Allison Gamber, executive director of the Cove Center for Grieving Children and Brooke Veins, program coordinator, join Joe Aguiar to discuss their two big fundraisers! The 4th Annual Hope & Healing Virtual Auction on March 23rd-25th, 2023 and The Cove Kids’ Classic at Lyman Orchards on May 5th!
Chris Sawyer from Annie Mac Home Mortgages joins Joe Aguiar to help answer questions and to get to know both Cash Offer and Buy Now Sell Later programs. This is great info for buyers, sellers and other real estate agents!
https://chrissawyer.annie-mac.com/ or email
Csawyer@annie-mac.com
http://www.ctbbrealty.com/meet-the-team
Email Joe@BBrealtyCT.com
https://www.clovercrestmedia.com/closingtimepodcast
Closing time
Homebuyer Bidding War Rate Drops to 2021 Low in September
59% of home offers faced competition in September, the lowest level in nine months, amid a seasonal housing-market slowdown and an uptick in mortgage rates. That’s down from a revised rate of 60.8% in August and a peak of 74.3% in April. September marked the fifth-straight month of declines, putting the bidding-war rate on par with the level seen a year earlier (58.3%).
Home Prices Rose Twice as Fast in Car-Dependent Neighborhoods as Transit-Accessible Areas During the Pandemic
Home prices in car-dependent areas are up 33% since before the pandemic versus 16% for transit-accessible neighborhoods, reflecting the rise in remote work and the declining importance of proximity to public transportation.
It’s like a suburb tax..
Single Buyers Face Hurdles as Starter Homes Dwindle
The number of one-person households has doubled over the last four decades, but supply of entry-level housing is near a 50-year low.
Australian town is inundated with inquiries after offering free land to new residents
Quilpie, a town of 800 people, has received more than 250 inquiries for its housing program
The Quilpie Shire Council is offering a grant equivalent to $9,400 to anyone who buys land, builds a house there for less than $560,000 and lives in it for at least six months. Quarter-acre blocks of land sell for about $9,400, so the land is effectively free, although only Australias or permanent residents are eligible.
On the heels of a roller-coaster stock market and emergency rate cut from the U.S. Federal Reserve as fears about the spread of coronavirus (COVID-19) impact the U.S., mortgage rates hit a historic low this week. The average 30-year fixed-rate mortgage plummeted to 3.29 percent, an all-time low, according to Freddie Mac.
“The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history,” Freddie Mac Chief Economist Sam Khater said in a statement. “Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down.”
How to turn past clients into repeat business
According to the 2020 NAR Home Buyer and Seller Generational Trends report, 75 percent of buyers and 73 percent of sellers said they would definitely use their real estate agent again or recommend to others. This is why it’s the responsibility of agents to stay memorable to their clients, and why they should make that a priority.
1. Remember holidays
Holidays are an excellent way to keep in touch with your past clients and remind them that you’re still around. Sending out a cute, handmade holiday card, or even a box of chocolates, helps remind the client that you’re looking out for them, and that you’re keeping them in mind. Once the time rolls around for them to move out, they will feel familiar and more willing to work with you.
2. Make social media your best friend
We are so blessed to be living in an age where we can brand ourselves and curate a target audience that can keep up with what we’re doing every day. You should use this to your advantage in your business. Social media can become a way for your clients to see how your business is unraveling. Plus, they can keep in contact with you right from their pockets.
3. Take advantage of the CRM
Keeping track of all your clients can become tedious. It requires a lot of effort and dedication to keep all of your data in order. CRM (Customer Relationship Management) is a true blessing for real estate agents. Not only does this automated marketing tool help you stay organized, it also reminds you when to interact and stay up to date with your clients.
4. Have fun with your career
If you interact and close with clients in a transaction style and restart from scratch after every year, you will just end up losing morale and motivation in your career. A huge part of being a real estate agent is building interpersonal relationships; this is how you get your strongest form of clients (return and referral). If you treat being a real estate agent like a job, it will feel like — a job. If you treat it like a career, you will be able to grow and become very successful.
Barbara Corcoran loses almost $400K in phishing scam
“Shark Tank' star and founder of The Corcoran Group, Barbara Corcoran lost money after approving a fraudulent money transfer. She's just the latest victim in a growing trend..
Corcoran’s experience highlights the growing and high-stakes threats posed by scams, which typically involve an email that looks legitimate but in fact dupes the victim into wiring money to a thief. The incident also reveals how no one, even famous people, are immune.
In Corcoran’s case, she is likely to emerge from the scam fairly unscathed. After founding the Corcoran Group in 1973 with just $1,000, she went on to sell it to Realogy in 2001 for, according to The Wall Street Journal, $66 million.
Corcoran subsequently went on to appear as an investor in nine seasons of the TV show Shark Tank, and today her net worth is estimated to be $80 million.
But not everyone who falls victim to similar scams is so fortunate.
In one recent high-profile incident, a California couple lost more than $700,000 after following wiring instructions in a fraudulent email that appeared to come from their real estate agent.
Another incident in 2018 resulted in an Oregon man losing $122,850 — money he and his family had saved for a down payment — to a similar scam
Analysts have said that real estate makes an especially tempting target for scammers because it involves high-dollar transactions that often have online components. And last year, the Federal Consumer Protection Bureau (FCPB) warned that phishing scams rose a staggering 1,100 percent between 2015 and 2017.
Broker dresses up as Joker clown in marketing video
Broker AJ Powers put on face paint and a clown suit to show why so many agents fail not long after joining the industry.
Powers released a 10-minute video in which he dresses up as a clown before transitioning into a successful real estate agent in a marketing video. He owns real estate firm Powers Premiere and leads a series of agent mentorship programs, for which this video is a recruitment tool.
The idea, California-based Powers told Inman, was to show a number of mistakes new agents make when first joining the industry — not dedicating themselves to the job, squeezing in open houses between other projects and expecting to start bringing in money without doing any training or learning anything about the industry.
The point he wanted to make is that you have to be serious and stop clowning around with your real estate career..
Zillow beats back one lawsuit, but can't shake another
Real estate giant Zillow has beaten back an antitrust lawsuit regarding its Zestimates, but continues to fight another lawsuit stemming from its agent-lender co-marketing program.
The first was brought in 2018 by New Jersey-based company EJ MGT which owns 142 Hoover Drive, an 18,000 square-foot, seven-bedroom, 10-bathroom home in Cresskill, New Jersey. The company blamed the home’s failure to sell on buyers being turned off by the Zestimate on the property’s detail page on Zillow.com, which put the property’s value at less than half of the listing price: $3.7 million (Zestimate) vs. $7.8 million (list price).
In a separate case, the court rejected Zillow’s bid to toss a lawsuit from a group of shareholders that alleged Zillow senior staff and its board of directors failed to protect the company properly while allowing it to violate a federal anti-kickback law through its agent-lender co-marketing program and made misleading statements about the program’s compliance.
The case is related to class-action securities fraud suits brought by shareholders against Zillow in August and September 2017 after the company divulged the Consumer Financial Protection Bureau had been investigating its co-marketing program for the previous two years for compliance with the Real Estate Settlement Procedures Act (RESPA).
Spencer Rascoff, a co-founder and the former CEO of Zillow Group listed his Brentwood Park, Los Angeles home for $24 million on Thursday, which is nearly $8 million more than the Zestimate, Zillow’s often-maligned automated valuation mod...
Closing time 2/23/20
How to avoid overpricing properties in a shifting market
According to the 2019 NAR profile of home buyers and sellers, 40 percent of sellers had to reduce their price at least once. If prices have already peaked in your market and have now started to decline, an even greater number of sellers will be reducing their listing prices in the very near future.
signs prices have peaked
In addition to an increase in inventory, what are the other tell-tale signs that your market has peaked?
A major challenge in declining markets? Comparable sales
If you’re seeing any of the early warning signs above, there’s another danger lurking ahead: If prices have begun to decline, the comparable sales you’re using to price the property may be too high.
Convincing sellers prices are decreasing
This may be one of the most difficult challenges in the business. One strategy that works extremely well with most sellers, including CPAs, attorneys and banks, is to select the appropriate comparable sales for the last six months and then calculate the average price per square foot for those properties that closed during that time period.
Overcoming ‘We can always wait!’
Even if you employ all of these approaches, some sellers will tell you, “We’ll wait until the market gets better.” To overcome this objection, show them the cost of waiting.
Prepare now
If your market has begun to slow down, mastering the declining market conversation is critical. Start preparing now so you’ll be ready if and when one of your high-end listings, or your whole market, slips into down market territory.
Keller Williams to end lifelong profit share program for defectors
A group of top Keller Williams earners, market center owners and regional leaders have gotten their way: As of April 1, 2020, KW associates that jump ship to a competitor will no longer be able to receive profit shares from the company’s lifelong revenue program.
The policy is not retroactive and will only apply to associates that join on or after April 1.
Keller Williams’ International Associate Leadership Council (IALC) made the change Feb. 15 at the franchiser's Family Reunion conference in Dallas, Texas. The council also increased the profit sharing vesting period, which is how long a KW associate has to be with the company before lifetime profit share benefits are unconditionally bestowed, to seven consecutive years, up from three consecutive years.
The policy changes are mandatory and must be implemented by April 1
The changes seem to be the result of efforts made by a group of top KW earners last year to change the profit share program to limit it to associates that remain with Keller Williams.
Keller Williams declined to comment on the rationale behind the changes and on whether they would affect agent recruiting. The company has 159,372 agents in the U.S. and Canada and a total of 169,317 agents worldwide, as of Dec. 31, 2019. The company has lost agents in four consecutive months.
7 facts about FHA loans you should know
1. Homeowners don’t have to pay FHA mortgage insurance forever.
FHA’s “life of the loan” policy on mortgage insurance is one of its most unpopular features. Many first-time buyers shy away from FHA when they learn that FHA requires them to keep their FHA mortgage insurance as long as they have an FHA mortgage.
2. You can qualify for an FHA mortgage only two years after a bankruptcy and three years after a foreclosure.
In line with its mandate to provide mortgage credit to under-served populations, FHA is more lenient than many conventional lenders on giving qualified borrowers a second chance after foreclosures and bankruptcies.
3. You can get an FHA mortgage with a much lower credit score than a conventional mortgage.
Borrowers with credit scores as low as 580 can qualify for FHA financing with 3.5 percent down. Scores between 500 and 580 can be eligible for mortgages with 10 percent down.
4. FHA loans usually have lower interest rates than conventional loans.
There’s no guarantee that FHA-approved lenders will give you a better rate on an FHA loan than a conventional one, but they usually do.
5. FHA is not for everyone. Investment properties, second homes and higher-end homes don’t qualify.
FHA will not finance second homes, vacation homes, investment properties, or flips (a property purchased within 90 days of a prior sale.) Properties must be primary residences where owners live for the majority of the year. The FHA requires that a buyer moves into the property within 60 days of closing.
6. FHA is kind to debt limits but tough on deferred student loan debt.
Lenders assess a borrower’s ability to handle a mortgage by the debt-to-income ratio. The “front-end” ratio looks at housing-related debts only (monthly mortgage payments, property taxes, etc.). The “back-end” number takes all recurring monthly debts into account. This can include the mortgage payment, credit cards, car loans, etc.
The current (2019) limits for FHA debt-to-income ratios are 31 percent for housing-related debt (mortgage, property taxes), and 43 percent for total debt or less. In December 2019 the actual average DTI for FHA purchase loans was 28 percent front-end and 44 percent back-end. For conventional purchase loans, the DTI average wasmuch lower, at 23 percent for housing expenses and 36 percent for all monthly debt payments .
7. If you have a good credit score, you will pay more for FHA mortgage insurance than private mortgage insurance.
A study last year by...
How to help sellers (and keep your sanity) through a messy divorce
Transactions involving divorcing couples can take longer than “traditional” real estate deals due to the legal complexities of what is required in a marriage dissolution suit and the time it takes for the parties to decide on various matters concerning their real property.
You must be patient if you take on a divorcing party. You will also need to show compassion toward them as this is probably one of the most, if not the most, difficult times in their lives.
Divorce transactions take additional skills and know-how, as no two deals are alike. Each phase of the listing period and the time between contract and close can be time-consuming and exhausting, sometimes due to unexpected drama or one or both of the parties’ attorneys delaying the closing.
Here are six tips I would encourage every real estate professional to use when working with clients who are, or soon will be, in the process of a divorce:
1. Communicate with the divorce attorneys
2. Recognize that emotion is driving a lot of the decision-making
I have yet to be involved in
3. Keep the process professional and on track
4. Set the list price
In a divorce listing, it is critical everyone agrees on a list price.
5. Communicate with all parties on a regular basis
During the listing and contract-to-close periods, it is critical you communicate with both parties on a regular basis
6. Remain neutral
Finally, and perhaps, most importantly, when working with divorcing sellers, remain impartial at all times.
One of the parties may try to vent to you about the other one doing or not doing something, but you must never take sides. You should never state how you feel or offer any advice outside of your real estate expertise.
Coldwell Banker to waive franchise fees in bid to boost diversity
In a major new effort to increase diversity among its ranks, Coldwell Banker announced that it will waive franchise fees and give other financial support to would-be franchise owners who self-identify as minorities.
The new offering — dubbed the Coldwell Banker Diversity in Ownership Program — is available now to any real estate professionals who identify as racial or ethnic minorities, as well as women, military veterans and agents who identify as LGBT. Members of those groups can apply for the program and, once accepted, will be able to start a Coldwell Banker franchise without paying the normal $25,000 franchise fee.
Additionally, program participants will get up to $100,000 in funding support from Coldwell Banker, receive mentoring opportunities, two years of royalty fee rebates, and complimentary membership in various industry organizations such as the National Association of Real Estate Brokers (NAREB) and the National Association of Gay and Lesbian Real Estate Professionals (NAGLREP).
Ring captures open house burglary
A Ring camera captured a burglary at an open house now being investigated by police in Summerlin, Nevada.
An agent was showing the home on South Hualapai Way and West Sunset Road when six suspects entered the home briefly before walking out around 3 p.m., according to the Las Vegas Review Journal. Later, four of the suspects returned, with one distracting the agent as the others ran upstairs into a master bedroom.
The agent followed the suspects and reported seeing a man with a bag of designer items and, after seeing the agent, dropping some of the contents of the bag and running off with about $4,000 to $5,000 worth of property.
Open houses have been home to numerous burglaries and attacks over the years. Real estate safety experts recommend removing any cash or valuables and, especially for agents, never being in a home alone during an open house.
'How rude': Original 'Full House' home gets $500K price cut
Originally listed for $5.999M, the San Francisco Victorian home used to tape the iconic family sitcom is now up for sale for $5.499M.
The Tanner family home is not proving to be an easy sale.
After nearly a year on the market, the San Francisco Victorian home used to taped the iconic family sitcom has been cut down by $500,000. Originally listed for $5.999 million, it is now up for sale for $5.499 million.
The home, located at 1709 Broderick Street, was built in 1883 by Charles Hinkel Lewis. It exemplifies the type of Victoria Italianate home that has now come to be synonymous with San Francisco architecture — three stories, bay windows and a flat front of light walls.
Rachel Swann of The Agency is the listing agent representing the property. It is currently owned by “Full House” creator Jeff Franklin, who bought it for $4 million in 2016, and had originally planned to turn it into an homage to “Full House” fans — he even went so far as to paint the front door back to the red it was during the filming of the show.
Closing Time Episode 30
‘Right to Housing’ gains traction among top legislators heading into the session
There are about 3,000 homeless people who live in Connecticut. With that number in mind, legislators and advocates rallied around housing reforms – dubbed “Right to Housing” changes – to reduce homelessness, bring down housing costs and confront housing segregation.
It’s an effort to ensure that every resident has access to housing in one of the most expensive places in the country to live.
“Right to Housing” is not a new concept worldwide – France, Scotland and South Africa have such protections in place, But Connecticut, which has some of the most expensive housing stock in the country, is one of the first states to consider such a push.
Specifics of what that agenda will look like are a work in progress. But initiatives embraced by the Democratic legislators include making it easier for lower-income residents to purchase homes, putting tenant protections in place to reduce eviction rates, building more affordable housing and making some state aid contingent on well-off communities allowing more affordable housing construction.
The chairs of the Housing Committee on called the governor’s approach a decent one, but not enough by itself. It’s a good start.
A healthy and expanding economy ripe for explosion
According to Brad Inman, the real estate industry is ripe for explosive growth and drastic transformation as an expanding economy, robust housing market and a second wave of technology innovation pushes members and consumers of the industry to adopt new modes of home buying and selling.
Expanding economy
Despite past worries about an impending recession, Inman said the economy is healthy and expanding — 120 million Americans have jobs, unemployment has dropped to historical lows, Americans’ average net worth is growing, and 150,000 to 200,000 jobs are being created each month.
A robust housing market
Inman said 2020 will be more steady with sales expected to increase to 5.5 million by year’s end. In addition to bolstered home sales, the total value of the residential housing market will continue to rise.
A second wave of tech innovation
Inman says, “For 25 years, the technology boom in real estate centered around the marketplace of the MLS and broker compact and building productivity tools,” “That was phase one, and we’re moving into phase two, and creating a second marketplace, called the The iMarketplace.”
Agents' margins 'at risk' as real estate industry evolves: Ron Peltier
HomeServices of America executive chairman Ron Peltier urged real estate professionals to focus on the customer experience if they want to survive a changing industry.
Real estate’s evolution in recent years has placed agents’ profits “at risk,” one industry leader argued, explaining that they need to evolve into more comprehensive service providers who focus on customer experience.
Real estate professionals who want to defend their margins need to think of the transaction as “just the beginning of the homeownership experience.” If they want to succeed in the business, then, they should work to become a point of contact for their clients other needs.
I don’t think anyone who isn’t successful hasn’t figured that out yet..
Ever wonder exactly what to say? Here’s the scoop
Top producers know what to say, how to say it and when to say it. In the book, “Exactly what time say for real estate agents” they explain how certain “magic words talk straight to the subconscious brain.”
these words circumvent “maybes” by creating “yes” and “no” answers, they enable your clients to make decisions without over-analyzing them.
When you offer someone the chance to object, they almost never pass it up.
Questions are important because:
Consequently, the secret of sales success, as well as communicating more effectively in any situation, is asking better questions.
Don't pretend to have all the answers: It could come back to bite you
If you have established a good rapport with your client and develop a strong relationship, they’ll probably ask for advice. Sometimes their request for information might be very specific and complex. Providing clients bad information could lead to a lawsuit or state regulatory agency complaint. Don’t do it!
We are not home inspectors, structural engineers, roofers, plumbers, electricians or appraisers. We are licensed real estate agents who have the education and training to assist buyers and sellers in purchasing or selling real estate.
The moral of the story is, if you’re not sure, don’t guess, and never provide your client anything that’s based on what really amounts to a rumor.
Family hit with $100K HOA suit due to playscape for terminally ill son
It’s January 24th, and we might have already found the worst person of 2020.. Neighbors sued the family of a terminally ill boy... for allegedly violating homeowner's association restrictions on his playscape.
The Costa family of Georgetown Texas has a 3 year old son named Colton, who was born with Hurler’s syndrome, which is a terminal genetic disorder of the cells, tissue and organs.After getting the diagnosis, mom and dad let him pick out the biggest playscape with the most slides.
But the Costas are now being sued by the Gottleib family for violating the Homeowner’s Association restrictions, because the playscape is 14 feet tall, and cannot be screened from view. In the lawsuit, the Gottleibs are seeking $100,000 (an amount they clarified was required by the state in order to file suit), the cost of legal fees and for the playscape to be torn down or brought to codeColtons mom says “statistics say he shouldn’t live past his twenties,” but an active lifestyle may aid in slowing the progression of the disease.
The Building Committee said that the Costas did submit plans for the playscape in accordance with their protocols, but declined to comment on whether or not the plans had been approved before the Costas began constructing the playscape because of the impending lawsuit.
Despite friction from the Gottliebs, the Costas’ nice neighbors showed their support by placing pink foam hearts with supportive messages inscribed on them on the Costas’ lawn.
Italian town is selling dozens of $1 homes
Bisaccia, a picturesque destination in Italy's southern Campania region, is putting 90 dilapidated buildings on the market for just one euro, joining other towns across Italy trying to save dying communities by incentivizing people to move there.
Unlike other towns and villages offering deals for people committing to one-off renovations, Bisaccia's officials say its tightly clustered architecture lends itself to more communal projects.
As is usual with Italian bargain home offers, buyers are expected to commit to renovating their newly acquired properties, but unlike in other towns, there's no stated investment level or time frame to complete the work.
'Oh god let's leave': Serial killer's 'torture basement' horrifies agent
Stewart Weldon is awaiting trial for allegedly killing 3 women. His former Massachusetts home is for sale, and this week, it traumatized a couple who visited the home with an agent
The house is in Springfield, Mass and you can see it in Zillow, which describes the 1,026-square-foot property as “cozy,” “well cared for,” and a “great house for first time buyers.” It has two bedrooms, one bath and the asking price is $137,500.
What the listing doesn’t mention is that it is also the former home of accused killer Stewart Weldon, who was arrested by police in May 2018 after he fled from an officer who tried to pull him over for a busted tail light. When the cops caught up to him, they found a woman in his back seat who said she had been tortured and beaten in the home. Terrible story.
The would-be buyers wondered aloud to their agent why a basement would need soundproofing, and that’s when the agent reportedly replied “oh god let’s leave, I know why this house is still on the market,” and got the couple out of the home.
The agent then apparently explained the issue and apologized, but the experience of viewing Weldon’s former home appears to have left the would-be buyers traumatized.
It’s listed well below market value and is obviously still available.
|
|
Agent extinction is not inevitable — if you're on top of your game
Troy Palmquist, who is licensed in 4 states and a broker in 3, wrote a great piece about agent extinction and how to avoid it. He says No robot, algorithm or flashy new platform can replace good, old-fashioned, human interaction. It’s that plain and simple. But it’s up to us to ensure we don’t get left behind.
Be the best you can be. It’s crucial to continually take the steps to become as highly skilled and highly trained as you can. Know your markets backward and forward.
Know your clients’ needs backwards and forwards. Be like a fighter pilot: You need to use your heightened situational awareness, knowledge, networking and multitasking skills at full throttle during every transaction. He does a whole Top Gun thing for us Gen Xers.. It's a great piece, the lesson to learn is that technology is transforming every industry including ours and we need to stay sharp to survive. Nurture your sphere of influence, and master your CRM.
New text and email 'gift card' scam targets agents directly
Real estate con artists are impersonating popular real estate agents online and then asking their colleagues to purchase gift cards on their behalf. We've seen these sent in our own broker's name since last summer, but Arkansas Attorney General released a report about a new wave of these scammers going after Realtors. The fraudsters will seek to gain your trust by impersonating popular agents or brokers online.
Through emails and texts, the conmen will reach out to that agents colleagues listed on the website with requests to purchase gift cards worth hundreds of dollars — some have even gone so far as to say that they were “closing gifts for clients” and that would be paid back by the brokerage. The Arkansas state report has also seen scammers target agents and homebuyers with emails telling them that their payment method has suddenly changed.
The original 'Texas Chainsaw Massacre' house is taking in visitors
The spooky, Victorian house that was used in the original “Texas Chainsaw Massacre” is inviting fans to an overnight screening of the film. The property is in Kingland Texas, and is the setting for the Sawyer family to carry out its cannibalistic attack on the lost hitchhikers. March 29th and 30th, you can join horror actor Kenny Caperton for the scariest sleepover of your life. Caperton, by the way, owns a life-sized replica of the Mike Myers house, so it will be worth the price of admission. Visitors will sleep on air mattresses, view the film, enjoy a barbecue and play trivia and board games with a horror theme. Tickets range from $350 to $400. https://www.myershousenc.com/onsetcinema
John Travolta sells Los Angeles estate to record exec Scooter Braun
Actor John Travolta and his wife Kelly Preston sold their longtime Los Angeles family home to record executive Scooter Braun for $18 million. The Los Angeles Times reported that it was an off-market deal. That is not uncommon when it comes to celebrities and millionaires.
The 2.35-acre Brentwood estate was built in 1949, has a 9,100-square-foot main house, a guardhouse, two garages, a tennis court and a swimming pool. It had been the couple’s family home since the 1990s, the two-story main residence has 10 bedrooms, 10 bathrooms and views of Laurel Canyon.
Braun also owns the compound next door.. and while he might not be a household name, his record company, RBMG Records, counts Justin Bieber and Ariana Grande among its clients...
January is Agent Appreciation Month, and with that in mind, it’s time to re-evaluate your safety protocol. A 28-year-old mother and real estate agent was found fatally shot in a Minneapolis alley, after being taken kidnapped by someone who was targeting her and her boyfriend. She was lured into showing a home and snatched.
It is so important to meet your client for the first time at the office.
Have a buyer consult in your office.. with other agents present.. Instead of just getting a random call and meeting in an empty house with no electricity.
Most of the time these things are random, but I’d someone were targeting you, this would be the easiest way to do it. So treat every appointment the same way. Cautiously.
A real estate portal's path to market power: a Zillow case study
https://www.inman.com/2020/01/07/a-real-estate-portals-path-to-market-power-a-zillow-case-study/
Zillow’s drive to dominance in the greater New York City real estate market thru rental listings and its hyperlocal Hamptons portal — reveals the path to market power of real estate portals around the world.
All real estate portals follow a simple formula for national domination: acquire listings, build consumer traffic and monetize.
Building a huge consumer audience and achieving traffic dominance, which takes a long time, is the critical step. After that step comes power: The power to monetize, the power to push out competition and the power to force adoption of your platform by recalcitrant customers.
Zillow’s new pay-per-listing subscription to a free model for agents is a step backward in its monetization journey. But its more of a tactical retreat designed to give the a a long-term, strategic advantage.. by allowing agents to post new listings directly — for free — Zillow will circumvent brokerages and handicap their portal.
What the 2020 presidential candidates are saying about housing
Housing hasn't been a real focus for the Democratic contenders, but that hasn't stopped some candidates from releasing comprehensive housing plans.
President Donald Trump, who will be running for a second term in 2020, is in favor of fewer regulations, an easier permitting process for building and, at least verbally, lower property tax bills.
The Trump administration has also taken aim at reforming Fannie Mae and Freddie Mac and weakened tenant discrimination protections.
Sanders unveiled a “housing for all plan,” to build 10 million permanently affordable housing units at a $2.5 trillion price tag. He also calls for national rent control, stricter tenant protections and a strengthening of the Fair Housing Act.
Sanders plans to impose a 25 percent tax – being called a ‘House Flipping Tax’ – on speculators who sell a non-owner-occupied property, if that property is sold for more than it was purchased within five years of purchase.
Warren introduced the American Housing and Mobility Act which aims to close the supply-demand imbalance by 2028, add 1.5 million new jobs to the market, and decrease rents for low-and-middle-income families by 10 percent — all without a long-term deficit impact.
Warren wants to institute a grant program to rebuild infrastructure, invest in bolstering affordable housing stock and help buyers still with negative equity from the housing crisis.
To cover the expected $500 billion cost of the bill, Warren would return the estate tax thresholds that were in place at the end of the George W. Bush administration and institute, “more progressive rates,” about those thresholds, which she says will only affect roughly 10,000 of the wealthiest families in the country.
Biden’s website mostly stays away from focusing on housing issues, but in the criminal justice reform section, Biden unveiled a plan to, “set a national goal of ensuring 100 percent of formerly incarcerated individuals have housing upon reentry.”
As part of his “Economic Agenda for American Families,” Buttigieg plans to invest $430 billion, to “unlock access to affordable housing.” Buttigieg said his plan would increase the supply of affordable housing, and work to address zoning laws to make it easier to build housing.
He also plans to introduce a Community Homestead Act – which would, “launch a public trust that would purchase abandoned properties and provide them to eligible residents in pilot cities while simultaneously investing in the revitalization of surrounding communities.”
Buttigieg also wants to expand tenant protections against evictions and harassment.
Klobuchar introduced a comprehensive housing plan based after the Saving for the Future Act.
Klobuchar plans to undo the Trump administration’s changes to the Affirmatively Furthering Fair Housing and also plans to reinstate the Office of Fair Lending and Opportunity’s enforcement and oversight powers.
Kloubacher’s comprehensive housing plans also include strategies to address the rural housing crisis, help seniors age in place, increase access to affordable housing and encourage investment in distressed communities
Klobuchar plans to raise the capital gains rate to the income tax rate for households with an annual income of over $400,000 and raise the corporate tax rate to 25 percent.
Booker’s housing plan includes a renters credit to cap rental costs at 30 percent of income for certain Americans, the construction of new affordable units, a reform to zoning laws and the introduction of “baby bonds,” or a $1,000 savings bond for every child.
How Wealthy Towns Keep People With Housing Vouchers Out
https://www.propublica.org/article/how-wealthy-towns-keep-people-with-housing-vouchers-out
Section 8 vouchers are meant to give low-income people the opportunity to live outside poor communities. But discriminatory landlords, exclusionary zoni...
Stay up to date
For any inquiries, please email us at hello@podcastworld.io