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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Diverse Roads Lead to Opportunity in Real Estate

Diverse Roads Lead to Opportunity in Real Estate

RECBL - Real Estate News

Every REALTOR(R) has a back-story on their path to real estate-and according to new research out of the National Association of REALTORS(R) (NAR), most REALTORS(R) were self-motivated to pursue it as a profession. Seventy percent of REALTORS(R) self-started their career because of an interest in the industry, the "Choosing a Career in Real Estate: A Perspective on Gender, Race and Ethnicity" report reveals. Sixty-four percent, in fact, say their interest in real estate is the most attractive part of the business to them.

Comprised of findings from a survey of 6,363 members of NAR, the report shows 69 percent of male REALTORS(R) and 65 percent of female REALTORS(R) embarked on a career in real estate that was self-motivated. African American and Black REALTORS(R), markedly, represent the largest share of self-motivated starts, at 75 percent.

Some REALTORS(R) entered the industry because of a friend who referred them, the report shows. Broken down by gender, a friend encouraged 20 percent of female REALTORS(R) and 18 percent of male REALTORS(R) to join the profession. Twenty-seven percent of Asian and Pacific Islander REALTORS(R) were referred by a friend-also the majority share.

Confirmed in the research? REALTORS(R) come from all walks of life. Eighty-two percent got their start in the working world outside of real estate; for 51 percent of female REALTORS(R), real estate is their second career, and for 36 percent of male REALTORS(R), their third. Female REALTORS(R) are more likely to come from a career in education, management or office support, while male REALTORS(R) are more likely to come from a career in management or sales. Sixty-one percent of African American and Black REALTORS(R)-again, the majority share-are in their second career.

Looking at activity and production, Caucasian and White REALTORS(R) (who make up 82 percent of NAR members) have the highest sales volume and transactions of all groups, the report shows. Asian and Pacific Islander REALTORS(R), however, sell the most expensive homes-translating to the highest median gross income ($56,800) of all segments. Caucasian and White REALTORS(R) have a median gross income of $54,200.

Hispanic and Latino REALTORS(R), by comparison, have a median gross income of $41,700 and the second-highest median transactions, and sell the third-most expensive homes. They are also the largest group with less than one year of experience in the field, and the largest segment specializing in the residential sector (71 percent).

In contrast, African American and Black REALTORS(R) sell the least expensive homes and have the lowest median gross income ($23,000). They are also the majority group earning less than half their income from real estate, and working less than 20 hours each week, suggesting part-time status as a REALTOR(R).

Turning to gender, male REALTORS(R) have a median gross income of $54,600, while female REALTORS(R) have a median gross income of $46,700. Male REALTORS(R), however, have a median seven transactions; females, a median eight.

Diversity in the field is reflected in its practitioners, but many REALTORS(R) share similar views, the report shows. Eighty-six percent of REALTORS(R) agree "people skills" are crucial to residential real estate success. Other important talents: self-motivation (84 percent) and negotiation skills (73 percent). When asked what are the most attractive aspects of the profession, "flexible hours," "working with people," the "entrepreneurial" quality of real estate, and "salary possibilities," were common responses.

"A career in real estate offers a work environment and diversity of opportunity that attracts all types of individuals, and the report’s findings are a reflection of that," says NAR President Bill Brown. "That being said, NAR remains committed to ensuring that its membership continues to reflect Americas growing diversity."

NARs diversity initiatives include several programs and resources: the At Home With Diversity (AHWD) certification; the Equal Opportunity and Cultural Diversity Program, which includes education, events, grants and partnerships; and the NAR Diversity Initiative Grant Program.

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

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Why You Should Never Skip Out on Lead Generation

Why You Should Never Skip Out on Lead Generation

RECBL - Real Estate News

The real estate industry is full of peaks and valleys. For many agents, these peaks and valleys are often reflected in their incomes, making it difficult for them to build profitable, successful businesses.

Almost all agents find themselves facing one or more of the common challenges of the business, which include inconsistent income, difficulty generating high-quality leads, weathering the emotional highs and lows, lack of structure and inability to stand out among the competition.

If you’re stuck in the cycle of peaks and valleys, there’s one thing that can help you break out: having a system. When you have a system to follow, you have the tools and strategies you need to stay focused and on track to build your business. The right system not only helps you earn more; it’ll help you save time and create consistency and predictability in your business. While the market may experience peaks and valleys, your business doesn’t have to.

Target Market Your Database
The most effective way to build your business is to tap into your existing relationships and ask for referrals. Working by referral allows you to target market your database, nurturing your relationships through consistent contact and providing your clients with valuable information and insight, as well as a high-level of service. When you talk to them, listen for a need you can meet and act on it right away. If your client mentions they’re thinking of replacing the roof on their home, connect them with reputable roofers in your network. Or, if they mention they’re thinking of starting a business, give them a book from your favorite business leaders to help them keep their motivation high. These seemingly small gestures have a big impact and help to build your relationship.

A benefit of building your database with people you enjoy working with is it helps you better manage your time and prioritize your day. You won’t waste time dreading an upcoming interaction with a mean or overly-demanding client; instead, you’ll do your proactive lead-generating activities with a smile on your face. Boost the effectiveness of your interactions by tracking your activities and results; that way, you can see where you stand in your business, tap into more opportunities to connect with your clients and fill your pipeline with a steady stream of leads.

Once you’ve developed a relationship with your clients-whether you’re currently working with them or you helped them buy or sell a home a few years ago-ask them for referrals to other great clients like them. Most people will be eager to refer you to their friends, family and co-workers, if asked. Since "birds of a feather flock together," asking your best clients for referrals helps you ensure youll continue to build a database of great people you enjoy working with.

Lead-Generating Habits Necessary to Success
If you want to succeed, be sure to cultivate these habits. They’re imperative to developing a lucrative and predictable business.

1. Commit to two hours of proactive lead generation activities each day. This includes calling your clients to check in, writing personal notes to thank clients for their business or delivering small gifts of appreciation to your client’s homes or offices.

2. Mail an item of value each month to help you reinforce your character and competence as an agent. While these marketing pieces don’t necessarily have to discuss real estate each time, they should cover a topic of interest to your clients, whether they’re current or aspiring homeowners.

3. Always follow up with a phone call after you’ve sent your marketing piece to see how they’re doing and ask if there’s anything you can do to help. This is the best time to listen for a need you can fill, so listen closely.

4. Send a personal note after you speak with your client on the phone to express how much you enjoyed catching up with them.

5. For your best clients, deliver a small gift of appreciation to their home or office to further build the relationship.

Don’t forget to ask for a referral each time you speak with your clients. A gentle reminder will help them remember to refer you when a family member, friend or co-worker mentions they’re thinking of buying or selling a home. If you’re not sure how to ask, we’ve created a resource to help you start the conversation.

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

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First-Time Homebuyers: Your Time Is Now

First-Time Homebuyers: Your Time Is Now

RECBL - Real Estate News

Fall is for first-timers. If you believe you missed your opportunity for a chance to pick up your first home this past summer, think again.

In this era of investment, the best property investments may be in other cities. Even if you intend to stay close to home, knowing what’s going on in other states might provide a superior return on investment.

As you may have read in my very popular post on US Housing Predictionsfor 2018 to 2020, the US housing market is hot and some cities are hotter than others. No housing crash is forecasted.

Even normally depressed quiet markets are coming to life and beginning to catch investor’s eyes. It’s good news for Michigan, Florida, California, Texas, and New York and even better for real estate investors in 2018.

Scorching hot opportunity in the best cities! Will the hot markets of San Francisco, San Jose, Silicon Valley, Phoenix, and Los Angeles do as well as expected? Those cities with the highest home prices are not your only option. There’s plenty more towns and cities across the nation where you can buy rock bottom and sell high including this list of real estate by zip code. Cities you’ll read about below with lower home prices and rising employment rates may be your best bets for 2017 to 2020.

Seventy of the top 100 largest metropolitan areas see more starter homes on-market in October, November and December, relieving prices 4.8 percent over spring, according to the recently released Trulia Inventory and Price Watch.

The most dramatic shifts-in favor of first-time homebuyers-in prices and supply are out West, in Arizona, California, Colorado and Oregon.

"Housing markets along the West Coast have long been plagued by tight inventory and worsening affordability, but it’s not completely hopeless for would-be homeowners," says Cheryl Young, senior economist at Trulia. "The seasonal swings in listings and prices in the San Francisco Bay Area, Portland, Ore., and even Phoenix, means buyers will likely find more homes for sale at a lower price in the fall and winter months."

Make no mistake: The housing market is still in a squeeze. Entry-level home inventory sank 20.4 percent year-over-year over the summer, while move-up home inventory shrunk 12.5 percent. Even luxury homes were at a shortage, down 2.3 percent. First-time homebuyers were forced to shell out 39.7 percent of their monthly earnings for a starter home.

The change of season, still, could usher in more opportunities.

"Starter homebuyers should begin looking now," Young says. "The fall season provides a great opportunity for finding the right home and neighborhood, thanks to a bump in homes for sale on the market, followed by lower winter prices."

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



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Rock Your Fourth Quarter

Rock Your Fourth Quarter

RECBL - Real Estate News

You started 2017 strong, now finish stronger. Whether you’re on track to exceed your goals or you’ve fallen behind, you have two-plus months to finish strong and set the stage for a successful 2018. Luckily, autumn is a great time to get face-to-face with your clients and generate leads.

Don’t take your foot off the gas and coast into the holiday season; use this social time of year to seize opportunities to check in with your clients while you enjoy the spirit of the season.

The fourth quarter is prime-time. Many companies can do almost half of their business in the final three months of the year.

A lot of us do really well under pressure. When you're under pressure or when you have to hit a sales number you are likely to deliver your best performance. I know that's when I start dialing for dollars!

Start following up with everybody on LinkedIn, start sending those email. Do what you have to do so that you can get in front of your client. Don't wait for business to come to you, reach out and you'll be amazed at what can happen at the last minute. Finish strong!

Adopt the mindset of a sprinter.
By the end of the year, many agents begin to feel their motivation wane. If that sounds like you, flip your calendar ahead to December and pick the last day you plan to work before the holidays. Then, count backwards through the calendar to see how many weeks you have left to reach your goals. This allows you to think like a sprinter and act as if each week is a separate sprint. At the end of each week, take a break to help you begin the next week refreshed and focused on your end-goal.

Focus on lead generation.
Keep your pipeline full of leads well into the New Year with consistent lead generation. Continue to do your proactive lead-generating activities right up until your vacation starts and not only will you achieve your goals this year; you’ll sow the seeds for business and closings in the winter and spring, as well.

Enlist help to stay motivated.
Take your motivation to the next level by pairing up with a colleague in the office. Compare notes each week to encourage one another. Share your successes and challenges of the week and provide accountability to help each other reach goals.

Get a lead by lunchtime.
If you need a lead, deliver a small gift of appreciation to help you get face-to-face with your clients and deepen your relationships with them. Luckily, were entering the most social time of the year when people are eager to connect. When you pop by your clients homes or offices with a small, thoughtful gift, you not only thank them for their business and referrals; you also ensure you stay at the forefront of their minds.

Connection Anxiety
If you’re nervous about dropping by your clients, start with the people you like the most. It'll fuel your energy and keep you motivated to visit more of your clients. Make sure they’re home or in the office when you arrive by calling ahead and letting them know approximately when you’ll be there. Keep the visits short; they shouldn’t be any longer than 15 minutes. 

Stay standing while you’re visiting to ensure you don’t stay too long. Don’t get hung up on the gift. The true gift is your time and the visit. The gift itself should be thoughtful and inexpensive, such as seasonal gifts like fresh picked apples from a local farm or a bag of Halloween candy or holiday-themed items such as a festive wreath, holiday ornament or baked goods. If you’re planning to host a holiday party, hand-deliver the invitation to your clients.

Scale Properly
It is so important to see your business through a critical eye. Take your ego out of it. Sometimes we get so focused on what we set out to accomplish, that we forget to take a look at whether it is working or not. If you look at particular project and realize it is not working, start to scale back.

If something isn't working, that's okay. But instead of thinking 'MAYBE it's going to get better, maybe it's going to get better' –course correct sooner and do what your numbers tell you!

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Commercial Real Estate to Grow 'Moderately' Through 2019

Commercial Real Estate to Grow 'Moderately' Through 2019

RECBL - Real Estate News

A recent forecast out of the Urban Land Institutes (ULI) Center for Capital Markets and Real Estate predicts moderate growth for the commercial real estate industry through 2019.

The ULI Real Estate Economic Forecast, a semi-annual projection based on survey responses, anticipates commercial real estate will see $450 billion in transaction volume in 2017 and $427 billion in volume in 2018 and 2019.

All are declines from the previous year. On the broader economy, the forecast expects GDP to grow 2.2 percent in 2017 and 2.4 percent in 2018.

"Respondents to the October 2017 ULI Real Estate Economic Forecast downplayed the possibility of a spike in economic growth through 2019," said William Maher, director of North American Strategy and Research at LaSalle Investment Management, leader at ULI and a survey respondent. "At the same time, they confirmed that the current expansion could become the longest one since records were kept starting in the 19th century.

While real estate will benefit from continued growth, U.S. property markets are close to equilibrium, which should result in inflationary rent growth and returns in the single digits for core real estate and equity real estate investment trusts (REITs)."

The forecast expects 960,000 single-family housing starts in 2019, and home prices to appreciate an average 4.8 percent through 2019.

Source: Urban Land Institute (ULI)

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Economic Forecast Perks Up

Economic Forecast Perks Up

RECBL - Real Estate News

Analysts are amending their economic forecast due to higher GDP expectations, even as Hurricanes Harvey and Irma weigh on growth, according to Fannie Mae’s Economic & Strategic Research (ESR) Groups recently released Economic and Housing Outlook for September 2017.

The Outlook projects the economy will perk up 2.2 percent over the course of the year, up from the 2.0 percent initially reported.

"For the first time in 2017, we have increased our full-year growth outlook," says Doug Duncan, chief economist at Fannie Mae. "The upgrade reflects economic activity gaining momentum at the end of the second quarter, though we see a great deal of uncertainty surrounding the forecast. The list of uncertainties now extends beyond the geopolitical and legislative, as the effects of Hurricanes Harvey and Irma will require time to untangle.

"Historically, natural disasters that hit heavily populated areas led to substantial near-term declines in economic activity but meaningful rebounds in subsequent quarters due to rebuilding efforts," Duncan says. "Thus, economic growth in the second half of 2017 could still average a slightly stronger pace than the first half. Unfortunately, we continue to expect home sales to be flat during the second half of the year compared to the first half due to strong home price appreciation and lean inventories."

Source: Fannie Mae

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Get in Early on Emerging Neighborhoods

Get in Early on Emerging Neighborhoods

RECBL - Real Estate News

Buying in a hot housing market while prices are reasonable is a sure ticket to wealth. Analysts at GOBankingRates recently spotlighted 20 up-and-comers.

The top 10 are:

1. Jungle Terrace - St. Petersburg, Florida
Median List Price (as of July 2017): $239,900
Price Change Year-Over-Year: +44.5 percent

2. Beacon Hill - Seattle, Washington
Median List Price: $569,995
Price Change Y-O-Y: +31.2 percent

3. Point Breeze - Philadelphia, Pennsylvania
Median List Price: $295,000
Price Change Y-O-Y: +40.5 percent

4. Heather Gardens - Denver, Colorado
Median List Price: $278,750
Price Change Y-O-Y: +27.3 percent

5. Pinehurst - Seattle, Washington
Median List Price: $350,000
Price Change Y-O-Y: +24.8 percent

6. Hazelwood - Portland, Oregon
Median List Price: $324,450
Price Change Y-O-Y: +22.4 percent

7. Twin Lakes - Las Vegas, Nevada
Median List Price: $182,450
Price Change Y-O-Y: +41 percent

8. Fairgrounds - Indianapolis, Indiana
Median List Price: $179,900
Price Change Y-O-Y: +29 percent

9. Bayside West - Tampa, Florida
Median List Price: $229,900
Price Change Y-O-Y: +32 percent

10. Highland Hills - San Antonio, Texas
Median List Price: $135,000
Price Change Y-O-Y: +35.3 percent

Source: GOBankingRates

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Start Strong, Finish Stronger with a Big Q4 and Happy New Year

Start Strong, Finish Stronger with a Big Q4 and Happy New Year

RECBL - Real Estate News

We’re about to begin the final stretch of the year. Even if you’re close to reaching your goals, now is not the time to give in to distractions. While it’s necessary to plan for time off at the end of the year, now is the time to work hard to not only reach your goals, but also set yourself up for 2018, as well.

Remember: the seeds you sow now are the referrals you’ll reap in the coming year. Finish the year strong and you’ll be able to maintain your momentum in the New Year.

Start planning for next year.
We live in a time of immediate gratification; however, success isn’t immediate-it takes years of planning and consistent practice to succeed. Although the plan doesn’t need to be set in stone, it is time to start thinking about next year. Creating a practical and disciplined plan, and then committing those goals to writing, will allow you to measure where you are and what proactive lead-generating activities you need to do to make your goals a reality.

Think long-term.
When you’re busy, it can be tough to plan ahead; however, once those transactions are winding down and the contracts are signed, it’s essential to have more business in the pipeline. Keep lag time at a minimum by making time for lead-generating activities, even when you’re busy. Focusing on the long-term will ensure you keep your momentum up and transactions on deck.

Get face-to-face with clients.
The relationships with your clients drive your business. The autumn season is an ideal time to get face-to-face with your best clients. Plan a fun client party that takes advantage of the season, such as a fall hayride or pumpkin picking. Or, swing by your clients homes with a small thank you gift, such as a small pumpkin, a pie or their favorite warm beverage. Don’t forget to thank them for their business and referrals, and ask them to continue to refer you. For more inspiration, here’s a "referral recipe." Give it a try for a week! If you meet new people in the process, be sure to get their information and add them to your database.

Make time for personal development.
Stay sharp and on top of your game by taking a class or seminar. Enroll in a local or online training or register for a real estate event near you. Continuous learning not only keeps you up-to-date on the market so you can serve your clients better, it also helps you stay motivated. When you commit to growing yourself, you help to grow your business.

Continue to track your activities.
Tracking allows you to monitor your progress so you can see how far you’ve come and know how much you need to do to achieve your goals. Knowing your numbers also helps you stay motivated to succeed.

Finish strong.
The more activities you do, the closer you become to your clients and the more referrals you may be able to generate if you ask or remind them. When you focus on the fundamentals, you can be sure you’ll finish strong.

Continue your success in 2018 by setting the stage for it now. Your fourth quarter is a sprint; schedule your goals and continue to work hard by utilizing productivity programs like the Blitz: Finish Strong. You'll be glad you did when the New Year comes!

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

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Boom, Baby Boomers, BOOM! One of America's Most Lucrative Demographics

Boom Baby Boomers, BOOM! One of America's Most Lucrative Demographics

With more than 75 million people fitting into the American baby boomer demographic, it is easy to understand why this group would be important for REALTORS(R) to understand.

Even more eye-popping to REALTORS(R) is the fact that more than 70 percent of baby boomers own homes, and will be looking to make homeownership changes really soon. This spells big opportunities for REALTORS(R) looking to serve the burgeoning baby boomer market over the next 10-15 years.

NAR takes a deep dive into marketing to baby boomers in its Field Guide to Working With Baby Boomers, which features, among many others, an article from Forbes Magazine entitled "7 Reasons Why Marketing to Baby Boomers Is Unique," which includes the following insights:

1. Baby boomers have money to spend. As opposed to those who grew up in the Great Depression, baby boomers are quite affluent. According to a Nielsen report, they account for $230 billion in sales of consumer-packaged goods like coffee, diet soda and magazines, and make up 70 percent of the nations disposable income. Baby boomers will also inherit $13 trillion in the next 20 years.

2. Baby boomers invented the suburbs. Suburban home development occurred simultaneously with baby boomers ability to make down payments on a mortgage and their desire to leave urban marketplaces. They still live in the suburbs, where many now own 100 percent of their own homes.

3. They plan on living in a better house as they grow older. Seventy percent of baby boomers think their current house is not the best that they can get and they are looking to upgrade. Baby boomers are setting new trends that defy traditional definitions of a "relaxed" retirement. Instead, they are diligently looking for newly constructed homes where they can continue to pursue an active lifestyle surrounded by the latest amenities.

4. Their brand loyalty is tenacious. Once they find a brand they like-one they grew up with-they stick with it; Volkswagen cars, Levi jeans, Harley Davidson motorcycles, Club Med, Noxzema, Leggs. This means that finding out what your baby boomer clients interests are will help guide you toward homes that best meet these trends, and, ultimately, increase the chances of closing a deal.

5. Remembering Woodstock - The famous music festival was a countercultural event which symbolized that the baby boomers were not going to be defined by their parent’s morals and lifestyle. They were going to think and act for they themselves-and they still want to be thought of that way. The least hint of patronizing the baby boomers will flatten any marketing campaign.

6. Baby boomers do use social media, but in a different way. As you develop your social media strategy for baby boomers, be aware that while a 20-year-old is posting photos of their night out on Instagram or Snapchat, a baby boomer is more likely to post a photograph of a new grandbaby or the new RV they just purchased on Facebook. It’s the more "traditional" venues, such as Facebook and Twitter, that are used by baby boomers, so keep your focus there.

7. Baby boomers are not old. Baby boomers do not want to be reminded of their age or be considered as old; rather, they want to be encouraged about their accomplishments and their future. They want to hear about the opportunities that lay before them to experience new chapters in their life.

Other helpful articles in the field guide include "Myths About Boomers and Real Estate," "9 Digital Marketing Strategies to Woo Baby Boomers," and "Baby Boomers Not Showing Any Signs of Downsizing." In addition to marketing resources for the baby boomer market, the field guide also provides tips on reverse mortgage basics, housing trends for the 50+ demographic, related websites relevant to this audience and links to eBooks and other resources.

View the entire Field Guide to Working With Baby Boomers resource from NAR.

To learn much more about how real estate professionals can best serve baby boomers and other 50+ client segments, please consider checking out the education, benefits, and resources offered by SRES(R) Designation. This entire month of September, the featured 25% OFF course at the Center for REALTOR(R) Development is the Seniors Real Estate Specialist (SRES(R)) Designationcourse, which is the basic requirement toward obtaining the SRES(R) Designation.

A version of this article originally appeared on NARs The Members Edge blog. The Members Edge is a blog for new members to learn all about the benefits provided by the National Association of REALTORS(R) (NAR). It is the go-to resource for everything from real estate ethics to tips for interacting with foreign buyers. The information provided in The Members Edge cultivates a capable and educated community of REALTORS(R).

For more information, please visit onlinelearning.realtor.

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