minorities

In the course of your work, you may be noticing a growing gap between the haves and have-nots. Housing affordability is becoming a growing and increasingly obvious problem. According to a recent study by Redfin, home prices across the country’s largest cities have increased by 26 percent since the Great Recession rock-bottomed in 2012. Since that time, the median household income rose 1.6 percent, but housing affordability for the middle class is diminishing. Redfin uses this example: In 2012, a family earning the area median income could afford 44 percent of the homes for sale. By 2016, the share of ...

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 ...

Still Hot: The House Flipping Market

Even with the current short inventory for available homes for sale, house flipping continues to be a lucrative incentive for profits. One of the keys to flipping success is the balance of supply and demand — the market your client chooses has to have a healthy dose of both. Of course, the current lack of inventory affects the rule. According to Money, the average flipped house is getting smaller — only 1,422 square feet, on average. Even so, RealtyTrac reports that, in 2016, gross profits for flipped houses was almost $63,000, with a 49.2 percent gross return on investment. The nation’s ...