Month: March 2018

24 Mar

Surrounded by the very best to Function as Best

Jeff Benson learned a whole lot through the years that factored in to the success of the Milwaukee, Wis.-based property firm he opened in 1979. From his start as a tuned teacher to the sales savvy he developed in the automotive world, a lot of things helped prepare him for his ultimate role as broker/owner of RE/MAX Realty 100—but perhaps none a lot more than the life span lesson instilled by his parents: “Put other people’s interests first and everything shall come out the correct way.” Here, Benson shares how creating a host in which a like-minded, results-focused team could thrive has resulted in four decades of growth, no real matter what the marketplace dished out.

Maria Patterson: Jeff, reveal how you experienced the true estate business first.
Jeff Benson:
WHEN I graduated from college in 1971, I taught for 3 years. Then some social people I have been associated with enticed me into selling high-end automotive equipment. I came across that odd since i have didn’t have any sales skills, but I had taught a few of their children in class and, as a trained teacher, you are involved with sales—you’re selling an intangible. So, I sold to automotive dealerships directly, which gave me an excellent understanding of how exactly to negotiate with people.

At that true point, my old college roommate had gotten into commercial property and development and kept telling me to obtain my property license. So, I acquired and studied my license in 1976. I continued several interviews with a number of the larger regional property companies, when i wanted an exercise program that could give me an excellent level of knowledge of what this industry was about.

MP: What resulted in you opening your personal firm?
I started working at one firm, in 1978 then, I bumped in to the RE/MAX concept and was intrigued. My original partner and I opened RE/MAX Realty 100 in ’79. Our goal was to create a accepted place where we’re able to surround ourselves with other like-minded people. We wished to bring the proper kind of people in and continue steadily to grow our individual businesses. That progressed into a leadership role for me personally really. A few of my past sales experience, not merely in property, however when I was selling automotive equipment—and in teaching&mdash even;came into play. I was influenced by my parents also, who taught me to place other people’s interests first and everything will come out the proper way. And that’s what happened at RE/MAX Realty 100.

MP: Appears like you finished up exactly where you’re said to be! Today just how large may be the firm?
We’ve four locations and approximately 160-170 agents; you can expect full-service title and closing also, and have a home loan affiliation, aswell.

MP: What has been your strategy toward growth through the years?
Everything dates back to making certain you’re in a position to identify the kind of agents you need from the beginning. We’ve been blessed to possess like-minded individuals who think exactly the same way…who wish to care for clients truly. Our goal was in order to open offices through central elements of our marketing areas. We were considering a real solution to help our agents become recession-proof when you are in a position to market north, east, and west inside our locations south. Every once in awhile, there’s an certain section of the metro marketplace that could slow down. We make an effort to make certain our agents are growing their business through relationships with clients who know people around town. Should they have a genuine amount of marketing areas where they will have a sphere of influence, this can help them through the valleys and peaks.

MP: Is practical. With four decades in the continuing business, you’ve weathered some tough markets probably.
I’ve been through several recessions, and what we’ve done each right time is watch the kind of recession we were in. Through the first one, from ’81-’84, when interest levels exceeded 16 percent, we been in an ongoing state where there is plenty of creative financing, and we were blessed that people had agents who have been excellent at understanding negotiations. We could actually recruit throughout a bad time even, entering the recession with just a little over 20 agents and developing about 50. Don’t forget, the 100-percent concept was attractive—despite the fact that our transaction count may down have gone, each transaction was worth a lot more when agents had the opportunity to make that a lot more commission.

The last recession saw more of a concentrate on distressed properties. Through our national brand and regional resources, we helped our agents retool their business for that kind of economy by training them on distressed marketing.

The other thing we’ve been very attuned to as an organization is maintaining a good financial foundation and keeping our debt in order. Whenever we went in to the last recession, we were quite strong financially. Every owner must make sure they will have the financial capabilities to keep to place dollars back to the organization to allow them to assist their agents.

MP: How can you describe your firm’s positioning available on the market? What sets you from your competition apart?
First of most, by riding out many storms, we’ve gained an extremely advanced of respect within the neighborhood marketplace and the. Myself, Kathy [Martello, vice president of operations] and several agents during the last 40 years have already been very engaged with charities, associations, MLSs, boards and committees, including some agents who’ve been recognized at local and state levels. We likewise have an excellent reputation within the true estate community of dealing with other brokers. You want to help solve problems for the agents and their agents and continue steadily to move the true estate industry forward.

We likewise have the best per-agent unit count for companies which are at the very least 100 agents or larger. We’re ranked in the very best 50 of the very best 500 reporting companies in the United States—our small, quiet company in Milwaukee hit the very best 50. Everything comes to the standard of our agents back. That, collectively, sets us apart. We search for individuals or team leaders that are looking to build an ongoing business that’s sustainable and projectable—each day not really a job to come quickly to and begin over.

MP: What most attracts agents to your firm, and just why do they stay?
The support that people offer them, the professional business environment, the various tools and the operational systems, the marketshare and the grade of agents we’ve all around us. We don’t have the frills. We don’t want them to think about this year&mdash just; they’re wanted by us to take into account three, five, 15 years from now. It is a continuing business, and they might have their very own business within it and really grow it. We’ve the longevity also. We’ve experienced and down markets and we&rsquo up; ve seen a whole lot of items that other people running organizations haven’t been through.

In addition, the financial strength we’ve had the opportunity to get through good markets allowed us to weather the storm of a recessionary market. Agents know they will have a accepted spot to come to. We’ve cut support, laid anyone off because of downturn on the market never. If anything, we tried to include help in a down economy.

Kathy Martello: Agents often seek another, shiny object they think may grow and improve their business. But it is a simple business—should they look after clients and first put them, they shall be successful. But they need to be with a company which has great organization and branding, and leadership with an area sense of the marketplace who runs that organization and truly gives them support.

When interviewing and recruiting agents, I ask why they&rsquo always;re considering a move, and they say often, ‘I want support.’ The plain thing we’ ve were able to do on the full years is deliver support to agents on individual levels. In a ongoing company our size, we’re in a position to do that. Us of companies carries a great staff around 24 and litigant Services Division (myself and six others) to have a tendency to their needs…and Jeff is really a master at talking people through their marketing plans.

MP: How can you describe your company’s culture?
I feel we have been a caring culture that helps our affiliates build their very own personal business in your model. The various tools are participating by the culture, the operational system and the branding, and all that helps maintain us in tune with this mission, core and vision values.

MP: So how exactly does your caring culture factor into your method of coaching?
Whether you call it coaching or guiding, whenever we sit back with someone, we’re likely to find out what they would like to accomplish. A whole lot of folks are successful if they reach us, but they desire to take it to some other known level. It gets back again to that question: ‘Where do you wish to take your organization?’ Predicated on their responses, we help them create a plan that incorporates plenty of ideas and concepts gathered from existing agents during the last 40 years. We’re a lot more than pleased to put an accountability program together to allow them to accomplish what they attempt to do. A whole large amount of times, folks are switching careers from corporate America and know the sales and relationship-building process but need to adapt their skills to match the true estate business. We make an effort to provide that additional help, aswell.

MP: How perhaps you have marketed the firm through the years?
Plenty of it has related to the RE/MAX concept—we’ve grown through quality agents who market their high professional standard to clients and prospects. We do local advertising through radio and billboards also. But in the ultimate end, it all comes home to the known proven fact that the branding in the united states is indeed strong. We’re probably the most recognized property brand in the global world and we use that to your benefit. We continue steadily to send exactly the same message—we have been the real home of the very best producer.

MP: How can you stay prior to the curve on technology?
It’s challenging. We leverage the neighborhood, regional and national support from RE/MAX and the operational systems and technology they offer. We use that as a springboard and do the others within our Client Services Division, where we help and train agents understand new media and new technology.

MP: What’s waiting for you for the firm’s next decade?
You want to continue steadily to expand our local marketplace with quality agents. We wish to keep to expand our footprint in Southeast Wisconsin also. There are a great number of great things here happening. The Foxconn [electronics factory] deal provides a large number of jobs to Wisconsin and offshoots of local companies.

MP: Appears like you’re well-poised for further growth&hellip even;
We’ve been blessed in order to grow through mergers, affiliations and acquisitions, also to deliver our value proposition to attract quality agents. We’ve been blessed with employees and agents which have stayed around for 10, 20, 30 and much more years. Most of us recognize that without our agents, this organization is nothing. It dates back compared to that basic belief that should you surround yourself with the very best group, you’ll forward continue steadily to move.

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Patterson_Maria_60x60Maria Patterson is RISMedia’s executive editor. Email her your property news ideas at For the most recent real estate news and trends, bookmark

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22 Mar

Low Inventory, Rising Rates and a Bustling Spring Market

Spring here is, and, with it, a busy home-buying and -selling season. While areas may differ by region widely, housing is seeing similar developments in the united states currently.

The Kiplinger Letter, an online source for personal finance business and advice forecasts, shared spring market trends recently. In accordance with Kiplinger’s David Payne, staff economist, and Rodrigo Sermeño, reporter, REALTORS® can get tight inventory, increased buyer competition and a rise in interest rates over the board this spring.

The biggest obstacle? Not homes enough, particularly in heavily-populated areas among others that quickly are growing.

“Buyers should expect tight inventory of existing homes over the nation, in fast-growing metro areas such as for example Denver particularly, Dallas, Portland&mdash and seattle; but most major metros in the West and in the South also,” say Serme&ntilde and Payne;o.

Buyers come in full-force out, sufficient reason for less inventory to pick from, they’re flocking to any available homes within their price and submitting aggressive bids.

“Buyers should expect more competition for entry-level homes, both new and existing,” Serme&ntilde and payne;o say. “Tight inventories of existing homes will result in bidding wars in lots of markets likely.”

What the sorely needs at this time is new construction, and that’s where in fact the South is prospering.

“The South is seeing strong growth in residential construction, including starter homes,” say Payne and Sermeño. “Builders are adding entry-level homes using markets in the South gradually, such as for example Dallas, Atlanta and phoenix. Some builders are concentrating on peripheral areas around these populous cities, where it really is cheaper to allow them to build entry-level homes.”

According to The Kiplinger Letter, later this season buyers in the South and West can get new homes out there, duplexes and townhomes especially; however, new-construction growth is slow over the U generally.S. because of high costs and insufficient land to create.

“Builders will continue steadily to bring starter homes to the marketplace gradually, however the rising cost of labor and building materials shall ensure it is difficult,” Payne and Sermeño say.

While skyrocketing prices have already been a problem with tight inventory, REALTORS® can breathe a little sigh of relief, as growing home prices appear to be slowing down, only if slightly, for the near future.

“Home price growth shall slow a little, to 5 percent from 6.year 5 percent last,” say Payne and Sermeño. “Price appreciation has been strong for some time, and some certain specific areas are seeing demand hurt by affordability problems, for high-end homes especially; however, this season is only going to be modest due to continuing insufficient inventory the slowdown, at the low-to-middle prices especially.”

REALTORS® are watching the marketplace closely, as you factor could change the status of today’s market. Rising interest levels are homebuyers’ biggest concern and adding to this spring’s flurry of home-buying activity.

“The prospective rise in interest levels this year and then is in fact boosting buyer demand to get before rates rise further, in accordance with REALTOR® surveys,” Payne and Sermeño say. “Year next, it would appear that mortgage rates will undoubtedly be stabilizing once, then your higher rates could have a depressive influence on prices and demand somewhat.”

Dominguez_Liz_60x60_4cLiz Dominguez is RISMedia’s associate content editor. Email her your property news ideas at For the most recent real estate news and trends, bookmark

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22 Mar

Infrastructure Improvement Means PROPERTY Activity

When the Trump administration released its $1.month 5 trillion infrastructure plan last, it set in place a multi-year process which could result in considerable investment in communities eventually. Needless to say, Congress must pass legislation to create a lot of it happen. Although there are a few right parts that the administration can perform alone, a complete large amount of the plan will demand both authorizing and funding legislation, just how close we reach that $1.year or two 5 trillion goal is dependent on what lawmakers can agree on in the next.

Regardless, with the national country;s roads, bridges, waterways, dams, along with other public projects aging, some projects will undoubtedly be getting funds in the years ahead set up plan is all or partly enacted. The relevant question for you personally is, how do you want to get involved? Do you want to upfront become involved, when projects come in the look stages, or do you want to become involved after projects progress? Often, bridge replacement means land transactions, because it’s not unusual for an upgraded bridge to be built alongside the prevailing bridge. Which means government may need to acquire or condemn nearby property. Or in case a road widened&mdash is; will that involve condemnation or acquisition of land?

Property values have a tendency to rise after infrastructure improvements are created. In northern Virginia, expansion of the metropolitan subway system had a significant effect on property values across the new tracks. Huge condo, apartment, retail, office, and mixed-use projects followed. It triggered a genuine estate boom.

The administration’s infrastructure plan is featured in the most recent Voice for Real Estate news video from NAR. Access that segment now.

The video also talks about why NAR supports the banking reform bill that passed the Senate a month or more ago, why passing of long-term reform of federal flood insurance is simply as much about improving communities since it is approximately continuation of plans, and just why Congress must make mortgage debt forgiveness relief a permanent area of the tax code. Cyber crime and association health plans are covered, too.

Access video.}

22 Mar
21 Mar

Buyers Confronting ‘Perfect Storm’: Trulia

First-time homebuyers come in for this this spring, having an all but depleted inventory at their price, based on the Q1 2018 Inventory and Price Watch from Trulia. Their challenges, however, tend to be more than scarcity.

“First-time homebuyers face an ideal storm this spring,” says Cheryl Young, senior economist at Trulia. “Affordable, move-in ready starter homes have grown to be harder to get amid rising home mortgage and prices rates. While new-home construction hit a 10-year saturated in 2017, these units haven’t translated into starter-home inventory yet just.”

Entry-level home prices have risen 9.6 percent because the first quarter of 2017, in accordance with Trulia, and inventory in the segment shrunk 14.2 percent in the first quarter of 2018 just. The common buyer would want 2 percent of their income to purchase a starter.

“Builders are concentrating on the more premium or upper-middle home segments— due to returns on investments mostly,” Young says. “Though builder sentiment is fairly high, some headwinds are had by them around a shortage of labor. The focus is wanting to increase their return now, and, unfortunately, it’s not in the bottom of the marketplace.”

In general, inventory has risen 3.3 percent, but has been driven by the premium segment mostly, which added 13.3 percent supply year-over-year. Wearing down the info:

In addition to affordability constraints, the health of entry-level homes is fading. In comparison to entry-level homes in 2012, the common entry-level home is nine years older, and much more have become classified as fixers—an 2 percent share, pitched against a 10.3 percent share in 2012. Moreover, entry-level homes have 2 percent less square feet (right down to 1,187 square feet from 1,211 square feet). Why?

“What’s actually out gets tighter there, and what might have been on the cusp of the starter/trade-up is currently trade-up—everything is needs to spread,” says Young. “What’s filtering down in the starter home market may be the smallest now, oldest, lower-quality homes.”

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DeVita_Suzanne_60x60Suzanne De Vita is RISMedia’s online news editor. Email her your property news ideas at For the most recent real estate news and trends, bookmark

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21 Mar

THE LENGTH OF the Military Market exactly?

The following information is supplied by the Center for REALTOR® Development (CRD).

Current and former military certainly are a huge demographic segment in the U.S.

According to the newest Demographics Report (2015) from Military OneSource, prepared for the U.S. Department of Defense (DoD) across active duty and reserve populations, you can find 2.1 million military personnel. Over half are married, and 41 percent have children. Increase that the two 2.7 million additional family of the individuals, and you’ve got a complete around 5 million people. Of the, 87.5 percent (roughly 4.4 million) have a home in the U.S.

The 10 states with the best populations of active military personnel include (to be able): California, Virginia, Texas, NEW YORK, Georgia, Florida, Washington, Hawaii, SC, and Colorado. Military families move every 2-3 years. Ten moves over a 20-year career aren’t unusual.

Add active duty military to the 21.3 million veterans in the U.S., based on the U.S. Census Bureau, and a complete is got by you of 25.7 million military-related individuals surviving in america. The U.S. population for 2015 was 321 million.

So, at a national level, current and former military comprise 8 percent of everyone. That’s one from every 12 people approximately. In some continuing states, the percentage is even higher—for instance, in Alaska, 14 percent of the populace are veterans.

A quarter of the country’s veterans reside in rural areas. Generally-speaking, they prefer smaller metro areas near military bases over larger cities. Veterans are homeowners at a higher rate compared to the general public, which is borne out by the study done by NAR’s Research & Statistics division in its annual Profile of Home Buyers and Sellers.

According to NAR’s Economist’s Outlook Blog, the percentage of recent homebuyers who have been military or veterans for 2017 was 21 percent. What which means is that the military and veterans are purchasing homes for a price that’s roughly twice that of these proportion within the overall population.

Here are various other interesting related findings that emerged from NAR’s 2017 Profile of Home Buyers and Sellers:

  • On average, active-duty servicemember buyers were 34 yrs . old typically, and veteran buyers were 59 yrs . old.
  • When looking for their home, 90 percent of active-duty servicemembers and 84 percent of veteran homebuyers bought their home by way of a agent or broker.
  • The median price of a home active-duty military bought was $252,000, and $230,000 for veterans.
  • Ninety-six percent were content with their home-buying process.

For more info about active-duty servicemembers and veteran homebuyers even, start to see the Highlights From the 2017 Profile of Home Buyers and Sellers.

To ensure property practitioner success in virtually any geographic area, a knowledge of the military market and a knowledge of how exactly to meet their needs can’t be understated. Learning how exactly to serve the military market starts with understanding their needs, wants, concerns, and studying the procedures and processes they face.

For more education about serving the military market, have a look at this month’s featured online course for 25 % off at the guts for REALTOR® Development, the Military Relocation Professional (MRP) Certification Course, that is the educational requirement of NAR’s Military Relocation Professional (MRP) certification.

For more info, please visit RISMedia’s online learning portal from NAR’s Center for REALTOR® Development (CRD) and the training Library. Here, property professionals can join online professional development courses, industry designations, certifications, CE credits, Code of Ethics programs and much more. NAR’s CRD offers monthly specials and important education updates also. New users shall have to register for a merchant account.

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20 Mar

Take Your Branding up a Notch

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For the most recent real estate news and trends, bookmark

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20 Mar

Build Your Brand when you are an improved Person

In the next interview, Mark Fields, president of CENTURY 21 Mark Fields and Associates in Asheville, N.C., discusses branding, culture, luxury marketing, and much more.

Region Served: Asheville, N.C., and surrounding areas
Years in Real Estate: 40+
Number of Offices: 1
Number of Agents: 10
Favorite Solution to TALK TO Clients: Face-to-face. A whole large amount of communication is nonverbal, when you text, email or speak on the telephone, a lot of nuance could be lost. It’s the expression on someone’s face that may identify what sort of person is feeling best, and it may lead to answers to challenges and overcoming objections also.

What can be your top tip for property newbies?
Affiliate with an organization that represents your values and the culture of learning and give you support will have to get started—one which ensures its people supply the highest possible degree of service to your sellers and buyers. Second, learn the true estate contract. Know all of the legal ‘outs and ins,’ but understand that a lot more than 50 percent to be a great property professional isn’t everything you learn in property school. Third, figure out how to be considered a good communicator, which starts with being truly a good listener.

How can you build yourself as an extravagance brand?
Marketing. A background is had by me in marketing, not through formal education, but through experience. I’ve watched the very best people market themselves, therefore i learn from the very best. On early, I asked myself who was simply doing great luxury marketing. I take inspiration from the “greats.” I built my company reputation by becoming the very best I possibly could be.

Please describe your organization culture.
We have been a grouped family. When I hire, I make certain the person’s heart is in the proper place. They’re not likely to be competing with this family or undercutting the social people we use, and for. We have been for every other here. We support one another. No matter what size we become, we value one another.

What sets your team aside from other brokerages?
When I bring people in, I make certain they’re investing in my company for the proper reason—never to earn money just, although that’s a significant motivator, but to supply the most effective service they are able to. I can’t have mediocrity. I want people who make an effort to function as best they are able to be—to supply the very best service they are able to, regardless of what. As high-end property professionals, a whole lot is manufactured by us of money. If you’re likely to play the overall game, you need to earn it truly. You need to offer equal value for what you’re earning. My goal would be to never reach a closing table without feeling completely sure I earned that money.

How are you currently staying up to date with industry and market shifts?
We’re inside it. We’re living it, so it’s felt by us. Every right time there’ s a little ripple here even, it really is felt by us.

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Eisenberg_Zoe_60x60Zoe Eisenberg is RISMedia’s senior content editor. Email her your property news ideas at For the most recent real estate news and trends, bookmark

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13 Mar
9 Mar