PRESIDENT’S CORNER

INMAN CONNECT NYC 2020

INMAN CONNECT NYC 2020 I had the opportunity in January to attend Inman Connect in New York, an amazing event where top professionals shared ideas and collaborated. This event included over 250 speakers who shared groundbreaking content and visions of the real estate future from their perspective. The event was inspiring and content rich with takeaways that I wanted to share with you! Inspiring Takeaways

ON-DEMAND ECONOMY: We all realize today the demands and expectations of buyers have changed, where we once held in our toolkit for consumers the needed data of home valuation and the resource for home searching is not the case today with the technology evolution. However, there is no algorithm that can replace the value of a true real estate professional. The real estate professional today must realize the consumer expects more in terms of flexibility, knowledge of the market beyond an elevator speech and the resource for managing their real estate needs on a timely basis.

iBUYERS 2020: It was quoted by Ownerly spokesperson, Richard Gargan, that Tampa will be one of the explosive markets in 2020 for ibuyer companies! As local Tampa REALTORS® we have seen the presence of these companies in our market and we can expect to see more. The 2019 stats for ibuyer company transactions across the U.S. doubled from .25% to .5% for all transactions in the U.S. One note was the hot spots that did have 3-6% in transactions. The overall growth for the U.S. was contributed to the opening of new markets, not depth in markets.

MARKETING: Video was a big topic this year. The takeaway was to utilize this as a tool, consumers love it and appreciate the raw information. The videos that are most appreciated are the informative videos, i.e., market information, area information and home improvement ideas, not necessarily direct selling. Video plus social media equals results!

Another session was brand marketing. Top agents (20 deals or more a year) shared that consistency was key, 72% of the top performers chose to stick with one marketing strategy for at least 18 months, content being 60% branding and 40% lead generating. They also spoke of the video marketing as a great resource. an app is no longer useful, it gets discarded - stay current and useful!

1. Home financing alternatives - Always have the traditional resources available for your clients. In addition, you want to understand other platforms/ options on the market. Alternative financing options today are designed to help the consumer transition from one home to another, like trading cars. These companies offer bridge loans that allow the buyer to make more competitive offers as they eliminate the contingency to sell a home. There is also a source for concierge services. This covers the cost of improvement services (with no upfront costs), allowing homeowners to make their home market ready for the best results. One company noted at this session was Compass.com.

2. Creative down payment – This allows a home buyer without a down payment to get into a home. Agents partner with a rent to own company that allows those without a down payment to find a home. Home values since the 90’s have increased 120% while income has only increased 10%, so it can be hard for qualified buyers to sometimes come up with a down payment. Explore Divvyhomes.com for information on this option.

3. ibuyer – The “I” stands for Instant. There are homeowners who need this option or want the convenience of instant selling. Understand this model and have the resource available to offer your client at the listing presentation. It was mentioned by Houston Association of REALTORS® that 80% of sellers will look at this option when evaluating to sell, 93% will end up listing with an agent. If you are knowledgeable and control the data, you are the value proposition for your client. As a REALTOR® it is our obligation to be informed as professionals to offer all opportunities to the consumers; they look to us for guidance and knowledge.

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DARLENE DAVENPORT 2020 President

Greater Tampa REALTORS® strives to be the valued voice of real estate by continuing to elevate and enhance our professional and ethical business practices.

VALUES

Greater Tampa REALTORS® is driven by the needs of its members, led by dedicated volunteers and managed by professional sta. We are committed to providing exceptional service and valuable benefits for our members and communities.

MISSION

Greater Tampa REALTORS® - your premier real estate resource. Volume 4 | Issue 2 tamparealtors.org/magazine 813.879.7010 TAMPA REALTOR ®

2020 OFFICERS President: Darlene Davenport President-Elect: Ellie Lambert Vice President: Ruth Bryson Treasurer: Tom Scaglione Secretary: Jay Quigley Immediate Past President: Dan Hazy CEO: Dennis MacDonald

2020 DIRECTORS Jacqueline Brown, Ashley Christie, Stacy Dillard, Adam Grenville, Connie Johnson, Barbara Jordan, Sherman Milton III, Annette Newkirk, Deanne Pelfrey, Kathleen Razzano, John Tomlin, Melissa Gallway and Katherine Sakkis

EDITOR/DESIGNER Kimberly Chin, Communications/PR Manager

ASSISTANT EDITOR Tamiracle Williams, Communications Specialist

ASSISTANT DESIGNER AJ Hlavac, Graphics & Video Specialist

A ME SSAGE FROM THE WOMEN’S COUNCIL OF REALTORS ®

AS A SAFETY PRECAUTION AGAINST COVID-19, WE HAVE CANCELED OUR MARCH AND APRIL MEETINGS AND EVENTS. SENDING OUR BEST WISHES TO YOU AND YOUR FAMILY AS WE GO THROUGH THIS DIFFICULT TIME.

PLE ASE SAVE THE DATE FOR THE MATT JONES/VICTORY LUNCHEON THURSDAY, MAY 21, 2019 | 11:30 A.M. AT THE GODRFREY EVERY ATTENDEE GETS A BOOK!

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The Greater Tampa REALTORS®, Inc. (GTR) is the largest Tampa Bay-based professional association of real estate brokers and sales associates conducting business throughout the Bay. GTR provides educational programs, ethical guidance and other services that enable licensed real estate professionals to help people buy and sell homes in the Greater Tampa area. For more information, please visit tamparealtors.org.

REPRODUCTION Tampa REALTOR® magazine is published bi-monthly for members of GTR in the interest of informing, promoting, and improving the real estate industry. With the exception of articles and materials from other publications reprinted in this magazine, members and affiliate members of GTR are hereby authorized to reproduce articles appearing in this publication, provided each such reproduction gives the following credit:

Reprinted from the Tampa REALTOR® magazine, Greater Tampa REALTORS®.

4. The modern way to buy – Trade in services for homes. This is another option for the buyer owning a home to become a cash buyer on their next home providing a seamless transaction. Explore more about this option at Orchard.com

5. Liquidity (Financial flexibility) – This is an alternative to a HELOC loan for homeowners. It also offers a program where they will share equity in buying a property. If a buyer only has 5% down payment, this company will consider sharing in the down payment of the additional 15% to allow the homebuyer to meet a 20% down payment on a home purchase, which eliminates mortgage insurance and provides a lower monthly payment. The company will share equity for up to 30 years on the mortgage when the homeowner sells the property as well as receives their investment and profit. Explore this option at Unisom.com

Inman Select news is a free benefit offered to all GTR members. Visit Inman.com/GTR to access your account. Another app that is worth mentioning, safeshowings.com, is designed for REALTOR® safety.

*Please note the companies listed above are for exploration on your behalf and came from a presentation at the Inman Connect conference. These companies are not associated with Greater Tampa REALTORS®. There was a wonderful motivational speaker, Kirstie Ennis, who is in our REALTOR® family. She is A former Marine sergeant who suffered a life-altering injury in Afghanistan in 2015 and has accomplished more at 28 years old than most people do in a lifetime. When faced with adversity and a dramatic change in life, she found a new purpose and not only survived but is thriving today. I encourage you to read her story at kirstieennisfoundation.com, it will put some perspective on the change in our profession. We are survivors and leaders!

The real estate industry is changing from companies backing consumers in new ways to integrated services that handles the entire process. If we educate ourselves and embrace the efficiencies, we will continue to be the source for consumers and their trusted advocate in real estate. I encourage all of you to engage in the professionally taught education we offer at the Association in addition to the national opportunities. Knowledge is powerful!

The Real Estate For All Alliance (REFAA) is a diversity partnership between Greater Tampa REALTORS® (GTR) and the five real estate specialty groups in the Tampa Bay area. The Asian Real Estate Association of America (AREAA), National Association of Gay and Lesbian Real Estate Professionals (NAGLREP), National Association of Hispanic Real Estate Professionals (NAHREP), National Association of Real Estate Brokers (NAREB) and Women's Council of REALTORS® (WCR). GTR formed REFAA to celebrate diversity and equal representation for homeowners from all backgrounds. Together, the Alliance represents strength in diversity, unity and real estate professionalism.

Stay tuned for upcoming events and how you can get invovlved with the Real Estate For All Alliance and any of the five real estate specialty groups. Visit tamparealtors.org/resources/refaa for more infomation.