3 Ways Remote Work is Changing Real Estate Forever + How Agents Can Help Their Clients Adapt

There’s no doubt that remote work is here to stay: 91% of people who are working at least some of their hours remotely hope their ability to work at home continues. And, a recent report from Ladders predicts that 25% of all high-paying professional jobs will be remote by the end of this year.

A lack of commute time, the flexibility to balance work and personal obligations, and improved well-being are some of the top-cited reasons driving this change. But it’s not just where and how people work that is changing; there are also lasting impacts on where people move and how they go about buying and selling a home.

When people aren’t tethered to an office, location isn’t an issue, and they’re free to buy homes wherever they want. In fact, about 32% of buyers in an Opendoor survey said that the pandemic influenced where they’ll choose to live, from big cities to the suburbs. And, with more people working from home, there’s been a shift in the home features that are most desirable as well. The Home Design Trends Survey from the American Institute of Architects found that more people are looking for multiple spaces in their home for remote work and virtual meetings. Suddenly, bonus rooms and flex spaces are at the top of buyers’ lists, even more so than gourmet kitchens or updated bathrooms.

Agents can help their clients not only navigate these changes, but get a leg up in the process. Here are three ways to help home sellers adapt to this new way of working and living.

Provide your sellers with options.

The traditional way of selling a home doesn’t always suit a homeowner’s unique needs. For example, they might be working from home with kids and pets underfoot, and the last thing they want to manage is keeping their house looking spick-and-span—not to mention, having to constantly leave the home for showings with prospective buyers. With the traditional real estate model, home sellers may host dozens of people in and out of their home, and oftentimes that can bleed into the work week, disrupting their meetings and daily routine. If the seller hires a cleaner, the average cost for a 2,000 square foot home is $150-$250—let’s say they’re having it cleaned 2-3 times per week for showings, that adds up quickly!

Another common scenario is that the seller needs a flexible move-out date after the home closes, to give them more time to move into their next home. Sellers are realizing that there are more options available to help them reach their end goal, such as iBuyers. In fact, research has shown that 71% of sellers are likely to consider selling their home to an iBuyer. Agents can partner with companies like Opendoor to present their clients with choices and help guide them to the best decision to meet their unique needs. Anything a listing agent can do to bring sellers more offers benefits everyone involved.

Leverage digital-first tools and services

The pandemic has accelerated the shift from offline to online solutions and has shown home sellers a world of new choices when it comes time to selling and buying a home. A full 75% of home buyers report that they would be likely to consider buying a home through a company that empowers them to control more of the process with digital tools.

Although working from home is often touted for its flexibility, there’s nothing more flexible than touring a home from the comfort of the couch. Virtual live, video and 3D tour options help buyers quickly check out homes that are listed, and decide which homes they want to tour in person. These tools put less pressure on sellers, too, by weeding out browser buyers from high-intent buyers. Additionally, there is a growing list of tools to digitize more aspects of the transaction, from mortgage tools to e-closing services, that agents can reach for when advising clients.

Be prepared for quick transactions since the market is so hot

With record-low inventory and high demand among buyers, homes are flying off the market at a record pace. And for the two-thirds of buyers who are also selling their home, the process can be slow, stressful and uncertain. Contingent deals can be a headache for everyone involved—they add time and costs that both sides of a transaction may not be able to afford. Agents can help buyers remove contingencies by working with a company like Opendoor that will make a cash offer on their current home, so the buyer can then shop for their next home with more certainty and confidence. Many times, the speed, convenience, and certainty these solutions provide may better suit a client’s specific needs.

Just like employers have found that there’s no longer a one-size fits all approach to where and how people work, agents and clients are finding that there’s no longer a one-size-fits all model of buying and selling a home. As the way we work, live and play continues to evolve, agents can help their clients explore more options for moving onto their next chapter.

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5 Tips for Increasing Your Income as a Solo Agent

So you did a great job this year, but you think you could do more. You've read the books. And most entrepreneurial reading materials will give you advice, but mostly vague tips that apply to everybody -- instead of your individual business needs. What can a solo agent do to increase their income next year?

Here are five tips for solo agents to increase their income:

1. Trim the Fat

This is a very obvious way to increase the output of your business—but what is not very obvious is what needs to be trimmed. At the top of the list of things to cut are typically things you are paying for that don't return their investment. What about what you are NOT paying for? Make a list of tasks that you do on a daily or weekly basis, then write a dollar amount for what you estimate that generates you. If time is money, you should also cut things that are not contributing to increasing your income.

2. Outsource Some Tasks

One of the best ways to trim the fat is by outsourcing some of the tasks that take too much time, you don't like doing, or you are not an expert in. Some agents will hire transaction coordinators or personal assistants. Some agents will hire a local marketer to write all their content. We would recommend also looking into some services that can automate these tasks for you.

3. Have Systems in Place

You can sign up for all the tools you can afford, but they don't mean anything unless you are actually using them. This applies primarily to CRMs, but can pertain to almost anything. For example, if you outsource your social media posts, you should know what to do when somebody comments on a post or sends a direct message. How do you utilize that service to generate more leads that turn into real estate transactions?

4. Stay in Touch

Most notably, all successful agents that have been in the industry for 10+ years will tell you that keeping in touch with your contact database is crucial to having a business that will perpetually run itself. By leveraging email marketing, social media marketing, or even picking up a phone—you are building relationships. Those relationships that you build today are the checks you will be cashing tomorrow.

5. Work on Increasing Your Average Commission

To double your income, you don't necessarily need to double how many homes you close. You can focus more on optimizing your processes and the end result. By following the steps in this article, you can save time. To increase money, you can also put an emphasis on increasing your comissions. This can be by selling higher priced homes or increasing your comission.

To view the original article, visit the Zurple blog.

Other articles of interest:
5 Weaknesses that Make Real Estate Agents STRONG
Tips for Working Harder and Smarter Your First Year in Real Estate

The Biggest Tax Mistakes Made by Real Estate Pros

Tax season is upon us, and even the most tax-savvy real estate professional can fall victim to tax filing mistakes. Check out the following list to ensure you have everything ready to go by this year’s deadline.

Forgetting money-saving tax deductions

Real estate professionals can rack up a ton of deductible business expenses over the course of a year. It’s hard to forget your large expenses, like the cost of your home office space, vehicle usage, advertising, or commissions paid to other agents or employees. But even the little expenses—think office supplies, coffee or meals with clients, and software costs—add up to a large sum of money by the end of the year!

Remember, you can also deduct expenses like fees for licensing, professional memberships, and education or training beyond your minimum state educational requirements.

Drowning in tax filing paperwork

One of the most frustrating things about doing taxes is the number of forms, records, and receipts you need to have on hand to ensure everything is accurate.

Before you even start working on your tax forms, gather the following documents: business earnings, receipts, a list of business expenses, and deductions.

As a self-employed real estate agent, you’ll likely need to file the following forms: a 1099-MISC outlining the amount of money you made as an independent contractor, Form 1040 to report your individual income to the IRS, and your state’s applicable income tax forms.

If you’re unsure about anything tax-related, a qualified accountant is a great investment that may save you more money than they cost. They can help you organize your records and receipts, and they'll stand by your side if you're ever audited by the IRS.

Filing your taxes late

Missing the tax filing deadline is easy to do as a busy real estate agent. Commissions aren’t paid on a set schedule, and when you factor in multiple filing dates for self-employed professionals, it’s even more likely to slip your mind.

Self-employed real estate agents are responsible for paying their taxes quarterly on income earned during the previous quarter. In general, that means your income taxes (along with Social Security and Medicare) are due in January, April, June, and September.

Don’t get saddled with interest and late-payment fees. Set reminders for future due dates and make sure you accurately calculate your estimated tax payments well before they’re due each quarter.

Contact an accounting professional before making any financial decisions. The material in this article is for your information only and not intended to be used in lieu of seeking additional consumer or professional advice.

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What Does Restarting Student Loan Payments Mean for your Buyers?

It may be a scary thought for millions of people nationwide, but the resumption of student loan payments is on the horizon.

The jury is out on whether the Biden Administration will allow the freeze on loan payments to thaw on May 1 or extend it for the seventh time since March 2020. However, real estate experts and industry pundits agree that adding another bill to the plate of buyers and homeowners could pose another challenge in the market, as the affordability gap widens.

“It’s hard to make ends meet and consider saving for a home as well,” says Jessica Lautz, vice president of Demographics and Behavioral Insights for the National Association of REALTORS® (NAR).

From the weight it holds on their debt to income ratio to the challenges it presents on an aspiring buyer’s ability to save for a down payment, Lautz says that student loan payments pose an additional affordability challenge amid rising home prices and mortgage rates.

In a September 2021 report, NAR experts found that more than half of non-homeowning millennials (60%) claimed their student loan debt pressured them to delay buying their first home. 

With more than $1.75 trillion in aggregate student loan debt nationwide and average student debt for millennials just below $40,000, George Ratiu, manager of economic research at realtor.com says their concerns are legitimate.

“Yes, a lot of the folks with professional degrees have higher earning power, but when you come out of professional school with the equivalent of a mortgage just in student debt, it’s a fairly tall order to presume then that you can pile on to that with a mortgage,” Ratiu says.

Economic Implications

For the past two-and-a-half years, people have enjoyed a reprieve from paying their student loan debt while also benefiting from a mix of federally backed stimulus and assistance programs that helped mitigate looming financial distress amid the pandemic.

The financial stimulus coupled with record-low mortgage rates provided a tailwind for younger generation aspiring buyers to buy their first home.

Millennials accounted for 43% of the total buyer pool in 2021, according to NAR’s 2022 Home Buyers and Sellers Generational Trends report. Eighty-one percent of younger millennials (23 to 31 years) and 48% of older millennials (32 to 41 years old) were first-time home buyers.

While the government pandemic response may have been a boon for some buyers, it has arguably sowed the seeds of the current economic and inflationary environment that has captured headlines in recent months.

This includes inflation hitting a four-decade high of 7.9% in February, prompting the Federal Reserve to make its first interest rate hike in four years to try to reel in the inflationary pressures that are driving prices up.

When asked how a two-year freeze of student loan payments weighed on inflation NAR chief economist Lawrence Yun tells RISMedia “The impact is unclear other than there is more spending into the economy because of the loan deferral.”

“Inflation is a tad higher,” Yun says. “Exactly how much is unknown.”

According to recent reports from the Federal Reserve Bank of New York, round $37 million federal student-loan borrowers saved $195 billion in loan payments since the government froze their payments at the onset of the pandemic.

The report’s authors also claimed that federal borrowers who had their payments frozen during the pandemic would likely have trouble managing their debts if the forbearance period ended.

For millennials that were able to buy homes during the pandemic, Ratiu says a resumption of payments will spread their monthly budgets thin.

“For many debt holders who have a mortgage, having to restart repayments will increase their financial burden every month, and here I think it all depends on whether these folks have federal or private loans and the terms of those loans are,” he says.” The bottom line is there will be a lot more burden on families who have to support a mortgage and restart paying their debts.”

Managing Their Debt

Despite concerns regarding the potential impacts on affordability, some pundits don’t see the reintroduction of student loan payments as an inherent headwind for buyers.

Nikkie Taylor, a senior loan officer at Motto Mortgage, tells RISMedia that the resumption of student loan payments could potentially help aspiring buyers.

“When no payments are being reported, typically you have to use 1% of the balance that they owe to qualify them,” Taylor says. “When they go into a deferment status or aren’t making any payments, it shows up on their credit report as a zero payment, then that’s when you have to use 1%.”

Depending on borrowers’ balance on their student loans, Taylor says that the minimum payment shown on a borrower’s credit report would be used when getting them qualified for a mortgage if they were to resume paying their student loans.

“That’s what the lender has to use, so it could be an ok thing because your student loan payments are not usually 1% of the balance you owe as a minimum payment,” says Taylor. “So it actually may help some home buyers and even first-time homebuyers if the lenders aren’t going to have to use such a huge amount of money each month for their debt.”

Experts from the Mortgage Bankers Association (MBA) aren’t convinced that the effect on buyers in the market will be severe, going as far as drawing comparisons to a similar government-backed forbearance on mortgage payments.

“It will come down to how we exit that forbearance,” says MBA chief economist, Joel Kan. “If you look at the mortgage forbearance, there are different ways for borrowers to exit, and it has been mostly positive for the most part.”

When borrowers had to go back to paying their mortgages in 2021 amid speculation and concerns of a wave of foreclosures hitting the market, Kan says servicers worked with borrowers to find a plan to exit forbearance that wouldn’t lead to losing their homes.

While he thinks a similar scenario will unfold when student debt payments resume, Kan admits that the additional expense could still challenge people’s ability to save and their monthly expenses.

Kan acknowledged that rising rates and home prices present a hurdle for first-time buyers, but he also says that there has been a shift in the cohort as many are older, have higher incomes and find ways to afford a home.

“Yes, there will be some strain if they have less income because of the resumption of student loan payments, but at the same time, debt obligations have been a lot lower, and I think a lot of these borrowers are better equipped to handle this going forward,” Kan says.

Broker’s Respond

Real estate professionals nationwide tell RISMedia that the possible continuance of student loan payments amid higher inflation, home prices, and mortgage rates could present a mixed bag of implications to buyers in their respective markets.

Rich La Rue, designated broker at HomeSmart’s Phoenix brokerage, says that disposable income, which increased during the pandemic, will take a hit.

“While the payments have been in abeyance, have people been saving that money,” La Rue wonders. “Probably not. They’ve been using it on their lifestyle, so this will negatively impact if they are trying to buy a home.

“It’s tough enough for first-time homebuyers to get into a home right now, not only because of the pricing but also because they are competing with investors and other cash buyers,” he adds. “I think that for many first-time buyers kicking in the student loan payments will put homeownership out of reach for them.

Kendall Bonner, broker/owner of RE/MAX Capital Realty and owner of Motto Mortgage Resource in Florida, echoes similar sentiments. However, she is optimistic that buyers in the market would adapt to the additional monthly payment.

“The reality is that most people often live check to check and at the top of their means,” she says. “The good thing is that once it’s introduced, people will adjust backward to what they need to because they have no choice.

Indeed, reintroducing another monthly payment would be a disconcerting task for buyers. Still, Matt Rand, managing partner at Howard Hanna Rand Realty, doesn’t anticipate student loans weighing down competition for a finite inventory of homes for sale, which is still prominent as the spring market kicks into gear.

“With demand as high as it is right now, there are so many people who are looking to move, upgrade or buy their first home that even if it affects some people, I think there’s so much demand that I don’t think it’s going to affect the market at all.”

Rand doesn’t expect student debt to impact market activity as much as rising mortgage rates and sky-high housing prices, even for first-time home buyers.

“Between those two, I think the student loan issue is a secondary issue for most people,” Rand says. “It’s certainly a factor that people have to consider with their cash flow …but I don’t think that it’s going to change a lot in terms of people being able to get mortgages because it was there whether they were paying it or not.”

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West + Main is a Proud Sponsor of Housapalooza!

Welcome to Housapalooza!

Thinking (or dreaming) about buying or selling a home in metro Denver? No matter where you are in the process, join us for a brand new housing fair for first-time homebuyers and sellers... this is NOT your average housing fair. The day will include a keynote speaker, a panel of people who have been where you are (and have completed the homebuying process), informational booths and Q&A with top real estate experts so you can learn the ins and outs of homeownership.

 

We’re here to demystify the homebuying and selling process for you.

April 23, 2022
10:00 AM - 2:00 PM MDT

Holiday Inn® Denver East
3333 Quebec St.
Denver, CO 80207

Admission is FREE for the public, no registration required (includes lunch!) | Tickets for Realtors® & Industry Partner Members start at $15

Download event flyer

Registration Info for Members

YOUR BLUEPRINT TO HOMEOWNERSHIP

Money Matters
Now is the time to get your money right and create your financial game plan. Learn how to create a safety net, pay down debt, repair your credit and build an emergency fund. Plus, we're here to bust some myths and spread some knowledge on how much you really need for a downpayment (yes, you CAN buy a home with a down payment less than 20%).

Homeownership Demystified 
Feeling overwhelmed by the real estate market? We’re here to help. Learn everything you need to know about buying (or selling) your first home including exactly what the timeline of your purchase will look like, how to build your real estate team (and who you need on it), what’s in a real estate contract (and why you should care) and what HOA's and Metro Districts are.

Make Your Move
Are you ready to start the process of becoming a homeowner? Get pre-qualified, learn the difference between a real estate agent and a Realtor®, educate yourself on new builds, hear about what down payment assistance and grant programs are available to you and more!

Sellers, Listen Up
It’s a seller’s market and if you are ready to list your home you want to take full advantage of prime conditions. Learn what steps you need to take to make your home list ready including committing to a representation strategy, pricing it right and closing hurdles you may encounter. 

SPEAKER LINEUP

 EVENT HOST
 Ryan Haarer, Former TV Newsman for 9News and a Top Producing Realtor® with LIV Sotheby's International   Realty

  KEYNOTE SPEAKER
  Albus Brooks, Former Denver City Council President, Executive at Milender White, National Speaker and Urbanist

Pay it forward! 7 tips for mentoring a future female leader

Empowered women empower women. Here’s how to work with a less experienced woman in real estate and boost her progress in the profession

Who taught you how to play a sport? Cook a meal? How to dress or do your hair? Who taught you how to drive or how to pack for a trip? For most of us, life has been a series of mentorships, some big and some small, some from teachers, coaches, family members, and friends. As Oprah Winfrey put it, “We are all mentors to people even when we don’t know it.”

To move forward professionally, women need mentors who will help them navigate the sometimes rocky road ahead. If you have experienced success in real estate, whether as an agent, team leader, broker, investor or executive, mentoring can allow you to “reach back as you push forward.”

Ready to take on a mentee? Keep these seven tips in mind to make your mentoring relationship more effective and more meaningful.

Make time for mentoring

According to data analyzed by SHRM, the Society for Human Resource Management, although most women know that mentoring is essential to professional success, 63 percent of women surveyed had never had a mentor. This is a finding that crops up again and again, attributed to everything from lack of women in existing leadership roles to the number one reason given for not mentoring or being mentored, lack of time.

Because so many women are juggling the demands of their home lives with their professional lives, they may have less time to spend talking with their mentor or taking on the role of a mentor themselves. However, the benefits of mentoring make it a worthwhile priority and one that adds value on both sides of the relationship.

Be sure you have enough bandwidth to be effective

That said, if you’re already overwhelmed with your existing commitments, don’t take on the role of mentor then leave your mentee at loose ends. Mentoring is a commitment and requires time, thought and energy.

If you’re mentoring someone outside of your organization, it may be even more difficult for you to find the time and space on your calendar to be an effective mentor. Take an honest look at your schedule and prioritize your responsibility as a mentor once you’ve agreed to it.

Help her take advantage of opportunities

One of the big takeaways from Sheryl Sandberg’s book on women’s workplace empowerment, Lean In, was that women often decline opportunities when they’re presented because of a fear of failure or not being 100% ready to tackle a new challenge. Now, the COVID she-cession has created even more reasons for women to decline new opportunities as they struggle to balance all of their competing priorities and responsibilities.

Come from a positive place with your mentee and make sure she knows that opportunities for growth are just that – a chance to grow into a new skillset and develop new experiences. Help her to develop the tools she needs along the way rather than feeling like she can’t begin until she has them already.

Work alongside her to show her the ropes

If you have the opportunity to work with your mentee directly – co-listing a property together, developing a marketing strategy, or doing due diligence on an investment property – you’ll give her the practical experience she needs while still providing a cushion of support. This may be the most effective way to mentor: showing, instead of telling.

While you’ll want to make sure that the opportunity is one that is challenging, it should also be achievable. Don’t take on the task of mentoring if you’re already overextended or struggling on that particular project. It may make it difficult to slow down and take advantage of teachable moments when they present themselves.

Put the responsibility in her hands

Similarly, resist the temptation to do all of the hard things for your mentee or to smooth the way too much. If she’s struggling with a problem, provide guidance to help her reach a solution without always pulling a rabbit out of a hat on her behalf. 

You’re there to support and help your mentee, not to do her job for her. Make sure that you leave her room to make her own choices and even to make her own mistakes. After all, we often learn more from our errors than from our successes. If she makes a mistake, help her to evaluate it and make corrections where possible.

Don’t act like you know it all

You may have vast experience to share, but that doesn’t mean that you’re always right. Don’t act like you have never made a mistake or like you have all of the answers. Be relatable, sharing things you’ve done wrong in the past and what you learned from those experiences.

Your mentee needs the space to figure things out and talk things through. If you behave as if you’re perfect, you may shut down the lines of communication she needs in order to share with and learn from you. 

Treat her like an individual

Your mentee’s path is different. She’s probably from a different generation. She may have been raised differently and educated differently. She may be from a different part of the country or a different part of the world. Her journey may look somewhat like yours or it may look vastly different. Don’t expect her to be you. Let her be herself.

Treat your mentee like an individual, tailoring your style and your advice to her unique talents and needs. Understand what makes her tick, what motivates her and what discourages her. Develop a communication style and working relationship that works for both of you and avoid a one-size-fits-all approach.

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Why Housing Inventory is so Low Right Now

You have to understand the difference between the new and existing home sales markets

By Logan Mohtashami for Housing Wire

Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Wait, what? But we have a housing shortage, right? Yes, but this is where my work is much different from other housing economists and why we need to think of inventory in a new, modern 21st-century mindset.

The big theme of my housing work since 2010 has been that the housing market would have its weakest recovery from 2008 to 2019 because we simply built too many homes versus the real demand curve, and monthly supply proves that. If you look at the monthly supply for new homes from 1996 to 2005, it was always lower than what we saw from 2008 to 2019. New home sales were working from the lowest levels ever, but sales kept on disappointing analysts and economists.

We had a few years where sales missed expectations in 2013, 2014, and 2015. Then in 2018, when mortgage rates got to 5%, we had a supply shock for the builders, which in essence stalled out construction for 30 months.

New home sales were much more substantial, of course, heading toward the bubble peak of 2005, so as long as sales rose, the homebuilders would build. Then we had an 82% crash in new home sales, and the weakest new home sales recovery ever after 2010..

One of my big calls in the previous expansion was that we wouldn’t see housing starts begin a year with 1.5 million total housing starts until 2020-2024, when demand would warrant that many housing starts. I wrote about this topic last year: Why we can’t build our way out of this hot housing market.

The new home sales market is always in competition with the existing home sales marketplace because that marketplace has a much more significant inventory with cheaper, older homes. So homebuilders can’t just put their head down and overbuild. On top of all the drama we have, housing completions look terrible, so there is some risk to the builders’ business model now that rates have risen. 

The monthly supply of new homes is different than the monthly supply of existing homes. The existing home sales monthly supply is 1.7 months versus 6.3 months for the new home sales market.

So how should we look at the inventory situation? Everyone has their way of looking at inventory, so let’s take a look at the different approaches.

Mike Simonsen, founder and CEO of Altos Research, does a great job looking at the single-family inventory each week, using Altos’ real-time snapshot of what’s going on. Inventory is seasonal, rising in the spring and summer and fading in the fall and winter. So, we want this data line to be positive year over year, not negative.

The National Association of Realtors provides a monthly snapshot of inventory with its existing home sales report. I use this data line to give people a realistic take on the landscape of housing inventory with the existing home sales marketplace. Inventory from 2010 to 2019 was high enough that we didn’t see major bidding wars. However, inventory has broken down to such low levels that unhealthy bidding wars are more common since 2020.

Inventory is very seasonal and we are about to get the spring and summer increases in inventory we see every year. We want the total inventory to rise and the total inventory data to be positive year over year. We want to get back to a range of 1.52 – 1.93 million homes, which would mean the madness in the housing market would be over.

Once total inventory can get back into the range of 1.52 million to 1.93 million, I can take off the unhealthy housing market label. I hope higher rates do their thing regarding cooling down price growth and creating more days on the market. Yes, I know home sellers will pull back with higher rates, but you can see the issue with the existing home sales marketplace that doesn’t exist with the new home sales market.

Right now, an American homeowner with a sub 3.25% mortgage rate has the best hedge against inflation, and they are looking great. In contrast, the new home sales supply inventory channels don’t have a homeowner who has been in their homes for 10-20 years.

Hopefully, this explains some of the different dynamics between the new home sales market and the existing home sales marketplace. Because my home-price growth model of 23% in five years accelerated so fast in just two years, I am rooting for more inventory and prices to cool down noticeably so I can get ready for the year 2025. That’s an entirely different conversation altogether, but we will cross that bridge when we get there. For now, let’s root for more total existing home inventory.

See all of the tweets, charts + data on Housing Wire.

6 Tips for Starting Your Real Estate Podcast

Podcasts have been around for quite a while. They are a fantastic tool when it comes to generating real estate leads, especially if you are able to capture those prospects in the research phase of their buying process.

Here are six tips for starting your own real estate podcast:

1. Have a "Gimmick"

Just like you should have a unique identifying reason why prospects should use you and not another real estate agent, you should have a reason that people should listen to your real estate podcast. This can be content unique to your area, your personality, a weekly giveaway, etc. Don't just sit there and talk, but have a plan.

2. Start It NOW

Don't take too long planning—the only way you will gain any traction is by starting your podcast TODAY. Your first few episodes may be embarassing a year from now, but it's important that you just "do it." Just like waiting months to perfect a website before a launching it is a mistake, not having that online presence will cost you missed opportunities. As time goes on, your podcasts will improve and you will have better workflows to efficiently record new episodes.

3. Have Fun with It

Don't worry about copying what has been done before. What works for other real estate agents might not work for you. Don't be afraid try experimenting with concepts you think would work. If they don't work, simply don't use them again in future podcast episodes. It's important that podcasting is fun for you, otherwise it won't be fun for others to listen to.

4. Be Consistent

To create a real estate podcast that will generate perpetual residual leads is to have regular weekly episodes. This will train your audience to look forward to your next episode—or have them download all of your archived episodes to listen on their morning commute.

5. Invest in Good Sound Quality

Just like purchasing a good quality camera for YouTube videos, the same goes for making an intelligent purchase towards your audio quality. You can certainly record your podcast on your phone, but listeners can tell the difference. This also goes for recording in a properly soundproofed room versus an open room that emphasizes the echoes of your voice.

6. Understand It Takes Time to Grow

There isn’t a single product or program on the market that can give you quick results (aside from programs that leverage Google or Facebook advertising). So you'll need to accept that through consistency you can build yourself a sizeable following. Keep at it, and your three listeners can grow into 30, which can grow into even more!

To view the original article, visit the Zurple blog.

West + Main Agent Selected as NAR Under 30 Finalist

Huge congratulations to West + Main Agent Kati Fitch, who was selected as one of the National Association of Realtor’s Under 30 Finalists!

“We at West + Main Homes couldn’t be more proud of Kati,” said CEO Stacie Staub. “She’s such an amazing Realtor, takes wonderful care of her clients, works diligently to improve herself on a constant basis and is a super positive contributor to our Company’s culture. Making the Top 50 Under 30 is a huge achievement and it’s been a pleasure to see Kati highlighted through this process!”

About Kati

After taking a big risk and moving out to Denver from the midwest a few years ago, I fell in love with the city, both for its vibrant culture and easy access to the outdoors. In town, I spend most of my time my home neighborhood, Sunnyside, and in the Highlands, visiting favorites like Zuni Street Brewing and Star Ramen. In the mountains, look for me and my pup Riva on the hiking trails, especially if there’s a waterfall or stunning view to be found.

I am a Broker Associate, helping clients buy and sell homes in the Denver area. Working in real estate has connected me with the city in new and exciting ways, from following market trends to watching new developments come to life to establishing meaningful relationships with industry partners. I believe in clear and honest communication and a partnership with my clients where I'm alongside them every step of the way, making buying or selling their homes as easy and understandable as possible.

I started my Real Estate career w in 2018 in an admin position where I helped our brokers and marketing director with everything from contract software to window displays. Working on the administrative end has given me invaluable experience during the transaction process and improved my ability to help my clients clearly understand how to navigate each sale. I look forward to meeting you and making your needs my priority!

About NAR’s Under 30

Each May/June, REALTOR® Magazine features young rising stars in the real estate industry. In determining who makes the Under 30 list, REALTOR® Magazine staff looks for candidates who are successful in the real estate business and have demonstrated skill, success, creativity, and leadership in their careers.

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HUD Debuts Action Plan to Address Racial and Ethnic Bias in Home Appraisals

The U.S. Department of Housing and Urban Development (HUD) has unveiled its roadmap for addressing racial bias in the home appraisal process.

HUD and the Biden Administration released its Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) Action Plan on March 23, along with an in-depth analysis of how the government and participating agencies can advance equity and root out discrimination in the valuation of minority-owned homes.

“For generations, millions of Black and brown Americans have had their homes valued for less than their white counterparts simply because of the color of their skin or the racial makeup of the neighborhood,” said HUD Secretary, Marcia L. Fudge, in a statement. “Black and brown homeowners in communities just like mine have not felt that they have had a voice or that the Federal government was doing enough to redress the issue of racial bias in the appraisal process.”

Fudge and White House Domestic Policy Advisor, Susan Rice, co-chaired the PAVE Task Force, which set out to evaluate the causes, extent and consequences of appraisal bias and produce a transformative set of actionable reforms to dismantle racial and ethnic discrimination in home valuations.

According to a HUD statement, the PAVE Task Force engaged more than 150 stakeholder groups as part of their six-month research and engagement efforts while putting the plan together.

“We have a long way to go, but the steps laid out in this Action Plan will help our country reduce bias in home valuations, narrow the racial wealth gap, and deliver a stronger and more equitable future for all Americans,” said Rice in a statement.

Dismantling Historic Bias

The PAVE Task Force highlights the historical role of racism in residential property valuation within the Action Plan (report) while also exploring different forms of bias present in appraisal practices.

“Throughout the 20th century, people of color were denied equitable access to housing as federal, state and local governments systematically implemented discriminatory policies that led to housing segregation,” the report reads. “These policies contributed to a gap between the values of homes in communities of color and predominantly white neighborhoods.”

While legislation like the Fair Housing Act was passed to make homeownership more equitable, the report acknowledges that market value disparities still contribute to the “sprawling racial wealth gap” in the U.S.

According to a statement from HUD, the median white family holds eight times the wealth of the average Black family and five times the wealth of the average Latino family.

Part of the report cited a 2021 Freddie Mac study that corroborated national articles that brought renewed attention to the impacts of appraisal bias that homeowners of color had suffered in recent years.

The Freddie Mac report found that homes in Black neighborhoods are about 70% more likely to appraise lower than the sales price for homes in white areas—12.5% compared to 7.4%. Homes in Latino communities were more than twice as likely to appraise lower, at 15.4%.

According to the Action Plan, an appraisal below the contract price in a home sale can sometimes result in a higher required down payment for a home buyer.

“This unexpected, out-of-pocket increase can often cause a sale to fall through, potentially preventing a prospective buyer from purchasing a home,” the report states.

The impact could also result in a downward price renegotiation, which the report’s authors claimed reduces the seller’s financial gain and possibly hinders that family from purchasing their next home.

“A widespread pattern of undervaluation in communities of color can impact an entire neighborhood,” read the report.

Actionable Points

The Action Plan outlines a series of reforms under five points that the PAVE Task Force committed to addressing, including increased accountability and diversity in the appraisal industry while preventing algorithmic bias in home valuations.

It also aims to empower consumers to take steps when they believe they’ve experienced a biased valuation.

The task force calls for a mix of actions including, updates to anti-discrimination obligations, policies and procedures within the appraisal industry.

It also urges the federal government to develop a legislative proposal that modernizes the governance structure of the appraisal industry. The aim is to improve transparency and public participation in the establishment of appraisal standards and qualification criteria, and to advance diversity in the profession.

According to the Department of Labor’s Bureau of Labor Statistics, the appraiser/assessor profession is roughly 97% white, making it one of the least-diverse professions in the country.

To remedy that, the Action Plan also seeks to “lower barriers to entry in the appraiser profession” that make it difficult for underrepresented groups to access the profession and strengthen anti-bias, fair housing and fair lending training of existing appraisers.

Another noteworthy proposal is the development of an aggregated database of federal appraisal data to better study, understand, and address appraisal bias, complemented by a working group composed of subject matter experts from stakeholder agencies to develop a research agenda on appraisal bias.

What the Industry Says

Real estate industry trade groups and federal agencies have already begun praising the newly released action plan.

FHFA acting director, Sandra Thompson, applauded the report, stating that it “affirms the persistence of bias in the housing finance system” and provides a roadmap for the federal government to collaborate with federal and industry stakeholders “to take meaningful steps against” against racial bias in appraisals.

In a statement from the National Association of REALTORS® (NAR), President Leslie Rouda Smith asserted that the association’s 1.6 million members are committed to upholding fair housing laws in all real estate activities, including appraisals.

“Historically, many groups have faced unfair home undervaluation,” Rouda Smith said. “Addressing those wrongs is key to providing financial stability to not only homeowners, but entire communities, and benefits the nation as a whole.”

The Mortgage Bankers Association (MBA) echoed similar sentiments, and added that the organization and its members are committed to working with policymakers and other stakeholders, including appraisers, “to develop solutions that ensure borrowers receive a fair and accurate estimate of the value of their homes.”

The MBA represents more than 2,000 real estate finance companies, including independent mortgage banks and brokers.

“Many of the initiatives announced today can be an important step in the fight toward eliminating biases, improving appraisal accuracy, and opening access to more affordable, sustainable homeownership opportunities for minority borrowers,” said MBA president and CEO, Bob Broeksmit, CMB, in a statement.

While the report notes that many of the reforms can be implemented under existing authorities, Broeksmit said it will be necessary for Task Force agencies to “provide ample notice and comment opportunities for stakeholders during the implementation process.”

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West + Main Managing Broker Appointed to CAR's Diversity & Inclusion Committee

Huge congratulations to West + Main Agent + Managing Broker Malisa Miller Eakins who was recently appointed to the Colorado Association of Realtors’ Diversity & Inclusion Committee!

“Nothing is more valuable than time...and I can't think of a better place to spend some of mine than as a member of CAR's Diversity & Inclusion Committee, " said Malisa. "I have witnessed the impact of volunteering with the Denver Metro Association of Realtor’s Community Alliance Committee over the last year, and I am grateful for the chance to work with my fellow dedicated colleagues at CAR to identify the strengths, issues and opportunities as they apply to Diversity and Inclusion in our industry, both to educate agents and to benefit the consumer.” - West + Main Agent Malisa Miller Eakins

About Malisa:

Malisa Miller Eakins has been selling residential Real Estate across the greater Front Range for many years…but that’s not why you want to get to know her. She’s filled to the brim with experience, local market knowledge, and sass. Her business is built from repeat clients and referrals…and that’s no surprise, once you work with Malisa, there’s no looking back.

Whether you’re buying your first home or looking to build upon your extensive investment portfolio, Malisa will make you feel like you’re her only client and top priority…and she’ll fight like the Mama Bear she is to ensure you get the best deal, make the most informed decisions, and capitalize on every opportunity available in your situation.

When she’s not advocating for her clients, building her skillset, or mentoring new agents to follow in her deep footsteps, you’ll find Malisa in the middle of the action…cheering her girls on from the bleachers or the audience, giving her time to local schools, non-profits and causes, or going above and beyond to make her community and industry better places to be. Need a local recommendation? Ask Malisa to share her faves…she can’t wait to fill you in!

About CAR’s Diversity & Inclusion Committee:

The Diversity & Inclusion Committee purpose is to explore and identify the inclusion and diversity strengths, issues, and opportunities within all aspects of CAR.

Two West + Main Agents Appointed to Market Trends Committee at DMAR!

Huge congratulations to West + Main Homes agents Nick Di Pasquale and Molly Polinkovsky, who, after a lengthy and competitive application process, were recently appointed to the Denver Metro Association of Realtors’ Market Trends Committee!

"I am a genuine analytics geek who sees data much like a writer sees words — there are limitless combinations and stories waiting to be told,” said Nick. “And there is much more we can learn as we dive deeper into our market data. I am excited to jump in, discover, and share those stories."

”It’s such an honor to have been selected to sit on the committee. I’m excited for the opportunity be a part of interpreting the monthly data and helping establish a data-driven narrative around understanding the market in Denver,” said Molly. “Especially during a season of such unprecedented competition and in an environment that can often feel chaotic, I’m a big advocate for using the committee’s data, rather than headlines or fear, to set the strategy and inform decision making. I’m thrilled to be able to bring a deeper understanding of the market trends to my brokerage and to my clients as a competitive advantage.”

About Molly:

Born and raised in Hawaii, Molly Polinkovsky moved to Boulder, Colorado in 2001 but still lives by the spirit of Aloha - and of course visits the islands, as well as other favorite destinations including Tulum, Palm Springs and NYC as often as possible!

Molly's Real Estate clients benefit not only from her deep market knowledge in both the Boulder and Denver areas (she currently lives in LoHi with her fiancé), but also in her eclectic professional background, which included working her way to a Marketing Degree at CU Boulder as a Wedding Photographer, and a long-term corporate gig in Big Data and Advertising Technology. She gets to use that wide + varied skillset, which also includes a strong understanding of both analytics and financials, combined with a passion for lifestyle and design every day while helping people identify and achieve their Real Estate goals and dreams!

When Molly isn't helping her clients make smart moves + investments, you might find her tackling a DIY home project: reupholstering and building furniture, tiling and even just rearranging her personal space to create a fresh new vibe. Molly also enjoys the connections that she has made on the junior advisory board for the Center for Ethics & Social Responsibility at the CU Business School and Chabad on Campus. Looking for a new coffee shop, dog park, or home decor source? Ask Molly, she would love to share her local and online favorites!

About Nick:

With a passion for real estate, a desire to help others, and a love for Colorado, I left the corporate world in 2019 to become a real estate professional full time. And after helping many great people buy and sell, while meeting many more in the process, I could not be happier with my choice.

Two decades of program and operations management taught me to be savvy, dynamic, and calm no matter what was thrown at me. This helps me to orchestrate the various moving pieces of a transaction where I aim to stay several moves ahead, keeping my clients informed and in the strongest position possible.

Naturally a problem solver and connector, I am grounded in the belief that we all go farther working together. Underlying everything I do is an emphasis on authentic, personal connection with everyone I meet. To me, clients are like family and family is for life.

Settling in Colorado in early 2018 with my orange tabby and trusty sidekick for the past 15 years, Peanut, I see why so many people love this state. I fell in love with Denver and through my own exploration and curiosity, developed a deep knowledge of the city, its various neighborhoods, and its high-rises.

Simply put, I love this city and I am excited to share it with you — and not just the real estate — it can be a Rockies game, discussing where to score the best vegan cupcake, or exchanging ghost stories about Cheesman Park… anything!

About DMAR’s Market Trends Committee:

The DMAR Market Trends Committee, part of the Denver Metro Association of Realtors®, provides timely, consistent and relevant monthly summaries of valuable local real estate market statistical data for both its members and the general public. Statistics from the Denver Metro Real Estate Market Trends Report provide data for the following counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park. Source of the reported data is REcolorado.

“It’s such an honor to have been selected to sit on the committee. I’m excited for the opportunity be a part of interpreting the monthly data and helping establish a data-driven narrative around understanding the market in Denver. Especially during a season of such unprecedented competition and in an environment that can often feel chaotic, I’m a big advocate for using the committee’s data, rather than headlines or fear, to set the strategy and inform decision making,” said Molly. “I’m thrilled to be able to bring a deeper understanding of the market trends to my brokerage and to my clients as a competitive advantage.”

Use #DMARstats on social media to stay up-to-date with relevant real estate news and statistics.

Intro to Ninja Workshop 2022

Taught by West + Main Agent + Managing Broker Allie Carlson, this 7-session Workshop will help you dive deeper into the Ninja Selling habits and systems to improve both your Real Estate business and your life. We highly recommend that you commit to the entire series!

Please read Ninja Selling by Larry Kendall prior to the first class. You can find it here.

Please read The Go-Giver by Bob Burg and John David Mann too. You can find it here.

We also recommend buying a $19.99/mo subscription to the Ninja You video series here.

We’ll share our recommended episodes on the Ninja Selling Podcast. Listen to it here.

Please DM Allie on Slack or reach out to allie@westandmainhomes.com with any questions!

This is not an official installation. Lessons are based on Ninja fundamentals.

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Workshop Schedule 2022
by Allie Carlson

** 9PT/10MT/11CT/12ET **

Session 1 - Ninja Mindset - Tue Jan 4th - WATCH REPLAY

Session 2 - FLOW! Thu Jan 6th - WATCH REPLAY

Session 3 - Ninja Business Plan - Tue Jan 11th - WATCH REPLAY

Session 4 - Customer Centric - Thu Jan 13th - WATCH REPLAY

Session 5 - Seller Process - Tue Jan 18th - WATCH REPLAY

Session 6 - Buyer Process + Ninja Path - Thu Jan 20th - WATCH REPLAY

Session 7 - Planner Party - Tue Jan 25th - WATCH REPLAY

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Session 1 - Ninja Mindset
Tue Jan 4th

9PT/10MT/11CT/12ET

⤜Download: Week 1 Resources→

Audio version will be on Spotify + Apple + Google + Anchor each week!

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Session 2 - FLOW!
Thu Jan 6th

9PT/10MT/11CT/12ET

⤜Download: Week 2 Resources→

Audio version will be on Spotify + Apple + Google + Anchor each week!

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Session 3 - The Ninja Business Plan
Tue Jan 11th

9PT/10MT/11CT/12ET

⤜Download: Week 3 Resources→

Audio version will be on Spotify + Apple + Google + Anchor each week!

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Session 4 - Customer Centric
Thu Jan 13th

9PT/10MT/11CT/12ET

⤜Download: Week 4 Resources→

Audio version will be on Spotify + Apple + Google + Anchor each week!

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Session 5 - Seller Process
Tue Jan 18th

9PT/10MT/11CT/12ET

⤜Download: Week 5 Resources→

Audio version will be on Spotify + Apple + Google + Anchor each week!

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Session 6 - Buyer Process + The Ninja Path
Thu Jan 20th

9PT/10MT/11CT/12ET

⤜Download: Week 6 Resources→

Audio version will be on Spotify + Apple + Google + Anchor each week!

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Session 7 - Planner Party
Tue Jan 25th

9PT/10MT/11CT/12ET

⤜Download: Session 7 Resources→

Audio version will be on Spotify + Apple + Google + Anchor each week!

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The Inspiration Lab Podcast: Featuring West + Main CEO Stacie Staub

Episode 27: Making the Inc 500 List and Why Growth is Hard but Worth It with Stacie Staub

APPLE PODCASTS | SPOTIFY | GOOGLE PODCASTS | LIBYSN

Making the Inc 500 List and Why Growth is Hard but Worth It with Stacie Staub

As we close out our small business series, Stephanie sits down with her friend Stacie Staub, founder and owner of West + Main Homes and Colorado-based Real Estate expert with over 15 years of experience in both residential sales and industry marketing. West + Main Homes was recently featured on the Inc 500 list and has had an incredible trajectory of growth. Stephanie and Stacie discuss the reality of growth, why it’s sometimes hard and how to push through that, and why it’s so beneficial in the long run.

Check out West and Main

Find West and Main on Instagram

Check out The Inspiration Lab

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723 Descriptive Real Estate Words for Listing Descriptions

To help you get over your writer’s block and find the perfect real estate words for your listing description, the pros at The Close put together this swipe file of 732 words that top listing agents use to market their properties.

[Related article: How to Write Creative Real Estate Listing Descriptions (+ Examples)]

Creative Words to Describe Starter Homes

Versatile
Handyman special
Lots of potential
Ample closets
Full basement
Cozy
Pied a terre
Endless possibilities
Move-in ready
Needs your finishing touchUsable space
Flexible layout
Good bones
Renovated to perfection
A blank slate
Newer (roof, electrical, etc.)
Work from home ready
Bring your contractor
Turnkey
AdaptableImpeccably renovated
Easily converted
Room to grow
Recently replaced
Intimate
Modern amenities
Make it your own
Ready for your personal touch

Creative Words to Describe Modern Homes

Refurbished
Remodeled
Soaring ceilings
Sparkling
Bright
Floor-to-ceiling windows
Open floor plan
Sleek
Clean lines
Energy efficient
State-of-the-art
Brand new
Upgraded
Tastefully remodeled
Well-equipped
State-of-the-artContemporary
Modular
Sliders
Flowing
Modern-living
Engineered flooring
Sweeping
Creatively-updated
Light & airy
Modern flare
Eco-friendly
Fully remodeled
Entertainer's dream
Cathedral ceilings
Smart homeStriking
Mid-century modern
Postmodern
Light-filled
Bathed in light
Clean lines
Oversized windows
Open kitchen
Ideal for entertaining
Open concept
Generously proportioned
Open and airy
Indoor/outdoor living

Creative Words to Describe Luxury Homes

Bespoke
Sought-after
Uncompromising quality
Exquisite
Luxurious
Graceful
Rare
Rarified
One-of-a-kind
Artisan
Pedigree
Triple mint renovation
Noted architect
Chic
Top-of-the-line
Gracious layout
Sophisticated
Desirable
Custom design elements
Architectural tour de force
Chic detailing
Trophy propertyReimagined
Redesigned
Dramatic
Exquisite living experience
Coveted
Prestigious
Sprawling layout
Stately
Opulent
Exclusive
Hand-crafted
Vast
Exquisite
Immaculately refurbished
Tastefully appointed
Distinguished landmark
Attention to detail
Dream home
Custom-built
Artisanal
Architectural masterpiece
Polished & sophisticatedRemarkable
Notable
Renowned
Desirable
High-end
Panoramic views
Winding staircase
Prewar details
Work of art
Jewel box
Masterpiece
Charming layout
Glamorous
Meticulously preserved
Meticulously crafted
Fit and finish
Beautifully appointed
Magnificent estate
One-of-a-kind
A prized property
Dazzling and chic

Creative Words to Describe Historic Homes

Graceful
Timeless
Floor-through
Good bones
Historic
Vaulted Ceilings
Charming
Charmer
Adorable
Cozy
Warm
Rough-hewn
Character-filled
Rustic
Delicate
Herringbone
Cozy
Historic character
Historic charmAntique
Graceful
Cross-ventilation
Victorian
Romantic
Portico
Intricate
Carved
Burnished
Quarter sawn
Filigree
Queen Anne
Wide plank
Built-ins
Crown moulding
Wrought iron
Enchanting
Alluring
Period details
Restoration
Step back in time
Time capsuleCalming
Old-world-charm
Classic
Artisan
Handcrafted
Coveted
Rare
Jewel
Millwork
Original
Craftsmanship
Heritage
Stately
Decorative
Refurbished
Restoration
Nooks & crannies
Pocket doors
Lovingly restored
Original character

Creative Words to Describe Backyards & Patios

Leafy
Old-growth
Shady
Tranquil
Rolling
Bucolic
Pastoral
Private retreat
Enjoy morning coffee in
Refuge
Drought-tolerant
Zen paradise
Lounge in the
A delightful oasisSecluded
Sun dappled
Oasis
Rural retreat
Hidden
Offering the utmost privacy
Park-like grounds
Perfect for entertaining
Manicured grounds
Sanctuary
Sustainable
Restore and relax
Expansive green spaces
One-of-a-kind retreatLush landscaping
Outdoor entertaining area
Grill and chill
Beautifully landscaped
Al-fresco dining
Resort-like grounds
Mature foliage
Old-growth trees
Barbeque ready
Well-maintained
Maximum privacy
Serene and tranquil
Grassy
Sod

Creative Words to Describe Large Homes

Over-sized
Massive
Gracious
Flow
SizableSprawling
Spacious
Grand
Flowing layoutExpansive
Enormous
Generously sized
Soaring ceilings

Creative Words to Describe Small Homes

Cozy
Charming layout
Charmer
Adorable
Well proportioned
Cleverly designed
Comfy
Well-appointed
Perfect floor plan
Low carbon footprintJewel box
Potential
Comfortable
Cute
Abundant storage
Thoughtful design
Captivating details
Tastefully designed
Cheery and bright
Quality craftsmanshipUsable space
Flexible layout
Energy efficient
Great layout
Tiny house
Perfectly balanced
Versatile property
Pied a terre
Environmentally-conscious
Pride of ownership

Creative Words to Describe Neighborhoods

Prime
Desirable
Convenient
Welcoming
Friendly
Near everything [the neighborhood] has to offer
Walking distance to
Tree-lined street
You can’t beat this location!Coveted
Historic
Steps from
Quick commute to
Quaint
Sought after
Quiet
Walkable
Stroll to
Perched above
Easy access toExclusive
Tony
A stone throw from
Moments from
Cute
Tranquil
Near shopping,
entertainment, and nightlife
Nestled between
Location, location, location

Creative Words to Describe Light & Views

Jaw-dropping views
Inspiring views
Relaxing views
Natural light
Sun-drenched
Bright
Sunny
Light-floodedStunning views
Sweeping views
Oblique views
Magnificent vistas
Sun-kissed
Brilliant light
Flooded with natural light
Bathed in light
Incomparable viewsUnobstructed views
Panoramic views
Partial views
Perched above
Picturesque views
Postcard-perfect views

Creative Words to Describe Condition

Meticulously maintained
Turnkey
White box
Handyman special
Lots of potential
Updated
Wonderfully maintained
Pride of ownership
Brand new
Bring your contractor
Tastefully updated
Contractor’s special
Freshly painted
Lovingly restored
Pristine
Gorgeously remodeledMove-in ready
Ready for your touch
Recently renovated
Impeccably renovated
Newer roof
Modern updates throughout
Newly constructed

Creative Sales Words

Won’t last
Taking offers
Opportunity awaits
Catch this opportunity quickly!
So much potential
An absolute must-see!
Not to be missed!Hurry home!
Motivated seller
Deal of a lifetime
A rare opportunity
A remarkable find
Ready for the next owners’ touches
Unique opportunity
Call now for your private tour!Come and get it!
Excellent opportunity
Great potential
Your chance to join
You will never want to leave home
One-of-a-kind gem
Don't miss this classic beauty

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We’re Hiring.

How to Change Real Estate Brokerages Without Burning Bridges

According to the National Association of Realtors, in 2021, the median tenure of an agent with their current firm was five years.

By Stacie Staub

As a real estate agent, in most cases you’re an independent contractor, and you have an agreement with your brokerage that is reciprocal in both benefits and responsibilities. Of course, most of the time, that agreement may be be easily terminated by either party. Are you considering changing real estate brokerages?

With so many different business models, career paths, compensation structures and brokerage-provided tech stacks, marketing offerings, training and support structures and, frankly, personalities in our business vertical, it’s likely that you’ll work for more than one brokerage during your tenure as a real estate professional. 

So, how do you make a smooth, peaceful, and — dare I even say — mutually beneficial exit from one agency to hang your license with a competitor? It’s not easy, but it’s also not impossible.

First and foremost, communication is everything

Depending on your relationship with your current leadership, you may let them know that you’re changing real estate brokerages via whatever internal communications platform your company uses, over the phone, or even just by email, but it’s really important to communicate why you have decided to make a move. 

This typically falls under two umbrellas:

1. You’re not getting what you need from your current brokerage, so you looked around and found one that you think will better serve your career goals.

2. You’ve been happy with everything, but you’ve gotten recruited with an attractive-sounding offer. 

Either way, it’s polite and professional to communicate this to your broker. It’s valuable information for their business, and even if it’s hard to hear, constructive criticism or intel about what their competitors are offering is super helpful. Consider this your parting gift, and an act of gratitude for what the people at your brokerage did help you with or do for you. 

Spread the news with grace and humility.

No matter where you’ve been working, and regardless of where you’re landing next, think about how you want to come across when announcing your move on social platforms. If it’s appropriate, a spirit of gratefulness for the past as well as excitement about the future is a nice balance to strike.

“As much as I have enjoyed and appreciated working with the team at ABC Realty, and will really miss my colleagues there, I am excited to announce that I will now be selling property for DEF Real Estate!”

If there were specific mentors, managers, staff members or company owners who taught, supported and kept you out of trouble along the way, it might be nice to mention them with a special thank you as well. 

Don’t leave behind a mess

If you’re transferring your license in the middle of any transactions, make sure that your files are as clean and organized as possible, and that you are communicating with the staff. Be sure to follow brokerage procedures, standards and protocol as you tie up loose ends, even if you’re no longer on their roster. You’ll be respected and remembered for your professionalism (and it will make it a lot less awkward when you swing by to pick up those last commission checks!) 

Don’t talk crap

As you’re onboarding at your new brokerage, keep it positive. Rather than speaking in a negative way about the things your old brokerage didn’t do or have, stay focused on embracing the systems that you’re looking forward to learning about and using at your new real estate home. You’d be surprised at how often the word gets back and can be hurtful — why spread bad vibes?

Stay in flow

Ninjas will know what I’m talking about here, but sometimes agents forget how important it is to maintain and nurture relationships not only with their clients, but also with industry people — including brokers and agents you have worked with in the past. Add those folks to your handwritten card schedules, engage with them on social platforms, and keep that bridge intact. Real estate is a small town, even in big cities, and you never know when you’ll end up on the other side of a transaction from someone on your old team.

Hopefully there will be hugs at the closing table, not hostility. And, you never know, your new brokerage might not deliver on their promises, and you’ll be knocking on that door wanting to go back, so make sure it’s open to you!

As an independent contractor, you deserve to work where you’re happy, appreciated and supported. It’s also one of the benefits of our business to move your license as many times as it takes to find that for yourself. Just keep in mind, bridges are good to have when you need them, so try not to burn too many down along the way.

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This piece was originally published by Real Trends.

Looking to level up your Real Estate business in 2022?

West + Main is hiring amazing agents in Colorado, Oklahoma + Oregon!

Email CEO Stacie Staub for more information.

National New Home Sales Reach Highest Level in Six Months

Market supply at a 6.3-month level

Sales of new single-family homes rose 0.4% in October from the month prior, at a seasonally adjusted annual rate of 745,000, according to a report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development released Wednesday.

Although this modest increase is a bit of a disappointment after sales increased by 14% in September, it brings the number of new home sales to its highest level since April 2021. However, this number is still 23.1% below the number of new home sales a year prior.

In October, the average sales price of a new single-family home was $477,800. Industry experts feel that higher prices might be pricing some prospective new home buyers out of the market, reflecting concerns expressed by homebuilders in October.

“Higher new-home prices may be pricing out some buyers on the margin,” First American chief economist Odeta Kushi said in a statement. “In October 2020, 36% of new-home sales were priced below $300,000. In October 2021, only 21% of new-home sales were priced below $300,000. Demand for new homes remains strong, but affordability challenges persist.”

At the end of October, the seasonally-adjusted estimate of new houses for sale was 389,000, representing a supply of 6.3 months at the current sales rate. In addition, the share of new home inventory that is not started increased for 21% to 28%.

This increase reflects the 0.7% month-over-month decline in housing starts reported in October. Experts attributed this dip to continued supply chain issues and labor shortages, however the continued high level demand and lack of existing home inventory means that buyers still have an appetite for new construction.

“The lack of existing homes for sale to meet this growing demand nationwide is supportive of new construction,” Kushi said in a statement. “Yet, as we know, builders are facing supply-side headwinds that make it more difficult and costly to build.”

Regionally, on a year-to-date basis, new home sales fell 11.8% in the Northeast and 1.1% in the West, but rose 11% in the Midwest and .2% in the South.

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This piece was originally published by Real Trends.

Looking to level up your Real Estate business in 2022?

West + Main is hiring amazing agents in Colorado, Oklahoma + Oregon! Email CEO Stacie Staub for more information.

10 ways to keep your real estate pipeline flowing through the holidays

Start your business planning early and make 2022 a banner year

By Stacie Staub

Now is the time to plan for 2022 and keep your real estate pipeline flowing all through next year.

Here we are, mid Q4, packing away the halloween costumes and making plans for Thanksgiving week. This is when real estate professionals tend to take their foot off the gas, coasting into the winter holidays like 2022 won’t have bills to pay.

What if you flipped that usual script?

Could you put your 22 planning on hyper-drive using the energy that you have leftover from your amazing 2021 before it fizzles or gets totally wiped out by all of your seasonal celebrations?

Here are 10 things that you should do in the next 10 days to make sure that your pipeline is flowing instead of flat as you approach what is sure to be another record-breaking real estate year:

1. Analyze your last 12 months (LTM). Your last 12 months are the best way to forecast the next 12. Whether you closed five homes or 50, now is the perfect time to run the numbers. Where did your business come from, and which deals made you happiest?

2. Calculate your return on investment (ROI). Even if you’ve been buying online ads (or zip codes) for years, or if you’ve depended on mailers or events to bring you clients, dig in and compare your spend to your return. Are those things REALLY still working, or are you running your real estate biz on auto-pilot?

3. Schedule self-care. Don’t cancel those appointments! Get all of your doctor, dental and eye checkups on the calendar and prioritize them. Your business needs to run like a well-maintained machine, and so do you.

4. Make the most of the rest of this year. Host a cookie exchange, wreath-making party or photos with Santa. Go extra with your client gifts and pop-bys. Make an effort to connect with your VIPs, people who referred you, and vendors who helped you out this year. Relationships = real estate pipeline.

5. Review your 2021 business plan or vision board. Take some time to re-connect with early 2021. Did your business and personal life deliver on the promises you made to yourself? Are there boxes you can check off, have your priorities shifted, and are there things that you’ll carry over into next year?

6. Speaking of next year’s goals…what are they? Whether you’re a 10-page business plan sort of person, or someone who prefers to cut photos out of magazines and manifest them, get it done. Post it somewhere you see it every day. Start making it happen, now.

7. Identify your ideal client. (Agin, which deals make you happiest?) Once you realize the slice of the real estate universe that brings you the most joy, focus on multiplying that piece of your business. It might be working with challenging investment deals, with super-grateful first-time homebuyers, with move-up or downsizing sellers. How can you narrow your business to focus on these types of transactions (and increase your happiness)?

8. Map your budget. By now, you have the info you need to project your total 2021 numbers. Take your closed and pendings, calculate your expenses (don’t forget taxes) and pay the profit forward. You know you have to spend money to make money, but let’s be smart about it, shall we?

9. Treat yourself. Whether your career got de-railed by COVID-19 or you’ve helped more people than you ever thought possible — celebrate! Plan a getaway. Hire that trainer or therapist, or splurge on the DIY project you’ve been waiting to pull the trigger on.

10. Level Up. You know what your sales goals look like, now commit to ONE BIG THING that will either help you get there faster and smoother, or will shift your trajectory long-term. It’s all about keeping your real estate pipeline flowing. It might be a coaching program, a designation, or a career step-up, such as becoming a mentor, team leader, or managing broker.

Keep in mind, your goals don’t always have to involve selling more property, or even making more money. Maybe your focus is on achieving a better life-work balance, raising your dollar earned per hour, or creating and elevating your personal brand.

Your 2022 might be all about working toward some big life stuff, aligning your passions with your profession, or even being a little happier. Take a minute to zoom out, look at where you are right now, and at where you want to be this time next year and get after it. No need to wait for January 1 to start making those dreams your new reality and your real estate pipeline full.

This piece was originally published by Real Trends.

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Looking to level up your Real Estate business in 2022?

West + Main is hiring amazing agents in Colorado, Oklahoma + Oregon! Email CEO Stacie Staub for more information.

West + Main CEO talks about independent brokerage growth at Inman Connect in Las Vegas

West + Main Homes CEO Stacie Staub was invited to Inman Connect Las Vegas to share insights about growing and operating successful independent real estate brokerages.

In the session “In It to Win It: How to Achieve Each Tier of Growth” Stacie shared the stage with the CEO of Red Oak Realty Vanessa Bergmark, and owner at eHomes, Elmer Morales.

“I had a very, very succinct business plan in the beginning,” Stacie said. “And about two weeks later, I threw it away. I’ve not written another one because it just keeps changing. The magic of being an indie is we’re so flexible, we’re so adaptable, we can say yes and then figure it out.”

“When you’re indie you get to make your own playbook and that’s really fun,” she said.

Inman News subscribers can read the recap. Inman Connect attendees can watch the replay.

Refusing to Present Offers to Sellers - Division Advisory

Refusing to Present Offers to Sellers

The Division continues to receive complaints by prospective buyers and their buyer’s brokers that some listing brokers are not presenting buyer’s offers to the seller. An additional complaint is that those listing brokers are refusing to present offers to their sellers unless a particular contract software is being used. Also, there are reported instances where a buyer is represented by a brokerage firm that uses a varying commission model and submits an offer, and that offer is not being presented by the listing broker to their client.

Potential license law violations

These actions can be viewed as reducing the buyer pool and those brokers placing their interests before those of their clients, which can be considered a violation of the license rules, and their Uniform and Fiduciary Duties.
 
Brokers should be aware that the real estate broker license law requires that a broker present all offers received to their seller client. A real estate brokers cannot refuse to present offers to their sellers just because a particular contract software is not being used by the buyer’s broker. These actions are not in the best interests of their clients, and are furthermore harming their clients by reducing their client’s property’s competitiveness in the marketplace. It can also discourage brokers who do not use this brand of contract software from showing properties.

These practices bring up many questions

• Are these actions intended for the benefit of the Seller or Broker?

• Doesn’t the choice of contract software primarily benefit the Broker?

• Shouldn’t an offer from a broker using a varying commission model be treated or presented the same by the listing broker?

• Would these practices create a smaller buyer pool thereby risking a lower price and possible extension of the days on market to the Seller?

• Are these practices promoting the interests of Seller with the utmost good faith, loyalty and fidelity?

• What are the pro’s and con’s for the Seller in these instances?

• Would any of these practices have likely been approved by Seller if all the pros and cons were fully discussed?

• Must these actions be fully discussed and disclosed to the Seller in the Listing Contract?

A broker cannot restrict a pool of buyers by limiting or refusing to provide their seller client offers received without discussing with their client the advantages, disadvantages, and ramifications of doing so, and any such limitation must always be memorialized in writing in the listing contract.
 
A complaint received by the Division in this regard would be investigated to see if a broker did not present an offer to a seller client, and if any full and proper discussion, explanation, and disclosure had been provided by the listing broker to their seller, with a failure to do so possibly resulting in grounds for discipline.

Difficulties presenting offers

As a buyer’s agent, what if you are having a difficult time presenting your client’s offer to the listing broker? Then you can fall back on Commission Rule 6.13 - Offers must be Presented to Other Broker, whereby it states:

“A Broker must present all offers to the other Consumer’s Broker if such other Consumer has an unexpired Listing Contract. If the Broker has made reasonable, but unsuccessful, attempts to present an offer to the other Consumer’s Broker, the Broker must present the offer to the other Consumer’s Broker’s Employing Broker. If no Employing Broker exists, or if reasonable attempts to present the offer to the Employing Broker have failed, the Broker may present the offer directly to the other Consumer.”

Statutory Authority

Under § 12-10-404, C.R.S., a single agent engaged by seller or landlord has certain duties and responsibilities, including, it states in Part (c)(II) “Presenting all offers to and from the seller or landlord in a timely manner regardless of whether the property is subject to a contract for sale or a lease or letter of intent to lease.” Similar language found in § 12-10-405 and § 12-10-407, C.R.S., pertains to a Single agent engaged by buyer or tenant, and a transaction-broker.

EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT
 
Furthermore, in the EXCLUSIVE RIGHT-TO-SELL LISTING CONTRACT, section 5 states under: BROKERAGE DUTIES - “Brokerage Firm, acting through Broker, as either a Transaction-Broker or a Seller’s Agent, must perform the following “Uniform Duties” when working with Seller”: 

• “5.1.1 Presenting all offers to and from Seller in a timely manner regardless of whether the Property is subject to a contract for Sale.”

• In addition to any regulatory discipline, a listing broker not presenting offers to their client pursuant to the listing contract could be in breach of that contract and their fiduciary duties as outlined in that contract. This could result in civil liability for the broker if their client was harmed financially.

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• • Broker Advisory