12 Tips to Make Money in Real Estate

12 Tips to Make Money in Real Estate

When you invest in real estate, you invest in something tangible. You can look at it, feel it, drive by with your friends, point out the window, and say, “I own that”. For some people, that’s important psychologically.

Real estate investments have traditionally been a terrific inflation hedge to protect against a loss in purchasing power of the dollar.

When it comes to real estate investing there are multiple ways to earn a dollar. Here are

12 tips to make money in real estate.

1. Taking calculated risks by implementing the LOANs strategy
This is a real bonafide strategy. Using other’s money can help you get started. You can make a fortune in real estate by taking out loans. You might not even be able to get a credit card so you try to put deals together with no expenses other than a phone number.

If you are going to own real estate, on the other hand, then you need to be prepared to take out a lot of debt — or leverage — to finance your property with the least amount of down payment. This can be risky because there are laws stating the minimum that you must put down to buy property in different jurisdiction. Some articles recommend risking it all by taking out credit cards. This is fine if this fits your appetite for risk and using hard money. Just be respectful of the fact that you have to pay this money back. In most cases loans with higher interest rates are meant for short term uses. Some people buy their property free-and-clear.

Leveraging Other’s Assets Now Strategy

2. Care about your tenants by improving your property
What’s the point taking all of the risk if you don’t care about the property?

Many investors don’t care about the condition of the property. They care about getting paid. Some investors would rather offer discounts on rent than make an improvement to their property. This tells me that they are undercapitalized or just aren’t good business people. If you want to invest in property you should care about making improvements to it to optimize the property’s value.Plan for your property to be damaged, budget to repair your property, and take people to court to recover costs. Real estate is built around contracts. If you want to enforce your contracts you have to take them to court often to get liens, judgments, and help getting tenants out of properties. Make sure to talk to your lawyers.

3. Condos vs SFR (Single Family Residence), make for better rental properties
What property type should you choose? Your property type should depend on the real estate itself, however most real estate professionals prefer a specific real estate niche. If you are in real estate you have probably heard the industry adage, “Never fall in love with real estate…fall in love with the ROI.” So what real estate ventures can provide a return on investment (ROI) a real estate investor can love? It’s been said by sites and realtors that condos make for better investments than single family residences, however, it really is based on the numbers. Decide whether you are a cash flow investor or capital gains investor, analyze your deals and make your decisions. It seems that mobile homes and mobile home parks are popular right now.

4. Find partners that you can trust
At some point during business growth, it may make sense to take on a partner. Too much work, you’re stretched too thin, missed opportunities. A good business partner may be the solution – and you can take a day off once in a while.

Finding a business partner is a lot like finding a partner in life. A solid foundation is based on trust and respect for each other. Your business partner will be an integral part of your life.

Finding partners you can trust is a key element for all types of relationships in real estate. Like all relationships, business partnerships are built on trust and mutual value. The beginning phases of these relationships are critical to establishing that trust and value. You need to prove to a potential partner that working together is in both of your best interests, right from your initial conversations.

Eight Ways To Build Trust-Based Relationships With Potential Business Partners

5. Diversification is key
Diversification is important, as with any investment, so plan to buy lots of property, a big portfolio of real estate assets, or do deals. If you do deals by being the middle man, you only need a few good connections to strike it rich. Consider investing in assets outside of real estate to diversify as well.

6. Start local
Robert Kiyosaki mentioned in one of his real estate courses to focus on your local neighborhood and get to know the market well. Focusing locally is a great strategy because you are not far from your property and know what is going on. It can be more difficult doing out-of-state deals because you have to build trust with the people you are dealing with at a distance. It’s good to be able to fly to meet cash buyers and motivated sellers face-to-face. Once you connect with buyers and sellers, you can meet them face-to-face — it’s up to you! You have the potential to become an international expert when you start local.

7. Know Your Neighborhood
As we mentioned previously, starting local is a great strategy. Get connected with local experts who know about the specifics of each neighborhood before you invest. There are such drastic demographic changes between close neighborhoods in the U.S. that it’s good to know people in those locations who you trust, you can joint venture with or consult and to visit those locations yourself so you can see the difference in the areas which you are investing. Some of you invest in such big packages which make it prohibitive to visit every single neighborhood but it’s a good idea for smaller investors to visit where they are investing. Even some coaches visit where they invest.

8. Find a niche
Finding a niche is really important. You do not need to be expert in everything. You need to be exceptional at a few things and customers will buy, tenants will rent, cash buyers will invest. You can try to be an expert in many phases of real estate, or you can specialize in a niche market and become the authority in that market. There are many highly successful real estate agents and brokers that have narrowed their real estate marketing niche focus to a specific geographical area, a type of property or a category of consumer. Recognizing the opportunities that are out there and selecting a niche that appeals to you can be a lucrative strategy. Here are just a few niches to get you started…

• For Sale By Owner Properties (FSBO's)
• Resort and Vacation Homes
• Hispanics are a growing home-buying group.
• More and more Singles are buying homes every year.
• Baby boomers, or Seniors are a huge market influence.
• Luxury Homes - A market requiring specialized skills and money.
• Condominium buyers and sellers offer a great niche opportunity.

9. Pick Trending Markets
In tip 6 remember Robert Kiyosaki mentioned to focus on your local neighborhood? Contrary to starting local, Forbes recommends going where the money is. In this article, David Lichtenstein recommends following hot industries in order to know where prices will go up. He believes that trend spotting is very important to accumulating wealth in real estate quickly. Getting a jump on the upcoming trends can have a positive financial impact on your real estate business. Here are Housing Market Predications for 2019.

10. Have good tax accounting
Claim capital expenses on your taxes to defer paying taxes. Rollover your properties to new investment properties so you don’t have to pay taxes on the sale of one property when upgrading to a bigger one with more doors which cash flows better. Learn the different tax laws in each market so that you don’t miss out on investing in all of the hot markets with the biggest price appreciation. Consult your tax professional.

11. Get control of as many properties as you can while mortgage rates are at historical lows
Debt is still debt. You have to be careful of taking on too much debt because interest rates can rise and you can be over leveraged, unable to refinance, and go bankrupt. With so many countries going into negative interest rates, who knows where interest rates will go. With low interest rates it is more affordable to own property.

Good Debt - There's no better example of the old adage "it takes money to make money" than good debt. Good debt helps you generate income and increases you net worth.

Bad Debt - While even "good debt" can have a downside, certain debts are downright bad. Items that fit into this category include all debts incurred to purchase depreciating assets. In other words, "if it won't go up in value or generate income, you shouldn't go into debt to buy it."

12. Build a lead generation system
“Systems and technology have leveled the playing field.” - Josh Altman, the star of the hit TV show Million Dollar Listing. Some real estate investors have their own IDX integrated sites with lists of 80,000 cash buyers, which really help them, get deals done in their local market when a distressed seller calls them. However, you need to have your own lead generation system to make this happen. Placester provides tools that will help you increase your sales however, look to pay an annual fee of $1,200 to $3,000 if you need an entire IDX integrated site and email marketing. Your real estate leads are your bread and butter. However, you don’t have to start from scratch and you don’t have to pay thousands of dollars to get started. This is why RECBL provides verified real estate cash buyers for agents, brokers, wholesalers and investors to help real estate professionals with real estate ventures. RECBL provides real estate cash buyer packages starting at only $10. Also, with each package, we make sure you are able to access the free real estate property software and free real estate email marketing software.

Here is an article on the marketing trends to pay attention to in 2019.

How much are you going to make in real estate in the next ten years?

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WHY IS IT SO HARD TO FIND CASH BUYERS FOR REAL ESTATE?

WHY IS IT SO HARD TO FIND CASH BUYERS FOR REAL ESTATE?

When first getting into real estate, finding cash buyers for real estate deals can be a challenge or more like a never ending job which tends to have you thinking twice about whether or not real estate is the direction for you; BEEN THERE, DONE THAT.

Locating cash buyers is one of the most important things you can do for your real estate business. The reason is, real estate cash buyers are your customers. These are the people who are going to pay for real estate properties from you. How cool would that be?

Finding cash buyers for your real estate to help you make your first five figure paycheck will motivate you and have you on cloud nine. You’re going to look at that check, you’re going to hold onto it, you may even smell it…but most importantly you are going to feel confident in your choice to move forward in real estate.

First, finding cash buyers in the past was a little more difficult than it is now, however you are in the right spot at the right time to find the cash buyers you need for your real estate. You’ll find a form below to help get you started, and best of all we’ll be upfront as to how much it costs so you know there are no hidden fees…AT ALL! Cash Buyers Lists starting at just $10.  JUST $10!

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There have been multiple ways to locate cash buyers for real estate; Google, Bandit signs, software, classified ads, Investor friendly agents, Auctions and REI groups are just a few. Well, this will help eliminate all of that.

The best way to find cash buyers is to acquire a list of real estate cash buyers in your state, city, county or even zip code. If you want to locate cash buyers for real estate outside your area it’s just as simple. When you acquire your list, you will see everyone on your list has purchased properties either as an individual or as a legal real estate business entity, so you know these are the type of people you want to start a relationship with.

Now after you find these real estate cash buyers you want to send them a letter or a postcard or in some cases contact them via phone and/or email…however, contacting them via phone can, in some cases, can work against you because there are so many different companies, collectors and solicitors trying to reach these people and sometimes a phone call can be the worse way to make contact.

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It really is that simple. Your phone should end up ringing off the hook with people reaching out to you instead of you reaching out to them and that is exactly what you are looking for. So here is how you get started and be prepared to purchase your list today for only $10.

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Commercial Real Estate - Evolving Office Spaces Part 2

Commercial Real Estate - Evolving Office Spaces Part 2

It’s Monday morning, and you have two choices before you: drive into the office and get your lead generation knocked out in a traditional work space, or work from home or a nearby coffee shop using the virtual tools provided by your brokerage.

Which format makes agents more productive, and clients more inclined to purchase or sell a home?

It’s not a clear-cut answer, as it largely depends on personality type, work ethic and the tools a brokerage provides.

This is something that Lynsey Engels, president of Mel Foster Co., a member of Leading Real Estate Companies of the Word®, stands behind, especially when it comes to concrete office spaces.

“While being a real estate agent offers a tremendous amount of autonomy and the flexibility to set your own schedule, not every personality type thrives in an environment lacking frequent personal interaction,” says Engels. “A dedicated office space for agents provides the support and structure many agents need to truly reach their full potential.”

“A physical location bolsters teamwork and allows for ongoing learning and sharing of best practices,” Engels says. “Agents have collaboration spaces that promote networking with their peers, and these flexible spaces can also be used to meet with clients.”

In terms of virtual interactions, Engels uses private Facebook groups as a chat room resource for agents, while still putting more emphasis on in-person interactions. Is Facebook enough of a cyber communication tool for today’s real estate agent?

Josh Harley, founder of Fathom Realty in the Dallas-Fort Worth, Texas, market, believes that Facebook should be used by agents to “freely exchange ideas, share successes and issues, and encourage each other,” but in combination with other tools.

“While I do believe brokerage office spaces are going the way of Blockbuster, it will take more than just a virtual community to replace them,” says Harley. “It will require a multi-pronged approach to ensure agents have what they need to be successful and feel connected.”

With more involved virtual communities—as with eXp’s cloud campus, eXp World—agents can find cyber office spaces that are more complex and interactive, and that take on more of the features expected in a traditional office setting, such as assistance provided by support staff and even team-building activities.

“Most agents are used to paying a desk fee for an office they rarely visit,” says Mitch Robinson, senior vice president of Marketing and Communications at eXp Realty. “Plus, for those who go into the office, they often aren’t able to get the real-time support they need. We have multiple people with the same function who can help agents across North America. We also don’t have desk or franchise fees, so agents save money.

“Even in a virtual office, it is important to embrace our core value of fun,” Robinson says. “Not only do agents do important work with each other and staff; they can drive a speedboat, watch fireworks for the Fourth of July and Canada Day, or join a daily, virtual workout with others across the country.”

Are these virtual perks enough? More and more brokerages are amping up their tech offerings in order to transform their office environment, and, yet, the real estate industry is still a human-centric business in which face-to-face meetings are key to building strong relationships. That’s why Wendy Forsythe, chief operating officer at HomeSmart International, has zoned in on technological innovation that blends well with both concrete office space and the cyber world.

“HomeSmart has built its technology on a proprietary platform called RealSmart Agent,” says Forsythe. “This software is the combination of all the tools and support an agent needs to run his or her business. Agents can build a brand through websites and social tools, market listings, manage their database, have complete transaction management and get paid when the transaction closes. From an agent’s first login, he or she has access to a powerful platform to market, learn and transact with.”

How does the industry feel about a completely virtual office setting with customizable avatars, such as those within eXp’s cyber community? Personalization can help to differentiate users and build a sense of identity; however, while younger, more tech-savvy clients may appreciate the imaginative interactions that come with the modern spin on tradition, the format is still new, leaving questions unanswered. Will it take away from the seriousness of tough transaction conversations typically needed to get to the closing table? Will home showings be replaced with virtual tours? And will the agent-client relationship suffer from a lack of in-person interactions?

“My thoughts on this are twofold: Technology is giving us a beautiful way to extend our personal relationships, which is a wonderful thing, but there is still something magical that happens when humans share energy in the same space together,” says Keith Robinson, chief strategic officer at NextHome, Inc. “There is a reason live events and concerts still draw massive crowds. Sure, it would be fun to listen to a new album on Spotify in your car, but nothing compares to the experience of hearing it live, together with your friends in a shared space. The companies that win in the future will use technology for more reach, but understand the importance of an in-person, communal experience.”

So, what does the real estate office space of the future look like? It depends on who you ask; however, the industry will most likely retain its varied offerings in order to maintain healthy brokerage competition and appease the various personality types of real estate clients.



Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.​




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Commercial Real Estate - Evolving Office Spaces Part 1

Commercial Real Estate - Evolving Office Spaces Part 1

You’re walking along the downtown strip and come across a quaint storefront with large glass windows looking into an agent-occupied office space. From the outside, you can peruse the various listings marketed by the brokerage, and once you enter, you’ll engage with one of the many agents waiting to help you buy or sell your home.

If you think back to more recent memories, however, you’ll realize that this model is swiftly becoming a part of the past. Today, traditional real estate offices are being replaced with variations that embrace technology, as buyers are largely beginning their search online before engaging an agent.

HomeSmart International, for example, has structured the brokerage so agents can choose the more traditional route or a virtual space in which all of its technological systems are still easily accessible.

“A business model that combines the best of the online world with the physical world means the agents get a true win-win,” says Wendy Forsythe, chief operating officer at HomeSmart International. “They don’t have to choose an office location or virtual; they can have both, and this gives them ultimate flexibility in their business.”

The NextHome franchise also embraces a hybrid model to introduce more elasticity in an industry in which not all agents have the same needs.

“I see more and more of our NextHome franchise owners and brokers working in a hybrid-type office,” says Imran Poladi, vice president of Business Development at NextHome. “Gone are the days of having a monster-sized building to accommodate a huge agent count. Today’s REALTOR® wants a professional place for meeting clients but doesn’t necessarily have the need to come into the office every day. With technology being so advanced, it makes sense to have a great work environment for collaboration with colleagues, but the flexibility to work from anywhere.”

Meanwhile, at Mel Foster Co., a member of Leading Real Estate Companies of the World®, physical locations are embraced; however, technology remains at the forefront of the office environment.

“We have multiple traditional brick-and-mortar offices and two boutique-style offices—smaller, more collaborative spaces that support agents’ desire to work in a more mobile environment,” says Lynsey Engels, president of Mel Foster Co. “These meet client needs more quickly with the technology that makes buying and selling more convenient for those clients.”

Other brokerages lean heavily toward a tech-centered office space. eXp Realty, for example, does not have brick-and-mortar locations, and instead provides an immersive virtual experience through its cloud campus, eXp World.

“eXp Realty’s cloud campus environment allows agents to meet and learn together, no matter where they might be located,” says Mitch Robinson, senior vice president of Marketing and Communications at eXp Realty. “They can jump in a meeting or learn on-the-go with eXp Realty agents located everywhere. They also gain instant, live support from eXp Realty’s agent services, technology and accounting teams.

“eXp Realty cuts overhead brick-and-mortar costs by offering agents a cloud campus environment,” Robinson says. “This means we can invest in agent support and technology instead of expensive leases.”

Josh Harley, who founded Fathom Realty in the Dallas-Fort Worth, Texas, market in 2010, has committed to a cloud-based model since day one in order to lower overhead costs, reflecting the savings through an attractive commissions structure that doesn’t sacrifice technology, training or support. While some physical locations are necessary in order to meet certain state restrictions, cutting back on concrete spaces has proved fruitful, according to Harley.

“Unfortunately, not every state allows a brokerage to completely forego brick-and-mortar offices, but that doesn’t mean those spaces have to be large enough to house all of your agents,” Harley says. “Having brick-and-mortar locations is costly and eats up a huge percentage of a brokerage’s revenue and profitability. By eliminating this unnecessary cost, where possible, we are able to keep our expenses low and pass those savings onto our agents in the form of low or no fees and awesome commission splits.”

How do these varying office strategies impact the industry’s agents, and the buyers and sellers they serve? Since each company adopts a unique model, the agent and consumer experience can be vastly different between brokerages.




​​​Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.







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REAL ESTATE - A NEW PATH TO HOME OWNERSHIP

REAL ESTATE - A NEW PATH TO HOME OWNERSHIP

Home Partners of America Creates New Homeownership Opportunities for Consumers While Creating New Business Opportunities for Agents.​

Not surprisingly, renting skyrocketed in the U.S. in the wake of the housing crisis—and whether it’s due to continued financial restrictions, misinformation about options or other reasons, a decade later, a large swath of the population is still choosing to rent.

However, many of today’s renters would likely opt for homeownership given the proper guidance and the right circumstances—and this is exactly where Home Partners of America comes in. Founded in 2012 with the ambitious yet simple mission to make homeownership a reality for more people, the Chicago-based firm offers a simple solution to put people on the path to buying a home.


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FREE HOUSES - INSANE THINGS PEOPLE WILL DO OR WON'T DO FOR A FREE HOME

FREE HOUSES - INSANE THINGS PEOPLE WILL DO OR WON'T DO FOR A FREE HOME

From fast food only to zero communication, most would give up plenty for a free dream home.

Unlike buying a car or paying for a vacation, home buying is clearly an emotion-fraught enterprise.​ There's always a catch.

​For instance, someone offers you your dream home — whether it's a villa in Tuscany or a Palm Springs mid-century ranch — at zero financial cost to you.

But you'd have to give up a beloved pet, or turn down a fantastic job. Or cheer for the Cleveland Browns, who didn't win a single game in 2017.

Here's what people will and won't do for that opportunity, according to a survey from United Wholesale Mortgage. To get an idea of how much Americans value the idea of a dream home, the residential lender surveyed 1,002 homeowners and non-homeowners online in June.

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REAL ESTATE: WHAT BUYERS SHOULD KNOW ABOUT SELLERS

REAL ESTATE: WHAT BUYERS SHOULD KNOW ABOUT SELLERS

The following information is provided by the Center for REALTOR® Development (CRD).

NAR has been administering its annual Profile of Home Buyers and Sellers survey since 1981. The survey has grown from 59 to 131 questions, and gives us great insight into the trends, wants and needs associated with the most significant financial decision of most people’s lives: purchasing a primary residence for themselves and their families.

In this article, we’re going to dig in a little deeper into the findings from the 2018 version of the survey to focus on sellers:

Sellers Are Staying in Their Homes Longer
In the last 30 years, sellers have remained in the same home for longer periods of time. From 1987-2008, sellers stayed in their homes for a median of six years, with the only exception being 1997, when the median tenure bumped up to seven years. After 2008, the median tenure began to increase by one year each year.

By 2011, the median tenure reached nine years, where it remained for three consecutive years, and jumped up again in 2014 to 10 years. It decreased to nine years in 2015, but rose in 2016 to a median of 10 years, where it remained in 2017, effectively doubling since data collection started three decades prior.

It’s not necessarily clear why sellers are staying in their homes longer, but one possibility for some is that they are waiting for their equity to increase, especially given the economic downturn.

Seller Relationships With Agents Are Steady and Strong
Eighty-nine percent of home sellers worked with a real estate agent to sell their home. In addition—same as last year—90 percent of sellers listed their homes on the Multiple Listing Service (MLS), which is the No. 1 source for sellers to list their homes. Only 4 percent opted not to list on an MLS.

Client referrals and repeat business are the predominant ways sellers find their real estate agent. Most sellers—85 percent—said that they would definitely (67 percent) or probably (18 percent) recommend their agent for future services.

Sixty-two percent of sellers were “very satisfied” with the selling process; 26 percent were somewhat satisfied. Only 13 percent were dissatisfied with the process.

Key Skills Sellers Want in Their Agents
Sellers place high priority on the following five tasks: market the home to potential buyers (21 percent); sell the home within a specific timeframe (20 percent); price the home competitively (18 percent); find a buyer for home (15 percent); and help fix the home to sell better (15 percent).

The reputation of the real estate agent was by far the most important factor when sellers selected an agent to sell their home (34 percent). Sellers also place value on the agent’s trustworthiness and honesty (18 percent) and whether the agent is a friend or family member (16 percent).

FSBOs Are Decreasing
In 1981, FSBO home sales accounted for 15 percent of all sales, and agent-assisted sales accounted for 85 percent. FSBO sales have declined over time, and in 2017, FSBOs accounted for 8 percent of total home sales again for the third year in a row. This is the lowest share since data collection began.

FSBOs typically sell for less than the selling price of other homes. For FSBO sellers, those who know the buyer tend to have higher median household incomes compared to those who did not know the buyer. Where FSBO sellers knew the buyer, the time on market for the home was usually a week, and sellers received 100 percent of the asking price.

To learn much more about sellers and seller representation overall, please consider checking out the education, benefits, and resources offered by CRD and its SRS Designation. In July, the featured 25% OFF course at the Center for REALTOR® Development is the Seller Representative Specialist (SRS) Designation Course, which is the basic requirement toward obtaining this credential.

For more information about other courses and programs, please visit the online learning portal from NAR’s Center for REALTOR® Development (CRD) and the Learning Library. Here, real estate professionals can sign up for online professional development courses, industry designations, certifications, CE credits, Code of Ethics programs and more. NAR’s CRD also offers monthly specials and important education updates. New users will need to register for an account.




Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.







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Real Estate Industry and the New Normal

Real Estate Industry and the "New Normal"

This month’s National Association of REALTORS® (NAR) Power Broker Roundtable discusses the evolution of the industry’s “new normal.”

 MODERATOR: ​​​Christina Pappas, District Sales Manager, The Keyes Company, Miami, Fla.; Liaison for Large Firms & Industry Relations, NAR

 PANELIST: Sherry Chris, CEO, Better Homes and Gardens Real Estate, Madison, N.J.

 PANELIST: Joan Docktor, President, Berkshire Hathaway Home Services Fox & Roach, REALTORS®, Devon, Pa.

 PANELIST: Long Doan, CEO, Co-Founder, Realty Group MN, Coon Rapids, Minn.
________________________________________________________________________________________

Christina Pappas: Everything old is new again. The saying comes from the lyrics of a Peter Allen song originated nearly 40 years ago, but the words were never truer than they are today, especially in the real estate industry, which has changed and reinvented itself over and over since the term “REALTOR®” was first coined way back in 1916.

So what exactly is traditional real estate? Is it relevant in today’s world? What do we mean by “the new normal”—and where is the industry heading? For answers—and some very well-informed interpretations—we’ll be speaking with three industry leaders who are positioned on the forefront of change. Sherry, you’ve been a real estate innovator through several cycles of change. What do you see as today’s new normal?

Sherry Chris: Well, I can’t go back to 1916, but I have been around long enough to see how the industry has turned upside down with the advent of modern technology. In the early days of technology application, consumers would search our websites on their own and perhaps eventually call an agent. Today, we can give our agents the edge through the use of predictive modeling. We can use Smart Bots. We can match up artificial intelligence (AI) with a treasure trove of deep, rich data to determine the habits and patterns of potential buyers and sellers, so that the agent can be the first to reach out with exactly what that consumer is looking for. That’s the direction we are taking, and we’re investing heavily in the effort. But to speak to your “everything old is new again” reference, Christina, the truth is that regardless of the impact technology is making, the agent was, is, and should be the trusted advisor at the center of every transaction.

Joan Docktor: I agree. Today’s new normal combines the best of traditional real estate—that is, building relationships and giving every consumer the best possible buying or selling experience—with everything that technology can offer to accommodate and advance those goals. We are using AI to make our agent CRMs smarter—to give our agents more and better information and to keep them front and center with consumers. We’re also in the process of developing Chat Bots, or Smart Bots, to reside online and answer consumer questions 24/7—and, more important, to connect online searchers with knowledgeable, live agents.

Long Doan: Of course, technology has dramatically changed the way real estate is practiced today, but that’s only one piece of the puzzle. In my new normal, keeping the agent front and center means more than providing tools; it means creating an environment where the broker works for the agent, and not the other way around. Our goal is to provide a business platform that includes technology, as well as marketing support and coaching, to help every agent become the CEO of his or her own business—and we are turning the traditional commission structure on its ear with a 100 percent commission and a flat fee. In my view, that’s the way to produce dedicated and competitive agents who perform at peak levels.

CP: There’s another way the industry is changing, and it has to do with physical footprint, both in terms of space and layout. Shrinking office space was a natural byproduct of the last industry slowdown, but what may have begun as an economic need is giving us a new-normal benefit. In our offices, for example, cubicles are becoming a thing of the past in favor of open spaces—almost like a Starbucks atmosphere—that are flexible and that definitely create a more congenial business setting.

LD: I think that back when cell phones went viral, and everybody became mobile, many agents seemed to want to skip the office in favor of working from home. But now, agents are coming back because they miss that interaction. Part of my approach is making the office environment so valuable, so compelling in terms of support, sharing and mentoring, that agents want to be there whenever they’re not out selling real estate.

JD: That’s a good thing, because real estate is first and foremost a people business, both in terms of office culture and in building client relationships. But as more business is transacted online, the new normal also means we need to be more focused than ever on security. Hackers become more wily every day, and many consumers don’t realize just how vulnerable they are. As brokers, we need to have two-step email authentications and other online security measures in place to help keep consumer information and all our data as safe and secure as possible.

SC: And yet all of that is in the background, as far as consumers are concerned—security, data-mining, even Smart Bots. All most consumers want to know—even millennials, who are the most tech-savvy and who make up the largest segment of homebuyers today—when the rubber meets the road is that their agent is there for them, face-to-face, throughout every phase of their transaction. In that way, traditional real estate hasn’t changed…and I doubt that it ever will.



For more information, please visit www.nar.realtor.





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5 Tips for Small Business Owners

5 Tips for Small Business Owners

RECBL - Real Estate News

So you are now a bonafide small business owner?

When it comes to being a small business owner, there are no shortages of areas to focus.​

Whether you’re a brand new entrepreneur, or a small biz veteran, updating your business best practices can help you stay current, and competitive.

According to Massachusetts Mutual Life Insurance Company (MassMutual), these five tips can help today’s small business owners:

1. Connect with experts. Surround yourself with trusted advisors who have expertise and experience in succeeding the way you define success. Surprisingly, nearly 3 out of 5 (58 percent) small business owners in MassMutuals research turn to their spouse as their trusted advisor for financial and business advice. While this is a positive sign, business owners should look to expand their pool of trusted resources beyond their spouse for diversity of expertise and experience.

2. Succession Plan. Know who your successor is - and prepare accordingly. This includes telling them! The good news is that 2 out of 3 (64 percent) business owners have a succession plan in place for their business- however, 1 out of 4 (25 percent) in line to take over a small business aren’t aware they are the chosen successor. Furthermore, nearly 3 out of 5 (58 percent) family-owned business owners intend to divide business assets up equally among all their children regardless of a child’s involvement in the business. This opens the door to a potentially difficult yet necessary conversation.

3. Understand your value. Know the true value of your business. Nearly two out of three (63 percent) say they’ve had their businesses valued in the last three years. However, 1 out of 4 (25 percent) valued their businesses themselves, which may lead to unsubstantiated valuations.

4. Diversify. Do not put all of your eggs in one basket. While nearly two out of three (64 percent) say their business is their largest asset, this doesn’t mean it should be their "everything." MassMutuals research found that 1 out of 3 small business owners have no assets for retirement outside of the business - and 1 out of 4 (25 percent) said they would have to liquidate assets (business or personal) to meet any tax or fee obligations in the settlement of their estates.

5. Personnel management. Take care of your key employees. Employee loyalty spiked as top of mind for more than half (54 percent) of the business owners in MassMutuals research. Health care, flexible work arrangements and generous salaries topped the list of benefits offered to all employees. However, 1 out of 3 (30 percent) do not offer any special benefits to those they consider key to the success of the business.

Source: MassMutual


Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.

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White-Boxing: Stripping luxury homes

White-Boxing: Stripping luxury homes

RECBL - Real Estate News

Thirty-two stories above West Hollywood, California, there is a big, empty space. A sweeping, 7,000-square-foot penthouse in the storied, iconic Sierra Towers that has been stripped down to the bare concrete bones. Listed at $58 million, with sweeping 360-degree terrace views of Los Angeles, the fact that it is empty apparently makes it more valuable.

The new strategy, which is becoming increasingly popular in luxury real estate markets like New York and Los Angeles, is called "white-boxing." Strip out all the finishings, all the amenities, even the highest of the high-end kitchens and baths, and then you can charge more for the space.

"A lot of times people will buy something, totally done, beautiful and they'll still rip everything out and start over, so this trend is more, buy it, do whatever you want to do and you don't have to pay to rip out someone else's design," said Jade Mills, with Coldwell Banker of Beverly Hills. "This is much more valuable than buying something and having to rip everything out."

Not only does it save the buyer time and money, but Mills says it actually makes buyers feel better about the tear out, which they all know is not exactly environmentally sound. They may know they're wasting what was already there, but it's already been done, so they don't have to see that. It's tabula rasa real estate at its finest.

"White-boxing is really just having a blank canvas. So you can walk in, you just see the walls, you see the interior space, but you can do whatever you want to that space" said Mills.

​It can make an older property seem new. And regardless of how iconic the building – Sierra Towers has had residents from Cher to Elton John — high-end buyers want to put their own stamp on whatever they buy.

"There is no appetite for 'off-the-rack' with this demographic; it's all about uber-customization," added Josh Greer of Hilton & Hyland, who just began marketing the full-floor penthouse with Mills. "As recently as a few years ago, it would be relatively rare for a seller to go to market with unfinished luxury space, but now there's increasing recognition that 'designer-ready' is exceedingly more attractive than 'move-in ready' to the ultra-wealthy."

And more attractive to the architects and designers who will be working on the projects.

​​"For us to take a white box and design like this, it's much easier because you get to bring the client here and really breathe the space," said Los Angeles architect Gavin Brodin. "A property is definitely more valuable stripped out."

Brodin said it is also easier to create computer-generated images, virtual renderings of potential designs, when the space is empty. He came up with some potential designs for the Sierra penthouse, so the seller can offer buyers ideas — something to look at beyond the view. He says no matter how high-end the home, most clients will rip out everything inside.

"That happens to us on nine out of 10 projects," Brodin said.

Because when you're paying $58 million or more for your new home, it's not perfect until it's personal.





Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.

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Blockchain Integration For Major Property Portals

Blockchain Integration For Major Property Portals

RECBL - Real Estate News

CryptoProperties LLC – or “CPROP” for short – is aiming to deliver “unprecedented levels of trust and transparency” in the sector by removing “unclear and disjointed processes” that generate anxiety and frustration for buyers and sellers alike, such as repetitive paperwork that lead to unexpected delays and costs.

At present, the company claims paper-driven, offline closing processes are the norm worldwide. These “inefficiencies” can cause delays and in some cases, cause transactions to fail altogether.

CPROP plans its plug-and-play platform will be used by leading property portals and brokerages websites, with users guided through every step of buying a new home.

Blockchain technology will be used at key points in the process, such as when buyers are usually required to “hold” a property with a good faith deposit during the due diligence phase. CPROP says its platform would use smart contracts to establish an escrow – providing users with “maximum protection and peace of mind.” Blockchain would also be used to authenticate documents generated during a transaction, including deed-related records to provide a back-up to government property registries.

CPROP will also offer a feature called Critical Path, which enables all parties involved in a transaction to focus on tasks that need to be completed so a deal can be closed “in the shortest period of time.”

“Ideal marriage of convenience”

When prospective homebuyers are perusing a property portal, they would be given the opportunity to start using CPROP’s service through a “Help Me Buy This Property” button. This leads them to a free onboarding process where they will be given the option to select user-rated service providers such real estate agents and lawyers, with guides and FAQs providing information and assistance every step of the way.

CPROP says real estate agents also stand to benefit from its platform because it will be configured with standardized document templates appropriate for local jurisdictions and a user-friendly task management system. As a result, the company says these professionals will have more time to focus on the activities which generate the most revenue: acquiring new clients and listings.

Other providers such as contractors, inspectors, mortgage brokers and decorators could also gain an additional sales channel through CPROP – as favorable user reviews left for them on the platform would be used by remote and international buyers to find a trustworthy, local service. Overall, the platform will provide all service providers with a cost-efficient way to gain visibility to prospective buyers they would not normally be able to reach.

The company says its plan to establish partnerships with existing portals and brokerages could amount to an “ideal marriage of convenience.” While CPROP would benefit from portals’ existing web traffic and listings, these companies would retain their relationship with buyers through the closing, positioning for additional revenue opportunities while having the chance to “differentiate their brand with a practical blockchain offering.”

The company’s initial revenue would be generated through membership fees, which are paid for using the specially created CPROP token. Other potential revenue streams for the future include archiving and retrieving data, advertising, and administrative fees when property deals are closed.

Positive reviews for demo platform

CPROP says a recently launched demo website has been “enthusiastically received” by property portals and brokerages – with the platform’s development continually shaped based on feedback the company is given. Beta testing is planned with “multiple parties” this year, paving the way for a commercial rollout in 2019.

While its initial demo is designed for the US, where real estate transactions are “complex, legally intensive and costly,” the company believes its platform can be easily adapted to other markets – and “active discussions” are underway with property portals in Europe and Asia.

One of CPROP’s leaders, Adam Koehler, has enjoyed past success as a co-founder of Dotloop, another property tech company. That company automated real estate purchase agreements – and it was sold to Zillow, a “major world player,” in 2015.The company’s ICO is planned for May 21 to June 10.


​





Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.

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How to Use Social Media to Sell Homes

How to Use Social Media to Sell Homes

RECBL - Real Estate News

Rising interest rates, a nationwide inventory shortage and buyers out in full force this spring market-this is the current real estate climate most agents are doing business in.

Even with market challenges, agents also have to compete with each other, especially when it comes to open houses.

As April, Open House Month, winds down to a close, an agent can create a competitive edge by increasing open house visibility and attendance to convert more leads and sell faster.

Maintain Consistency
First and foremost, hosting open houses regularly every week will allow agents to become a household name within their community. Not only that, but constant face-to-face exposure to the general public will help them sell their listing faster, as open houses tend to be well attended this time of year. According to the National Association of REALTORS(R) (NAR) Profile of Home Buyers and Sellers, in 2015, 48 percent of buyers used an open house as a source in their home search process. On top of the traditional Sunday open houses, agents looking to stand out can also host on Saturdays-and for extended hours on both days.

Increase Online Marketing
Of course, attendance will be minimal without the correct approach to online marketing. Most buyers are beginning their search on the internet, and if an open house is not widely distributed throughout the most popular home search and social media sites-Zillow, Trulia, realtor.com(R), Homes.com, Facebook, Instagram, etc.-chances are, agents will not meet as many viable leads at the open house. According to the 2017 NAR Profile of Home Buyer and Sellers, 51 percent of buyers find their home via the internet.

Boost Sign Placement
Open house visibility should be augmented across the board, not just on the internet. Agents often can increase attendance-and, therefore, reduce time on the market-by promoting the open house thoroughly within the community itself. Setting up various open house signs throughout the neighborhood, especially on the corners of busy intersections, will not only attract buyers who are going to nearby open houses, but will bring in neighbors who may be looking to downsize or move up within the community, or may know of someone who wants to move into that specific neighborhood.

Obtain Contact Information
The goal of an open house is not only to sell the listing, but also to obtain buyer clients if they are not interested in purchasing that specific property. In order to pursue them as leads, agents will need to collect valid contact information. Todays modern age is setting expectations for swift technological advancement within the real estate industry, and buyers will more likely be impressed with an e-sign-in process via tablet rather than a paper form. With clients who may not have much experience with technology, this is an opportunity to assist them while also developing the relationship with them as a buyer lead.

Add Incentives
The No. 1 priority should be memorability. Adding incentives, such as a free vacation or an entry to a raffle, will make agents stand out from other open houses in the area. Doing this also increases their chances of obtaining valid contact information, which is essential to securing the lead as a future client.

Provide Refreshments
When it comes to food and drink, agents are divided. Some believe it is an added touch that buyers respond well to, while others say it introduces risk because of allergies; however, open houses typically run through lunch, and visitors will undoubtedly appreciate refreshments while they drive house to house for a few hours without pause. Baked goods do well with sweet-tooth visitors and children, and will also neutralize any odors if baked on-site. Themed food and drinks that relate to the current season or an approaching holiday are also a great way to engage visitors. To reduce liability, agents can offer a list of allergens before providing visitors with refreshments.

Set the Mood
If the home has a fireplace, agents can light it on cold and dreary days. This will warm up buyers and ensure they are relaxed when looking at the property. Additionally, adding light, relaxing music will help buyers feel at home. Agents should also ensure all lights are turned on and shades are pulled up to let sunlight in; this will open up rooms and make the home appear larger.

Prove Market Expertise
Lastly, and most importantly, agents need to prove they are knowledgeable about the market. Being able to provide pertinent neighborhood information-not only for their listing, but for those in the surrounding area within similar price points-will set them up as a community expert. Prospective buyers will also relate to the experience better, feeling as though they are receiving assistance rather than being pushed for business. According to REALTOR(R) Magazine, a broker in Denver, Colo., has had success in providing a giveaway map of the surrounding open houses for each Sunday.

Agents can also now rely on technology to obtain relevant information for potential buyers. There are various apps available for providing home valuations, neighborhood data and more. In addition, having a smart home speaker such as an Amazon Echo or Google Home on hand may help agents access this type of information hands-free, providing the opportunity for supplementary flyers, added eye contact, longer conversations and a solid lead by the end of the visit.



Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.

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REAL ESTATE CASH BUYER LEADS

REAL ESTATE CASH BUYER LEADS

Having trouble finding real estate cash buyers to flip your property? Stop searching or wasting your time and start contacting buyers.

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Check us out right NOW!

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Across All Buyers, Millennials Have the Most Purchases

Across All Buyers, Millennials Have the Most Purchases

RECBL - Real Estate News

In housing, generations intersect regularly. Who’s downsizing? Who’s driving the market? Who’s trading up?

What generation is impressing on the market most today? Millennials, according to the 2018 Home Buyer and Seller Generational Trends study, recently released by the National Association of REALTORS(R) (NAR). Millennials are accounting for 36 percent of purchases, ahead of baby boomers at 32 percent, Generation Xers at 26 percent, and the Silent Generation at 6 percent.

"REALTORS(R) throughout the country have noticed both the notable upturn in buyer interest from young adults over the past year, as well as mounting frustration once they begin actively searching for a home to buy," says Lawrence Yun, chief economist at NAR, of the study. "Prices keep rising for the limited number of listings on the market they can afford, which is creating stark competition, speedy price growth and the need to save more in order to buy. These challenging market conditions have caused-and will continue to cause-many aspiring millennial buyers to continue renting unless more Gen Xers decide to sell, and entry-level home construction picks up significantly."

Millennials are buying homes with higher values, but the same square footage: $220,000 for 1,800 square feet, versus last year’s $205,000 for the same size, reveals the study. They are close to family and friends, as well, and prefer to reside near them-an attribute in common with other generations.

"The sense of community and wanting friends and family nearby is a major factor for many homebuyers of all ages," Yun says. "Similar to Gen X buyers who have their parents living at home, millennial buyers with kids may seek the convenience of having family nearby to help raise their family."

Additionally, 52 percent of the millennials in the study have at least one child-an indicator of the likelihood of a move-and another 52 percent purchased in the suburbs. Eighty-five percent purchased a single-family; just 2 percent went with a condominium.

"While there is an overall trend among households young and old to migrate towards urban areas, the very low production of new condos means there are few affordable options for buyers, especially millennials," says Yun.

All generations enlisted a real estate professional for their transaction, according to the study. Ninety percent of millennials are most likely to purchase through a REALTOR(R), with 75 percent believing they can educate them about the process. Ninety percent of millennials are most likely to list with a REALTOR(R), as well, and at least 84 percent of every other generation partnered with a REALTOR(R).

"Especially in today’s fast-moving housing market, consumers of all ages want a REALTOR(R) to guide them through the exhilarating, yet nerve-wracking experience of buying or selling a home," says NAR President Elizabeth Mendenhall.

For more information, please visit www.nar.realtor.​



Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.




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5 Great Cities for Millennial Homebuyers

5 Great Cities for Millennial Homebuyers

RECBL - Real Estate News

(TNS)-For millennials who are ready to become homeowners, finding an affordable house in a great community can be challenging. With housing inventory historically low, real estate in major metro areas is at a premium. It’s no surprise, then, that young buyers are moving to the suburbs, according to the 2017 Home Buyer and Seller Generational Trends Report by the National Association of REALTORS(R).

Among millennials surveyed, 57 percent bought a house in the suburbs, spending an average of $205,000. Meanwhile, only 12 percent bought in an urban or central city. Affordability, convenience to work and neighborhood quality were among the top requirements for these buyers.

Using this information, we identified five cities that offer some combination of affordable housing, economic growth, job opportunities, proximity to major metro areas and recreational activities.

Great cities for millennial homebuyers:

• Lancaster, Pa.
• Columbus, Ohio
• Garner, N.C.
• St. Petersburg, Fla.
• West Des Moines, Iowa.

Lancaster, Pa.
Population: 59,218
Median value of housing: $109,300

One of the oldest inland cities in the country, Lancaster boasts unique features, such as the countrys oldest continuously running farmers market. It’s also home to an established arts community and a network of independently owned businesses.

There are a number of homes available in Lancaster, including new construction. There were 200 new housing units built in Lancaster in 2017. This year, the city is on track to add 125 more, according to Marshall Snively, president of Lancaster City Alliance.

"In the last 10 years, weve had more than $1.5 billion in public and private investment, including residential development, and more is on the table," Snively says.

Nestled between Harrisburg and Philadelphia, Lancaster is a good option for people who want to work in one of these larger cities but own in a more affordable location. Residents can take a train to Harrisburg in less than 35 minutes, and trains into New York City take about two-and-a-half hours.

Local businesses abound, so many residents don’t have to look beyond the city for jobs. Medical center Lancaster General Health has a network of 300 physicians and more than 3,600 employees. Fulton Bank, one of the region’s most prominent financial institutions, is headquartered in Lancaster.

The city has a strong arts culture, which supports a variety of vintage and antique stores, as well as outdoor markets and performing arts. Gallery Row downtown consists of three blocks of galleries, restaurants and retail.

Columbus, Ohio
Population: 860,090
Median value of housing: $131,800

You can own a home in Columbus without breaking the bank. Even in some of the more expensive neighborhoods, like Harrison West, you can find three-bedroom, two-bath homes for under $250,000.

Columbus supports many industries, including healthcare, education, finance, manufacturing, retail and technology. Columbus largest employer, the Ohio State University, has more than 30,000 full-time workers. Nationwide Insurance is also headquartered here, with about 13,000 full-time employees.

Columbus offers amenities for just about everyone. Kayakers can enjoy Columbus waterways, like Big Darby Creek, Griggs Reservoir and the Scioto River. There are also miles of bike trails and thousands of acres of parkland to hike.

Nightlife includes comedy clubs and live music venues, as well as hundreds of restaurants. Additionally, there are many large-scale attractions, like the Center of Science and Industry as well as the Columbus Zoo and Aquarium.

Garner, N.C.
Population: 28,776
Median value of housing: $164,800

This small town is about six miles south of Raleigh and is also near the Research Triangle, which includes Duke University, North Carolina State University and the University of North Carolina at Chapel Hill.

For people who work in any of these areas, Garner offers more affordable housing than some of the other nearby communities.

Garners business landscape is a mixture of information, utilities, retail and public administration. Companies like Butterball and Direct Distributors are headquartered in Garner. The median household income in Garner is $59,812, above the national median of $57,617, according to Census data.

Outdoor enthusiasts will appreciate Garners 1,200 acres of parkland and open space. White Deer Park offers bikers, runners and walkers two miles of paved trails, playgrounds, an arboretum and a 2,500-square-foot nature center.

Garner also has a mix of chain stores, shopping plazas and locally owned businesses. Local watering holes, like The Beerded Lady, offer a place for residents to see live music.

St. Petersburg, Fla.
Population: 260,999
Median value of housing: $154,800

St. Petersburg has rejuvenated its downtown, which is home to a mixture of business offices, residential property, restaurants and entertainment.

The Gulf Coast city boasts more than a dozen companies that employ over 1,000 people, including HSN, Raymond James Financial and Jabil Circuit, in addition to many other mid- and small-sized companies.

Mayor Rick Kriseman, who was just recently awarded the 2018 Small Business Advocate award by the U.S. Conference of Mayors for his commitment to small businesses, said that creating opportunities for young people is a top priority for St. Petersburg. The city’s Grow Smarter initiative developed by the city and the Chamber of Commerce to assess, develop and create programs to grow the local economy is an example of that focus.

"We are working hard to ensure we are an inclusive and welcoming city where people of all ages can grow and thrive," Kriseman says. "We are specifically aiming to bolster and support our population of young professionals, as their skills and interest align well with our Grow Smarter economic development strategy."

St. Petersburg is home to world-class museums, such as the Salvador Dali Museum and the Fine Arts Museum, as well as chefs honored with James Beard awards, including Lauren Macellaro of The Reading Room.

The city hosts events like the Firestone Grand Prix and is home to the Tampa Bay Rays baseball team.

West Des Moines, Iowa
Population: 64,560
Median value of housing: $195,500

West Des Moines borders Des Moines to the west, about eight miles from Des Moines International Airport. This small city reaps the benefits of the booming financial and publishing industries in Des Moines while retaining a grass-roots community.

"What we’re seeing is that a lot of young people are buying in our older neighborhoods," says Clyde Evans, director of Economic Development for West Des Moines. "They’re fixing up houses from the 60s, 70s and 80s. Its affordable for them to do that here."

Finance and insurance companies, including Wells Fargo, Farm Bureau and Athene, are located in West Des Moines. Small businesses also make up a large part of West Des Moines economy, adding to the 2,800 businesses in the city, according to the West Des Moines Chamber of Commerce. West Des Moines is only 11 miles east of Waukee, the future home of Apples $1.375 billion data center announced last year.

West Des Moines has a variety of restaurants and shopping destinations, including Jordan Creek Town Center and Valley West Mall. There are also microbreweries for beer connoisseurs, like locally owned Twisted Vine.

The 632-acre Raccoon River State Park offers an array of activities like fishing, boating and even swimming along the 500-foot beach, which is part of Blue Heron Lake. There’s also an extensive network of almost 50 miles of greenway trails, park trails and side paths.

(C)2018 Bankrate.com
Distributed by Tribune Content Agency, LLC





Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.







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