In a recent memo to chapter leadership, NAHREP gave the green light to begin planning live events, subject to state and local health protocols. NAHREP will also host its first regional event in Miami on July 13th. The event will take place at the JW Marriott in Brickell and will take on one of the biggest issues facing the industry: housing supply. This week, my wife and I started looking at investment properties in Colorado Springs, CO. Our son will be entering his senior year at Colorado College and we thought we should look into purchasing a single-family home that he and a couple of his classmates could live in; we could rent it out after he graduates next May. We spoke to a couple of local real estate agents and found out first-hand what everyone has been talking about. This is insane…On Friday, a property that looked ideal was listed. The listing agent immediately began scheduling appointments with buyers and selling agents. We were told that all prospective buyers must submit their offer no later than noon on Sunday. Our Realtor® told us that to have a chance, we would have to offer a minimum of 10%-20% over the listing price with little or no contingencies and they were expecting roughly 75 offers. WTH??? This isn’t a hot market; this is a crisis!
I am really looking forward to getting back to live events, and digging into the most challenging issue confronting the real estate industry in over a decade.
Most of us have heard that it's not about what happens to you or around you; it's how you react to it. That discipline may be the single most important quality a person can possess when it comes to success. Talent is overrated, and luck is out of our control. Grit, on the other hand, is a superpower.
This week's big news in real estate was the settlement of the class action lawsuits directed against the National Association of Realtors (NAR)...Despite what you may have heard from the media, if the settlement is approved, this would be a modest victory for both realtors and homebuyers. The lawsuit's deeply misguided proponents, including Steve Brobeck from the Consumer Federation of America, have been calling for an outright ban on broker cooperation. In that regard, they didn't get what they wanted.
For years, large companies have been outsourcing to India and China, but the politics with China is unpredictable at best, and India has its limitations as well...However, Mexico and Latin America are just on the other side of our southern border, in the same time zone as the U.S., and with a talented and plentiful population of eager workers. There are also a number of companies that make the process of hiring a nearshore team practically turn-key.