The real estate industry is undergoing rapid change like never before. The pandemic has significantly reshaped how agents, third-party providers and clients transact. Clearly, the need for digital real estate tools has quickly escalated from a “nice to have” to a critical “must-have.”
From the West Coast to the East Coast, agents and brokers are reporting more buyers looking to flee the cities and move to the suburbs. But with inventory as tight as ever, multiple bids are increasing while days on market linger in the single digits.
Today’s buyers and sellers don’t only expect a frictionless, digital transaction experience — they demand it. With nearly every product and service available digitally on demand, consumers are used to clicking to transact, from reserving travel and buying a car to ordering coffee.
Recently, we polled top agents and brokers nationwide and asked them how they’re delivering that ultimate customer experience in today’s fast-changing environment. Here are their top tips:
1. Expedite the Offer
In California, Daryl Rogers, President of Better Homes and Gardens Real Estate | Reliance Partners, Roseville, CA, finds well-priced, quality homes are listing for an average four days on market.
Being a rental property owner is something many strive for in their lives. This is because much of the time, owning a rental home is a great investment. The responsibility that goes along with it is great as well, though. Owning multiple rental properties only ups the stakes. As with anything else, there are a lot of disadvantages as well as advantages. Let’s go through some.
The advantages of owning multiple rental properties
Having multiple rental properties has plenty of upsides. Looking at the positive side of things first will hopefully make you see that the flaws aren’t that bad.
It’s always good to have a passive income
If you own multiple rental properties and are able to keep them occupied, not only will you have a steady and secure amount in your bank account, but you’ll also have a passive income. This is certainly always welcome.
A possible business opportunity
A great thing about owning multiple rental properties is that you don’t have to sell only to tenants who are looking for housing. If your property is in a desirable location, you could always rent it out to business owners. This could be a great investment opportunity.
Are you considering putting in a new roof? Sure, this isn’t a project that’s quite as popular and snazzy as remodeling your home’s interior. However, it does have some advantages, especially in improving your home’s resale value; not to mention the newer and nicer appearance, the improved warranties and lower bills. Still, there are a few different factors to keep in mind when thinking about a new roof over your household. With that in mind – we’ll take a look at some of the most pressing ones.
Your New Roof And Home Value
Naturally, one of the main remodeling ideas behind putting in a new roof is to protect your home beneath it. However, there are other practical advantages, such as having better insulation. Plus, if you’re going to use one of the newer roofing materials, your summers won’t be quite as unbearable; the heat will be reflected from your rooftops instead of being absorbed. In terms of comfort and lower utility costs for AC, this is a great relief.
And the functional additions aside, even if you just put in newer asphalt shingles, there’s an aesthetic appeal to think about as well. Of course, there are plenty of options available to you, including natural wood; many homeowners prefer it due to its objective and natural appearance.
Who’s Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility, and prominence in a field are all taken into account during the selection process.
Drawing upon his expertise in interpersonal communication, Mr. Tezak excels in numerous management and real estate positions. As the broker and owner of Realty Executives Premier, he has specialized in all areas of residential real estate since 2001. Years later, Mr. Tezak found success as the president of the eponymous Tezak Investments, which specializes in real estate investing and development in Northwest Indiana.
More recently, Mr. Tezak has thrived as a developer with Stonebridge and the co-owner of Premier Title Company of Northwest Indiana, which provides commercial and residential title services in the area. During the earliest years of his career, he gained valuable customer expertise in the field as a manager of table games at the Horseshoe Casino. An expert in his field, Mr. Tezak earned a Bachelor of Arts in business from Quincy University.
With social distancing regulations now largely in place across North America, many agents are prohibited from holding open houses.
But rather than sit idle, there’s much you and your clients can do now to prepare for the day when the wheels of commerce start rolling again. Buyers can improve their buying position, and sellers can get their homes list-ready with a few proactive steps.
While it can typically take two to three weeks to get a property on the market, some brokers are telling their agents to use this time to get homes list-ready now.
That way, once the shelter in place and stay at home orders are lifted, you and your clients can hit the ground running.
Be the first to market with these helpful agent tips and downloadable checklists for buyers and sellers.
1. Enlist sellers to take video tours
Ask your sellers to take a video of their homes now. For helpful video-taping tips, see downloadable Sellers’ Checklist (downloads as zip file). There are many easy-to-use digital platforms for creating virtual walkthroughs and 3D scans in addition to simple videos recorded on a smartphone.
It is almost always exciting to think about the potential that any property investment holds, particularly when you’re new to the business. While buying your first rental property is almost certain to be a lucrative maneuver, it’s important to proceed with care.
The good news is that all of the most common property investment mistakes have been made before, and with careful, in-depth research, you’ll find it easier to avoid them. Our real estate pros have been in your shoes: begin your quest for knowledge by using their investment tips to your advantage.
1. Still renting? Buy your own home before you invest in a rental.
There are tons of reasons to rent instead of buying your own home. But purchasing your own residence before you invest in rental property gives you real-world experience while easing your way into the financial side of things. When you buy your own home first, you’re likely to get better interest rates plus you’ll need a far lower down payment. There are tax write-offs to consider, too. When you’re ready, upgrade to a new home and use the old one as a rental, or continue to live in your home and invest in a second rental property.
These are rare times, when you’re forced to work from home and no commute! How could you spend your time? You could read Hemingway, tend that garden or binge-watch Netflix.
Or, you could use the time to polish your sales and tech skills, set up a lead nurture campaign or record a video email. Maybe find a new perspective on your business approach.
If you can’t show or sell houses right now, why not use the time wisely in other ways? Here are eight ideas.
1. Sync your CRM
Tag your As, Bs and Cs and note their sources of lead origination. By integrating your CRM with your transaction management system, you can leverage synced contacts to reach out to past and future clients in new, personal ways while better tracking your ROI.
“Working From Home” is a hot topic these days, and being good at it is far easier said than done. I would know, because for the majority of my 10 years in the real estate industry I’ve worked from home.
Fortunately, I’ve picked up some great tips from friends and have adjusted my habits to find what works best for me.
At a high level, it’s all about mindset — like starting a new job and learning to integrate into your new environment. Anyone can work from home, but if you don’t follow best practices, you can easily fall prey to distraction.
If you do it right, however, you might just find you increase your productivity with great success.
Below are some of the best practices and tips I’ve implemented. Please feel free to share with your peers.
1. Set Your Mindset
Take control of your environment. Focus on your goals as a habit, and learn to keep yourself in check. I try to leave my house early every morning and prepare my mind for the workday ahead in either my house or my mobile office. While it’s easy to get distracted by the dishes or laundry, remember: You don’t do house chores while at the office; don’t do them when working from home.
As agents and brokers try to make sense of the new normal with social distancing regulation in place, customers will increasingly look to you for solutions and support as they navigate the possibilities of buying and selling a home.
3D scans and video walkthroughs, virtual staging and video emails, social content and, most of all, lots of clear communication are just a few of the ways you can help your clients find home as we ride out these turbulent times together.
If you’re a real estate agent suddenly tasked with the challenge of transforming a high-touch business into a fully remote, digital operation, here are six ways to make it work.
Objection: “I’m too nervous to buy a house right now.”
Spring motivates a lot of us to do some much needed deep cleaning. It’s a good idea to take a few days to really cleanse your space and revamp your style. Cleaning and decluttering is a great way to start off the new season and fill your time. Not only does it clear your house, it also clears your mind!
Clean Baseboards, Cabinets, Doors, Windowsills, and Walls
Sound like fun yet? These are not typically chores we do on a regular basis, but a lot of crud builds up here, especially in kitchens and bathrooms.
Baseboards and window sills accumulate dust, dirt, hair and can become discolored. You’ll be amazed how much cleaner and brighter your space looks with freshly scrubbed baseboards and window sills.
Don’t forget to do the ones in the kitchen, too. Sticky food residue easily accumulates here and can attract bugs when the warmer weather sets in. Wipe down your walls and doors to get off the dirt and grime, especially the parts closer to the floor where the foot traffic is coming and going.