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New Report Shows Keys To Maximizing Real Estate Earning Potential 

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McKissock Learning has revealed a new guide of income statistics from licensed real estate professionals across the United States as a means of keeping track of trends, and highlighting the methods that are maximizing agents’ earning potential.

McKissock Learning is one of America’s top online real estate schools, and provides educational courses and professional development to hundreds of thousands of agents across the country every year. 

In November 2021, the company reached out to thousands of licensed real estate agents and brokers to gain a better understanding of the specific strategies used to increase their earning potential. 

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Last year, the number of agents that participated was about half of the 9,000 participants in this year’s report. This way, the guide can show a much more accurate picture of what real estate agents are earning and how they’re making it possible. 

Real estate income is actually on the rise, despite the many complications the industry has faced throughout the Covid-19 pandemic. 75% of real estate agents reported that they earned more in 2020 than they did in 2019, with an average income of $129,996 for full-time agents. 

Another trend that’s helping the market continue to thrive is the fact that more agents are happy with the brokerage they’re a part of. Choosing the right brokerage is an essential part of being a successful agent. 

84% of the agents surveyed stated that they were satisfied with their brokerage experience. Only 6% of participants said that they plan on switching brokerages within the next couple of years. 

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Specializing in a niche has also proven to be one of the keys to maximizing your earning potential. Last year’s report showed the same results, citing that agents who showed eco-friendly properties were able to gain an average income of $263,180. 

92% of the participants reported that they feel very optimistic about their future in real estate, which is the highest percentage in the history of McKissock Learning’s reports. 

Only 12% of agents said they planned on retiring within the next five years. Real estate allows agents to create their own schedules, to an extent, so it’s easier for certain agents to reduce the number of hours they work per week to best fit their lifestyle and income goals. 

The report stated that obviously a reduction in hours could result in a reduction of income for agents, however, individuals can still earn a decent income as a part-time or semi-retired agent.

Black Lives Matter Poster

Real Estate Executives Are Showing Their Support For The Black Lives Matter Protests

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Real estate executives all across the country are speaking out publicly and using their businesses platform to show their support for the Black Lives Matter Movement. Following George Floyd’s murder last week, the country has entered into a state of civil unrest, and a wave of support from a multitude of businesses and industries have begun entering into the conversation. Regular citizens have been calling on celebrities and prominent public figures to use their massive following to spread awareness and help raise money for various causes benefiting black people, and real estate agents are answering the call as well. 

The Miami Agent Magazine recently interviewed some of the more prominent real estate industry leaders in Florida about their thoughts on the current state of our nation and the two pandemics were currently fighting; Covid-19 and racism.

“Racism is wrong and Keller Williams stands with the Black community and wholeheartedly supports equality. Right now, communities across America are experiencing tremendous pain. This pain builds and grows exponentially with each name: George Floyd. Ahmaud Arbery. Breonna Taylor. Eric Garner. Sandra Bland. Michael Brown, and too many more. Each person had a story, a family, a home, and a life that mattered that was taken away from them. This company stands behind Black employees and clients, your lives matter. You are in our hearts and in our prayers,” said Keller Williams CEO Gary Keller in a letter to employees.

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Keller also explained in the letter that his company would be creating a task force made up of members from the agencies International Associate leadership Council to provide extensive information and recommendations on how the industry, and Keller’s company specifically, can ensure they’re creating a space of love and equal opportunity for all. 

For this task force Keller said he would be asking for nominations from each district to join in the effort. “I believe we can also set an example within the industry by committing more of ourselves to a better, and equitable future.” 

“Redfin [another FL agency], like most other companies, is run mostly by white people.That needs to change. What’s behind the protests’ rage and despair is the sense that talk is cheap, and change is painfully slow. We love to denounce someone else’s racism, but it would matter more if businesses looked at our own contribution to a divided America and decided what to do about it,” Redfin CEO Glenn Kelman said in a statement to his employees as well. 

Kelman later emphasized in the statement that all industry leaders in America right now have a moral obligation to create a safe space for their employees and open up a conversation about creating more room for black voices. He then encouraged all of his white employees to take a long look in the mirror and acknowledge their own racial biases. This month, Kelman also claims that Redfin will be publishing their annual employee diversity report, and it will include a new set of initiatives to further diversify the industry. 

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“Racism has no home here. This week I was invited to listen to our black employees share their pain and fear and confusion. For themselves. For their children. Every time they leave their homes. Enough. I am an ally. Racism has no home here,” Zillow CEO Rich Barton tweeted. 

Compass CEO Robert Reffkin also issued a statement via Twitter: “Like so many Americans, I am absolutely heartbroken right now. I am heartbroken for George Floyd’s family. I am heartbroken for Ahmaud Arbery’s family. I am heartbroken for Breonna Taylor’s family. I am heartbroken that one tragedy that targets Black and brown Americans is following so closely on the heels of another tragedy that disproportionately hurts Black and brown Americans.”

The energy behind all of these CEO’s statements are exactly what America needs right now. Individuals with power, privilege, and the ability to make a true change in the field they work in coming forward and calling out the racism that has plagued this country since its creation. It’s important to feel safe in your workplace, and if you have a discrepancy over something that feels racially charged, you should feel even more comfortable discussing it with your boss, as that’s what all these protests are really about at their core; justice for those who have lost their lives to a corrupt system, and correction for a brighter future for black individuals in this country.

If you want to know more about the Black Lives Matter movement and how you can directly help from home, click here for access to dozens of petitions, donation pages, and fundraising efforts specifically for those fighting for racial equality right now.

Sold Label

How To Sell Your Home Fast

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The housing market is forever changing. It’s always hard to tell when the best time to sell or buy is and vice versa. However, when you find yourself in a situation where, regardless of the market status, you’re looking to sell your home and sell it fast, there’s a few key tips you should keep in mind. 

First and foremost, unless you’re an expert on all things real estate yourself, make sure you get a reputable and hard working agent to assist you on your housing journey. There are many things that you should specifically be looking for in a trustworthy agent, however, that’s a different article for a different time, now we’re trying to sell!

Assuming you and your agent are already teamed up and ready to get your house into the hands of its next occupant, here are some things to consider. According to Zillow, home properties spend, on average, 68 days on the market before it sells, so how can you cut that number way down?

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Understand that the mantra “location, location, location” is so commonly known for a reason. If your home is already in a desirable neighborhood near the water, you obviously will have no trouble selling. However, if you find yourself not in the most desirable location, figure out what adjustments you then need to make to your home either aesthetically or price wise to get more buyers interested. 

No one wants to change the price of their property once it’s on the market, however, you can’t change the location of your home, and if that’s what’s holding it back from selling, there’s not many options to get individuals interested. Again, this is where having a trustworthy and professional agent by your side will benefit you. They can tell you if your specific market is more hot or cold in the moment you’re selling and how to adjust either your pricing or listing itself to grab the attention of more buyers.

After a while, consider removing any online listings of your property from the internet and re posting them through the Multiple Listing Service. However, your best bet will always likely be a dramatic price drop. Think about the neighborhood you are in and what the surrounding properties would sell for. If your property is the lowest, price wise, for the specific area it’s in, it’s likely to get more offers and interest.  

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While there’s been a major emphasis on finding a solid agent to assist you, maybe consider using a wholesaler instead. 40% of all real estate transactions that occur in America are done in all cash transactions. All cash means no banks and less complicated paperwork and real estate  jargon to work through, this is especially important for the desperate seller. 

Wholesalers act more as a middleman for property improvement when compared to a traditional real estate agent. They may not offer you top-dollar, however, if you aren’t looking to dramatically drop your price, this would be the next best choice. A wholesaler will then put your house under contract, flip it for cheap, and then offer it back up to a slew of cash-buyers that they themselves have already scouted based on what the property itself has to offer each client. 

Finding a wholesaler can be quite tricky, as they often find clients themselves who are desperate to sell. However, there are a few online services that can connect you to the right people for the job; such as We Buy Ugly Houses.  

Finding the right people in the business to assist you in selling your home fast is the best way to ensure you’ll get the best bang for your buck, no matter how much you have to drop the price.

Couple Moving In Home

What Home Buyers Looking To Downsize Should Keep In Mind

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There’s a multitude of reasons why one would want to downsize their home. Maybe you’re a senior citizen who’s ready for retiring into the simple life, or maybe you’re adopting a more minimalist and less cluttered lifestyle, or maybe the reasons are purely financial. Regardless of reason, when it comes to downsizing your home, you’re also downsizing your life, which tends to sound like a bad thing when it’s really the opposite. 

Moving on and into a smaller space forces you to minimize both your possessions and your desire to acquire more useless junk, because you simply don’t have the space for it. So before you make the big, or should I say downsized, move there’s a few preliminary steps you should go through to ensure your entering into this new chapter the most organized and clear-headed as possible.

First, take a look around your current space and take inventory of all the spaces and things in the house that are purely there just to take up room and fill an otherwise empty area of your home. This way, when packing you can get rid of a majority of the things that just sit around your home, never admired by you or anyone else, and also make a list of things that you won’t be looking for in your next space.

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For example, if you mark down that you have a guest room/office space that never gets used, as well as a couple of book shelves that you’ve just been using as a replacement for storage of even more useless things, then you know you don’t need any of that in your next place. This will make the search process much easier. 

“When downsizing, it’s important to get rid of big items you aren’t planning on using before you move. If you wait, you may waste hundreds of dollars paying to move these items and storing them, especially if you don’t have space in your new home,” said Fred McGill, a Forbes Real Estate Council Member.

Once you begin the process of actually looking for your next property, make sure you always are being open and clear with your real estate agent about the specifics of what you’re looking for. It seems like that should go without saying, however, different people have different definitions of what it means to downsize. 

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Share the inventory list you made with your agent so that you’re not only telling them what you’re looking for, but the aspects of your current living situation that you’d like to avoid. Downsizing doesn’t necessarily mean that you’re adopting a totally minimalist style of living now, however, it does literally mean your moving into a place that’s smaller and simpler than wherever you currently are. Explain to your agent why it is you want to simplify your home life, by giving them that insight they’ll know more of what you personally are trying to gain, and lose. 

When looking at new places, keep monthly costs in mind. When looking at a space that’s smaller than your current home, it most likely is going to be much cheaper at face value. However, just because a property’s initial cost is less than what you previously paid, that doesn’t mean that the monthly costs won’t even out. This is especially important if you’re looking to downsize for financial reasons.

Obviously you will be discussing all of the financial specifics with your agent, however, it’s also important to take note of areas in your new potential home that look like they might turn into a project in the future. If you’re looking to downsize, you’re looking to simplify, so buying a home with an extensive list of projects that will need to get done, isn’t simplifying anything, it’s just adding more expenses to the matter. 

Finally, make sure you’re still thinking of the future. Will you still want a one-bedroom, single-level home in 10 years? If not, do you think you’ll have the financial means to change your situation if it comes to that? Planning for the future is always daunting, but when it comes to the place you’ll be calling home, it’s important. So as you begin to simplify, downsize, and de-clutter, take a moment to look at your current situation and map out what you want the next five years to look like in terms of property and life goals. Those ideas will give you all the confidence you need to make your move.

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How To Make The Best Out Of Your Online Real Estate Presence

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The real estate industry is always changing with the times. One of the biggest adjustments the industry has had to accommodate to is the implementation of technology and social media into marketing plans. With millennials now being at the age where buying a home is their next step, having an online presence is crucial for the success of any real estate firm. 

If a real estate firm is greatly established within a community, then their success seems inevitable. However, with a whole new generation of buyers now sweeping in and buying property, there needs to be a way that they feel like they can trust the firm they’re working with. 

It should go without saying that your real estate business should have an online presence. No matter how large or small your firm is, everyone goes online when it comes to finding the right business for them to work with, so make your presence stand out. Don’t just post listings online as a means to an end. The effort that you put into these digital listings could make or break how much buyer interest you curate. You want to show off the property to the best of your ability. Say your new client is from out of town and can’t coordinate a time to come see the property. If your online listing is detailed, thorough, and full of flattering photos of the property, they’re more likely to stay interested and make the time. 

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One of the most unflattering things that can turn a potential buyer off of a property is a Craigslist-looking listing that simply has a few pictures of the front of the property and bullet points with how many rooms the house has. Effort pays off, so look at the home from their perspective and provide the details that you find so attractive about the listing. For example, say the home is in walking distance to an amazing bakery with the best coffee for the morning; buyers want to know that! Those quaint little details in a listing can surprisingly strike a lot more interest as opposed to a listing that simply states “two bedroom apartment with one and a half bath.”

In addition to detailed and thorough online postings, avoid excessive real estate industry lingo that the average person may not know. Many buyers, including first time millennial buyers, aren’t aware of the full scope that is investing into a property. When it comes to your online presence, don’t fill the spaces with complicated words and phrasing that aren’t common in everyday conversation. Instead, fill it with all the positives about the property. 

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When it comes time to discuss all of the important terms and conditions regarding the property, do it in person and explain in depth what everything means. Having those conversations face-to-face makes the concepts so much easier to grasp as opposed to trying to figure it out on your own from a computer. In addition, a potential buyer is more likely to click off of your page if they can’t even understand it. 

In the same regard, discussing mortgages and real estate as an industry in general should be kept at a minimum. Obviously, you are selling a piece of property at the end of the day, so things like mortgage, monthly payments, utilities, etc. are an important and necessary conversation to have with your clients. However, there’s no need to have those conversations until you know how deeply invested a buyer is in a property.

Finally, a major trend in online real estate is video advertisements for your firm. These videos act as commercials for your place of business, so if you’re going to make one, make it short, simple, and casual. Tell your audience of potential clients why working with you is personal and comfortable. You can make a script, but don’t make it seem like you’re reading off of a teleprompter the whole time. That will make viewers think you’re just another real estate cog in the machine. You want to stand out beyond all of those other agencies who don’t put in the effort with how they represent themselves online. 

Your online presence gives your buyers a real insight into where your values are as a real estate agent. The more genuine you are, the more people will gravitate towards your business, and tell their friends about it too. Just be honest, and tell them why you love working in your industry so much, when people see passion, they want to feel like that too.

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Newsday Finds Widespread Racial Discrimination Among Long Island Realtors

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A major three-year investigation by Newsday has revealed a widespread, systemic practice of racial discrimination against Hispanic, Asian, and Black Long Island homebuyers. Newsday characterized the investigation, which involved 240 hours of secret recordings, 25 trained undercover testers, and tests of 93 real estate agents, as one of the most extensive investigations they’ve ever conducted. According to the report, black buyers face disadvantages roughly half the time they enlist brokers, and other minorities also faced disadvantages but a lower rates. In order to ensure widespread access to the information, Newsday opted to remove their website’s paywall for this article, which the newspaper described as “essential and groundbreaking.”

According to the detailed and lengthy report, “house hunting in one of the nation’s most segregated suburbs poses substantial risks of discrimination.” For this project, the newspaper used a paired-testing approach in which they sent undercover testers with hidden cameras to 93 agents on Long Island to determine whether their experiences differed on the basis of race, with testers of different races claiming similar financial situations and housing requests. On Long Island, which is home to 2.8 million people, divisions exist along lines of race, class, and politics, and Newsday’s investigation highlights how a discriminatory real estate industry perpetuates this separation, disadvantaging people of color.

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The investigation featured tests conducted on all parts of Long Island, in both Nassau and Suffolk Counties, and found that Black homebuyers received different treatment 49% of the time, Hispanic homebuyers 39% of the time, and Asian homebuyers 19% of the time. Additionally, the report claims that real-estate brokerages steered white prospective homebuyers towards majority-white neighborhoods and encouraged minorities to seek housing in neighborhoods with high minority populations. One real estate agent, for instance, told a black customer that Brentwood has “the nicest people,” but the same agent advised a white customer to “do some research on the gang-related events in that area for safety.”

While the results of the investigation are not comprehensive enough to prove legal wrongdoing, they form a body of evidence that provides a general understanding of the extent of racial discrimination in Long Island housing, opening the door to potential future legal action against the offending parties. 

The investigators also found that real estate agents engage in other forms of discrimination. For example, agents commonly refused to provide home tours or house listings to minority testers unless they met financial requirements that weren’t imposed on white testers. Real estate agents had a tendency to choose places like Merrick, which has an 80% white population, for white customers. Additionally, the real estate agents demonstrated a pattern of sharing information about racial, ethnic, or religious demographics of different communities with white customers but not with minority customers. In these cases, the agents in question violated fair housing standards, which prohibit agents from discussing the racial makeup of communities when selling houses if doing so is meant to “steer” prospective homebuyers towards communities with similar racial characteristics. One agent, for instance, warned a white tester about Huntington, saying “You don’t want to go there. It’s a mixed neighborhood.”

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The investigation was comprehensive, covering areas where 83 percent of Long Island’s population live, from poor areas to wealthy ones like the Hamptons. Although real estate agents and brokers are bound by law to follow fair housing practices, many of the individuals who were subjects in the investigation clearly failed to do so in Newsday’s account. The newspaper also sent reporters to classes where fair housing standards were taught to real estate professionals, and described these classes as “shockingly thin in content.” Upon learning about being treated differently on the basis of race, one tester described the news as “pretty outrageous and, of course, offensive.” Overall, the investigation focused on twelve of the most popular real estate brands on the island, and find that only two of the firms showed no evidence of disparity in treatment along racial lines. Before publishing the report, Newsday informed the firms in question that they had been subjects of an investigation and shared their results, offering them a chance to review the evidence, respond, and take appropriate action. While the results of the investigation are not comprehensive enough to prove legal wrongdoing, they form a body of evidence that provides a general understanding of the extent of racial discrimination in Long Island housing, opening the door to potential future legal action against the offending parties. 

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Why More Millennials Are Wanting To Be Real Estate Agents

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Millennials are the generation that seem to always be looking for work, and the field more times than not that they’re choosing, is real estate. The career, when one is successful in it, offers flexible hours, high commission earnings, and is not that complicated to get certified and trained in…

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