Beer School Of Real Estate

How to Generate Sales From Your Email List

Edd Habegger — Thu, 30 May 2019 14:22:43 +0000

By Mark Mathis, VP of Sales for Homes.comSuccessfully generating leads with an email list is a matter of figuring out what segments you should divide your list into and determining what each of your segments will find valuable. How well you segment your market and deliver meaningful messages to those individual groups determines the level of success you can achieve with your email list.

“Buyers” and “sellers” are not specific enough niches. Don’t be afraid to get really granular with your groups or to enroll your contacts in more than one relevant list. If your contact really does have a particular need or interest, then they will appreciate the information they receive as part of the group.

So how do you determine what groups you should set up? Sometimes it is easier to start with the message you want to deliver, and then identify the group who would benefit most from that information.

Special Problems
Look for common problems you can offer a solution to. If you live in a college town with a lot of student housing, helping parents with college-aged kids find housing is a great place to start. Go through your email list and find the people with kids in high school and start sending them information about buying vs. renting during college and lists of the best student housing locations.

Those same people may also benefit from being added to your downsizing list if their kids are moving away. Starting with problems, you can identify several groups of people that you can help in very targeted ways.

Lifestyle Changes
Big life events often affect housing requirements. Is one of your contacts having a baby? They may be looking for a bigger yard or a better school zone. Are they getting married? Then they are probably moving out of their current house and getting a place together. Whatever the event, if you have a content plan for them and a group to add them to, then your chances of helping them with that housing change are much better.

The groups you create will often be permanent, but the people in each group will change over time. People will need to be moved from one group to another as they go through the phases of their life, and if it all goes to plan, you could be there to help them with each of their moves.

Special Data
In the old days of real estate, you had very limited access to listing without a real estate agent. Lists of available properties were printed out, locked in the broker’s office, and buyers had to come see you to know what was for sale. Now anyone can easily find listings anytime, anywhere thanks to the internet—but that does not mean you cannot add value.

With so much data available, what people really need these days is an expert (you) to organize and deliver listing data in a useful and easy-to-understand way. The perfect example is the neighborhood report. Anyone can find the data in a neighborhood report, and there may even be someone organizing it in your town already, but not personally delivering that information directly to your email list.

If you have your contacts sorted into groups of people who live or want to live in particular neighborhoods, then you can provide value to them by delivering the information about that area to them.

Ultimately, the goal of all this email organization is to increase the lifetime value of your clients. Just because you helped someone buy their first home five years ago does not mean they will be calling you for their next move. You need to continue providing them with information they will value, at the time they will value it, if you want them to think of you when they or someone they know needs a real estate agent.

If your current CRM does not offer the flexibility to group and send targeted messages, you should check out the tools Homes.com has to offer. The Homes.com lead manager helps you create custom groups and our agent IDX websites are the perfect platform to host your targeted, custom messages.

Mark Mathis is VP of Sales at Homes.com. For more information, please visit marketing.homes.com.

How to Generate Sales From Your Email List

The American Dream!

Edd Habegger — Thu, 28 Mar 2019 14:51:09 +0000

Where’s Paradise? California Community to Rebuild or Relocate After Deadly Camp Fire By Liz Dominguez Just two months ago, nearly 27,000 residents of Paradise in Butte County, Calif., fled the all-consuming flames of the Camp Fire, which broke out on November 8, killing at least 86 people in the region and destroying nearly 14,000 homes—an estimated $11-$13 billion in residential and commercial losses, according to CoreLogic data. A substantial number of buildings and structures in the town of Paradise are gone; the spirit of the community, however, lives on with surviving residents and members of the surrounding towns. While concerns and uncertainty linger, nearby real estate markets have already experienced vast fluctuations. Where Did Paradise Residents Go? With the fires extinguished, residents of what was once the town of Paradise, now largely a mix of ash and rubble, are having to make significant long-term decisions: stay and rebuild in Paradise, or relocate. According to Becky Prater, a broker/owner in Chico, and Dennis Geare, a branch manager in Grass Valley, the markets surrounding Paradise are seeing substantial changes in buyer, seller and renter activity, home values and inventory. First and foremost, those left homeless by the fire had to find short-term housing before making more permanent decisions. While many are still living in shelters or staying with friends and family, the rental markets of the neighboring towns have seen big changes. “There are basically no rental units left in Butte County; most survivors are living between 45-100 miles away from Paradise,” says Prater, emphasizing that any available vacant rental was gone within 72 hours of the fire. “This is also causing increased traffic, traffic accidents and heighted stress levels of all of our residents.” A Ripple Effect An unexpected result of the sudden need for short-term rentals? Chico and surrounding towns are experiencing a spike in seller activity and, therefore, in renter evictions. “Chico renters are being evicted because their landlords are selling their homes to take advantage of the current market increases. These renters also have nowhere locally to live and are not qualified to get any FEMA disaster funds like those coming from the affected areas,” says Prater. Geare has also seen a growing interest in relocation, not only from local residents looking to sell and move to other areas that may be deemed “safer,” but from incoming Paradise residents who are looking to purchase elsewhere rather than rebuild. Prater believes virtually most individuals impacted by the Camp Fire are looking to relocate permanently, as the thought of rebuilding in the fire-prone areas is “scary and not something they can imagine.” “We are seeing quite a few clients coming up from Paradise who are looking for roofs over their heads, generally in the lower price range of about $280,000-$350,000,” says Geare. “This is putting timing pressure on buyers in that category. Good houses are snapped up quickly, sometimes in as little as 3-6 days.” The Markets Shift There’s been a noticeable change from the pre-fire housing market to today’s demanding real estate environment. Immediately following the fire, Prater saw a sharp decline in inventory. “We had a relatively tight market pre-fire, with 226 homes on the market in Chico on November 7. In the two weeks after the fire, our inventory shrunk to 41 homes on the market, and the few builders we have in Chico with subdivisions sold out of all available inventory and phases of lots not even finalized yet,” she says. Now that the urgency has waned, inventory is starting to grow once again, also being spurred on by homeowners who are afraid of being caught in similar circumstances by living in fire-prone areas, or by those who understand there is still a growing need for housing in the area, which could lead to quick and profitable sales. “As of [press time], we have 107 homes on the market, and even during the holidays homes were coming on the market. Those thinking of selling in the spring or anyone with a vacant home were getting their homes on the market,” says Prater. “This demand has caused an almost immediate increase in value of between 10-20 percent. Most homes in good locations and conditions are selling within days and at prices considerably over the seller’s asking price.” As homeowner insurance checks are disbursed, more and more Paradise residents are becoming cash buyers in nearby towns, or are using the funds as significant down payments, as well as to purchase essentials such as clothing and home furnishings, says Prater. While Geare is not located in the immediate vicinity of Paradise—instead about an hour away from the town—he has also felt market changes. “We have a remarkably stable market here in Western Nevada County. Months of inventory based on closed sales has increased from 2.5 months a year ago to 5.5 months as of November; price-per-square foot is up slightly from $218 to $234; and days on market is stable at about 53 days,” says Geare. Real Estate Community and Locals Come Together Geare and Prater have both witnessed an outpouring of assistance in the aftermath of the destructive fire. From REALTOR® and Association participation to community involvement, the surrounding towns have come together in support of those affected. “I’m so proud of our local, state and national Associations of REALTORS®. All have stepped up in donations, grants and personal help,” says Prater. “Our local Association, the Sierra North Valley Association, has donated thousands of dollars in cash, gift cards, clothing, furnishings, and more. Our state Association made $2,500 in grants available to local REALTORS® and others.” Geare’s office also accepted donations for new items of clothing, gift cards and various other essential items that were delivered to Chico to be distributed to those in need. “Other broker offices collected donations, as well,” says Geare. “Our five Rotary clubs made donations and ran crowdfunding campaigns—fundraising was everywhere. One local jewelry store ran a watch battery campaign, donating the proceeds to assistance efforts. The community outpouring is just too extensive to recapitulate.” An Unescapable Truth The fires may be out, but this devastating event will have long-lasting effects on not only those directly affected, but on residents of nearby towns who are helping to rebuild a fragmented community. “This horrific event has forever changed the way that our local communities will live,” says Prater. “Our immediate goal is finding housing for as many possible. The long-term goals are rebuilding a community with better housing protections for fire safety and a community that will be able to sustain itself. “The financial and emotional impact on all of us is still hard to quantify even today, almost two months after that date that will forever be etched in our minds for those who escaped with their lives and for those of who lived in black smoke for days and witnessed the fire,” adds Prater. Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com.

2019 HOUSING FORECAST

Edd Habegger — Mon, 03 Dec 2018 20:35:49 +0000

Forecasting Housing in 2019: Not Better for Buyers, but Not Worse

By Suzanne De Vita

If the expectations about housing in 2019 can be summed up in one word, it’s this: balanced.

After months and months on a runaway track, home prices have started to temper, and will continue to moderate in the upcoming year, according to new predictions by several sources. Analysts are anticipating anywhere from 2.2 to 3.79 percent growth in home prices for the year—a considerable dip from past years, but an indicator of a leveling-out market.

The deceleration, however, is not likely to overcome other pressures, like climbing mortgage rates and short starter supply, changing conditions for homebuyers and sellers. According to a forecast by realtor.com®, there will be a fewer than 7 percent increase in inventory overall for the year.

“Inventory will continue to increase next year, but unless there is a major shift in the economic trajectory, we don’t expect a buyer’s market on the horizon within the next five years,” says Danielle Hale, chief economist at realtor.com. “Unfortunately for buyers, it’s only going to get more costly to buy, especially the most-demanded entry-level real estate.”

Meanwhile, interest rates will track toward 6 percent—landing between 5.3 and 5.5 percent, realtor.com’s report shows, or 5.8 percent, according to a forecast by Zillow. In the realtor.com scenario, monthly mortgage payments will rise 8 percent.

The increase is an obstacle for renters; in fact, it is now the “biggest challenge” toward purchasing for 19 percent of renters, according to a forecast by Trulia. Thirteen percent said the same this spring.

“I believe we’re going to see rates go toward what they were 10 years back coming out of the recession: closer to 5.25, 5.3 percent,” says Cheryl Young, senior economist at Trulia. “The real issue around affordability and rising interest rates—whether or not people know how much that’s going to impact their monthly mortgage payment—is the fact that prices have been outstripping wage growth. The bottom end of the market, especially first-time homebuyers, are already feeling the squeeze, so any rise in interest rates takes another bite out of affordability.”

For the buyers capable of paying prices today, however—and at the interest rates of tomorrow—there will be a measure of relief.

“Certain headwinds—including rising mortgage interest rates, higher rents and stiff competition for housing in the most desirable areas—will only grow stronger over the next year, but that won’t necessarily be a bad thing,” says Aaron Terrazas, senior economist at Zillow. “A slower-moving market is likely to give more buyers a chance to catch their breath and choose from a wider selection of homes that fit their preferences and budgets.”

First-timers will again be a force in 2019, accounting for 45 percent of mortgages, according to realtor.com’s report. Many will be millennials who are moving or trading up. According to Trulia, 21 percent of millennials are planning to purchase in the next year.

Given the buyer dynamics, 2019 will continue the favorable market for sellers, as well—but not everyone will garner multiple offers, as in recent years. According to the forecast by realtor.com, sales will soften for the year, down 2 percent.

“For the first time in a while, home seller sentiment has decreased,” Young says, citing the report by Trulia. “I think people, net, are still thinking it is a good time to sell, but it is not as favorable as it was last year.”

One critical development in 2019 is the effect of the Tax Cuts and Jobs Act. According to the research by Trulia, half of homeowners believe they will not benefit from the changes when they file their taxes—and many, realtor.com’s report shows, will have a bigger bill at tax time. How housing will be impacted overall is unknown.

Another development is disasters, which are growing in intensity and number. Following two devastating hurricanes and the wildfires this year, analysts are expecting more occurrences in 2019. According to the predictions by Zillow, a “record number” of homes will be lost as a result—but according to the findings by Trulia, 52 percent of homeowners are “no more or less concerned” about the potential threat.

The Takeaway
With the burn-out in home prices, and rates rising, housing has been inching toward normal this year, and is anticipated to stabilize through 2019. Battered buyers may have improved prospects in the upcoming year, but will still contend with cost and inventory pressures.

“2019 looks to be a pivotal year as the market cools and transitions from one marked by robust recovery into one more in line with historic norms, and more balanced between buyers, sellers and renters,” Terrazas says.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

HOUSING AMERICA’S AGING POPULATION

Edd Habegger — Thu, 29 Nov 2018 18:40:39 +0000

Housing America’s Aging Population: The Challenges Ahead

By Liz Dominguez

Today’s head of household is largely over 50 years old, according to a recent report by the Harvard Joint Center for Housing Studies (JCHS), “Housing America’s Older Adults 2018.” In fact, households headed by someone over 65 represent 55 percent of the nation’s households, while 65 million households are headed by someone aged 50 or over.

Are their needs being met? According to the report, the necessary tools that America’s aging population rely on are in short supply. Living arrangements, financial resources, health and functional abilities of these household leaders all pose a challenge.

“We need to address gaps in the affordability and accessibility of our housing stock, both of which are essential to older adults’ independence and well-being,” said Jennifer Molinsky, the lead author of the report. “As the number of households in their 80s grows, it will be essential that we strengthen the links between housing, healthcare and other services.”

Among the biggest roadblocks is the wealth gap. In 2016, median homeowners aged 50-64 had a net worth of $292,000—nearly 60 times that of the median renter in the same age group. While median incomes increased over the last five years for older adults—by 9.6 percent for those aged 65-79 and by 5.2 percent for those 80 and over—those aged 50-64 only saw an increase of 2.6 percent.

The racial divide widens this gap even more. While 81 percent of white households aged 50-plus own their homes, only 57 percent of black households can claim ownership—a 24-percentage point gap, the largest since recordkeeping began in 1976.

High costs of living are also hindering the aging population. Nearly 9.7 million households use at least 30 percent of their income to pay for housing, while over half of this segment pays more than 50 percent of their income.

While this segment of the population continues to age, there’s a shortage of properties that can address the physical challenges and disabilities that accompany them. For example, in 2016, 17 percent of households aged 50 and over included individuals who had trouble walking or climbing stairs (including 43 percent of those who are aged 80 and over). According to recent data, only 2.5 percent of homes in the U.S. have features that address these mobility concerns: single-floor living, no-step entries and extra-wide halls and doors.

The biggest risk? The largest portion of aging heads of household (57 percent for those over 80) is the most vulnerable because they are living alone. The same goes for renters—77 percent within the same age group live alone. This segment of the population largely relies on non-residents or paid caregivers for assistance, but also has lower incomes than larger households, posing more complex challenges.

Vulnerability can also be location-based. For those aging heads of household who reside in natural disaster-prone areas, the dangers are amplified. Disruptions to healthcare in response to power outages, road closures and healthcare facility closures can significantly impact aid efforts. Additionally, after-disaster dangers, such as mold in the home or flooding, are additional risks that could dramatically impact the livability and health of this population.

As baby boomers begin to turn 80 in less than a decade, demand for accessible apartment units and homes will only continue to grow, as will the wealth and racial gap and the need for funding to support financial assistance programs that help pay for basic housing and other necessities.

In which institutions do the solutions reside? According to the report, state and local governments, in addition to the private and nonprofit sectors, can play a role in developing more affordable and suitable housing for these aging heads of household.

“Housing America’s Older Adults” is a supplement to the JCHS annual State of the Nation’s Housing report.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com.

Home Maintenance Checklist by Better Homes and Gardens

Edd Habegger — Tue, 27 Nov 2018 17:55:14 +0000

Home Maintenance Checklist

Owning and caring for a home is a big responsibility, but the right repair tools and maintenance tips allow for easy living. Smoothly navigate your home’s seasonal upkeep with our home maintenance checklist and expert advice.

Like a health physical, a home maintenance schedule is important for every home’s upkeep and well-being. Continuing to check up on your exterior, appliances, heating and cooling, plumbing, security, and electrical systems will help prevent breakdowns, save money, and keep your home looking its best. Use this home maintenance checklist to help schedule your seasonal updates, repairs, and cleaning, along with a handful of monthly tasks. If any of the jobs go beyond your skill level or lead to more involved repairs, hire a professional to help.

Here’s how to hire a home repair service.

Monthly Home Improvements

Inspecting your home and completing monthly home improvement projects will keep your maintenance schedule on track and easier to manage. A comprehensive monthly home maintenance checklist is easy to implement, both in terms of time and money. Here is a list of basic monthly home improvements:

Clean the furnace filter to remove dust build-ups, make it easier to regulate your home’s temperature, and ultimately decrease utility bills.
Check the water softener and replenish salt if necessary.
Clean faucet aerators and showerheads to remove mineral deposits.
Inspect tub and sink drains for debris; unclog.
Test smoke alarms, carbon monoxide detectors, fire extinguishers, and all ground-fault circuit interrupters.
Inspect electrical cords for wear.
Vacuum heat registers and heat vents.
Check that indoor and outdoor air vents are not blocked.
Flush out hot water from the water heater to remove accumulated sediment.
Clean the garbage disposal by grinding ice cubes, then flushing with hot water and baking soda.

Seasonal Home Improvement: Fall Maintenance Checklist

In many regions, fall is the perfect season to tackle general home maintenance projects because the weather is generally dry and temperatures are moderate. Before you start your seasonal home maintenance checklist, examine both the interior and exterior of your home. Most of these home maintenance items can be accomplished without the help of a professional, but it’s always better to be safe and call for assistance if a home improvement project is beyond your abilities. Here are our seasonal home improvement recommendations for fall and spring:

Rake leaves and aerate the lawn.
Have forced-air heating system inspected by a professional. Tip: schedule an inspection in late summer or early fall before the heating season begins.
Check fireplace for damage or hazards, and clean fireplace flues.
Seal cracks and gaps in windows and doors with caulk or weather stripping; replace if necessary.
Swap old, drafty windows for more energy-efficient models.
Touch up exterior siding and trim with paint.
Inspect roofing for missing, loose, or damaged shingles and leaks.
Power-wash windows and siding.
Remove leaves and debris from gutters and downspouts.
Mend cracks and gaps in the driveway and walkway.
Drain and winterize exterior plumbing.
Have fireplace professionally inspected.
Tune up major home appliances before the holidays.
Repair or replace siding.
Replace the batteries in smoke and carbon monoxide detectors. Install a smoke detector on every floor of your home, including the basement.
Clean the carpets.
Clean window and door screens.
Vacuum lint from dryer vent.
Inspect exterior door hardware; fix squeaky handles and loose locks.
Check for frayed cords and wires.
Drain and store hoses, and drain in-ground sprinkler systems.
Wrap insulation around outdoor faucets and pipes in unheated garages.
Check water heater for leaks.

Here’s how to improve your home’s air quality.

Seasonal Home Improvement: Winter Maintenance Checklist

Winter weather can be harsh on your home. The below-freezing temperatures can cause a number of problems, including frozen pipes and roof damage. To prevent winter harm and avoid calling a professional in the middle of a blizzard, be sure to check these winter items off your home maintenance checklist:

Cover your air-conditioning unit.
Check basement for leaks during thaws.
Inspect the roof, gutters, and downspouts for damage after storms.
Vacuum bathroom exhaust fan grill.
Vacuum refrigerator and freezer coils and empty and clean drip trays.
Clean drains in sinks, tubs, showers, and dishwashers.

Check out these tips on winterizing your lawn.

Seasonal Home Improvement: Spring Maintenance Checklist

Once the ground has thawed and the trees begin to bud, it’s time to prepare your home for spring. On top of your regular spring cleaning, you’ll also want to consider these general home maintenance tips. Use our spring home maintenance checklist to make sure everything in your home from the basement to the roof is in tip-top shape.

Inspect roofing for missing, loose, or damaged shingles and leaks.
Change the air-conditioner filter.
Clean window and door screens.
Polish wood furniture, and dust light fixtures.
Refinish the deck.
Power-wash windows and siding.
Remove leaves and debris from gutters and downspouts.
Replace the batteries in smoke and carbon monoxide detectors.
Have a professional inspect and pump the septic tank.
Inspect sink, shower, and bath caulking for deterioration.
Vacuum lint from dryer vent.
Inspect chimney for damage.
Repair or replace caulking and weather stripping around windows, doors, and mechanicals.
Remove insulation from outdoor faucets and check sprinkler heads.
Have air-conditioning system serviced.
Drain or flush water heater.
Fertilize your lawn.

Check out these power wash cleaning tips.

Seasonal Home Improvement: Summer Maintenance Checklist

When the sun is out and warm weather is finally here to stay, the last thing you should worry about is home maintenance. Use our quick summer home maintenance guide to get the hard work out of the way at the beginning of the season. Even if the weather is already pushing 90 degrees, there’s no need to worry—most of these tasks are indoors!

Oil garage-door opener and chain, garage door, and all door hinges.
Remove lint from inside and outside washer hoses and dryer vents.
Clean kitchen exhaust fan filter.
Clean refrigerator and freezer coils and empty and clean drip trays.
Check dishwasher for leaks.
Check around kitchen and bathroom cabinets and around toilets for leaks.
Replace interior and exterior faucet and showerhead washers if needed.
Seal tile grout.
Prune trees and shrubs.

IT IS A GREAT TIME TO SELL !!!

Edd Habegger — Mon, 05 Nov 2018 19:17:58 +0000

NAR: Dried-Up Inventory Keeps Prices on the Rise

By Suzanne De Vita

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With critical inventory levels persisting, there have been fewer home sales to show for the year—and, with that, elevated home prices, according to the latest National Association of REALTORS® (NAR) quarterly report.

Across major markets in the third quarter of the year, the existing-home median price rose to $266,900—on an annual basis, an increase of 4.8 percent. From Q2 2017 to Q2 2018, notedly, prices rose 4.9 percent.

By the close of the quarter, there were 1.88 million existing-home listings on the market—a 1.1 percent bump from Q3 2017, according to the report. There was an average 4.3-months’ supply.

“Though inventory is more than adequate on the upper-end market, the insufficient supply of low- to mid-priced homes in metro markets with strong job growth continues to drive up prices and push prospective buyers out of the market,” says Lawrence Yun, chief economist at NAR.

“A strong economy and consistent job growth should be driving up home sales; however, would-be homebuyers are struggling to find a home they can afford,” Yun says. “As mortgage rates continue to rise—reaching the decade’s highest rates this quarter—an increase in the supply of affordable homes has become even more important to help temper price growth across the country.”

Additional highlights from Q3:

Ninety-three percent of the major markets measured (166 of 178 metros) had prices rise year-over-year, with 10 percent in double-digit territory.
The average homebuyer with a 5 percent down payment needed to earn $64,480 to afford a home at the median (nationally); the average homebuyer with a 10 percent down payment needed to earn $61,086; and the average homebuyer with a 20 percent down payment needed to earn $54,299.
The costliest housing markets were: San Jose, Calif. ($1.3 million, existing-home median); San Francisco-Oakland-Hayward, Calif. ($989,000); Anaheim-Santa Ana-Irvine, Calif. ($830,000); Honolulu, Hawaii ($818,000); and San Diego-Carlsbad, Calif. ($650,000).
The most inexpensive markets were: Youngstown-Warren-Boardman, Ohio ($97,600); Decatur, Ill. ($102,800); Cumberland, Md. ($110,300); Wichita Falls, Texas ($115,600); and Elmira, N.Y. ($121,600).
In the Midwest, the existing-home median price was $206,800, up 2.1 percent year-over-year.
In the Northeast, the existing-home median price was $301,500, up 6.1 percent year-over-year.
In the South, the existing-home median price was $234,300, up 3.4 percent year-over-year.
In the West, the existing-home median price was $395,500, up 4.8 percent year-over-year.

For more information, please visit www.nar.realtor.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com

Edd Habegger — Mon, 29 Oct 2018 21:35:07 +0000

The Right Real Estate Brokerage Could Triple Your Income

By Tom Davidson

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What is your earning potential as a real estate professional? It’s an important question to keep asking throughout your career. Real Estate Express’ 2018 Real Estate Agent Income Guide found real estate agent income varies by brokerage type—meaning you can maximize your earnings by choosing a brokerage that’s most likely to boost your profits.

Here’s what we know about how your brokerage can impact your bottom line.

How Much Does a Real Estate Agent Make?

That depends—not every brokerage is created equal. Each brokerage has a unique set of values, business philosophy and ethos that can impact your experience as a real estate professional. There are quantitative differences between brokerages too. The survey revealed an agent’s income can more than triple depending on the kind of brokerage they’re connected to. Agents at regional franchises reported annual incomes of $34,167, while agents at international brokerages reported earning $87,000 annually.

Here’s a complete breakdown of average gross income by brokerage type:

International brokerage: $87,000
National franchise: $77,477
Hybrid brokerage: $72,500
Independently-owned brokerage: $65,696
Regional franchise: $34,167
Other: $53,125

Yes, You Can Switch Brokerages
What do you do if your brokerage isn’t working out for you, or if your earnings seem limited? Well, you can always switch. The survey also revealed that more than half of agents (58 percent) have switched to a new brokerage at some point in their career.

What to Look for in a Brokerage
When you’re evaluating a brokerage there’s a lot to consider:

1. Do you receive mentoring from other agents or brokers?
If you’re just starting out in real estate, you’ll want to make sure there are more experienced agents around you that can help you find leads, close different kinds of transactions and develop a network in your market. If you’re a woman, you might want to consider joining a brokerage that has a track record of mentoring women in real estate and providing leadership and advancement opportunities for new female real estate agents.

2. Does your brokerage offer any extra benefits?
The Real Estate Express research shows that less than a quarter of brokerages offer benefits to agents, despite the fact that 83 percent of brokerages struggle to retain talent. This could be a good bargaining tool to consider as you negotiate at a new brokerage. Here are some benefits you might consider inquiring about:

401(k) contributions
Health insurance
Dental or vision coverage
Paid continuing education opportunities
Daycare

3. Does your brokerage embrace new trends?
The study also shows that agents who stay updated on best practices earn more than double than agents who don’t. Finding a brokerage that has a culture of staying current with technology and strategies will push you to be more innovative yourself, which can have a huge impact on your earnings.

Read our entire 2018 Real Estate Agent Income Guide and stay up to date on industry best practices. Additionally, here are some ways to evaluate if a brokerage is a good fit for yo u.

Tom Davidson is the general manager of Real Estate Express, the national leader in online learning for pre-licensing, continuing education and professional development. Tom has nearly 15 years in the real estate industry. From sales training and product development to growing the business, his multi-faceted background encompasses crucial functions to a successful career in the field.

U.S. AUGUST HOME PRICE TRENDS

Edd Habegger — Thu, 25 Oct 2018 18:02:54 +0000

FHFA Index: August Home Prices On-Trend

By RISMedia Staff

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With an 0.3 percent gain month-over-month, August home prices remained on-trend, according to the Federal Housing Finance Agency’s (FHFA) Home Price Index (HPI). On an annual basis, the HPI rose 6.1 percent.

Based on Census division:

Pacific
Alaska, California, Hawaii, Oregon, Washington

Change MoM in Prices: 0.8%
Change YoY in Prices: 7.3%

Mountain
Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming

Change MoM in Prices: 0%
Change YoY in Prices: 8.4%

West North Central
Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota

Change MoM in Prices: 0.1%
Change YoY in Prices: 6%

West South Central
Arkansas, Louisiana, Oklahoma, Texas

Change MoM in Prices: 0.4%
Change YoY in Prices: 4.5%

East North Central
Illinois, Indiana, Michigan, Ohio, Wisconsin

Change MoM in Prices: 0.2%
Change YoY in Prices: 6.1%

East South Central
Alabama, Kentucky, Mississippi, Tennessee

Change MoM in Prices: 0.3%
Change YoY in Prices: 5.6%

New England
Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont

Change MoM in Prices: 0.7%
Change YoY in Prices: 5.2%

Middle Atlantic
New Jersey, New York, Pennsylvania

Change MoM in Prices: -0.7%
Change YoY in Prices: 4%

South Atlantic
Delaware, District of Columbia, Florida, Georgia, Maryland, North Carolina, South California, Virginia, West Virginia

Change MoM in Prices: 0.4%
Change YoY in Prices: 6.8%

The HPI is based on data from Fannie Mae and Freddie Mac, and accounts for conforming, conventional mortgages in the single-family space.

Source: Federal Housing Finance Agency (FHFA)

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GOOD NEWS – More Sellers Looking To Sell!

Edd Habegger — Mon, 01 Oct 2018 18:04:11 +0000

In ‘Healthy Shift,’ More Homeowners on Board With Selling

By Suzanne De Vita

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Are homeowners warming up?

With prices rapidly rising, homeowners have been reluctant to sell, fearful of being unable to afford another home—a catch-22, because inventory is limited as it is, and compounded further when homes are kept off the market.

Now, their confidence is growing, according to the latest National Association of REALTORS® (NAR) Housing Opportunities and Market Experience (HOME) quarterly survey. Seventy-percent of Americans are optimistic about selling, with 50 percent “strongly” believing now is ideal to list, according to the survey. Less than one-quarter (22 percent) believe now is not ideal to list—a decrease from 29 percent the prior quarter.

At the same time, 70 percent of Americans believe home prices have risen this year, and 53 percent believe they will climb in the next six months—the latter a slight slip from 55 percent the prior quarter. Fifty-six percent say the amount of listings in their neighborhood has not risen, while 23 percent say there have, in fact, been more homes on the market.

“Though the vast majority of consumers believe home prices will continue to increase or hold steady, they understand the days of easy, fast gains could be coming to an end,” says Lawrence Yun, chief economist at NAR. “Therefore, more are indicating that it is a good time to sell, which is a healthy shift in the market.”

What about the buy side? While a healthy 63 percent of homebuyers believe now is ideal to purchase, the figure is a dip from 68 percent the prior quarter. Forty-five percent of renters are of the same sentiment—also a drop, from 49 percent the prior year.

Of all of those surveyed, 60 percent believe the economy is improving. The HOME Personal Financial Outlook Index, a gauge of whether or not Americans expect their finances to improve, rose to 62.6. Based on their current finances, however, more than half of those surveyed believe it will be either “somewhat” or “very” difficult to get a mortgage.

“This is most likely a manifestation of the constantly rising prices,” Yun says. “As prices rise, so do down payments, making the mortgage qualifying process more challenging.”

In this quarter’s survey, NAR asked how buyers’ decisions are impacted by local schools. More than two-thirds believe “highly rated schools” are either “somewhat” or “very” important. Other factors of importance include having family/friends nearby (25 percent), and proximity to work (24 percent).

“When you buy a home, you do not just buy the house; you buy a community—neighbors, parks, stores and schools,” says NAR President Elizabeth Mendenhall. “REALTORS® understand the unique qualities of the neighborhoods in their area and can help individual families find and purchase the right home in the right neighborhood.”

For more information, please visit www.nar.realtor.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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Escalation of Home Prices Starting to Ease

Edd Habegger — Wed, 26 Sep 2018 14:17:25 +0000

Case-Shiller: Ease-Off in Home Prices

By Suzanne De Vita

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The foot on the gas is letting up.

The explosive growth in home prices is slowing, according to the latest S&P CoreLogic/Case-Shiller Indices, which found July prices rose 6 percent year-over-year—an easing from 6.2 percent in June, and a March peak of 6.5 percent.

“Rising homes prices are beginning to catch up with housing,” says David M. Blitzer, chairman and managing director of the Index Committee at S&P Dow Jones Indices. “Year-over-year gains and monthly seasonally adjusted increases both slowed in July for the S&P CoreLogic Case-Shiller National Index, and the 10- and 20-City Composite indices.

“The slowing is widespread,” Blitzer says. “Fifteen of 20 cities saw smaller monthly increases in July 2018 than in July 2017. Sales of existing single-family homes have dropped each month for the last six months, and are now at the level of July 2016. Housing starts rose in August due to strong gains in multifamily construction. The index of housing affordability has worsened substantially since the start of the year.”

In July, existing-home sales slid 0.7 percent, according to the National Association of REALTORS® (NAR); in August, they evened out, with no gain or loss. In both months, ground-breaking increased.
The Case-Shiller 10-City Composite, which is an average of 10 metros (Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York, San Diego, San Francisco and Washington, D.C.), in July rose 5.5 percent year-over-year, a decrease from 6 percent in June. The 20-City Composite—which is an average of the 10 metros in the 10-City Composite, plus Atlanta, Charlotte, Cleveland, Dallas, Detroit, Minneapolis, Phoenix, Portland, Seattle and Tampa—rose 5.9 percent year-over-year, also a decrease, from 6.4 percent in June. Month-over-month, both the 10-City Composite and the 20-City Composite rose, 0.2 percent and 0.3 percent, respectively.

“Since home prices bottomed in 2012, 12 of the 20 cities tracked by the S&P CoreLogic/Case-Shiller Indices have reached new highs before adjusting for inflation. The eight that remain underwater include the four cities which led the home price boom: Las Vegas, Miami, Phoenix and Tampa. All are enjoying rising prices, especially Las Vegas, which currently has the largest year-over-year increases of all 20 cities. The other cities where prices are still not over their earlier peaks are Washington, D.C., Chicago, New York and Atlanta.”

The complete data for the 20 markets measured by S&P:

Atlanta, Ga.
Month-Over-Month (MoM): 0.5%
Year-Over-Year (YoY): 5.8%

Boston, Mass.
MoM: 0.1%
YoY: 6%

Charlotte, N.C.
MoM: 0.1%
YoY: 5.6%

Chicago, Ill.
MoM: 0.3%
YoY: 3%

Cleveland, Ohio
MoM: 1.4%
YoY: 5.7%

Dallas, Texas
MoM: 0.2%
YoY: 5%

Denver, Colo.
MoM: 0.3%
YoY: 8%

Detroit, Mich.
MoM: 0.4%
YoY: 6.2%

Las Vegas, Nev.
MoM: 1.4%
YoY: 13.7%

Los Angeles, Calif.
MoM: 0.1%
YoY: 6.4%

Miami, Fla.
MoM: 0.4%
YoY: 5%

Minneapolis, Minn.
MoM: 0.4%
YoY: 6%

New York, N.Y.
MoM: 0.1%
YoY: 3.4%

Phoenix, Ariz.
MoM: 0.7%
YoY: 7.5%

Portland, Ore.
MoM: 0.5%
YoY: 5.6%

San Diego, Calif.
MoM: 0%
YoY: 6.2%

San Francisco, Calif.
MoM: 0.6%
YoY: 10.8%

Seattle, Wash.
MoM: 0%
YoY: 12.1%

Tampa, Fla.
MoM: 0.6%
YoY: 6.8%

Washington, D.C.
MoM: 0.2%
YoY: 2.7%

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

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