How New Agents Can Strike it Rich in Real Estate
In January 1848, James W. Marshall saw something shiny in Sutter Creek that would spark a chain of events known today as the California Gold Rush. Hardly two years later, more than 100,000 had people flocked to California with dreams of striking it rich. By the mid-1850s, that number had swelled to 300,000. Since the beginning of 2019, 193,959 people in the United States have rushed to their local real estate Commissions in hopes of cashing in on the current real estate boom. Fortunately for these individuals, the trek was not quite as arduous as it was for 49ers. Today’s rush is most evident not in the Golden State, but in the Sunshine State. In 1855, one in every 90 people in the United States was panning for gold in California. In 2021, one in every 102 Floridians is selling real estate. In August, there were 37,482 active listings in Florida, down 32.4% from the previous year, while the number of real estate agents in the state had increased by nearly 10% in the same period. As of September 30, there was on average just one sale for each of the 210,923 agents in the state. This trend can be seen nationwide as the total number of NAR members across the country has increased 7.73% year over year. As more real estate professionals vie for the same sale opportunities, the questions facing each agent becomes more visceral: “Why should a client choose you and how can you differentiate yourself from the competition?” Here are three tips from our proven system for business development to help you answer that question and strike it rich: Join the strongest team in your market Approximately $2 billion of precious metal was extracted during the Gold Rush; however, most of that wealth was concentrated among relatively few miners. (More wealth was actually created by merchants—such as Henry Wells, William Fargo, Levi Strauss — supporting the miners than by the miners themselves!) Market share is becoming increasingly concentrated among the top firms that have the brand, support, and resources to earn the trust of more clients. Since 2018, the United States has seen an increase in the number of teams as well as the production of those teams. According to RealTrends, between 2011 and 2017, the nation’s top teams increased their business nine times faster than the nation’s top individual agents. Specifically, the top agents increased their collective transaction count by 13%, from 45,000 to 51,000 while the top teams increased their share by 115% from 61,000 to 133,000 units. National Association of Realtors CEO Bob Goldberg noted that, “Real estate teams are an increasingly popular business model in response to consumer demand for a wide range of specialties from their Realtor.” As clients expect not only better service, but also more services to maximize the sale of their home, an individual agent is hard pressed to deliver what a large organization can. An individual agent, on the other hand, has to wear all the hats. With limited time and resources, such a difficult task becomes even more challenging if an individual agent grows his or her business. The quickest and most sustainable way for an agent to maximize income growth is to leverage the support and value proposition a team conveys to focus solely on revenue generating activities. And, as that agent accelerates the development of his business, through the team’s support, he is able to maintain that consistent level of service for all of his clients. Be on the cutting edge, don’t get cut by it Competition in the Gold Rush prompted the development and subsequent adoption of techniques such as sluice-boxing, hydraulic mining, and dredging. Today, if you want to strike it rich, you also must innovate or be left behind holding an empty pan. Those who effectively identify and implement the most impactful technologies will beat the rest to the punch. According to NAR, 73% of recent buyers and 77% of recent sellers contacted only one agent before selecting their agent. It pays to be the first one on the scene, and technology is the means by which you can reach more potential clients before the competition and after the competition has given up. Dig hard and smart R.U. Darby, a Marylander who caught “Gold Fever,” journeyed out west and struck gold, but after a few carts the gold vein disappeared! He persisted and continued to drill in desperate search of locating the vein again. Without any luck and having exhausted his funding, Darby sold his mining equipment for $200 and returned home. Darby, like most prospectors, had no mining experience or expertise. Neither did the man who bought the machinery; however, he called in an engineer to locate the vein, which had been just three feet from where Darby had been digging. By aligning with any industry expert, a “junk man” became a multi-millionaire. Many people get their real estate license thinking that it’ll be quick, easy money. This is exacerbated by the fact that the barriers to entry for getting your real estate license are admittedly low. It seems many have the subconscious presupposition that because it’s so easy to become a real estate agent, it must also be easy to make a lot of money. In reality, it takes hard work, industry expertise to really achieve the promising income so many seek. Residential brokerage adheres to the Pareto Principle in that the top 20 percent make an outstanding income, but that is because they are the ones willing to do the work that the other 1.3 million agents aren’t. You need to make it your mission to get a piece of business every single day. You should leverage the experience of industry experts to avoid paying the dummy tax because, like with R.U. Darby, one mistake could cost you millions. source
Styling Your Home for Fall
The leaves are starting to change, and while the magic is happening outside- it’s up to you to bring the prettiest season of the year indoors. Welcome fall, in all it’s glory by creating the coziest autumn space in your home with a few festive interior design choices. Follow these seasonal styling tips to fall-ify your home room by room: Foyer Create the warmest welcome with fresh or dried flowers in harvest colors, an autumn wreath on the front door, and a vintage throw runner underfoot. KitchenPlace ironstone dishes on open shelving in white, cream, and beige tones, and scatter in a few white pumpkins for display. Create a fall tablescape with a harvest centerpiece by placing gourds and pine cones around a vase filled with feathers and/or sheaves of wheat instead of traditional flowers. Add a basket or bowl of apples to your countertop to tie everything together. Dining RoomPlaid table trimmings, garland, napkins, and a festive table runner will instantly scream fall. You can’t go wrong with a classic red and blue plaid, but if that’s a little too much color for you, then opt for a neutral colored plaid. This will give your dining room table a more subtle fall feel. Living/Family RoomsAccessorize your coffee table and mantel with brass candlesticks, antlers, and dark shades of fall colored books. If you have a fireplace, keep it lit when you have company to heighten the ambience. Even if you don’t have a fireplace, setting out a few wood logs will help bring the space together. BedroomsAside from switching out linens to be fall colors, put out candles on the nightstand and dressers. To bump up the fall feels and in some fall scents like pumpkin spice and apple orchard. As for how they look, pick ones that are deep velvets, rich greens, or even jet black to change it up from the cliche fall colors. Throwing in one or two sleek gold candle holders will take the space to the next level. BathroomsA fresh bloom or two can brighten up your bathroom any time of the year. Try displaying bright orange or red mums (a favorite of our Professional Home Stagers for the fall season!) on your bathroom sink and shelves to instantly add a festive feel to the small space. As always, candles are a great multipurpose decor piece for bathrooms. Book NooksBook nooks don’t need much decorating for fall since they already express the cozy vibe. Switch out pillows and blankets with fall colored ones, like cinnamon and deep red. Accessorize with just one plaid pillow and the space will be transformed. Front PorchHang a fall wreath on your front door, and display pumpkins, hay stacks, and gourds throughout your porch by lining your front steps or front pathway. Tall sheaves of wheat look great when placed on both sides of your front door. HallwaysIf you want to go the extra mile this year, decorate your hallways too. Options include painting the walls fall colors or hanging a fall printed wallpaper on just one of the walls. For a less time consuming project, dress up a corner of the hallway with a tall vase of sheaths of wheat or cotton branches, and add a few display pumpkins around it. Source
How to Incorporate Color in a Small Space
When decorating small spaces, it can be tempting to play it safe with neutrals. It’s time to explore the rainbow and embrace color! Vibrant shades can work in bathrooms, book nooks, hallways etc. when done tastefully. Here are some inspiring ways to introduce more color into your homes’ small spaces. Monochromatic - One way to add a lot of color to a tiny room without overdoing it is by using multiple shades of the same color. For example, if you like the color blue, paint an accent wall a cool blue, then accessorize with a cobalt rug, turquoise lamps, and navy throw pillows. The shades will play together and add instant excitement to the tiny room. Balance the color with pops of a neutral color to not overwhelm the small space. Focus on Accessories - Because you’re working with a smaller space, sometimes colorful walls can overdo it. If this is the case, stick with neutral paint and instead, add in pops of color through accessories and fixtures. For example, add pops of green to your office with plants, a green desk or chair, green desk lamp, or green wall art. The green accessories will be eye-grabbing against a neutral wall. Try Two Tones - Sometimes to make color work in your space you need to balance it with another color. Two colors can complement each other bringing vibrant life to the tiny space, and can help separate the room into smaller, cozier sections. By doing this, you can even make your small space actually appear larger than it really is. Complimentary colors work great for this technique!Complimentary colors:-blue and orange-yellow and purple-green and redPairing a neutral, like gray or black, or pairing two warm colors or two cool colors can also work in a small space. Whatever suits your preference! Top or Bottom Wall Paint - When painting interior walls, rich and dark colors can overwhelm a small space, but this doesn’t make them unusable! These colors work great when you paint just the top or bottom portion of the wall. This will create balance and geometric interest in the tiny space. Use crown molding to separate the color from the non colorful part of the wall. This technique works great in hallways and bathrooms. Back Painted Shelving - Sometimes when it comes to color in your space, less is more. For example, you don’t want a ton of color in your home office because it may distract you from getting your work done. Try painting just the back of your shelving. The pop of color will be just enough to liven up a space without being too overpowering. Source
Categories
Recent Posts
