I first wrote a New Years Resolution Blog last year at this time and the response was so good I decided to update it for 2012….
You know how this works. You commit to a personal goal to start on New Years Day – sometimes you follow through, sometimes you don’t. Here are some New Years resolutions that will take your real estate career to the next level. Accomplishing these goals shouldn’t be difficult, especially if you write down your goals and create a business plan. Ask your Broker for help with this, or ask me.
> Get a Tablet Device
I encourage all my agents to get some sort of tablet device with 3G capabilities. When you are on the road as much as we are accessing the Internet is crucial to providing your clients with the best information. Best of all, you will set yourself apart and your clients will be impressed. I provide my agents with tablet-ready listing presentations and browser-based applications that are accessible on all platforms. Which tablet should you buy? While the iPad is clearly the leader and the best tablet device on the market you can get away with less expensive devices for work-only applications. In addition to iPad, you should also consider the Touchpad and Galaxy devices. As long as you can open a PDF file and a web browser you should have everything you need to be a tablet-enabled agent. If you absolutely must have the best technology or if you already have an iPhone, then you may not be happy with anything but the iPad.
> Automate your business with CRM
Customer Relationship Management (CRM) software isn’t just for managing contacts anymore. A good CRM system will allow you to manage thousands of prospects, keep in touch with your sphere of influence, set reminders, send bulk email, store documents and manage your transactions from start to close. Only 17% of REALTORS use a CRM on a daily basis. Join the best agents in the business and utilize the latest technology. For a demo of the By The Sea Realty CRM give us a call.
> Get Educated
The market is changing and you need to keep up. Take advantage of the training at your company and local board of REALTORS®. Consider getting a certification or designation and ask your management if they reimburse for any educational programs. Don’t just get a designation so you can add some letters to your business card. Get the designation for the education and then tell your clients what you have learned and why they should work with you. At By The Sea Realty we encourage continuing education and we offer regular training on topics like networking, technology, business planning and social media.
> Become a Local Expert
In today’s real estate market, it is not just who you know, but what you know. Build your network and attract new customers with the efficient delivery of quality information. Contribute to a blog, send a regular newsletter, keep your web site updated and provide your clients with local market data that matters to them. Knowing your market is your business; sharing that information is the key to growing it. These activities take time and money to be successful, so if your company doesn’t support you, consider moving your business or outsourcing.
> Get in the Cloud and Go Mobile
Can you access your email, calendar and contacts wherever you are including your cell phone or mobile device? If not, try moving your business to the “Cloud” where your mobile devices can easily synchronize with your other computers. Access your CRM and MLS on the go. Stay in touch with your entire database without lugging your laptop around. Today’s mobile devices can even scan and email documents, provide directions to properties and calculate mortgage payments. Setting up all your devices in the cloud can be a challenge so ask your management for assistance in choosing a device and synchronizing with your company systems.
> Move Your Business
Where you hang your license is more important than ever. If you want to take your business to the next level and your company isn’t proving the support to get you there, it is probably time for a change. From global franchises to local boutiques there are plenty of options for agents today. Interview with a few different organizations and make a move now before the market picks up. Don’t just focus on commission split; make sure your new company has something more to offer and is centrally located in your target marketplace.
> Get Social Social media is here to stay and you should consider implementing some basics into your business. There are thousands of social media web sites, but only a few are really worth your time. For starters, you already have a Facebook account, don’t you? Be careful – you don’t want to spam your friends and start “over-marketing” or you risk alienating yourself in the largest social network on the planet. But, it can’t hurt to make sure your friends know what you do for a living and if your company has a Facebook page, consider being a contributor and adding content. Another site you should consider spending some time on is LinkedIn. Its free and at the very least you should have a profile that can be indexed by the search engines. Think of it as an online resume for the world to see. Connect with me on LinkedIn and I’ll share my “LinkedIn for Real Estate Professionals” presentation with you.
We are looking for experienced agents and brokers who share our vision for a higher level of customer service in the real estate industry. We offer cutting edge technology, training and marketing support that makes your business more efficient and provides your customers with better information. If you are looking for a unique company where you can take your business to the next level then By The Sea Realty may be a good fit.
4 months ago I blogged about mortgage rates hitting a 50 year low. Now, with properties values at 2003 levels and mortgage rates even lower (30 year fixed averaging 3.7% in Florida today) we are experiencing an incredible opportunity in an otherwise troublesome real estate market. Analysts continue to discuss whether we are at the absolute bottom and whether interest rates can go any lower and my answer is maybe and probably not. Here are some thoughts for those of you struggling with a buy decision:
It is almost impossible to time the market perfectly. If you are waiting for the absolute bottom you will miss it. Conservative real estate investors stay ahead of the market, buying on the way down and selling on the way up. Good properties in our area are already hard to come by and when priced at market value they sell quickly, often with multiple offers. I see too many buyers miss out on opportunities because they are under bidding or waiting for values to go lower. You can’t make any money in real estate if you don’t buy anything.
If you can qualify for a mortgage, then you should definitely consider borrowing money for your purchase. With rates so low most investors, even if they have the cash, are trying to finance at least a portion of their purchase. They can then use their cash for another property or consider other investments. Let me be clear – I’m not suggesting that you should finance your real estate purchase and put all your cash in the stock market. Discuss your investment options with your financial planner and make sure you keep 6 months to a year of mortgage payments in the bank just in case.
Investors who have a higher tolerance for risk are considering more aggressive strategies. For example, did you know you can borrow money against your investment portfolio, sometimes at rates below prime? For short term investments like rehab and resell (fix and flip), this is a perfect way to keep your money in other investments like the stock market while buying and selling real estate with borrowed funds. A good financial planner or stock broker can assist you with these transactions, but please consider maintaining a low loan to value (or high equity) in your real estate investment in case you need to sell quickly.
Finally, 2 things are inevitable – property values will go up and so will interest rates. Since most of us buy real estate for the long term then it is really hard to go wrong in today’s market. If you want to buy, but the bank won’t loan you money then consider seller financing or other alternative methods. For example, did you know that you can purchase real estate with your IRA? Your stock broker may not share this information with you because their company may not allow it, but specialized IRA custodians will allow you to buy investment property with a self-directed IRA. Don’t have an IRA? Start one or roll your 401k into a self directed plan. Ask your real estate broker if they are familiar with these types of transactions or stay tuned for a future blog post with more details.
According to a report released by Realtor.com, Fort Lauderdale is number 5 on the list of the Top 10 Turnaround Towns in the country. Other Florida towns that made the top 10 include Miami (1), Orlando (2), Fort Myers-Cape Coral (3), Sarasota-Bradenton (6) and Lakeland-Winterhaven (7). Obviously this is good news for Florida and Fort Lauderdale.
The report stated “A decrease in inventory coupled with an uptick in prices earns Fort Lauderdale the number five spot on the report. Inventory decreased almost 38 percent year-over-year, according to Realtor.com’s October data report. Prices have fallen about 46 percent since 2006, but are now going up.”
Keep in mind, this report covers the entire Fort Lauderdale Market. If you’d like to see exactly what is happening in your neighborhood, check out our Local Market Watch Reports with specific data on 15 different segments within the Fort Lauderdale area.
Happy Veterans Day from your Dedicated Real Estate Team at By The Sea Realty
In November 1919, President Wilson proclaimed November 11 as the first commemoration of Armistice Day with the following words:
“To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations…”
Veterans Day Highlights and Events in the Fort Lauderdale Area:
Free Car Washes for Vets all Day on Veterans Day at Lighthouse Car Wash
1048 East Sample Rd, Pompano Beach, FL
(954) 647-9559
Happy Hour and Live Music at Aruba Beach Cafe
4:00 to 7:00 PM – Lauderdale-By-The-Sea
Don’t miss the boat on the real estate market! If you are also considering a real estate purchase while in town for the show then here is a list of properties you may want to consider. Our list contains everything from Las Olas Mansions to waterfront condos with boat slips and we even have a vacant point lot on the Intracoastal waiting for you to build your own custom home. Do you have specific criteria for your boating dream house? Contact us for a custom search or to setup a property tour while you are in town. We can even arrange for a tour by boat so you can truly experience what the Venice of America has to offer. If you’ve never owned waterfront property before, check out our Boater’s Guide to Buying Property.
For starters, you can buy tickets at the show for $18 for one day, $34 for a 2 day pass or $90 for a 5 day pass. If you buy online you save $2. The busiest days are Saturday and Sunday, so if you don’t like the crowds try to go Thursday, Friday morning, or Monday. The Primetime Preview on Thursday is more expensive ($34), but worth it if you want the first chance to buy your dream boat. Yes, the good ones do sell early in the show. Parking at Bahia Mar is difficult and expensive, so consider taking a taxi if you want to be at the marina. Another good option is to park at the conference center and take the water shuttle. Here is the full schedule and link to the Show Management web site:
BOAT SHOW SCHEDULE
October 27-31, 2011
Prime Time Preview:
Thurs. Oct 27, 10am – 7pm
General Admission:
Fri. Oct 28, 10am – 7pm
Sat. Oct 29, 10am – 7pm
Sun. Oct 30, 10am – 7pm
Mon. Oct 31, 10am – 5pm
RARE OPPORTUNITY: Intracoastal Point Lot in Pompano Beach
Opportunities like this don’t come often. This is one of the few buildable point lots in all of Broward County. Just 2 miles from Hillsboro Inlet, this could be the site of your new custom home with plenty of room for up to a 90 foot yacht on the wide Azalea Canal.
The following article was featured in our recent Fall newsletter and received such favorable response that we’ve decided to post it here in our blog so we may keep you updated on our thoughts regarding property valuation.
Ask us for a free CMA of your property
How’s the market? People always ask us “How’s the market?”, but what they really want to know is “How’s the market in my neighborhood?” and “What is my home worth?” The answer to this question is not that simple, especially in today’s challenging marketplace. Your best bet is to have a qualified real estate professional provide you with a Comparative Market Analysis (CMA). A good CMA can be as informative as an actual appraisal and most reports will include recently sold comparable properties and a projected sales price range. Armed with this information and with the help of a good agent you can price your property appropriately and compete for buyers in your marketplace.
What about Automated Valuation Models? Some web sites like Zillow.com have automated valuation models or AVM (Zestimate®). While these models may be a good starting point they are no replacement for a real CMA or appraisal. Do you really trust a computer to value your property?
Is my Assessed Value Accurate? Your county property appraiser will estimate your “just value” every year. While this value is supposed to be representative of your true market value (as of the first of the year), it is not necessarily what your property would sell for. Make sure you consider exemptions, active competitive properties and more recent sales when evaluating your assessed value.
Beach Cleanup: Saturday, October 1st, 2011 @ 9:00 AM
Cleanup sponsored by By The Sea Realty
Help keep our beaches clean, SCUBA dive under the pier and meet your Congressman, all in one morning at Lauderdale-By-The-Sea this Saturday!
We love our beaches in Lauderdale-By-The-Sea and we pride ourselves on keeping them clean. On the first Saturday of every month volunteers gather at the Pavilion to walk our beach and pick up what others leave behind. As the sponsor of this month’s beach cleanup, By The Sea Realty will be providing garbage bags, gloves and bottled water for all volunteers. The town of Lauderdale-By-The-Sea will provide other refreshments and our wonderful chamber of commerce along with other members of the business community will be doing their part as well. Volunteers are encouraged to join us at 9:00 AM this Saturday at the Commercial Boulevard pavilion next to Anglin’s Fishing Pier. If you love our town too then please join us for a fun morning at the beach. The more the merrier!
SCUBA Divers Will Clean the Pier starting @ 7:00 AM
Divers needed to help clean the Anglins Pier reef
Gold Coast Scuba in Lauderdale-By-The-Sea has organized a pier and reef cleanup to begin at 7:00 AM before the beach cleanup. In a coordinated effort between divers and local fisherman, garbage under the pier will be brought to the surface and taken away by boat. If you are interested in joining the cleanup dive please contact Gold Coast Scuba for details at (954) 616-5909 or visit their Meetup web site at http://www.meetup.com/goldcoastscuba/ As of today there are 26 spots left. Divers will meet at Gold Coast Scuba, 229 Commercial Blvd., at 7:00 AM for a briefing before heading to the pier.
Meet your Congressman
We are happy to announce that Congressman Allen West of Florida Congressional District 22 will be joining us on Saturday (schedule allowing). Congressman West is an avid SCUBA diver and will be participating in both the pier cleanup and the beach cleanup. For an opportunity to meet the Congressman please try to arrive at the pavilion by 9:00 AM.
Enter our Raffle – Lots of great prizes
There will be a raffle at the By The Sea Realty booth. Entry is free and prizes include an Introduction to SCUBA class from Gold Coast Scuba, one month of free parking from the Windjammer Inn, a free large pizza from Pa D’s Pizza, official beach cleanup t-shirts and two $25 gift certificates from the Village Grill. Stop by our booth to enter the raffle, the drawing will be at 9:30. You do not need to be present to win, but we hope you’ll stick around town to visit some of our tremendous shops and restaurants after the cleanup.
Tired of Cigarette Butts on the beach?
Our beaches are not an ashtray
John Boutin of the Windjammer Resort has created a unique solution for keeping cigarette butt pollution to a minimum. His answer is providing his guests with a decorative bucket filled with sand that can be used as an ashtray on the beach and poolside. Stop by our booth on Saturday to learn more about John’s “The Butt Stops Here” initiative and too see some of his buckets. We are hoping the initiative will catch on and that more beachfront businesses will participate in the program.
Its been over a month since President Obama signed the Debt bill into law and we still aren’t sure what it all means for the Real Estate Market. I can tell you this much – when the super committee convenes there will be quite a few housing provisions on the table. I don’t have to tell you what could happen to our economy if we do not start to see a more robust housing recovery. Everyone knows housing is critical to our overall economy yet politicians continue to threaten some of our most sacred and growth-oriented programs. For starters, our mortgage interest deduction which has been in place since 1913 continues to be the single best incentive for Americans to become homeowners, and it keeps housing costs down for millions of Americans facing foreclosure. Can you imagine what could happen to our real estate market if that mortgage deduction went away? Well, its on the table and some members of Congress don’t seem to understand the fire they are playing with. In addition, other real estate provisions have been discussed including capital gains benefits, property tax deductions, like-kind exchanges, as well as Section 8 housing and other low income housing subsidy programs.
Don’t get me wrong, I understand we need to address our debt crisis (and I certainly am biased), but any economist will tell you that real estate investment is critical to an economic recovery. I don’t know about you, but I’m not willing to risk another recession and continued high unemployment. Congress will be asked to vote on this by December 23rd and will be anxious to start their holiday break. Lets make sure they make the right decision. Please call or write your Congressmen and ask them to think about our real estate market and what it means to all Americans.
According to Freddie Mac’s weekly survey the average rate for a 30-year fixed loan fell to 4.15 percent last week, down from 4.32%. That was the lowest in more than a half century. Frank Nothaft, chief economist for Freddie Mac said, “The Federal Reserve’s policy statement last week and ongoing market concerns over the European debt market carried momentum into this week allowing all mortgage products in our survey to reach all-time record lows.”
Is it time to refinance or perhaps purchase that dream home you’ve always wanted? With interest rates this low and property values down there has never been a better time to buy. Even investors who typically purchase real estate with cash are leveraging their investment properties in order to take advantage of these low rates.
If you are a hurricane tracker or Weather Channel junky then you already know that Tropical Storm Emily is a potential threat to South Florida. But, are you ready if it actually hits? See our link below for instant tips and join us in LBTS for this free seminar…
Seminar Details:
Get need-to-know information about how to manage your business, and your home, at an upcoming hurricane seminar and continental breakfast presented by the Lauderdale-By-The-Sea Chamber of Commerce and by The Town of Lauderdale-By-The-Sea, Aug. 17.
A line up of communications, response and storm experts will make presentations to local business owners and residents.
Guest speakers include: David Bernard, WFOR/CBS4 Meteorologist; Chuck Lanza, Broward Emergency Management Director; Chief Oscar Llerena, BSO; Brooke Liddle, American Medical Response and Chief Steve Paine, Volunteer Fire Dept.
The seminar begins at 9 a.m., at the Jarvis Hall, 4501 Ocean, in Lauderdale-By-The-Sea. For more information call 954-776-1000.
See our earlier blog post for hurricane preparedness tips:
> Get a Tablet Device
> Get in the Cloud and Go Mobile
Social media is here to stay and you should consider implementing some basics into your business. There are thousands of social media web sites, but only a few are really worth your time. For starters, you already have a Facebook account, don’t you? Be careful – you don’t want to spam your friends and start “over-marketing” or you risk alienating yourself in the largest social network on the planet. But, it can’t hurt to make sure your friends know what you do for a living and if your company has a Facebook page, consider being a contributor and adding content. Another site you should consider spending some time on is LinkedIn. Its free and at the very least you should have a profile that can be indexed by the search engines. Think of it as an online resume for the world to see. Connect with me on LinkedIn and I’ll share my “LinkedIn for Real Estate Professionals” presentation with you.
