6 “Big Picture” Business Lessons from Barbara Corcoran

“I found as a real estate broker that people really respond to how you look–especially in a town like New York,” entrepreneur Barbara Corcoran told Inc. magazine. “If you act and look successful, people will make the wrongful assumption that you are.” Barbara’s sharp wit and street smarts helped her become one of the most sought-after business minds in the country. As the founder of the mega-successful real estate brokerage, The Corcoran Group, and a costar/investor on the hit series Shark Tank, Barbara has amassed a large following of loyal entrepreneurial fans. Her success story is not typical: growing up poor ...

Ten Inspiring Quotes on Business Success from Mark Cuban

Mark Cuban is a billionaire entrepreneur, owner of the Dallas Mavericks basketball team, and costar of the hit series Shark Tank. Over the years, he has given consistently smart business advice, and he should know: in 2005, he sold his company, Broadcast.com, to Yahoo for $5.7 billion. Here are some inspiring quotes from the man himself, after a lifetime of business experience and wisdom, both learned and instinctual:  “Know your business and industry better than anyone else in the world. Love what you do or don’t do it.”  “I still work hard to know my business. I’m continuously looking for ways to improve ...

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 ...

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 ...

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 ...

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 ...

When Selling a House with Mold

Mold doesn’t discriminate; it can attack even the best and most beautiful properties. It loves warm, damp, humid conditions (think bathrooms and basements), and it lives and reproduces by creating spores. Mold is never okay with potential buyers or with the bank. Needless to say, if you’re helping your client sell a house, the mold problem should be resolved before any further steps are taken. Otherwise, you’ll need to disclose the issue or open yourself up to a lawsuit by the new owner. To avoid this: have the mold removed, and then test for any remaining or lingering presence. Mold testing kits ...

7 Secrets from the Most Successful Real Estate Industry Leaders

Like in any other business, real estate can often be challenging and discouraging. It’s okay to occasionally lick your wounds and feel sorry for yourself, but don’t give up — there are ways of staying positive, inspired, and on your way to future success. What helps: bonding with other agents, and learning new tips, tricks and strategies that help get you back on the horse and back in the race. While conversing with fellow agents, it may teach you something that could change the course of your own career. A good way to start: listen to the wise words of some of ...

Benefits of Selling to a Professional Real Estate Investor

There may be 7 million real estate investors in the United States who are looking to buy property within the next 12 months, according to the National Association of REALTORS® (NAR). If you have a house listed that is failing to move, you may consider appealing to an investor rather than a typical home buyer. Investors often buy and sell multiple properties in a short span of time. They’re looking to make a fast profit, not settle down and begin a new life. Unlike typical homebuyers, investors are more concerned with their return on investment (ROI), as well as 1031 ...