Posts Tagged as For Agents

Teardowns May Affect Your Business

Why the Next Property You Market May Have Fallen Victim to the Wrecking Ball

Could the next property you sell be worth more without the home or commercial building that’s on it? In some areas, real estate trends are pointing to a rising number of teardowns, especially in locations where uber-thin inventory levels are causing home prices to soar. Big cities and hot markets such as coastal and other scenic fare are taking a big hit.

Whack!
Zoning often allows for an apartment or small condo complex on land where a small, single family home, school, or commercial property once stood, making the land beneath some tiny buildings worth far more than the structure on top of it. A flip in traditional market logic where the lot accounts for a mere 10% of overall property value.

Crash!
Teardowns are especially attractive for builders and developers due to the glut of environmental hurdles and zoning issues associated with acquiring land. And the industry is increasingly taking notice of such real estate trends, with teardowns on the rise to account for 10% of all new home construction starts in 2016. That’s an increase of 7.7% from the previous year.

Bang!
Popular in the late 90s and early 2000s before the financial crisis, teardowns are increasingly becoming common in the western U.S., where housing costs are highest. Some 33,400 structures in the west took a hit in 2016, followed by 23,800 in southern regions, 12,300 in the Midwest, and 9,800 in the Northeast.

Boom!
Some of the homes taking the hit aren’t even in bad shape. In fact, buyers are dropping a pretty penny on small and seemingly insignificant homes – just to get the land and rezone it for a multifamily project, such as condos or apartments so they can boost value via added versatility.

Are you up on the latest real estate trends for producing smashing sales results? Find them at Properties Online today.

Let Property Movies Deliver Customers to You Like That Drone.

Real Estate Videos are Morphing into “Movies” in the Luxury Marketplace

Video usage in real estate marketing is already evolving. Going beyond drone shots, agents with luxury listings are now experimenting with cinema-like property movies. These short films feature actors, music scores, story arcs and Hollywood-quality cinematography, cashing-in on online video platforms that are rapidly becoming a key component of successful property sales.

Old-School Walking Tours are Obsolete
People are more easily attached to a story, following it through to the ending – even with performances more Razzie than Oscar. The best movies showcase properties in a way that helps buyers see themselves there.

Over-the-Top – or– Out-of-this-World Publicity?
In some cases, homes cost more than making a movie, and sellers are looking for a little red carpet marketing treatment. How is video usage in real estate marketing playing out for this luxury fare? Movie-like examples include:

• A 14,230-square-foot Bel-Air home that sold for $39 million, marketed with a video featuring 2 kids who take a note from Ferris Bueller, playing hooky to splash in the home’s infinity pool, whack golf balls over the L.A. skyline from their yard, try on outfits in large walk-in closets, and have a puppy delivered by drone.

• Another home, a 5,500-square foot 5-bedroom Hollywood estate listed for $3.65 million, featured a fictional narrative of a couple passionately arguing their way through the sleek, contemporary estate, revealing high-ceilings, high-tech security, and marble fireplaces. The wife chucks her diamond ring in the pool, and the husband is kicked-out, showcasing the neighborhood.

Funding Production
Movie-style marketing videos can cost anywhere from $5,000-$30,000 plus – but they’re not only for extravagant fare. Consider another take: A lower-budget trailer for a 3,008-square-foot-home featuring little girls at a sleepover, traversing the home and ending with a late-night living room dance-romp to Taylor Swift.

Ready to add a little more sparkle with video usage in real estate marketing? We’ve got many ideas. Learn how PropertiesOnline can help you boost your business today.

Millenials Flock to Home Auctions

Moving Millennials Into the Home Buying Marketplace – Creating the Desire to Own

Will your neighbors’ millennial children (or your own) ever move out into their own homes? More than 76% of millennials report they’d like to buy a home, and real estate trends correspond with this, pointing to the high traffic volume on online real estate platforms. Millennials want to make a move, but why aren’t they opening the door? The answers are surprisingly simple.

No Dinero
Affordability is a major issue in the vast majority of U.S. cities. With a low to no affordable housing supply, demand has pushed prices into the ‘are you kidding me’ category for a generation who’s battling baby boomers for job positions. Underemployment and fickle freelancing, with its irregular cash flow, are rampant.

Give Me Some Credit
Getting credit for a home is likewise tough, and the country’s student loan debt crisis isn’t helping matters. Over 44 million borrowers owe $1.3 trillion in outstanding student loans across the U.S. The average ‘Class of 2016’ student is graduating $37,172 in debt, a number which has risen over the past 5 years.

Could You Hand Me a Band-Aid?
In the long-term, builders (with some incentive from local government), could help heal affordability issues. Added federal programs: (1) may or may not increase access to financing; and (2) find creative ways of dealing with student loan debt. But how can you tap into this market now?

Let the Bidding Begin
More millennials are buying auction properties than any other age group, with market changes breaking down previous barriers to entry. Buyers under 35 are the most likely to purchase a home in foreclosure. Here, marketing such listings to the public via an online strategy can net you great results in the millennial market. With a good listing video, a total online purchase isn’t out of the question for this genre.

Go all-in on the latest real estate trends. Open-up to new opportunities with Properties Online today.

Keep Your Public Relations Good

Zillow Tries to Enforce Photo Copyright with Popular Blogger

In real estate news, it’s a case of David meets Goliath as a graduate student supporting herself via her website faces off against Internet giant, Zillow.

Meme Me in Court
Kate Wagner’s site, McMansionHell.com, spotlights large, architecturally-icky houses on her site, making memes out of home-listing photos to point out the less-than-stellar features of such ostentatious home fare.

The 23-year-old master’s student from Baltimore, working her way through a thesis in architectural acoustics, stated she was petrified when she received a letter from the real estate database giant just a few weeks ago, instructing her to cease-and-desist using the website’s photos. “It’s pretty terrifying when someone sends you such a letter.”

Tweet This
Wagner posted Zillow’s letter to her blog’s Twitter account, receiving enormous public support – and legal advice – from about 200 lawyers. She then retained Electronic Frontier Foundation (EFF) to represent her, pro bono.

The following day, Zillow’s downtown Seattle headquarters was plastered with colorful signs denoting “MCMANSION HELL FOREVER.” Wagner has earned about $24,000 since her website’s inception a year ago. It’s been her primary source of income in her quest to pay rent, eat, and earn her master’s.

Bad Press is Not Necessarily Better than None
The PR backlash shocked Zillow, who had to perform damage-control on national and local news sites. Vice President Katie Curnutte, Zillow’s head public affairs guru, defended the company, noting that Zillow doesn’t own the rights to most of the photos it uses – it licenses those from other parties. Their exclusive access is allowed under a users’ agreement.

According to Zillow, if they allowed other sites to publish these photos, it would become difficult to obtain them from realtors. Their letter wasn’t intended to be personal and their lawsuit has since been dropped, with the agreement Zillow’s photos won’t be used going forward.

Real estate news a bit scary? Fight the big, bad uglies with the help of Properties Online.

Should You Consider Buddy Agent for Agent to Agent Referrals?

Should You Consider Buddy Agent for Agent to Agent Referrals?

In this week’s real estate broker tips, we’ll take a look at Buddy Agent, a newly introduced brokerage-centric platform designed to help today’s successful real estate agent achieve work-life balance. Should you use its real-time data advantages to better build your brokerage’s internal culture?

Houston, We Have a Problem
One of the biggest problems every real estate agency faces is star agents that are just too busy to keep up with their volume of leads, while other agents simply can’t stay busy enough and struggle to earn enough income. This can lead overburdened agents to miss out on important personal life events, from their kid’s big game to countless weekends – and even entire family vacations. It can also lead burgeoning yet struggling agents experiencing common growing pains to leave for presumably greener pastures in their efforts to earn enough income to cover basic expenses.

Buddy Agent to the Rescue
Buddy Agent’s mobile and web app attempts to solve this problem. A self-service system for agents, it requires no additional work from brokers. Rather than letting money walk, the app keeps clients and commissions within the firm. Overbooked agents – or ones simply enjoying time away – can select from a list of favorite fellow agents, quickly locating the right agent, at the right location, and with the right expertise to manage the task at-hand, creating a trusted, on-demand team that works well together. No more burn out. No more disappointing family, friends, and clients with a relentlessly busy schedule.
The app is flexible, featuring iOS, Android, or web-based operation, with a free initial trial and special introductory pricing. Visit http://www.mybuddyagent.com/ to learn more.

It’s always good to have more than one buddy backing you up. Simplify your life with this and other real estate broker tips and tools from Properties Online today.