August 22, 2017

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Enjoy the Commercial Experience at the REALTORS® Legislative Meetings

realtor.org Commercial Headlines - 2 hours 1 min ago

You're invited to attend the REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. this May. Share your voice and enjoy a full slate of commercial-specific governance meetings and forums, along with a networking reception for you to connect with practitioners from all over the country.

NAR Commercial Members & RPAC in 2016

realtor.org Commercial Headlines - 2 hours 1 min ago

Download (JPG 877KB)

This infographic summarizes NAR commercial member involvement in RPAC in 2016.

NAR at ICSC RECon 2017

realtor.org Commercial Headlines - 2 hours 1 min ago

Each year NAR hosts a booth space at ICSC RECon along with partner Xceligent™. Doing so is part of NAR’s strategy to provide our commercial real estate constituency with services and savings. NAR members are welcome to utilize the NAR booth as a “home base" to book individual table space for deal-making meetings with clients, get personalized demos of Xceligent™ data tools, and enjoy a complimentary cup of coffee, bottle of water, or light snack. 

... Read More

National Commercial Awards

realtor.org Commercial Headlines - 2 hours 1 min ago

Each year, NAR honors accomplished REALTORS® in commercial real estate by celebrating their local achievement through recognition in our National Commercial Awards. Honorees are eligible to be nominated by  receiving awards from their local association, state association, community organizations or brokerages.

Recognize an award winning member at your association by filling out the form below to highlight your member’s achievements and congratulate their excellence in commercial real estate this past year. The deadline to apply is August 31st, 2017.

Criteria... Read More

Commercial Real Estate Outlook

realtor.org Commercial Headlines - 2 hours 1 min ago

Download (PDF 1.8MB)

NAR's latest Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets.

  • Commercial fundamentals in large cap markets echoed the economic slowdown during the quarter.
  • Demand for office and apartment properties remained steady, while industrial and retail... Read More

Comment on 50 Cheap, Easy Ways to Boost Your Listing’s Appeal by Realty of Comox

Styled, Staged & Sold - Sun, 08/20/2017 - 10:34

An excellent graphic to reinforce the need for a great first impression. Clean, de-clutter and freshen up so that your home looks its best.

Staging: More Money, Fewer Days on Market, Report Shows

Speaking of Real Estate - Thu, 08/17/2017 - 10:55

To many real estate pros, home staging has gone from a luxury to a necessity. The National Association of REALTORS® found in a recent survey that sixty-two percent of sellers’ agents believe staging a home decreases the amount of time a home spends on the market, and a third say it increases the selling price.

The survey also found that staging can help buyers envision themselves living in that home. NAR’s Home Staging Report found that another 77 percent say that staging makes it easier for the buyers to visualize the property as their home. Staging can help transform a home into the type of residence that is demanded and desired in the market.

Some staging services that can be useful include photoshoot styling services. This involves prepping and photographing staged living areas to be featured in an online listing. This staging service is attractive because many home buyers are beginning their home search online and a nicely designed home can draw a buyer to the open house. Independent of how the market is, a staged home has a move-in ready feel and buyers will pay for it.

Of course, these benefits don’t come free. Staging services can cost hundreds or even thousands of dollars depending on the home’s condition, desired outcomes, size, and where it is and whether it is occupied or vacant. But home staging doesn’t have to involve a complete makeover. As NAR’s 2017 Profile of Home Staging shows, there are really three rooms one should consider staging: living room, kitchen, and the master bedroom.

Home buyers decide within eight seconds of seeing a home whether they like a home or not, according to the Real Estate Staging Association. That first impression can be long lasting. To help you learn more about the topic, we spoke with an NAR researcher and a Chicago-area stager and report on what they say. Access the video. 

Why I’m Running for the Board

YPN Lounge - Wed, 08/16/2017 - 14:41

Nico Hohman

By Nico Hohman

I am a 28-year-old broker-owner of my own independent real estate company, and I am running for a position on the board of directors for my local association, the Greater Tampa REALTORS®. The association has been around for more than 100 years and is over 10,000 members strong. It has been adding close to 125 new members every month for the last two years.

I am running for a seat on the board not for the prestige or the pay (which is none), nor for the tag on my resume, but because I believe in the future of my local REALTOR® board.

For me, the board should be shaped by three simple yet profound objectives: First, to educate our members to make them the most professional businessmen and women in any industry. Second, to enlist our members to support the local, state, and national initiatives of RPAC. Lastly, to engage the buying public to keep the agent as the focal point of the real estate transaction.

Educate. Enlist. Engage.

Three simple objectives. One important mission.

1. Educating our members. Give a man a fish, feed him for a day. Teach a man to fish, feed him for a lifetime.

I had come from both corporate and institutional nonprofit jobs before getting my license. Both of those fields required the utmost professionalism from me at all times. I was disheartened and slightly ashamed when I found out that real estate does not require a higher level of education standards. I found myself defending my own career because of the poor performance and professionalism of my peers. But there are things an association can do to address these concerns. First, we must encourage our members to put education as their number one priority. Our members should want to go above and beyond getting the minimum number of continuing education credits.

We are working through a knowledge-based economy now, and the agents who hold more knowledge about the transaction and the market are the ones who will land all the clients. Buyers and sellers are too sophisticated to go with the agents with pushy sales tactics or cheesy advertising campaigns.

Second, speaking as a training and hiring broker, we must encourage member brokers and managers to seek out agents who are highly educated. We should encourage them to drop those agents who don’t put an emphasis on training and learning. If there are no repercussions for poor job performance, poor peer reviews, or lack of on-the-job knowledge, then there is no incentive for agents to want to improve. If individuals don’t get  better, the group doesn’t get better.

The association can do its part by placing an emphasis on education, from the events they hold to the budgets they approve. If classes, activities, and events can’t show how they make the members better at their jobs then they need to be cut. Better education leads to better agents.

2. Enlisting member support. One of the strongest reasons the real estate profession and the idea of homeownership is as common as it is, is because of the work of the REALTOR® Political Action Committee (RPAC).

RPAC serves as the cohesive voice in county commissions, state capitals, and Washington, D.C., advocating for property ownership rights and the real estate profession. Without the contributions of RPAC to local, state, and national legal doctrines, I dare say the real estate transaction and industry would look unfamiliar to that of today.

Yet, with all of the great work done by those fighting for our rights as business owners and property owners, less than a quarter of the members of our association choose to support these efforts. For some agents, they might not know what RPAC does. When I first started as an agent, I certainly didn’t know what RPAC was. That excuse can quickly be remedied by my first objective: educating our members. Once I knew of the benefits of RPAC, I quickly became a supporter.

For some agents, they might feel disenfranchised by the whole legislative process. Sometimes it seems like lawmakers only make the news for their lack of getting things done or doing things that are scandalous. But lawmakers do introduce and pass legislation that has a major impact on our daily lives all the time. Issues like capping estoppel fees, removing sales taxes from service providers, keeping the mortgage interest deduction, implementing the 1031 exchanges, and limiting property tax increases are all issues that make our lives as business owners and property owners better.

But these issues would have never been passed or upheld if it wasn’t for the continuous support of RPAC. Our association—and every local association—should work to enlist 100 percent of its members to voluntarily support the contribution of RPAC.

3. Engaging the public. The times, they are a’changing.

The economy is changing. Work is being done differently compared to 20, 10, and even five years ago. The real estate industry has seen threats and challenges from discount brokerages to digital lockboxes to online portals. However, I believe wholeheartedly that none of these threats are as dangerous (or as imminent) as the threat of not having an agent involved in the real estate transaction.

Technology makes a lot of our job functions easier. It can even eliminate some job duties all together. But with better automation comes the real threat of eliminating the entire profession of the real estate agent. There are technology firms and real estate related companies out there today looking to do just that. They aim to make the real estate transaction as casual as buying a blender on eBay.

The association, on a local, state and national level, needs to insert its considerable might into the public sphere to showcase that buying and selling a home is not something that can be done with just a click of the mouse. The real estate transaction has many moving parts with several different players all working with different pieces of information. It can take weeks or even months for one transaction to close legally and correctly. Plus, an individual buyer or seller might conduct a single transaction once every five to 10 years.

It is the function of the real estate agent to coordinate the countless pieces of information and the multitude of personalities in order to achieve one attainable goal: to sell a home. A piece of software cannot do all of that on its own. If the association doesn’t engage the public on the usefulness of the real estate agent in every transaction, the duties of every REALTOR® will be reduced to that of a mouse click.

The future of the real estate agent, and, in turn, the future of a real estate board, is not as clear as it once was. Without a vision for future action, local boards may be caught reacting to the future instead of proactively shaping it.

Nico Hohman is the broker-owner of Hohman Homes, a residential real estate brokerage based in Tampa, Fla. Learn more about Nico at hohmanhomes.com or connect on Twitter: @thenicohohman.


Sponsor Webinar: Win Listings and Sell Them Quickly with 3-D and VR Technology

Speaking of Real Estate - Mon, 08/14/2017 - 13:59

Real estate professionals looking to outsell their competition are turning to 3-D and virtual reality technology to help them win listings, connect with home buyers —and close sales.

Among the options is an all-in-one media solution from Matterport that enables agents and brokers to create dynamic 3-D house tours with embedded video and audio, immersive virtual reality walkthroughs, high-resolution photography for print advertising, traditional 2-D floor plans, teaser videos, and more, from a single shoot. With Matterport’s easy-to-use technology, you can integrate 3-D and virtual reality technology into your marketing for the same cost of a traditional 2-D photo shoot, and in about the same amount of time. This means you can spend more time winning listings than generating marketing assets.

By combining traditional marketing techniques with sophisticated 3-D and virtual reality technology, Matterport has become an effective tool for real estate professionals. One RE/MAX agent improved her listing conversion rate from 60 percent to 95 percent, while another from Keller Williams hasn’t lost a listing since using Matterport’s technology to build listing presentations. An Alain Pinel broker says his agents are winning listings that might otherwise have gone to competitors by using 3-D tours in their listing presentations.

This technology does more than win listings. Matterport’s tool also helps sell houses and build your brand. You can share every digital asset created with the Matterport system quickly and easily across all of your online channels to reach buyers from anywhere. One RE/MAX agent said she used the system to sell two homes to remote buyers who never saw them, and reduced the amount of time it takes her properties to sell by 56 percent. You can use the tool yourself or connect with a service partner who can do the work for you.

You can learn more about using 3-D and virtual reality technology in your real estate business by viewing a webinar featuring Mark Tepper, vice president of Matterport, and Paul Grasshoff, a senior account manager for the company.

REALTOR® Magazine is promoting this webinar, but did not participate in the development of the content.

Source: Matterport, an immersive media technology company, contributed this post to let agents and brokers know about a webinar it’s sponsoring on how 3D and virtual reality technology can help them stand out.

Business Book Best Sellers

Weekly Book Scan - Thu, 08/10/2017 - 14:59

Every once in a while, we like to look at what made The New York Times’ best seller list for the business category. And what do you know? When I went to check the list for this month, I found one with the real estate industry at the center, taking up the number one spot! The first book by the power couple behind HGTV’s Fixer Upper knocked the perennial favorite Malcolm Gladwell off his perch. Guess that means I should pick it up!

Here’s the full top ten for August. Let me know if you have any favorites here that I should feature on the Book Scan.

  1. THE MAGNOLIA STORY by Chip Gaines and Joanna Gaines with Mark Dagostino (W Publishing/Thomas Nelson)
  2. OUTLIERS by Malcolm Gladwell (Back Bay/Little, Brown)
  3. GRIT by Angela Duckworth (Scribner)
  4. RED NOTICE by Bill Browder (Simon & Schuster)
  5. THINKING, FAST AND SLOW by Daniel Kahneman (Farrar, Straus & Giroux)
  6. THE POWER OF HABIT by Charles Duhigg (Random House)
  7. INVISIBLE INFLUENCE by Jonah Berger (Simon & Schuster)
  8. TOOLS OF TITANS by Tim Ferriss (Houghton Mifflin Harcourt)
  9. GET YOUR [explicit] TOGETHER by Sarah Knight (Little, Brown)
  10. SHOE DOG by Phil Knight (Scribner)

Comment on Hot Home Trend to Watch: The Two-Toned Kitchen by JOANN ROBERTS

Styled, Staged & Sold - Thu, 08/10/2017 - 00:00

Gray and white are currently the trend colors preferred by buyers. I’m selling real estate now. Every one of these kitchens are beautiful just like today’s young buyers want.. Homes with kitchens like these, and houses painted gray with pure white trim sell for more money and sell faster. Currently buyers hate yellow, blue, green, beige… and jewel tone accent walls… so if your selling, it isnt about what color the seller or Realtor like, if you are a seller or Realtor and you want to sell the quickest and for the most money, PAINT GRAY AND WHITE… period!

Comment on Buff Up Those Hardwood Floors so its a Selling Point That Shines by Delaware Valley Hardwoods

Styled, Staged & Sold - Wed, 08/09/2017 - 23:50

Really well written post Brooke. In the last few years there have been some advancements in recoating systems so you don’t always need to use a buffer. The likelihood of adhesion failure is far less and it cuts down on dust – in fact there is no dust at all as you’re not sanding. Basic Coatings, Bona and Loba all have bonding coats that replace mechanical abrasion with screens and a buffer. Again great post. Cheers.

Comment on 3 Popular Types of Hardwood Floors by Delaware Hardwoods

Styled, Staged & Sold - Wed, 08/09/2017 - 23:34

Love walnut floors. Unfortunately most floors in our area are red oak. They still look great stained though. Much better than fake laminate that can’t be refinished.

Stop Wasting Time With the Wrong Leads

YPN Lounge - Wed, 08/09/2017 - 16:22

Lee Davenport

By Lee Davenport

One hundred and seventy-five houses.

He showed 175 houses to only find out that the would-be buyer was not in a position to purchase for another year. My, my, my!

I hope you have never shown that many houses to a looky-loo—someone who is not prepared to buy for one to five years out, or longer. But even if you show five homes to a looky-loo, it’s still too many. Why? Because every prospective client has a time frame and we must respect and control our businesses to operate within the bounds of those time frames. If not, we will become frustrated and even burned out by giving those who are not ready too much time. Meanwhile, buyers who are chomping at the bit because they have to act fast are driven to another agent because you’re just not available. What a quandary, indeed.

Begin to classify and prioritize your time with leads using my “Lead Locator”:

I would love to hear from you. Give me a shout on Facebook, Instagram, YouTube, and Google+, or by visiting LearnWithLee.Realtor. Want more of the best practices from our nation’s top producers? Grab your copy of the short read, Profit with Your Personality. And, be sure to tell the real estate agents you know to get a copy of the 5-star rated workbook, Plan to Win!, to transform their real estate sales game plan. Here’s to your success.

Dr. Lee Davenport is an Atlanta-based real estate coach who trains agents, teams, brokerages, and other business organizations on how to use today’s technology to work smarter. Join Lee’s free RE Tech Insider’s Club by visiting www.LearnWithLee.REALTOR.

Comment on 8 Home Projects with a High ROI by Brett Cairns (RE/MAX)

Styled, Staged & Sold - Mon, 08/07/2017 - 19:36

There is generally not a home renovation project that provides a higher ROI than an updated kitchen

Typical Commercial Agent Now Makes $120,800

Speaking of Real Estate - Mon, 08/07/2017 - 13:09

Commercial prices continue to head up, at least among smaller properties in secondary and tertiary markets. As a result, the typical commercial agent is making $120,800, an 11 percent increase from the previous year, when the median income was $108,500. The income gains come even as agents on average are doing fewer deals, eight as opposed to nine. These are among the findings from NAR’s 2017 Commercial Member Profile. Another finding: Agents are more experienced. The typical agent has been working in the business 24 years now.

The profile just looks at commercial agents who are members of NAR. These are not typically agents who work on big transactions, like those involving skyscrapers in big cities. Rather, these are agents who do smaller deals, typically under $2 million.

Details of the commercial profile are a top story in the latest Voice for Real Estate news video from NAR. Another story looks at sustainability. That’s a topic that seems remote to many agents. While promoting sustainability might be a good thing in the abstract, why would an agent care about it from a business point of view?

That’s a good question, and that’s one of the questions NAR was trying to answer when it hosted a sustainability summit two weeks ago in Washington. The summit was a typical Washington event, in which experts from around the country are brought in to talk about an issue. In this case, though, there was an emphasis on the concrete: how does sustainability affect the business agents are in. Do they make more money? Are households demanding sustainability in their housing choices? The answer appears to be yes on both counts. Research shows houses with green features, like solar panels, fetch higher prices in the market. And consumers are increasingly asking to look at listings that showcase green features.

The video also looks at the bipartisan cooperation on an issue of vital importance to residential home sales: the availability of federal flood insurance. Although there are several hurdles that have to be gotten over before federal flood insurance is renewed, NAR and lawmakers on the House Financial Services Committee agreed to improvements to the bill that will reauthorize the National Flood Insurance Program. Under the agreement, home owners who live in an area that’s been newly designated as a high risk for flooding won’t find their insurance premiums suddenly going up. Instead, they’ll be grandfather in under their old rates. The agreement also imposes a cap on how much existing owner’s premiums can increase at any one time.

Other stories in the video look at the latest home sales trends, how you can connect to NAR’s new CEO, and how you can stay safe while meeting new clients . Access the video now.






FIRPTA Changes Primer

realtor.org Commercial Headlines - Mon, 08/07/2017 - 04:00

In this video, Evan Liddiard and Linda Monaco discuss FIRPTA changes and what they mean for buyers and sellers of real property and for the commercial real estate industry. 

Comment on My Favorite Staging Accessory: Rugs by Shelly

Styled, Staged & Sold - Sun, 08/06/2017 - 22:32

Great post. I was checking continuously this blog
and I’m inspired! Extremely useful info specially the closing phase I
maintain such info a lot. I used to be looking for this particular info
for a very lengthy time. Thank you and best of luck.

March 2017 Business Creation Index

realtor.org Commercial Headlines - Fri, 08/04/2017 - 09:00

Download (PDF 1.15MB)

The new Business Creation Index (BCI) was created to monitor local economic conditions from the perspective of NAR’s commercial members. The quarterly report offers insight from commercial real estate professionals into whether businesses are opening or closing by industry, population density, and subregion. On a monthly basis, it tracks three key questions related to local market conditions:

  1. An increase of businesses opening in local communities... Read More

Comment on 5 Ideas to Increase the Value of a Basement by Melissa

Styled, Staged & Sold - Wed, 08/02/2017 - 08:34

I’m not 100% sure “Adult Entertainment” is the phrase you’re looking for…