Marketing / Sales

Real Estate Agents Battle for Customers

A move is on to focus real estate brokers on data collection and control of information on their clients.  Brokerage firms are figuring out the fact that they are out of the loop when it comes to collecting and using information.  How much information do brokers need and when do they collect it?

Brokers can get important information from potential buyers, actual buyers, renters and sellers.  The information collected on clients can be basic or it can be comprehensive.  While a great deal of data collection happens on the Internet and other places no disclosure takes place.  It's important that whatever information is collected by brokerage firms / agents on clients / customers be disclosed when it is collected.

How Important are Title Companies?

Having a great title company makes a huge difference in how (and when) your real estate transactions are accommodated.  If the title agent is good you will have fewer crises and so often disrupt or destroy your transactions, it can mean the difference between being paid and being disappointed.  In my opinion a good title agent is worth his or her weight in gold.

Who is Buying and Selling Real Property?

It's no secret that there are more and more Wall Street investors who have entered local real estate markets like ours in Las Vegas.  They are not only buying up huge blocks of residential homes, they are alos solidly in the commercial real estate (CRE) market.  It used to be that small investors were an importan block of buyers in both market segments, but things are changing.  Why?

Convert your Office to a Retail Use

If you are a commercial real proeprty owner in Las Vegas, Nevada and you follow the vacancy rates by property type you are probably already aware that the weakest commercial real property type or segment is offices, and in early 2014 we are still seeing a vacancy rate near 23 percent for them.  For some there exists an opportunity to take advantage of the stronger retail market with vacancy rates closer to 11 percent.  Making a full or partial transition depends on a number of factors.

Are Commercial Short Sales and REO’s Disappearing?

While some reports indicate that the CRE mortgage default rate has continued to rise in 2013 it is my perception is that distressed sales (short sales and REO’s) as a percentage of total commercial real estate (CRE) sales are down.  That doesn’t mean that the CRE market is strong and it’s definitely not a sign that its “booming.”  What it does mean is that if you are searching to buy a commercial property there are relatively fewer distressed deals around as a percentage of all available deals.

Land Market Timing

Land markets, like most real property markets, react to what is effectively a “mob mentality.”  Everyone hears about big gains, they rush into the market until the “next greater fool” theory has exhausted the buyers, the market turns and then immediately many of the new owners want out.  That’s when the rush to dump land holdings begins and the roller-coaster is on the way down.

How Important is a Property "For Sale" Sign?

Agents know that there are only a limited number of things that they can do to get a listed commercial property sold.  Of course, being able to personally contact parties who they know are interested in a certain kind of property is the most effective marketing method, it can produce immediate results, but often agents find that their list of personally know buyers is limited and when they reach the end of it they have to become more creative. 

2013 Las Vegas Apartment Market

The fact that almost all of the top 20 most viewed Las Vegas properties listed on Loopnet have been multi-family residential properties is compelling evidence that the multi-residential market segment is what buyers of Las Vegas real property are paying attention to.  Its a good sign, it means that buyers are anticipating a positive movement.  

What Makes a Good Commercial Real Estate Marketing Brochure?

If you want to evaluate how your listed property is being marketed you may want to take a look at the brochure that has been prepared.  If the agent says that there is no marketing brochure, I guess that would concern me as an owner.  You may want to ask, how are information requests being dealt with?  How do potential buyers and cooperating agents get the information you want conveyed to them?  Most firms do put together some type of brochure or flyer is there a difference?

Las Vegas High Rise Condominiums

There are many Las Vegas high rise condominium buildings that are influenced to some extent by the percentage of developer ownership.  Developers are generally looking to increase the value of their inventory, and that means selling condo units for as much as the market will support.  There's nothing wrong with that, unless you are a buyer looking for a bargain.