It is hard now a day for millennial to purchase their first home in the Las Vegas area. The troubles they are having are; they are buried in student debt, working lower paying jobs, and would rather spend their extra cash traveling and vacationing instead of saving for a down payment on a home. It is no secret that when it comes to transitioning into homeownership, millennials have procrastinated compared to the past generations. They spend most days working a low paid job while trying to pay off their student debt and think the only option they have for a home is to rent it; but in this blog I am going to give you a couple of ways you can help transition their thinking and assist them in buying their first home; this trend has slowly been turning around. With the oldest millennials turning 37 this year, more and more in this age group are looking to purchase their first home. Millennials rank as the generation most likely to purchase a home in 2017, making up 34 percent of the pool of home buyers, according to the National Association of REALTORS®. Real estate investors lending restrictions are extremely tight for first-time buyers; a good credit scare has become a 760 instead of a 720 and in some cases, a buyer needs a score of at least 780 to get a lender’s best rate. While millennials may have passed a credit check to score a lease in a tight rental market, their credit score will now be more relevant than ever for securing a loan for a home purchase. If a buyer has less than stellar credit, consider offering him or her these options to improve their score before speaking with a lender. Potential home buyers should be actively use their high limit credit cards so the bank does not shut them down, or so that they do not get a hit on their credit for non-sufficient activity. Your clients should also try and get their credit cards below 50% every month so it is not negatively affecting their score; they can use them all month but paying back 50% of what they used is what is going to make their credit score go higher. Also when you are telling your client about their down payment, being realistic with them and how much money they make is what is going to keep them as a client. A lot of millennials get scared when they think they are going to tack on another loan they cannot afford, or when they think about all the things they will have to pay for when they buy their first home. All in all, slowly but surely millennials are the main people who will be buying homes in 2017, how you approach them is going to be your biggest struggle because most of them are not ready purchase a home. Thinking of simple by effect ways to get them to purchase a home is something that is going to be up to you as the agent.
Each year, it seems the housing market takes on a different tone — and whether it’s going to be a sellers’ market with inflated prices and bidding wars, or a buyers’ market with tons of choices and low prices — there’s no denying that the 2017 housing season is upon us. So what does it have in store? Well, if you’re thinking of listing your home, that’s an important question. Right now is a great time to sell your Las Vegas home because it is a buyer’s market. All over the valley buyers and investors are buying houses like it is going out of style. Buyers are searching high and low for the best homes with the best deals all over the market. Some buyers are even willing to buy a fixer-upper and make it the home that they want it. But do not forget about all the investors out there who are coming in, buying homes for less than market value, so they can flip them and re-sell them. Learn the average percentages; 60 percent of homes in the Las Vegas area will be bought and sold in the months of May to August.; according most real estate blogs. Putting your home on the market in June and July will most likely get you a buyer the fastest because people want to move before school starts at the end of August. No one wants to be moving and unpacking while taking their kiddies to school and battling work on top of that will take you weeks to complete. Trying to get a jump on the competition? Right now we’re on the cusp of prime selling and buying season, and if you list soon, you’ll have less competition than you would if you put your house on the market in May or June, when more homes will flood the market. Since it’s still early, your home can have its ‘moment in the spotlight’ more than it will when inventory increases – and the buyers who are braving the cold to house shop are clearly motivated. Make your listing POP right off the computer, or smart phone, since that is this generations main line of communication.. With homes flying on and off the market lately, having something that is easy to appeal a full time dad and mom where they can look anywhere really will be an advantage to you as the seller. Great homes with mediocre quality photos will be quickly discarded and ultimately get less showings. Sellers should insist that their agent take the time to beef up their online listing so the quality of the home jumps off the screen and gets buyers’ attention. All in all, this Is a buyer’s market right now and homes are flying off the shelves, so making your listing standing out is one way you can have your home close fast. Also do not forget when getting your home photographed, homes that are still furnished catch a buyers eye quicker, because it will give the buyer an idea on how furniture can be placed in the home.
Moving is such a fun thought; you get to re-decorate, maybe have new roommates, and even sometimes get new furniture. When people are moving they are more than likely moving because they want to. Maybe because you want to be closer to your job, or a certain school, or even just want to get away from the neighborhood you have been living in for ten years. The last thing people are thinking about when they go to move is the actual MOVING part. Yes it is fun to go house hunting, but when you find the house you love and you sign your lease and are all ready to move, how are you going to get all your stuff from one house to another? Most people laugh at the idea of getting a moving company because they have the thought that hiring one is too expensive. In reality, hiring a moving company is not nearly as expensive as it seems; in fact, if you compare your driving back and forth for 3 days and taking multiple trips in multiple cars, it really does equal out to be not only as much in gas, but also less of a headache. When you hire a moving company they will typically make your move smooth and trouble-free, plus if you are single and you do not have help; a moving company will take your furniture from one home and place INSIDE the next home, come on how easy does that sound? We are going to talk about a few reasons why hiring a moving company is smart; think about your time to start off with. You will have to pack all your belongings, load them into a car/truck, drive them all the way to your new address, unload them, and place them in the designated place. Keep in mind you will need someone (or several people) to help during this process. Moving requires you to put in so much effort that you may neglect other responsibilities, like switching over your gas, electric and internet accounts a few days before and taking a picture of your meters before you move. You don’t want to end up paying for the new tenants usage or get into your new home with no water or electricity. By hiring a moving company who is trained at handling the actual moving tasks like transportation logistics loading and unloading, you’re free to concentrate on the important tasks only you can handle. When moving on your own, you may have to rent a truck, purchase equipment to lift heavy objects, and hire help to pack and load your belongings. Ultimately, their combined costs may be more than what a moving company would charge you for the entire package. If you were to move yourself, it would probably take twice as long and could cost you more than what hiring a moving company would. Different moving companies have different rates and offer different services, so comparing moving companies, prices, and reviews could save you a lot of money. It is also important to verify that the moving company you plan to hire is licensed and insured so you’ll be covered in case something happens. When you put all of that into perspective, you can see that hiring a company truly is worth it in the end, even though it seems like a lot at first, it ends up being around the same cost, with ten times less of the head ache; but do not forget to do your research before you hire just any company off the internet.
With the heat that has come and taken over the Las Vegas area it is very important that you make sure you HVAC unit are well maintained from the winter. Most ac units decided to start having problems when you need them the most and this summer is no exception. With the heat being over a hundred most days now, I am going to give a couple of tips to ensure your unit stays working well this summer. Having a licensed HVAC tech come out and do an annual check up on your unit will do nothing but benefit you. They can spot a problem before it even starts and fix it before your entire unit crashes. When you call an AC man, please make sure they start by looking for refrigerant leaks. You’ve likely heard of it referred to as “Freon” but this is a brand name for a specific type of refrigerant. Many people think that a system simply needs more “Freon” when it loses its charge, but the fact is that this does nothing to solve the problem. When refrigerant leaks, it means something is wrong. Since refrigerant is such an important part of an AC system, it is designed to stay within the system throughout its life; and leaky refrigerant lines require sealing. When refrigerant leaks, your home is not as cool, which is most noticeable in the hottest months. Technicians can check on your refrigerant line during a spring maintenance check so you can get those repairs ahead of time and save yourself the headache. Also make sure your vendor is cleaning out the condensate lines. This is one you will most likely want to avoid; having clogged lines can cause water to back up in your home which will cause bigger problems down the line. This is included in most annual checks, but make sure you are confirming with your vendor a head of time. During your annual check, make sure your vendor is changing your fan belt, even when it is not broken having it changed a head of time will save you the headache down the line of having no AC over a small part that could have been fixed for very little cost. After you have your vendor come out and check all of those small details on your HVAC unit make sure they are also checking the overall unit. Having them accidently over look things like replacing a system component can cause you a lot of expensive repairs down the line. It is always better to replace a couple hundred dollar part, then having to buy a brand new unit which will be thousands of dollars for the home owner. There is nothing wrong with getting an annual check on your unit and having no problems with it; but there is going to be problems down the road if you never get it checked and end up having the replace it. Also, do not forget to change your AC filters every month; having old dusty filters in your vents will cause the AC unit to over work which will also reduce the life of your AC.
Living in Las Vegas for the summer is not always ideal. With temperatures over 100 everyday it is hard to find things for your little ones to do during the day. Kids love the summer because that means no school (in most cases), but sometimes it gets way too hot for even them to enjoy playing outside! When you are thinking of all the fun things you can do with the kids, start thinking INSIDE the box. You do not have to go to extremes this summer to have fun with kids. Start off with something simple like a slip and slide; it will burn a ton of their energy while keeping them cool in the water. If that is not something that would work for your family, try something a little selfish; have the kids wash the outside of the family car. Playing with soap and water outside with the family is so effortless but will satisfy not only the kids but you as well. The best part about washing the car is not that the car will be clean, but it is the fact you will be spending quality time with your little ones. Let’s stay outside; get a big bag of water balloons. You do not only have to have a water balloon fight, there are TONS of games on the internet that you can look up to have hour’s worth of fun outside with your kiddies. If you have smaller kids, get a pack of those colorful kitchen sponges that come in multiple packs; cut them in to strips, and tie them together, then soak them in water and they will turn into fun sponge ball! They soft, easy to grab, and they do not break like water balloons so they are safe for kids. Take the kids swimming, or to a splash pad; that way they can burn all their energy running around and playing in the water. Both of those are also really good for kids without siblings because they will not have to play alone; there is ALWAYS other kids playing at the pool and the splash pad just waiting for a new friend. How about a frozen drink to cool everyone down? All you will need for this is water, ice, Kool-Aid and a blender. Mixing all of that together to make the family a home-made slushy to enjoy while they are trying to beat the summer heat. Never underestimate the power of a well-place hose in your yard. Hanging a hose from a tree branch with a sprayer on and letting the kids run through it will kill two bird with one stone, not only will the kids enjoy a day in the hose, it will also water your thirsty grass on this very hot summer day. Finding water guns at places as cheap as the dollar store can really make your kids day; set up “safe zones” where they can run to, and put out things like trash cans, cars, and having the kids hide behind trees for them to have a full day real life Modern War Far. There are multiple things you and the kids can do to be this summer heat; get out there and get wet!
If you are an agent in the Las Vegas area, and you are not hiring a professional photographer there are some tips I can give you to make your listing look more appealing to the buyer’s eyes. In this blog we are not only going to talk about tips to make your listing stand out, we are going to talk about things to avoid when taking photos of your listing. First thing you are going to need to think about is the equipment you will need when photographing the home; recommended things are getting a tripod, and more than one lenses. When you bring a tripod you are ensuring that your photos will be at a good angle, and also your photos will not end up being blurry when balanced on a tripod. After you have your tripod think about what lenses you will want for the home, yes when you are photographing big rooms and closets you will want a wide lens, but if you want to photograph things like details on the stairwell you will want something a little more precise than a wide angle. Going to the home before the initial shoot will really give you a good idea on how you would like the photos to come out. After you think about all the ways you would like to photograph the home, sign a contract with your seller. This might be a no brainier for most people, but if you are naive like me, you will show up thinking the home is ready and what was supposed to be a 30 minute shoot will turn into a 4 hour process of cleaning, staging, and then photographing. Make sure you know what you are getting yourself into before you go to the home. Signing a contract with them will make sure both you and them are covered in this process. After the photo shoot, use regular editing. Yes, everyone wants their photos to look amazing and make the home look better, but over editing your photos can really turn your buyers off when they come to home and it is not at all how it looked in the photo. After you have done the shoot and edited, try and have a quick turnaround the faster the photos are taken and uploaded, the faster you can upload them to attract the buyers. When thinking about all the good things in photographing your own homes, you have to think of the negatives as well so you are not blindsided. Unless you have your own good lighting you will really need to plan out the time you are going to photograph the home so it is not too bright but also not dark. Nature lighting is the best lighting, but the weather does not always work out in your favor. When you are planning to photograph the home, really explain the importance of having it staged and cleaned to your seller so there is no confusion. Maybe even rearranging their furniture so that it makes the home more bright and open can really upgrade your photos. Starting to photograph you homes can be tricky at fight, but after you get all the equipment and editing soft wear the photo shoots will become a breeze.
The real estate business is constantly growing with competition. Most agents find it very hard to make their business different from others; it is difficult but not impossible. If you look at other brands like McDonalds, Burger King, and Wendy’s they are all basically the same thing, but they are all successful because they all offer different things that make their business stand out from the rest. Thinking out side of the box will really get buyers and sellers reaching out to you to try and get you to help them. Most people have a big plan for their business, but do not have the resources to start it. Here are a couple different ways you can stand out from the competition; first thing, provides legendary customer service. Most people think this is a no brainer, but it is actually one of reasons people will shy away from you as a Real Estate agent. Finding out exactly what your client wants, and not trying to figure it out for them will really help you when helping keep your client. Having a good attitude even after showing them 15 properties they did not love will keep them around for you to make your commission at the end. When you have good customer service with your clients you build relationships with them, which help you when find them home! If you make a mistake, something big or small, let them know and see what your best option is to fix it. Keeping your clients trust is what will keep them as your client, once you break their trust they will no long want to work with you. Going along with that, being honest with your clients about what you offer and what you can help them with is what will make you stand out from the all the other real estate agents in the Las Vegas area. Can’t deliver by a due date? Call and let your buyers know. One of your field reps messed up on a bid? Immediately have a tough conversation with your client. Lying to customers is like shooting yourself in the foot. If your customers catch you lying, they will lose faith in you and may even spread negative feedback about your business. One common form of dishonesty in business is failing to share bad news. When you are thinking about the things you can make different about your small business, try starting a blog. If you are tired of being looked over, get on here and start writing. Write about fresh ideas, write about the market, people love to read things on the internet, start being one of those things; be sure you are not just shoving your business down people’s throats not only can you talk about the market and your business, write about entertaining and educational content. Offer your clients a guarantee. Can you guarantee next-day delivery? Are you confident enough in your product or service to stand behind it 100%? If so, guarantee it. Adding this type of assurance to your marketing message shows customers and prospects that you truly care about their satisfaction. Here’s the only thing you need to remember: you must back up your guarantee if and when the time comes.
When you pass your Real Estate test, and become a new agent you see a heap of opportunities lying right in front of you, but sometimes you do not know where to begin. The excitement you are feeling could potentially be replaced with frustration and self doubt very quickly. Reality hits new agents very hard when they realize this business is not cookie cutter, and a lot of hard work has to go into building your business at the beginning. When you first start in Real Estate you will need to turn the role of an employee collecting a commission check in to an entrepreneur both mentally and financially. If you are always waiting on the next commission check, you will forget to build a relationship with your current client. When you build a relationship with your client it will help you a lot with future clients. Not only will they keep you in mind when they want to buy or sell, they will also recommend you to friends and family who are looking. When starting out in Real Estate, it highly recommended you go to small-business training seminar. Those seem silly, but when your pay is sporadic is very important you learn about money management. You might close three big deals in a month but then will not close one for 6 months, and when learning how to manage your money and business, it will help you stay afloat when no money is coming in. A lot of people when they first start out in Real Estate typically have another job, and try and do real estate on the side that will eventually frustrate not only you, but your client as well. Clients want someone who is willing to show them homes anytime of the day, and on any side of town, not being available to work around your clients schedule will push them to want to work with someone else. When you become an agent in the Las Vegas area it is very important that you choose the right brokerage for you and your future business plan. Starting out for the very first time in a very big office with no help from other agents can put you behind in learning how to do things they do not teach you in school, but going to a smaller business where the broker has time to sit with you and help you when you are having a problem can really help you when you are first starting out in this business. Also when you are first starting out in real estate, it would be very smart of you to find someone who has experience and is willing to mentor you. They will teach you the in and outs of this business, and will help you in difficult situations. They may even give you some of their leads, and help you through them with just a referral fee. Starting out in Real Estate seems so easy, with easy fast money, but there is a lot of work that needs to go into your small business. Read about Real Estate and schedule an appointment with a broker and see if this job is right for you.
Do you as an agent feel like you could save your client’s way more money? Not only money on properties, but also save them on money monthly with their current lender. Most home buyers go with the first quote on their loan that they get, but if you have your buyers shop around for a lender who is going to give them the best monthly rate and the best interest rate, they will not only save money monthly, but will save money in the long run when the interest is racking up. Lenders can offer a wide dispersion of rates all depending on your monthly net worth and your credit score; but even though your credit score is not going to change if you talk to a different lender, they have ways to get your interest rate down, and get your qualified for more money. If your client does not have room to budge on their loan, try looking for homes that are already flipped and move in ready. Lately, flipping homes in Las Vegas have been the thing to do, almost every home on the market, has upgrades some as little as new landscaping, to as big as having the entire kitchen re-done. Depending on the neighborhood they are looking for and the amount of money they get approved for, the homes that have upgrades are a being “flipped” could potentially make the price on the home go up, but when they purchase it they will not have to put any more money into it. Looking out for the best interest of your buyer will not only gain their trust, but will leave an imprint on them where they will want to refer you when friends and family are looking to buy or sell a home. When you are representing the seller, and you are looking for ways to save them money, look up the current or recently sold homes in the neighborhood and see what kind of upgrades are happening in the neighborhood. If all of the homes on the market have upgraded kitchens and your sellers does not, it will most likely sit on the market longer than the other ones, or will not sell in the same price range; unless you are selling it to someone who is going to flip the home! When you run into someone who is going to flip your home, they will more than likely try and purchase your Las Vegas home for less money; and a lot of the times they will be a cash buyer, so they will not need a loan on the property; so that is something to look out for if you are trying to sell your clients home with no upgrades in it; back to representing the buyer, when you are trying to save them the most money for them, look for the key points we hit earlier in the blog; things like, upgraded kitchens/bathrooms, looking around for a lender and not just going with the first quote you get, looking for a home that is cheaper but has the potential to have your own upgraded done to it to make your Las Vegas house start feeling like a HOME!
As an agent, you are going to want to know what your clients really want when they are looking for their forever home; maybe that is something as simple as having a large kitchen, or having a stand up shower in the master! Before getting their price range, and what area they plan on living in, find out the small details that are really going to make homes you have to show stick out versus the ones that do not have small details. According to realtor.com more than half of home buyers are looking for a three bedroom home, and seventy-five percent of home buyers are looking for a two bedroom condo. Not only focusing on every day home buyers, start getting together a list of homes you can show to your investor that would be good flip properties, and good rentals. Working with investors is proactive not only because you will get the commission from representing them, you will also get a referral fee if they decide they want to transfer it over to a property management company. When you are putting together your lists of properties, make sure you are looking for key things like large back yards, garages, and upgraded kitchen appliances; also make sure you are looking at homes with easily maintained landscaping, no one wants to buy a home and have to have the entire front and back yard re landscaped. When focusing on what you clients want, take into consideration what life style they plan to live, if they are a couple with little kids, they might want a bigger back yard for them to play in, if they are an older couple they might want a porch to sit and drink their morning coffee on! According to realtor.com the most desired room in the home is the kitchen. When pulling homes for your clients check to see if the kitchen is either already upgraded, or if upgrades would not be a pain to do. The most desired home style in the Las Vegas area is modern; having beautiful flooring and stainless steel appliances will try turn your home buyers on to the home before they even see the entire home. The top goal when shopping for a home is privacy; in the new homes being built in the Las Vegas area, majority of them are built 5 feet apart, with no back yard, and rarely have a front yard. Forty Five percent of home buyers are looking for a home with a stretch from their neighbors. What is motivating people across the Las Vegas area to buy homes in 2017 are family desires; sometimes that means they have just gotten married, got a pet, or even had a baby. Not only are those things motivating people to buy and sell, people are also moving to be closed to the school they want their kid to go to, or to be closer to their work. All in all, when you are putting together your list of things your buyer or seller is looking for, getting the little details they want for their next home buy is very important.