We live in an age of everchanging ways to communicate: social media, email, text (SMS) and telephone. Which one is the preferred method for your clients? In an industry such as real estate, it is vital to know the best way to communicate with your buyers, sellers, peers and just about everyone. What makes this fascinating is how communication styles can differ by generation.
Right now, there are six generations that comprise our society. Every one of these six generations plays a role in the real estate marketplace. And today we bring you the best ways to communicate with each generation. So, keep this cheat sheet handy!
Here are the birth years for the six generations. These are our present and near-future home buyers!
There are many types of fraud prevalent today in the real estate industry. Property fraud or “house stealing” is a white-collar crime that if left undetected can lead to a variety of issues. Property fraud can happen when a scammer files fake deeds and/or makes it appear as if it is their home when it is not theirs to sell. Along with deed forgery, identity theft and mortgage fraud are top in line for the hottest home crimes happening today, as seen in FBI’s news releases.
Let’s look at what types of properties are at the highest risk.
A house delivered directly to your buyers and placed on-site that is energy efficient and spectacular. This is one of the top growing housing trends for 2019. Why? More and more people care about living in a healthy home that is eco-friendly and safe. Safe meaning the ability to withstand the type of climate where you reside.
Real estate professionals know it’s important to be well versed in the options available for their clients. When you are the source of information, it builds trust and value in what you bring to the real estate experience.
Say goodbye to previous conceptions of a pre-fab home. Pre-fab is short for prefabricated. It is a term used to describe any building or dwelling that is manufactured off-site, in a home building facility, and then transported to the home or building site to be set on a foundation.
Most people think of pre-fab as mobile homes or double-wide trailers.
Today’s pre-fab house is aesthetically designed, cutting edge and in many cases lower priced than traditional homes built on-site.
Architects are leading the way nationally and all over the world in designing pre-fab homes that are custom built to individual needs and tastes. A pre-fab home in most cases is no longer a cookie-cutter approach to homebuilding.
Here are the Top 3 Pre-Fab Home Trends Being Built Today
How would you feel recommending a contractor and finding out the work which was completed or semi-completed was not done properly? Do you think that it would affect your future business and recommendations? It certainly can. And it happens more often than you think.
This does not just happen to our clients. It happens to real estate agents all the time. I spoke this week with a real estate agent that inherited a condo from her mother. She decided to completely gut and renovate it. She went to the condo office to ask who they recommended since they have firsthand knowledge of the contractors that do a lot of work in the building. The office manager recommended a contractor that had renovated 3 units in her building in the same line. She went to take a look at them and was impressed with his work. Sounds good so far, right?
As a Real Estate Agent entering the field, what prompted your interest? Real Estate agents enter the business for many reasons. Many for the love of working in the industry, while others for the vision of creating lifetime wealth. Looking over a span of 20 years, what I have seen overall are many real estate agents that have built wealth developed in their everyday business.
This article is meant to be an initial step to educate and place you on the path of financial success through real estate. It’s about enriching your career and lifetime goals through the buying and selling of real estate.
To be real, the ride is not all uphill. Many real estate agents have lost homes and suffered financial hardship as a result of their investments. In life, as we know it, there are no guarantees. There is a smart system for investing. And what better way than to learn from those who have seen the highs and lows in the real estate economy and moved through them.
Here Are The 3 Top Investing Tips:
More and more homeowners and buyers are looking for ways to save on the costs involved in the daily and monthly upkeep of their homes. Realistically, this applies to all of us!
This checklist is great to bring with you and provide to your clients to help them plan and meet their goals when purchasing their new home.
These items are at the forefront of importance for today’s buyers looking to increase their home’s efficiency. The checklist below can be used as a resource and as a value proposition for you as their real estate professional.
This question comes up all the time. Does it make sense to purchase a home warranty to protect your buyers when they invest in a home or to provide added value when listing a property? Let’s review the benefits, the questions you should ask and how to get started.
Why Buy A Home Warranty?
Are you taking advantage right now of every tax break that is legally available to you? Probably not. The genius, Albert Einstein, is attributed to saying about taxes, “The hardest thing in the world to understand is income taxes.”
Are you trusting your tax advisor to provide you with all the tax saving benefits available to you? As experienced as many tax advisors are, most largely do a great job of recording the history that you give to them. It is far more uncommon to find an accountant that provides you with insight about tax breaks that you are not already taking.
Let’s explore some Tax Saving strategies and benefits – recommendations to put you in the driver’s seat and potentially put more money in your pocket, legally.
A real estate agent called complaining that he spoke with one of his buyers who wanted to see a property he found online. When the agent went to check the listing out, he was shocked. The commission stated was for $1.00. Being the professional that he was, he went to show the condo. He sent me a copy of the MLS sheet and lo and behold it was true. Then I contacted the listing agent thinking perhaps they were new and had made an error. Nope, she said, it was correct. The commission was one dollar.
Was this an isolated incident? No, the stories came pouring in from other agents. Another real estate agent showing buyers in a community where home prices start at $500,000 experienced something similar. The commission for the transaction broker was 3%. If you were a buyer’s agent, then the commission was only $1.
Now my curiosity was triggered to find out how many homes were for sale offering 1% or $1 commission. I searched multiple counties in one MLS in Florida, the results found 256 properties offering 1% commission with prices ranging from $25,000 to 12 million. Two were offering $1.
As more and more real estate agents build teams with agents that specialize in working with buyers, this concept can be hurtful. The 1% is often split multiple ways. The commission could be split with the head of the team along with the brokerage. That coupled with franchise fees, transaction fees, errors and omissions insurance along with business expenses could have your commission end up being less than 50% of the 1%. Then when you subtract taxes, the net income gets even lower. For many, this may not a profitable business model depending on the price of the home for sale. 1% of $50,000 is a lot different than 1% of 10M.
What Would You Do in This Situation?
Remember the famous childhood rhyme, “Sticks and stones may break my bones, but names will never harm me?” Well, think again. In today’s digital age, words matter, and more importantly, what people are saying about you can make an impact on your business’ reputation.
What are people saying about you?
When was the last time you searched your name to see what came up? Take some time today to search your name on different browsers such as Google, Firefox, or Safari if you are a Mac user.
Why is knowing your business footprint important?
According to NAR statistics, 99% of Millennials search online websites compared to 90% of Boomers. Whether you receive a large amount of your business from referrals or friends, rave reviews and testimonials can catapult you to the top. They can also create strength and value as to why clients should choose YOU.
A 2018 survey reveals how consumers search and what is important to them. Here are some key statistics from the survey:
- 86% of consumers read reviews for local businesses (including 95% of people aged 18-34)
- 91% of 18-34-year-old consumers trust online reviews as much as personal recommendations.
- 80% of 18-34-year-olds have written online reviews – compared to just 41% of consumers over 55
3 steps to getting testimonials with ease.