What ‘Inventing Anna’ can teach us about vetting colleagues and clients

Humans are wired for connection, but how do you know whether or not you can trust that new acquaintance? Learn how to put them to the test and ensure that you're building an authentic and vettable professional network.

Hottest markets of 2022 revealed, and pricey suburbs lead the way

New data from Zillow shows that the most popular housing markets of 2022 so far fall right in line with that trend, with the top 10 markets all pricey suburbs just outside a major city.

Homepoint is first wholesale lender with cash offer product

Powered by Accept.inc, Homepoint Cash Compete program is available at launch in six states: California, Colorado, Minnesota, Oregon, Texas and Washington.

The Agency debuts European franchise in the Netherlands

The new office is headquartered in Amsterdam and led by luxury agent and managing partner Karina Nippérus.

Top 5 Tips to Help You Sell Your House Quickly

Last year was quite challenging for the real estate industry. We witnessed the effects of the global pandemic, which forced people to work from home. Now, with the effects of the pandemic dying down, it is the perfect time for real estate to start rising again. If you are thinking of selling your house in the current year, you probably have made the right decision.

The question is whether your house is ready for sale? I know you might be wondering what I am speaking about. Let me ask this question directly: Do you think any repairs are required in your house to make it sale-ready? If yes, do it without wasting any more time. Also, you might be aware that receiving an offer on a property in the UK traditionally takes 10-12 weeks

You might need a further 12 weeks to get done with the sale. But, the good news is with the pandemic effects not so much, you can expect your house to sell quite quickly. In other words, the time between listing and the offer getting accepted has reduced dramatically.

Ensure That Your Property Listing Uses the Latest Technology to Set the Right First Impression in the Minds of the Buyers

Today technology is advancing at a rapid pace. We see the web as the primary source of listing ads for selling properties. To sell your house quickly, you need to tweak it around to make your listing stand out. It will help if you put your property listing so that it appeals to potential buyers. Listings that work on mobile devices are the right way to go ahead.

Ensure that the photos you upload on the site are mobile-friendly and professional. Sharp and crystal clear images on the mobile help make your property stand out to potential buyers. In case they are not intrigued by the photos in the listing, they might not be interested in checking out your property listing.

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Keller Williams to open new Caribbean franchise

The new franchise will operate in Bonaire, an island off the coast of Venezula. The expansion comes at a time when international growth represents a major bright spot for Keller Williams.

Agent’s selfie at packed open house captures NYC rental market chaos

A video posted this month portrays the insanity of renting an apartment in New York right now, with tenants paying so-called "cuck money" and reports of more Airbnbs in the city than rentals.

What Landlord Insurance is and Why it is Critical for Your Business

As a landlord, you know that many risks are associated with owning and renting out property. However, the last thing you need to worry about is whether or not your assets are protected in the event of an accident or liability claim. That’s where landlord insurance comes in. Landlord insurance protects you from any potential losses that may occur due to your rental property business. This article will explain what landlord insurance is and why it is critical for your business.

Landlord insurance on a desk.

What Is Landlord Insurance?

Landlord insurance is a type of insurance that specifically covers landlords and their rental properties. This type of insurance protects you from any financial losses that may occur as a result of someone being injured on your property, damage to your property, or any other type of liability claim. It is important to note that landlord insurance does not cover the tenant’s personal belongings – only the landlord’s property and assets.

What Types of Landlord Insurance Are There?

There are two main types of landlord insurance: property damage and liability:

Property damage

Property damage insurance covers any physical damage to your rental property caused by tenants or other factors beyond your control.

A scenario where property damage coverage would apply: A tenant accidentally starts a fire in their unit that spreads to damage other units in your building. In this case, your property damage insurance would cover the cost of repairs for the units damaged by the fire.

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Solving Tenancy Problems by Installing Electric Sub Meters for Landlords

As a landlord, you have a lot of responsibility resting on your shoulders. There are lots of expenses to control, regulations to adhere to, and residents to care for. The volume of paperwork, the number of appointments to make, the laws you need to be informed of, can really be overwhelming. Fortunately, progress made in software and other systems can really help you manage it all. If you want to gain more control over the utility expenses in your properties, then electric submeters for landlords may be an option worth looking into.

Old submarine gauges

What is a Sub Meter System?

Traditional water metering involves the installation of one “master” meter that tracks water consumption for an entire building. Then when billing residents, water costs were simply part of the rent, or costs were divided depending on the size of the apartment or number of bedrooms. However, if you need to monitor each tenant’s individual electricity consumption within a building, a sub-metering system can be installed to do just that. 

Where Can They Be Used?

These solutions work under the primary gas/electricity meters and can be installed in buildings of multiple occupancies, or offices of multiple lettings. By doing so, landlords can monitor and accurately claim costs for a retail unit, an independent site, or a part of or an entire floor of a commercial building. This system is ideal for properties like commercial buildings, medical centers, shopping centers, condominiums, military housing, and apartment buildings.  You can use sub meters to keep an eye on electric, water, BTU, gas, and data. 

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New home sales hit 2-year low, falling well short of expectations

New home sales took a hit for the fourth-straight month in April as buyers grappled with the new reality of rising home prices and mortgage rates in excess of 5 percent, according to Census Bureau data.

Delta Media’s new product makes a Pitch to the maturing CMA sector

Delta Pitch was developed as part of Delta Media's pending fall 2022 launch of DeltaNET 7, an update of its customer relationship management and business marketing solution.

As NYC Rents Rise, Eric Adams Faces Pressure on Housing Crisis

“We’ve got to get it right,” the mayor says, but the City Council and advocates want him to push more and spend more to address the dire shortage of affordable housing.

Amid a Housing Crunch, Homes Pop Up on the Fairway

With large expanses of grass and trees, former golf courses are being reconsidered for housing, but developers face challenges, including community resistance.

How Modern Outdoor Lighting Can Boost Your Home Value

Outdoor lighting is believed to be one of the most vital features of a property. It may comprise of several components like halogen and induction floodlights, bullet spotlights, recessed lamps, and spotlights. Some property owners in the United States even install lights to illuminate their walkways and gardens for various reasons. Others even position light orbs and torches around trees, maximizing the lighting of every outdoor area they have.

Alley illuminated by the garden lamps in the night

Collectively, the lighting features mentioned above can significantly boost a home’s value. Suppose you’re planning to sell your house in the future. In that case, you may need to consider installing outdoor lamps and spotlights to look forward to a higher resell price. Hiring outdoor lighting pros is said to be a sure route for a quick and suitable lighting installation.

If you’re in a state like Oregon, you may consider looking for these outdoor lighting installation experts, like Oregon Outdoor Lighting and others, to address your outdoor lighting needs. Continue reading to learn more about how outdoor lighting can add value to your living space. 

Improves Your Home’s Curb Appeal

Outdoor lighting makes the most of your curb appeal. It provides appropriate illumination that highlights the lawn, fences, pavement, and other architectural features present within your property line. In addition, it could offer a brand-new look to the different parts and angles of the curb. 

To thoroughly boost curb appeal, you may also need to choose the outdoor lighting based on the outdoor setup and theme. If you want to brighten up a vast outdoor space, consider installing ambient halogen lighting. This can include general lighting yet it can come with dimmable functions. This way, you could adjust the brightness of the area with ease. 

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Median rents hit new record high of $1,827 in April

There’s seemingly no end to rising rental rates. According to realtor.com, the median rental price in the U.S. hit a new high of $1,827 in April.

Realtor.com Chief Economist Danielle Hale said data from April illustrates a “perfect storm” of supply and demand dynamics that’s driving the ongoing surge in rental prices. These dynamics include the low number of rental units available, and higher for-sale housing costs that force many would-be buyers to continue renting.

“Renters are being left with few options to meet higher rents and, in some cases, even offer above asking—whether they can afford to or not,” she said.

Household budgets are being maxed out and that will likely continue for the foreseeable future, Hale said. She forecasts the median rent price to hit $2,000 by the end of August.

Studio rents are growing at the fastest year-over-year pace, up 17.2%, followed by a 15.9% increase for two-bedroom units and a 15.6% increase for one-bedroom units. The rise in studios “is largely due to the ongoing rental market comeback in major downtowns where smaller living spaces are common,” realtor.com noted in its report. Studio rents posted double-digit gains in April in ten of the biggest tech hubs, led by New York City, Boston, and Austin, Texas.

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Ask Brian: What Happens When a Home Buyer Backs Out of a Signed Purchase Agreement?

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com.

Home agents are sending pens to customers signing a contract to buy a new home.

Question from Shelly in LA: Hi Brian, We are in bad financial shape and both of us have failing health. The time has come for us to sell our house and move into an assisted living facility. We decided to sell our house as “for sale by owner” to save the agent’s commission. We thought it would be easy because houses have been selling so fast for the past couple of years. After four months, we only had seven people call about the house, and three seemed to look at it seriously. The last one that looked at it made an offer that we accepted. Both the buyer and we signed a generic purchase agreement. That was six weeks ago and now the buyer says he isn’t going to buy the house because he doesn’t have enough money and he doesn’t want to take out a mortgage at an interest rate that is higher than it was when he signed the purchase agreement. What can we do to make him buy the house?

Answer: Hello Shelly. I don’t know what is in your generic purchase agreement. Because it was not written by a professional real estate agent, the contract could have almost anything it. My first thought is that you might be learning why earnest money is an important part of a purchase offer and purchase agreement. But there could be something else involved such as a contingency clause. Because your buyer is saying it is about not taking out a mortgage at today’s interest rate, I’m thinking the earnest money is what you will primarily get from a failed sale of your house. You did get an earnest money deposit, didn’t you?

I’m assuming that once both of you signed the purchase agreement you stopped trying to find another buyer. You probably took down the “For Sale By Owner” sign and stopped running any newspaper or online advertising. It’s normal to stop trying to sell a house while waiting for an appraisal, a home inspection, final mortgage approval, and for the sale to close. The buyer makes an earnest money deposit (usually to an escrow account) to show that he is serious about taking the action needed to complete the purchase. When the sale closes, the earnest money is usually applied towards the purchase price.

It is also normal for the earnest money to have contingencies under which it is refunded. There can be many different contingencies. The seller and buyer sign a contract that defines the conditions of refunding earnest money. Typically, the earnest money is returned to the buyer if the house doesn’t appraise for more than the amount of the mortgage, the inspection reveals a severe defect to the buyer or the mortgage company, or the buyer does not qualify for a mortgage. The last one (buyer does not qualify for a mortgage) is a big reason why most sellers will only accept offers from pre-approved buyers. Another common contingency is when the buyer is unable to sell their current home before closing on the new one.

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You May Be Ready for Summer, but Is Your Home?

Here are a few steps you can take now to make your space more comfortable during the warm weather ahead.

Stop Googling ‘bubble’: Here’s why the news may be more positive than you think

Are we on the verge of another major real estate downturn? Two of America’s most notable real estate economists, Leslie Appleton-Young and John Tuccillo, weigh in with their predictions, and the news may be better than most people expect.

Get ready for what’s next at Inman Connect Las Vegas

You didn’t get into real estate because you like a predictable workday. You love the energy, the excitement, the fast pace, and the forward momentum of this industry. In a complex and rapidly evolving market, Inman Connect Las Vegas is your resource to never miss a beat.

3 digital training courses leaders should take 

Moving from the role of independent agent to that of a team leader requires a different skill set. Taking the time to take a course on leadership can provide the background needed to lead your team in the best way possible.

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