Connect with us

Real Estate Brokerage

NAR Midyear is underway, don’t miss out on any of the action!

(BROKERAGE) The NAR Midyear conference in Washington D.C. is right around the corner. Stay in the loop on all of the conference happenings!

Published

on

realtors conference NAR Midyear

Conference time! Woohoo!

The 2017 Realtor’s Kick off Legislative Meeting & Trade Expo Conference (NAR Midyear) has begun!

bar
The conference takes place from May 15-20 in Washington D.C., and it’s full of invaluable events for Realtors, whether it’s your first time or you’re a seasoned pro.

What to expect

Attendees at legislative meetings meet directly with Congress members and regulatory agency officials to get exclusive updates on issues affecting residential and commercial real estate.

Speakers this year include Dr. Ben Carson (HUD secretary), Mark Calabria (Mike Pence’s Chief Economist), John D. Worth (National Association of Real Estate Investment Trusts senior VP of research and investor outreach), Roy Wright (FEMA deputy associate administrator), and Lawrence Yun (NAR chief economist).

Here’s a sneak peek of what to not miss at this year’s NAR Midyear:

Tuesday, May 16

Regulatory Issues Forum, 10-11:30AM
Dr. Ben Carson will share the new administration’s housing priorities and discuss the Federal Housing Administration’s efforts to ensure access to mortgage credit. Roy Wright, FEMA deputy associate administrator for insurance and mitigation, will speak on the National Flood Insurance Program’s current and future plans.

Thursday, May 18

Residential Economic Issues and Trends Forum, 8-10AM
NAR chief economist Lawrence Yun will share market expectations for 2017. Get up to date with U.S. homeownership rates with Jonathan Spader, Joint Center for Housing Studies senior research associate. Bonus: Mark Calabria, Chief Economist to Vice President Mike Pence, will offer market insights and the current administration’s view of the industry’s future.

Thursday, May 18

Commercial Economic Issues and Business Trends Forum, 1-3PM
Lawrence Yun is discussing economic activity, monetary policy, and future conditions of the commercial market. He will be joined by Dr. John Worth, senior VP for Research and Investor Outreach at the National Association of Real Estate Investment Trusts, who will give insights on publicly listed company developments.

Friday, May 19

Housing Markets are International, 10:30am-12pm
Lawrence Yun will lead the forum, discussing the impact of foreign buyers and immigrants on U.S. housing demand. Cato Institute policy analyst Alex Nowrastheh will join him in the discussion, which will include a preliminary report on the 2017 Profile of International Activity in U.S. Residential Real Estate.

Also check out

Make sure to check out the trade expo, open from May 17-18, where over 100 industry-leading companies will show their latest products and services.

Registration is free for NAR members.

Prices vary for non-members depending on if you plan to attend the full meetings or just the expo. You can register in advance as a member, nonmember, or exhibitor. Registration will also be available on-site.

Keep up with the conference by following the Realtors® Legislative Live blog, following @nardotrealtor on Facebook and Twitter, searching the Twitter hashtag #narlegislative, or downloading the NAR Legislative app

#NARLegislative

Lindsay is an editor for The Real Daily with a Communication Studies degree and English minor from Southwestern University. Lindsay is interested in social interactions across and through various media, particularly television, and will gladly hyper-analyze cartoons and comics with anyone, cats included.

Real Estate Brokerage

Why clearly expressing your business culture is so critical

(PROFESSIONALISM) Many of us claim to be cultured individuals, but are we business cultured? Let’s discuss.

Published

on

business culture

I like to think that I know a thing or two about vocabulary and its application to everyday life. However, I will admit, there have been times where I’ve thrown around a word or a phrase without being 100 percent sure of its meaning.

This typically happens with broad phrases, and we’re all guilty of it. But, what’s cool about language(s) is that it’s virtually limitless, so there’s always room to learn something new.

I’m sure you’re thinking, “okay, Taylor, that’s great and probably not as profound as you think it is. What does this have to do with business?”

Well, one of the phrases I’ve heard people throw around and not actually have it stick is “business culture.” It’s used broadly as a cliche with little meaning behind it, often used incorrectly.

While it’s easy to correctly define such a phrase, it is so general that it is difficult for some to have a true grasp of its meaning. Whenever I’m unclear on something, I go to the smartest person I know for clarity – my father.

My dad, Mike Leddin, is the executive director of a law firm in Chicago. Throughout my life, he’s been my go-to person for advice and explanation, and this was no different when I was seeking the root meaning of business culture.

Since he has a tendency to be more eloquent than I, let’s have him weigh in…

“The business culture within a company is as critically important as the products/services that are produced,” said Mike Leddin. “Creating the right culture, one that fosters teamwork and encourages contributions, thoughts, and ideas at all levels, will be ultimately reflected in the end product/service.”

He added, “The business culture should clearly reflect the social and ethical responsibility of the company, including management’s commitment to act responsible in all ways. Properly communicated Mission and Values Statements both internally and externally, will not only define the goal and objections of the organization, but also the manner in which these be will be sought and achieved.”

What stuck with me most was his conclusion:

“Business culture is not simply a statement or goal, it is the result of the manner in which we act each day.”

This idea of business culture is important for every team member to keep in mind as we walk into work each day. Questions such as: “What am I providing people?” and “Why should they trust me?” should factor into your definition of business culture.

A company is only as strong as its morals and values. Make sure yours has one that you believe in, lest you be just another brokerage in a sea of competitors that don’t lack clarity.

Continue Reading

Real Estate Brokerage

Why real estate brokerages are not startups

(REAL ESTATE) Brokerages are popping up nationwide that are sleek and modern, and also misinformed as they call themselves startups. Let’s talk about the technical definition.

Published

on

real estate startup

Businesses that are just starting out often refer to themselves as startups (which is inappropriate given that startups are funded differently, scale differently, and have completely different KPIs). Take real estate brokerages, for example. An increasing number call themselves startups, but when you look at the definition of a startup, can you really call yourself one?

Small businesses and startups have very different definitions (and there’s no shame in being a small business or an “innovative brokerage”). Let’s discuss.

1. Startups have a different goal altogether.

Typically, startups are about growth. They’re designed from day one to scale extremely quickly. Small businesses are often limited by a target market or geographic location. There’s nothing wrong with that, but they aren’t scalable the same way an international software brand is. Think about scaling in terms of a beauty salon versus MatchCo, an app that uses technology to create a foundation just for you. A franchise does not a startup make.

2. Startups generally seek outside funding to accelerate growth.

Startup founders often give up equity shares to generate funds before becoming profitable. Small businesses are typically self-funded, bootstrapped into profitability, and owned by one or a select few. A small business venture is typically less risky than a startup, too. The idea behind a small business venture is profit, and you want the business to last. Startups are structured to be sold or acquired once it hits critical mass – a “startup” is temporary.

3. Startups disrupt the industry.

Think about these companies – AirBnB, Google, Dropbox, Facebook, even Apple, a long time ago. In their early days, they were startups. It was risky to invest in these companies as they were trying something new (not iterating on something like the real estate practice which is one of the oldest professions in America), but they have outshone their competitors. They disrupted the marketplace. That’s what a startup does. And it doesn’t always work. Sonitus Medical attempted to disrupt the hearing aid market. They raised almost $90 million in funding before the Centers for Medicare & Medicaid Services decided the product wouldn’t be covered. The company held an auction and closed its doors. Brokerages have experimented with paying salaries, going paperless, or having all agents working remotely – these are all fabulous innovations and iterations, not disruptions.

The takeaway

We’ve been on the forefront for over a decade of ushering in the era of indie brokerages, paperless real estate brands, and counter-culture companies, but brokerages are simply not startups, and this is not up for debate. Iteration is not innovation.

Don’t call yourself something you’re not – be an “innovative broker” and rock it, because you’re not a temporary company seeking to scale so rapidly that you’re acquired for your indisputable disruption.

And finally, don’t fall for real estate brokerages pitching themselves as “startups” when they’re misinformed and really mean they’re simply, and beautifully “modern.”

Continue Reading

Real Estate Brokerage

Why you must suddenly improve your behavior during showings

(TECHNOLOGY) No longer just for secret lair owners, doorbell cams are on the rise. Make sure you’re on your best behavior when showing a property or your clients will know.

Published

on

ring doorbell showings

Everyone is watching you all the time, and no, this isn’t paranoia speaking. Many homes now have security measures in place beyond a basic alarm.

As a real estate agent or broker, when you’re showing a property, keep in mind the age old adage: if you don’t have something nice to say, don’t say anything.

More homeowners are installing security cameras, which can broadcast audio and video directly to their smartphones. So even if your client is at work, they can see and hear everything you’re doing if they want to tune in to their camera stream.

Although most listing clients get feedback from tours, they could theoretically check the quality of salesmanship before you even enter the front door during showings.

Ring.com, for example, offers real time info with video doorbells, floodlight cams, and security cameras. All their products broadcast HD video directly to an app available for Android and Apple customers.

Users are alerted any time someone comes in range of the security camera or approaches the door. With two-way audio, homeowners can answer the door remotely through the app.

Amazon recently purchased Ring for a cool billion dollars, so expect to see ownership on the rise. Thanks to some heavy investing on Amazon’s part back in December 2017, Ring products are already integrated as an Alexa skill, so users can interact with Ring security products through their Echo devices.

Google-owned Nest cams pick up motion as well, and even simple indoor motion cams will alert owners of someone’s presence. With the power of wifi and a security camera, homeowners can track your activity on showings.

Avoid the classic theater nightmare scenario where an actor gets caught trash talking backstage because oops, their microphone was on an the entire audience heard everything.

You don’t want to put yourself or company in a compromising situation because something that should have been said in confidence got captured on a doorbell cam outside, or a security cam inside.

Of course, you are already on your most professional behavior when you’re showing a home, cameras or not, but keep in mind that it’s now even easier for clients to monitor their home’s interior and exterior activities.

Continue Reading

Emerging Stories

shares

Get The Real Daily
in your inbox

subscribe and get news and EXCLUSIVE content to your email inbox