The American middle class was born roughly seventy-five years ago thanks to the GI Bill and government-backed loan programs. These programs spurred homeownership and consumer spending and culminated in the robust real estate industry we have come to expect. The opportunity for regular folks--commonly known as the "middle class"-- to own homes is a defining feature of The American Dream. It's also historically been the main driver of the real estate industry itself. As such, the careers of most real estate agents rely on the ability of the middle class to continue to buy and sell homes. Here's how a strong middle class creates real estate wealth: … [Read more...] about How a Strong Middle Class Creates Real Estate Wealth
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How to Not Waste Money on Home Upgrades
More is not always better. In fact, when it comes to home improvement, more can sometimes be worse, especially when it comes to unique design elements. When counseling your clients on home upgrades for a top sale, make sure they know how to not waste money on home upgrades: … [Read more...] about How to Not Waste Money on Home Upgrades
How to Target New Construction in 2025
It's no secret that today's higher interest rates have cast a chill on real estate transactions. Roughly 84% of today's mortgaged homeowners are locked into a rate below 6% so it's no wonder they are staying put, thereby reducing inventory and transaction volume. As such, many buyers are priced out of the market, stuck on the sidelines until rates come down or inventory goes up--or both. Meanwhile, new construction currently represents one third of all single-family housing for sale, adding much needed inventory to the market. More significantly, many builders are offering buy-downs and incentives, effectively reducing interest rates to a comparative 4.5 to 5.5 percentage rate, substantially below today's average of 7 percent. This is why you want new construction in your business plan. … [Read more...] about How to Target New Construction in 2025
Quick and Easy Social Media Strategies to Live By
Ah, social media. Whether the term fills you with dread or joy, it's a critical part of marketing for any business. But as with most things, there isn't a one-size-fits all when it comes to social media marketing for real estate. Because real estate is all about building relationships through market savvy and customer service, your social media marketing needs to hit to those targets. Following are quick and easy social media strategies to live by: … [Read more...] about Quick and Easy Social Media Strategies to Live By
A Quick Explanation of the Clear Cooperation Policy
If you've been paying attention to recent industry news then you'll be familiar with the latest kerfuffle in the real estate world: Clear Cooperation. In 2020 the National Association of Realtors® (NAR) adopted a national policy known as Clear Cooperation. On its surface, it was a response to further answer the call for fair housing. But it also came with a number of strings attached, most notably the mandate to put all new listings on the MLS or face stiff fines and penalties. Now that NAR has inextricably landed in the high beams of the DOJ, it's not surprising that the policy of Clear Cooperation has come under its scrutiny. And more notable still is the amount of disagreement--both for and against the policy--among industry professionals. So if you're scratching your head and wondering … [Read more...] about A Quick Explanation of the Clear Cooperation Policy