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.
Almost everyone, including Democrats, were expecting last Tuesday’s midterm election results to heavily favor Republicans. Many predicted a “red wave” where they would pick up 50-60 seats in the House and 3-4 in the Senate. Joe Rogan said the red wave that is coming will be like the elevator doors opening in the horror film The Shining.
When we invited Gary Vaynerchuk to NAHREP at L’ATTITUDE in 2021, I was mostly relying on input from others. Several members loved his content, but the little I saw online left me underwhelmed. However, I thoroughly enjoyed his presentation at our event, particularly his comments about toxic employees, which he says to dump with impunity.
Selling during a downturn required a more strategic approach, but the opportunities for growth and expansion are available to the savviest of companies. Here are some of the best ideas I’ve read about.
A farmer and his son had a beloved stallion who helped the family earn a living. One day, the horse ran away and their neighbors said “Your horse ran away, what terrible luck!”. The farmer replied, “Maybe so, maybe not. We’ll see.” A few days later the horse returned home, leading a few wild mares back to the farm as well. The neighbors shouted out “Your horse has returned and brought several horses home with him. What great luck!” and the farmer replied, “Maybe so, maybe not. We’ll see.”