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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Low Inventory, Rising Rates and a Bustling Spring Market

Low Inventory, Rising Rates and a Bustling Spring Market

RECBL - Real Estate News

Spring is here, and, with it, a busy home-buying and -selling season. While real estate markets can vary widely by region, housing is currently seeing similar developments across the country.

The Kiplinger Letter, an online source for personal finance advice and business forecasts, recently shared spring market trends. According to Kiplingers David Payne, staff economist, and Rodrigo Sermeño, reporter, REALTORS(R) can expect tight inventory, increased buyer competition and a rise in interest rates across the board this spring.

The biggest obstacle? Not enough homes, particularly in heavily-populated areas and others that are growing quickly.

"Buyers should expect tight inventory of existing homes across the nation, particularly in fast-growing metro areas such as Denver, Dallas, Seattle and Portland-but also most major metros in the West and in the South," say Payne and Sermeño.

Buyers are out in full-force, and with less inventory to choose from, they are flocking to any available homes in their price point and submitting aggressive bids.

"Buyers should expect more competition for entry-level homes, both existing and new," Payne and Sermeño say. "Tight inventories of existing homes will likely lead to bidding wars in many markets."

What the industry sorely needs right now is new construction, and that’s where the South is prospering.

"The South is seeing strong growth in residential construction, including starter homes," say Payne and Sermeño. "Builders are gradually adding entry-level homes in certain markets in the South, such as Dallas, Phoenix and Atlanta. Some builders are focusing on peripheral areas around these cities, where it is cheaper for them to build entry-level homes."

According to The Kiplinger Letter, buyers in the South and West can expect new homes on the market later this year, especially duplexes and townhomes; however, new-construction growth is generally slow across the U.S. due to high costs and insufficient land to build.

"Builders will continue to gradually bring starter homes to the market, but the rising cost of labor and building materials will make it difficult," Payne and Sermeño say.

While skyrocketing prices have been a concern with tight inventory, REALTORS(R) can breathe a small sigh of relief, as growing home prices seem to be slowing down, if only slightly, for the foreseeable future.

"Home price growth will slow a bit, to 5 percent from 6.5 percent last year," say Payne and Sermeño. "Price appreciation has been strong for a while, and some areas are seeing demand hurt by affordability problems, especially for high-end homes; however, the slowdown this year will only be modest because of continuing lack of inventory, especially at the low-to-middle price ranges."

REALTORS(R) are watching the market closely, as one factor could change the status of todays market. Rising interest rates are homebuyers biggest concern, and contributing to this springs flurry of home-buying activity.

"The prospective rise in interest rates this year and next is actually boosting buyer demand to purchase before rates rise further, according to REALTOR(R) surveys," Payne and Sermeño say. "Next year, once it appears that mortgage rates will be stabilizing, then the higher rates will have a somewhat depressive effect on prices and demand."​


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





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Pioneering Agent Tackles Intricacies of Team Building

Pioneering Agent Tackles Intricacies of Team Building

RECBL - Real Estate News

Team structures are becoming an attracting force for some brokerages, and are gaining traction throughout the real estate industry. The reality is that 10 percent of real estate agents nationwide are making around $22,000 per year, while 25 percent are making around $29,000 and 50 percent are making around $44,000, according to the May 2016 Occupational Employment and Wages Report by the U.S. Bureau of Labor Statistics. Agents are jumping at opportunities to form a power group that can be more successful than the average solo real estate agent.

Real estate professional Melissa Crockett Willis shared her insights on team building at this year’s National Association of REALTORS(R) (NAR) REALTORS(R) Conference & Expo in Chicago, Ill. Crockett Willis has been in the real estate industry for 30 years and was a pioneer of the team structure. She developed her team in the early 90s and taught team training and system implementations through STAR POWER University. In 2007, she joined the management team of a regional leader in Cleveland, Ohio. Here’s what she had to say:

Considering a Team Structure
Before agents decide to pursue the team route, Crockett Willis suggested they think about the difference between an entrepreneurial agent (where they are responsible for themselves), a partnership (where a partner is needed for delegation purposes to enjoy more free time) and a real estate team (which she calls a game changer because agents are responsible for all team members and not just themselves).

Additionally, agents need to understand that forming a team entails delving into business building.

"A lot of times when you look at teams that don’t succeed, it’s because they haven’t been a student of the business long enough," said Crockett Willis, emphasizing that agents must first educate themselves on the business aspect and not just the real estate aspect before hiring team members. Crockett Willis also suggested that agents step back and think about the following questions:

• Why are you thinking of forming a team?
• Do you just need to create more systems?
• Do you need administrative help?
• Have you mastered the basics yourself?
• Do you like teaching and leading?
• Have you listed and sold enough business by yourself?
• Do you want the responsibility of a team?
• Do you know how to run a business?

Once committed to the team structure, agents should be able to clearly visualize what they want their team to become. They should also create a mission statement that inspires others to take action, as well as focuses on the present and what the organization will accomplish. A successful team leader should be able to distinguish between their role (what they do) and their identity (who they are).

When the ideals are set in stone, Crockett Willis said the next steps are creating a strategy with systems and forming a business plan, which should constantly evolve. "The most successful teams do not over-complicate the business," said Crockett Willis, declaring that no matter what systems are put in place, they should always be simple.

Hiring for a Team
While hiring can seem simple, its undoubtedly the most intensive part of the team-forming process and shouldn’t be taken lightly. Crockett Willis recommended that agents narrow down what type of assistance they need before beginning the hiring process. Agents should ask themselves: Do I need an administrative assistant in order to spend more time with clients, or will I handle secretarial work while someone else takes out buyers to free up time?

Once the positions are clearly defined and are posted on job search platforms, agents should hire slowly to make sure they have the right person for their team. According to Crockett Willis, if the wrong fit is hired, always fire quickly or rearrange duties to make use of everyone’s strongest skill sets.

Crockett Willis said the quality of the interview questions asked should match the quality of the answers they would like to receive. In addition, agents should place prospective employees in an interview position that matches their role. If they’re going to be an admin that makes a lot of phone calls, start with a phone interview to gauge their skills. If they’re managing the front desk, what impression do they make during first interactions?

According to Crockett Willis, candidates can be broken down into two categories: farm animals and jungle animals. She reminded agents that most people fall under these two segments, and they should decide which one would be more successful in the open position. Are they looking for someone who can be aggressive and self-sufficient, or do they want someone who can be shy but is patient and focused?

Working With A Team
Once positions are filled and the business is ready to move forward, agents should focus on being a leader that welcomes risks, instead of a manager who needs balance and sees problems rather than opportunities. Most importantly, leaders must learn how to delegate and communicate in order to have a successful team.

Team members that are constantly involved and are frequently asked for feedback, tend to have a stronger sense of loyalty to the business. Leading agents must remember to elevate team members, one step at a time to show them how valuable they are.

Having a Successful Team
Success never has an ending. Crockett Willis reminded agents to always celebrate success, no matter how small. This also applies to learning new ways to build up the team. "Agents should be a sponge for knowledge," she added.

If the implemented systems aren’t working as planned, agents should always have an exit strategy. It’s a trial and error process and not everything will run smoothly during the first go-around. Crockett Willis told agents that they are their biggest competitors. If they can get past their own obstacles, they will be successful.

And lastly, agents should enjoy the journey they are on with their team.

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

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Tips to Help Market Yourself

Tips to Help Market Yourself

RECBL - Real Estate News

Marketing is the action or business of promoting and selling products or services. When it comes to real estate there is no shortage of products or services to market.

If you’re like many real estate professionals, you can market properties with surprising ease, but may have difficulty when it comes to marketing yourself.

Even if it’s not something you particularly enjoy, marketing yourself and your services is a necessary part of helping your business grow and being in the real estate business marketing yourself is essential.

Whether you’re a new real estate professional or a veteran agent, here are some "Marketing Yourself 101" tips and reminders that you may find helpful:

• Brag a little in your marketing materials. Potential clients want to know what you’ve accomplished and what your professional strengths are. Were your sales figures last year commendable? List them in your marketing materials. Have you won professional awards over the years? Don’t be shy about sharing them. Were you recognized in the community for volunteer efforts or generosity? Be sure to include that information, too.

• If you have trouble writing about yourself, ask colleagues and clients who know you well to describe you. Then, consider using those words in your marketing pieces. Sometimes the people who’ve seen you in action recognize things that you don’t necessarily see in yourself.

• Find your niche. Do you enjoy working with first-time homebuyers? Is there a particular part of town that you know extremely well? Do you have a lot of experience with corporate relocations? If so, make sure your materials reflect your experience with these business segments.

• Update your marketing materials regularly. If you’ve been using the same resources for more than a year or two, it’s probably time to refresh them. Include any new sales data, accomplishments, or professional descriptions. Make sure your contact information is accurate. Have new professional photographs made, and include those. 

• Don’t be afraid to share some personal information. While your marketing pieces should be professional and focus mostly on your business acumen, remember that your goal is to form relationships with your clients. Divulging a little bit about your family life, hobbies, or interests can give potential clients a glimpse about who you are as a person as well as add a little warmth to your communications.

• Consider using testimonials. Ask permission from long-term or favorite clients to share some statements about working with you.

Remember, there are many other ways to promote you in addition to marketing collateral and social media.

• Be involved in your community.

• Volunteer your time at community and charity events.

• Sponsor a Little League team or buy an ad in a local sports team or arts program.

• Socialize often and actively look for ways to meet new people.

• Join your area alumni association, be active in your children’s schools, and participate in neighborhood associations.

The more people you meet and the more you get your name out, the more connections you will make that may lead to new business opportunities.

Source: HSA Home Warranty

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5 Steps to Finding Your Best Mortgage Lender

5 Steps to Finding Your Best Mortgage Lender

RECBL - Real Estate News

(TNS)-You’re buying a home and you need a mortgage. How do you choose the right lender-one that will offer not only the best deal, but also good customer service?
You’ll find no shortage of banks, online lenders, mortgage brokers and other players eager to take your loan application. Here are five tips for selecting the best mortgage lender out of the bunch.

1. Compare Offers and Lenders
Start getting familiar with various lenders and the deals they’re offering by browsing through mortgage rates.

Lenders will "present price differently," notes Robert Davis, an executive vice president at the American Bankers Association (ABA). "Some lower rates might include fees with it, so the annual percentage rate is different than what you might think."

Also, understand that some lenders specialize. One might be a good choice if you’re financing a condo, while others might offer a better deal if you’re building your home from scratch. You’ll want to have a general idea of the type of property you’re interested in.

2. Check With Lenders and People You Know
You might find the right mortgage and the best lender without having to look very far. Go to the bank or credit union where you have a checking or savings account and ask about the types of mortgage deals that are available to current customers.

Compare any offer against what other lenders in your area and online and large national lenders will give you.

"Interest rates change as much as three or four times a day, so get quotes from three different (lenders) to increase your odds," says Brian Koss, executive vice president of Mortgage Network.

Be sure to ask family members and friends for referrals to loan officers and mortgage brokers who gave them good, professional service and helped them find the most competitive loans.

3. Decide: DIY or Hire a Broker?
One important decision is whether to seek out a mortgage and lender completely on your own or use the services of a mortgage broker.

A broker can help with your comparison-shopping by gathering quotes from several lenders, but it’s important to understand that a broker isn’t obligated to find the deal that’s best for you.

If you decide to work with a mortgage broker, it’s wise to look at how the loan offers from the broker size up against those you find on your own.

Look at differences in rates, fees, mortgage insurance and down payments-and compare what your bottom-line costs will be.

4. Talk With Your Real Estate Agent
Be sure to ask your real estate agent for lender recommendations. Smart loan officers rely on that business and take good care of the clients sent their way by local real estate agents.

Keep in mind that agents might have relationships with certain lenders, so when your agent gives you a name, ask whether there is any affiliation.

While some real estate brokerages have their own favored in-house mortgage lending businesses, good agents will not limit their referrals to those particular lenders.

5. Be Ready for a Possible Hand-Off
Many lenders will end up selling your mortgage to the secondary market, which means you will likely have a different company servicing your loan than your original lender.

This transfer is often outside your control, but you can ask the lender whether it knows if your mortgage will end up being serviced by a different company. If you want a lender you can reach out to immediately if problems arise, finding one who will hold onto your mortgage might be the best option.

"If it’s important for you to have local contact with the lender, then you’ve got to go to a bank that keeps your mortgage," says Davis.

(C)2017 Bankrate.com
Distributed by Tribune Content Agency, LLC

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Disappointing Appraisal? Steps to Take

Disappointing Appraisal? Steps to Take

RECBL - Real Estate News

Appraisal disappointing? You have options, according to the Appraisal Institute.

"Homebuyers and sellers should first understand what an appraisal is and how it’s used," says Jim Amorin, president and acting CEO of the Appraisal Institute. "Real estate appraisals for mortgage finance applications are prepared for the bank or financial institution so they can better understand the collateral risk in making the loan. This can be confusing, because homebuyers typically pay for the appraisal and receive a copy of it."

​In some cases, the appraisal may not match the contract price-but just because an appraisal comes in below (or above) the listing or contract price doesn’t mean it’s flawed, Amorin says.

The agreed-upon contract price may be above market value, for example. In those situations, the buyer and seller often renegotiate the contract at more favorable or balanced terms.

Homebuyers should ask their lender for the qualifications of the appraiser, including whether they are designated by a professional association like the Appraisal Institute, says Amorin. A qualified and competent appraiser knows how to conduct a thorough market analysis and make appropriate adjustments.

Homebuyers also can ask whether the appraiser is directly engaged by the bank or whether the bank utilizes an appraisal management company, and what their procedures are for engaging qualified appraisers.

"The best way for consumers to combat potential problems with appraisals is to ensure the appraiser hired by their lender is highly qualified and competent," Amorin says. "Consumers have every right to demand the use of a highly qualified appraiser, someone with field experience in their market and knowledge and experience to handle the assignment properly."

Contrary to incorrect interpretations of appraiser independence requirements, appraisers welcome information that would assist the development of credible assignment results," says Amorin. If lender policies permit, consumers can accompany appraisers when conducting the property inspection and may provide the appraiser with any information they consider important.

Amorin suggests consumers ask their lender for permission to do so, and confirm the appointment. Consumers should also take note of whether an adequate inspection is performed. Did the appraiser spend enough time at the property to observe important features or improvements or potential problems?

Homebuyers should take advantage of their right to obtain a copy of the appraisal report," Amorin says. Even though the appraisal is ordered to help assess lender collateral risk, buyers are entitled to a copy of the appraisal report. Federal regulations require lenders to provide property buyers with free copies of appraisal reports no later than three days before the loan closes.

Although appraisal review is best performed by qualified appraisers, consumers should examine the appraisal for potential deficiencies, says Amorin. According to "Appraising the Appraisal: The Art of Appraisal Review," common errors in appraisals include: misuse of adjustments to comparables; disregarding special financing and concessions; or miscalculation of gross living area (GLA).

Amorin suggests consumers ask themselves:

• Do adjacent homes add or detract from the value of the subject property?
• Is the subject property equal to or lower in price than surrounding homes?
• Does the floor plan have any functional problems?
• Does the house (particularly the kitchen and bathrooms) require major remodeling to make it comparable with similar homes in the same price range?
• Is the number of bedrooms and baths in the home comparable to similar homes in the same price range?
• Did the appraiser perform an adequate inspection?

"Most lenders have appraisal appeal procedures, known as Reconsiderations of Value," says Amorin. "If you’re aware of recent, comparable sales information or items that may not have been available or considered by the appraiser, provide those to the lender. If problems were found with the first appraisal, you can and should obtain a second appraisal."

Source: Appraisal Institute

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Inside the Mindset of Gen X Buyers

Inside the Mindset of Gen X Buyers

RECBL - Real Estate News

Not to be overshadowed by the recent focus on millennial and boomer homebuyers, Generation Xers are making something of a buying comeback in today’s real estate market. Here’s why this trend is significant.

Members of Generation X (ages 37-51) have been somewhat sidelined when it comes to coverage of the social and financial impacts of the different generations. But recent studies are finding that those who came of age in the 80s and 90s represent a higher percentage of new homebuyers than in years past and are gaining a noted foothold in the real estate market.

Coming of age in the real estate market
According to industry sources, millennials are the generation buying the largest share of property at 35 percent.

Following right behind, however, are members of Gen X, accounting for 28 percent of home purchases-up from 26 percent last year.

Forbes reports that the increase in home purchases by Generation X is especially significant in that this sector has the highest average amount of student debt among the generations-$30,000-compared to an average balance of $25,000 for millennials. Industry sources also report student loans are a contributing factor as to why Gen Xers delay buying a home longer than their millennial counterparts.

What are they looking for?
According to industry sources, the following factors might influence the real estate comeback among Gen Xers. These factors may also help determine the kinds of homes these buyers are looking for.

Members of Gen X are typically:

• In their peak earning years
• The generation making the most money, with a median annual income of $106,600
• More likely to have families
• The largest generation with kids still living at home

While they may have taken longer to purchase homes, the generation in between the famed boomers and millennials is on its way to a real estate comeback. With more income and more children living at home, Generation X may be looking for bigger homes at a higher price point to accommodate their family and lifestyle needs.

Although millennials and boomers continue to generate coverage as buyers and sellers in the real estate market, the middle generation, Gen X, is coming into its own and is at its peak as more members join the ranks of American homeowners.

Source: HSA Home Warranty

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5 Benefits to Having a Stager on Your Team

5 Benefits to Having a Stager on Your Team

RECBL - Real Estate News

The following information is provided by the Center for REALTOR(R) Development, with assistance from Lauren Hampton and the Podfly editorial team.

In episode 7 of the Center for REALTOR(R) Development Podcast, Monica Neubauer has a great conversation about home staging with Helen Bartlett of Kansas City Home Stagers.

Bartlett is a national award-winning home stager and home stylist who’s been staging homes in the metro Kanas City area in both Kansas and Missouri since 2011.

She has been recognized by Houzz with multiple service awards and "Influencer" and "Recommended" badges on her professional profile. Bartlett has also been named as one of the "Top 200 Influencers in the Home Design Industry for 2017," and recently co-authored a book, "Home Staging: The Power That Sells Real Estate."

As a REALTOR(R), having a stager as part of your team can be beneficial for both you and the seller. You will be appealing as an agent if staging is something you can offer your seller, and the stager can also help to share their best advice for the sellers, and that can help preserve the relationship between seller and REALTOR(R). Home stagers are on the same team as the real estate agent, because it’s about making a successful transaction for the REALTOR(R) and the homeowners. Below are five ways that having a stager on your extended client team can be a huge bonus:

1. A stager can provide a general staging consultation. Everyone selling their home should at least have a stager consultation. Something as brief as an hour-long consultation could lead to value in the thousands of dollars and runs at a reasonable rate. For REALTORS(R), you can make a consultation part of your business model, especially if you don’t particularly have an eye for decorating.

2. A stager can help you "edit" current furnishings. When a professional stager comes into a house that’s occupied and needs attention, one of the easier ways to highlight a home is to "edit" existing pieces of the house and de-clutter the house of things that can make the space feel outdated. Painting and updating the light fixtures are two of the least expensive ways to make a home seem relevant. These types of updates can make a home feel move-in ready, and when a home feels move-in ready for a buyer, they are willing to pay more.

3. A stager can help prospective buyers connect emotionally with a property. Home staging is more than just decorating. The difference between the two is a house versus a lifestyle. Staging allows the buyer to focus on the house and their emotional and psychological connection to it. It is especially important to stage a vacant house because when there’s nothing else to look at, the buyer may start to focus on the negative things. Once a buyer is connected to a house, they are willing to pay more for it, and a staged house may sell more quickly.

4. A stager can help you sell the property more quickly. Home staging is preparing your house to go on the market so that it sells quickly and gets the highest dollar by appealing to the most number of people. Some examples of staging are painting, cleaning, making repairs, or updating your home. The goal is to create a warm and welcoming house that will capture a buyer’s attention. Buyers want to see how they can live in that house.

5. A stager can help the seller sell their property for more. Staging usually costs anywhere from 0.5 percent to 3 percent of the list price, depending on where you are in the country. Typically, a staged home will net anywhere from 7 percent to 10 percent more than an un-staged home, which will likely more than cover the staging cost. The home will also likely sell more quickly, which will save you money on holding costs. Every home can benefit from some level of staging. Though it is a sellers market in many places in the country right now, with a little bit of staging, you can get multiple offers, or even over asking price.

Sometimes it can be hard for a homeowner to have a home stager come into their home and tell them the things they should change. Remind your clients that it’s important to keep an open mind, because, in the long run, it’s a service that will help them, and everyone else involved in the transaction. Everyone benefits from successful staging- the seller benefits from a quick sale at top dollar; the buyer benefits because they’re excited about making the space work for their lifestyle; and the real estate agent benefits from the referral business that could come from the successful transaction.

For much more about staging, check out the complete recording of episode 7 (as well as all the others that have been recorded up to now) at the podcast web site at CRDpodcast.com. The links at the top of the page will lead you to the different audio marketplaces where you can subscribe to the podcast: iTunes, Android, Stitcher, TuneIn, GooglePlay-whichever of these you prefer to use for your podcast consumption.

Our monthly podcast focuses on education in the real estate industry. It addresses formal education programs (such as those from NAR) and informal sources of industry knowledge (such as peers and mentors). It’s intended audiences include REALTORS(R), real estate professionals, allied professions (such as appraisers and lenders), educators, education providers, and consumers. To listen or subscribe, visit www.crdpodcast.com.

For more information about our online courses and products for REALTORS(R) and real estate professionals, please visit onlinelearning.realtor.

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You make the call!

You make the call!

Rick Geha began his real estate career at age 22, and has been selling for over 36 years and has run, managed or owned real estate offices for the past 23 years. His love of people and mentoring their passions has led him to a successful career as a speaker, trainer and coach.

As I have ventured through my 37-plus years as a real estate agent, I have to smile at the fears that kept me from creating more, in less time.

By my 13th year in the business, I had started coaching, speaking and training, yet I was still a student of the business. I would teach a class and attend three other classes. What I found is that many others thought the way I did, had similar fears, and had the same limiting beliefs.

Real estate people-in fact salespeople of all kinds-don’t seem to like doing the most basic thing that will get them more sales. The single basic thing most salespeople don’t do; talking to people. I’m sure a good 80 percent or more of you will identify with that sentiment.

In 2005, I was told to take a good look at the 2,700 names in my database, then asked a serious question: "Rick, when was the last time you actually spoke to those people?" The question paralyzed me. It had been a while.

So, I began the task of calling, emailing and doing all I could to reach each and every single one of those people. It was exhilarating and heartbreaking, all at the same time. Over 1,200 of them had bought or sold something without me, as I had done nothing other than send them a magnetic 12-month calendar at the end of each year. Obviously, this wasn’t enough to keep them committed to me.

It was in that harsh moment of reality that I wrote an apology script, which I still share and use today. I was shocked at how willing I was to use it, in addition to how willing agents all over the U.S. and Canada were to use this script without hesitation. Why? Because at no point in the script do you actually ask for business.

The main point of the apology script is to apologize for having been out of touch for so long. You say it’s your fault, and to make sure it doesn’t happen ever again, you’re going to get down some important details and be in touch regularly. I start by getting their birthdays, their wedding anniversary, children’s names and ages, and, if you can find it online, the anniversary of the date they closed on their home. I also like to make sure I have the proper email and mailing address, home and cell phone numbers, and anything else to make a thorough file.

This script has helped me, and many others, more than I can relate. Remember: "Everything works, and nothing doesn’t!" Either way, start by talking to more people every day than you did today.

Over the past 15 years, he’s led more than 1,000 classes and workshops throughout the U.S. and Canada. He is currently a coach with Workman Success Systems. Contact him at Rick@RickGeha.com.

For more information, please visit www.workmansuccesssystems.com.

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Making a Year-Round Commitment to REALTOR(R) Safety

Making a Year-Round Commitment to REALTOR(R) Safety

RECBL - Real Estate News

Each September, the National Association of REALTORS(R) (NAR) observes REALTOR(R) Safety Month. This is an excellent opportunity for all REALTORS(R) to reflect on the importance of staying safe on the job, while embracing a commitment to follow good safety practices throughout the year.

Sadly, incidents involving the personal safety of real estate professionals continue to occur every day.

NAR has a number of resources to simplify and support your efforts. Several of NARs newest and most popular safety tools include:

REALTOR(R) Safety Webinars - Each April and September, NAR hosts a free webinar for members. This September, in conjunction with REALTOR(R) Safety Month, the commitment to spread the word on safety has been expanded to include two programs with safety experts exploring timely topics:

Safety: Do This Now
Presented by: Andy Tolbert
When: Wednesday, September 20 at 1:00 p.m. CST

Stay Safe by Building Better Business Relationships
Presented by: Tamara Suminski
When: Wednesday, September 27 at 1:00 p.m. CST

These important topics are in addition to nearly 20 other safety webinars archived online, covering a wide variety of issues related to data security and cyber safety; open houses, foreclosures, vacant homes; and personal safety. Visitwww.NAR.realtor/Safety/Webinars.

2017 Member Safety Report - Each year, NAR surveys members on professional or work-related situations that prompted fear, their use of self-defense weapons and safety apps, and proactive safety procedures in their brokerage. To view the latest survey findings, visit www.NAR.realtor/Safety.

Social Media Safety Tips - Each week, NAR's official Twitter, Facebook and Instagram pages post a new safety tip in the form of a shareable visual graphic. Follow NAR (@nardotrealtor), or search for #RealtorSafety, to capture and share these tips.

Additional Safety Resources
The resources mentioned here reflect a fraction of the tools developed by NAR to support your efforts. To access all of NAR's safety resources, visit www.NAR.realtor/Safety.

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


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Generation X Homeowners Make A Comeback

Generation X Homeowners Make A Comeback

Real Estate News
Gen X Homeowners Make Comeback after Coming Up in the Crash
#realestate #cashbuyerslists #genx #generations #generationx #homeowner #homeowners #homeownership #realtor #agent #broker #comeback

Homeowners in Generation X are making a comeback after coming up in the housing crash, according to the National Association of REALTORS(R) (NAR) recently released Home Buyer and Seller Generational Trends study for 2017. More Gen X homeowners-who were most dogged by the downturn-are set to sell this year, having regained enough equity lost in the recession.
Read More> http://bit.ly/RECBL-March10



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Be Distinct In Your Marketplace

Be Distinct In Your Marketplace

Be Distinct In Your Marketplace
#realestate #cashbuyerslists #brand #branding #beunique #topperformer #smart #agent #broker #marketplace #standout #standoutfromthecrowd #bedifferent


Why is it such a challenge for an agent to really stand out in their marketplace? The answer is that many of us continue to perform the same way as everybody else. Without uniqueness to "how we do what we do," it’s easy to understand why the consumer has reason to question our value, when it seems that we all provide similar service. Smart agents understand the urgency to make simple, high-impact changes that create true uniqueness. Here are a few ideas to create a top-value experience that makes you stand out from the crowd...Read More> http://bit.ly/RECBL-March9


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REAL ESTATE TRAINING: SINGLE AGENT VS. TEAM

Real Estate Training: Single Agent vs Team

Cash Buyers Lists News​​

With the complicated nature of the real estate transaction, it has become critical for agents to incorporate great systems and processes into the mix to streamline their business activities. Savvy agents realize that time spent doing admin-level tasks takes them away from money-making activities, so they start looking for help.

Here’s an overview of the different levels agents can find themselves at:

Level 1: 7-20 Transactions/Year
There are thousands of agents at this level, which generally occurs by the second year in business. At this level, agents have a good part-time business, but it’s starting to feel like full-time. They do all of the work before, during and after the transaction and provide a high level of service to their clients.

Level 2: 21-30 Transactions/Year

At this level, agents start to feel the pressure of too many clients and stress about providing great service. They need help and often reach out to other agents to ask them to sit open houses and showings, often trading family time for client time. Agents at this level start thinking about a part-time assistant or transaction coordinator and are a medium-risk for being recruited by a team-friendly brokerage offering to provide them with help.

Level 3: 31-50 Transactions/Year
This agent is working nonstop. Their life revolves around work and they rarely have time for their kids, families and friends. Relationships start to suffer and are often strained because there’s not enough time in the day. Agents at this level often feel guilty, but justify the time away because they’re providing financial resources that make up for their absence. This is a sweet spot for building a team. Adding a full-time admin and buyers’ agent completely changes an agents business at this level. Not only can they do more transactions and provide their clients a higher level of care, but they can start scheduling personal time and take advantage of it without stressing about work.

Level 4: 51-100 Transactions/Year
This is the hardest growth area for agents and teams, as massive change has to take place in order to grow. Operational excellence, building a winning team, culture, daily huddles, CRM mastery, a focus on profitability and making sure everyone has clearly defined roles and responsibilities are crucial at this level. Once an agent gets to 100 transaction sides, its common to double the following year. At this stage, the team leader has a business that’s running well with lead-generation systems and a great support staff in place. With everything functioning properly, agents can now turn up the volume of leads they’re working and really grow.

Level 5: Seven-Figure Incomes
As an agent or team leader, your value to the team is now in the role of CEO, rather than employee. Your core focus should be on business development and people development. As you help your people grow and earn a great living, your clients are better served, and your life as a leader is very different. You’re now focused on building wealth and helping your people do the same. You have more free time than you did at the first four levels, and your family appreciates having you around.

There are amazing resources available to help agents form and train teams. It’s up to each person to plug in and utilize the systems and processes available to intentionally create the business and life they desire.

Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Sign up today for a free business consult with Verl by sending an email to coach@verlworkman.com.

For more information, please visit www.verlworkman.com.

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