INDIANA
JANUARY / FEBRUARY 2019
Real Estate News Uniting and Growing Real Estate Professionals in Indiana
Future of Broad Ripple High School Still Uncertain Proposed Outcomes , pg 6
Facebook Boosting for Real Estate Tips and Tricks, pg 16
Development on the Rise How it Happened, pg 23
INDIANA Real Estate News Editor in Chief Aaron Henze
Editors Aaron Henze Chris Zazzetti
Writers Aaron Henze Jenn Ziegler Chris Zazzetti
Photographers Chris Zazzetti Dustin Jenkins
Contact aaron@indiana-realestate-news.com
News Tips aaron@indiana-realestate-news.com
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LETTER from the EDITOR Hello Readers! Happy New Year, and welcome to our first issue of Indiana Real Estate News Magazine 2019! IREN is a multimedia organization dedicated to educating, uniting, and growing real estate professionals in all branches of the industry across the state by use of educational videos, informative articles, and networking opportunities that give back to the communities these professionals serve. We had a very fun and exciting first year in publication, and we’re looking forward to bringing you even more great content in year number two. We’ve been growing over the past year, and I’m happy to share a few announcements with you, our readers. First off, we’ve moved into a new office in Fountain Square! We look forward to sharing a space with our partners at Famous Marketing Company, and we are grateful to continue to work so closely (now literally) with such a great group! As part of our growth structure, we have added another writer and photographer, and we’ll be looking to add even more members to our team in the coming months! We also still have some room for sponsor partners to help make these additions happen quickly, so let us know if you or anyone you know are interested.
Finally, we unfortunately lost one of our valuable employees to other opportunities, but we wish Tera the best. We know she’s irreplaceable, but we will do our best to make this a seamless transition. In this issue, we explore possible options for a large piece of real estate in the heart of Broad Ripple, provide some advice for expanding your brand, and share a story about the difficulties behind a large development deal on the south side. And in addition to our community calendar, we continue our first-issue-of-the-year tradition of recognizing the agents who outperformed others by sharing our end of year lists. For ongoing coverage, or to contact us, don’t forget about our website (Indiana-realestate-news.com), email (aaron@indianarealestate-news.com), Facebook (Indiana Real Estate News), and Twitter (@Indiana_RE_News). Here’s to another year!
Aaron Henze Editor in Chief
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Table Of
CONTENTS 6
FUTURE OF BROAD RIPPLE HIGH SCHOOL
Broad Ripple High School closed its doors this past year, leaving a lot of questions about plans for the property
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TOP 150 INDEPENDENT LIST
See Realtors who made the list. (Accumulating from January 1, 2018 December 31, 2018).
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FACEBOOK BOOSTING FOR REAL ESTATE
Tips from a marketing expert on how to use social media as a valuable tool for promoting your property.
150 20 TOP NATIONAL LIST See Realtors who made the list. (Accumulating from January 1, 2018 December 31, 2018).
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BIRCHWOOD DEVELOPMENT
Read the story how events unfolded resulting in Franklin Township's newest big land development deal.
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COMMUNITY CALENDAR
See what events are going on in Indiana ~ Featuring events from local groups and organizations. 4
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FUTURE OF
BROAD RIPPLE HIGH SCHOOL STILL UNCERTAIN
F o r t h e f i r s t t i m e s i n c e i t ’s f o u n d i n g i n 1 8 8 6 , t h e h a l l s of Broad Ripple High School were not filled with students this academic year. IPS Board Members voted in fall of 2017 to close its doors along with Arlington and Northwest high schools. A number of factors were considered in the decision of which schools to close including location, attendance (in its final year, Broad R i p p l e ’s a t t e n d a n c e w a s o n l y 2 5 % o f w h a t t h e f a c i l i t y was built to hold) and the ability to resell the property.
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While Arlington and Northwest reopened this year as middle schools, Broad Ripple opened its doors only to administrative staff. Now the district is taking time to make more long-term plans for the property. There is an upside, however: the closing of the school played a large part in alleviating the school system's multimillion-dollar deficit. While the school system wishes to sell the property to the highest bidder (its value has been estimated
as high as $8 million), a large part of the community would like to see the building remain an academic facility. A little-known law, known as House Bill No. 1012, could force the school system to sell the property to a charter school for $1 per year, provided that that charter school use the building for classroom instruction and use the school no later than 2 years after acquiring the building.
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At least two charter schools have expressed interest in the site for more than the $1 that House Bill No. 1012 would require. The offers were reportedly in the $6-$8 million range, an amount obviously closer to the assessed value of the property.
Another bid was made by Indianapolis Classical Schools (which also manages Herron and Riverside high schools), but was turned down. The suspected reason for the declined offer is that IPS was hoping to get more for the property which boasts a central location within the Indianapolis area of roughly 16 acres of land. The potentially most attractive proposal came in November of 2018 from Indy Eleven owner Ersal Ozdemir. Ozdemir proposed a deal for the professional soccer team to develop a stadium for their matches with other assets including apartments, retail space, an office building, a hotel, underground parking, and a school.
“While there was a vocal desire within the Broad Ripple community for Purdue Polytechnic to make use of the recently closed Broad Ripple High School facility, the timing of the recently announced process by Indianapolis Public Schools to consider potential tenants for the building did not match the necessary time frame for Purdue Polytechnic,� school officials said in a written statement.
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While this deal would satisfy both sides of the argument (those advocating for public development of the property and those advocating for it to remain an academic facility), there is no rush to make a decision on what the 16 acres will eventually become because the outcome will undoubtedly have a huge impact on the surrounding community.
While the future of the Broad Ripple High School building is uncertain, a building which has been home to hundreds of thousands of students since its opening in 1886, most notably including late night icon David Letterman, former mayor of Indianapolis Stephen Goldsmith, and lawyer/activist and former Second Lady of the United States, Marilyn Quayle, one thing is abundantly clear:
whoever purchases the former high school, public or private sector, will benefit greatly from its centralized location, tight-knit surrounding community, and history that will be remembered for generations to come.
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TOP 150 Independent Brokerage Standings
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Independent Brokerage Standings January 1, 2018 - December 31, 2018
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TOP 150 Independent Brokerage Standings
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FACEBOOK BOOSTING FOR REAL ESTATE
Photo Courtesy Of Justin Farris & Spectra Student Living
Interacting with people and networking with other professionals through social media is increasingly important. In particular, Facebook is becoming one of the premier social media platforms for businesses.
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Facebook boosting for real estate Interacting with people and networking with other professionals through social media is increasingly important. In particular, Facebook is becoming one of the premier social media platforms for businesses. The famous website isn’t any longer just for people looking to check up on their friends and family. It has many amazing business features, which are turning Facebook into a true force to be reckoned with. From its unique marketplace features to the ability to run custom ads and create pages, anything goes. Small businesses and local entrepreneurs can greatly benefit from Facebook’s ability to network with the community. This also applies to professionals in the real estate industry. Find out more about how to boost your Facebook following and reach as a realtor! Publish stunning photos. As you might know, quality pictures are really important content for any realtor. Great photos of your property listings can help your career in many ways. First and foremost, they actually show your customers how serious you are. By posting highquality photos, you are sending a powerful message on your Facebook page: you’re showing that you care, and go to great lengths to deliver the best possible quality.
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Additionally, great photos are more attractive, and they have the potential to spark the interest of your viewers. Posting photos to your Facebook page is a fantastic way to also integrate your Instagram account to your Facebook feed. This way, you can also cross-promote your Instagram and grow the density of your networks. Furthermore, photos can be tagged, and even geo-tagged, meaning that you can actually use photos to reach the right audience, as well as advertise your business to the relevant local community. As they say, a picture is worth more than a thousand words. The importance of amazing images can’t be stressed enough, especially if you are a realtor. Many budding real estate professionals tend to use stock images. While these might seem nice and unique, they can actually look quite anonymous and as the name suggests, give a “stock” image to your brand. Consider investing in original content, which in the long run will be more valuable. These days, sourcing great original photos is not difficult, and evenPhoto if you contributed by Dustin Jenkins don’t want to hire a photographer, you can join up with many real estate agents who have invested in camera equipment to take stunning shots. This is better for your listing, for your brand, and last, but not least, for the growth of your Facebook page!
Be prompt and effective in your communication. Many realtors underestimate the importance of handling customer service through Facebook. Some of them go as far as ignoring Facebook messages, or referring people to their emails and contact forms instead. While it’s understandable that adding yet another channel of communication can be hard work, interacting with people and answering to their requests through Facebook can really help you boost your page and create a much stronger network. People talk. They recommend services to family and friends, and Facebook is still widely considered one of the best professional avenues for word of mouth. This is a really good way for companies to provide some impressive customer service while improving their Facebook relevance and brand awareness. Realtors should not miss the opportunity to build a true dialogue with the people in their area: their customers! Avoid posting too much content or spamming. Post content that’s generally relevant to your community. Facebook is a community. For this reason, it is necessary to contribute if you really want your page to see growth. You can't expect to just ask people to give you likes. You have to give them a reason to do so. Stay up-to-speed with what’s happening in the local community. Comment on news, activities, and local events, Dazzle your followers and likers with edgy media content that is relevant to them. Ask questions and engage with people who are relevant to your community (and therefore, your market) Consider Facebook Ad Campaigns Facebook ad campaigns are widely considered to be among the most effective marketing tools available to small businesses and independent professionals. They allow you to set your specific budget, and you can tailor the reach of the ad to your specific needs. This is really good news if you are a realtor operating in a smaller community since you don’t need a huge budget to appeal to customers in a smaller area. You can decide exactly how much you want to spend, and which people you want to target, due to Facebook’s powerful analytic filters. From age groups to location and even personal interests, the possibilities are truly endless. 18
Posting content is amazing, but posting too much Photo contributed by Dustin Jenkins content or spamming people can produce the opposite effect. Don’t drive people away by oversaturating your presence on Facebook! Instead of posting randomly or whenever you have content, take the time to create a nice steady structure. The most successful realtors know how to work a social media schedule to their advantage, posting strategic content periodically.
When it comes to using Facebook to market yourself, this article barely scratches the surface. These are only some of the many insightful tips that will help you broaden your content and your reach. The best approach is definitely to come up with strong, creative ideas and ways to actively engage people in your area. Always remember: authentic interactions are the real deal. There are no shortcuts or hidden secrets. If you really do want to boost your Facebook profile, you can’t expect overnight success. It’s really all about steady, consistent, and focused work. You will certainly be able to reap the benefits of your progress over time, with one important added bonus: enhancing your brand as a realtor, whether you are an independent professional or part of a company. Facebook can be a phenomenal tool and a valuable ally. You only need to know how to work it, in order to make the most of it!
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TOP 150 National Brokerage Standings
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National Brokerage Standings January 1, 2018 -Â December 31, 2018
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TOP 150 National Brokerage Standings
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BEHIND THE BIRCHWOOD DEVELOPMENT In a small, tucked away corner of Franklin Township, there’s a big land development happening called Birchwood Park. We reached out to Indianapolis Homes Realty coowner and long-time friend of IREN Matthew Crawford, who was a key player in the deal, to get some perspective on how it all took place. “We already have five offers, do you want to be the sixth?” said a low, grumbling voice. This was the voice of the listing agent of the property, a statement foreshadowing the hurdles Crawford would be facing in the months ahead. Crawford had worked with this agent before and knew he wasn’t exaggerating to influence the sale.The property had belonged to a farmer named Woody Wooden, a man rumored to be in good health and intending to never sell the farm.
Wooden wanted to keep Franklin Township from being a township full of tract homes. Crawford doesn’t know exactly how the property became available, his guess being that the property, in a trust, was forced into a position of being required to be sold. One thing he did know: if he could win the bid, he would have influence on honoring Mr. Wooden’s wishes. Also worth noting: this property was directly behind Crawford’s home. “I quickly wrote up an offer to ensure the opportunity was not squandered.” Crawford had a few investors expressing interest, but he wasn’t certain of their commitment since they had only worked with him on much smaller projects. If successful, this would be his first large development, a risk for any potential investor.
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One by one, Crawford called each investor with the news; one by one the investors decided to not move forward. Heartbroken and exhausted with no contingency plan, Crawford decided to throw in the towel. As he printed out the mutual release to get the earnest money back, his doorbell rang. It was a neighbor he had briefly met previously at a community garage sale. But this neighbor wasn’t asking for a cup of sugar, she wanted to know how she and her husband could get involved with the land purchase.
Before his offer expired, Crawford received a call and email from the listing agent stating his was the highest offer and he was going to need more than faith to pull this off. Crawford was blown away. He knew what the land was worth, how did he beat out all the other developers and builders? Then the panic set in: he had little time for due diligence and collections to close the property. Crawford was facing a very stressful four-month period. “I realized how many people get to tell you what you have to do with your property when you are trying to develop it.” Crawford wanted a custom neighborhood, but custom builders couldn’t afford to buy the lots quickly enough to get a development loan from the bank. Crawford had to inform his investors that their original plan was dead in the water. 24
Crawford felt blessed by a miracle, but his contract was expiring in two days. Fortunately, they were granted an extension to finish their due diligence and get through zoning. Crawford brought in business partner Mike Crowder to help reach the finish line. Crowder helped connect some dots and assemble a team who had years of experience. Crawford stresses that finishing the project was twice as exhausting as the due diligence period, including two rounds with the Franklin Township Civic League. “I got to meet all of my neighbors that were angry about this development. I had people stopping by my house uninvited and calling me unexpectedly to tell me how horrible I was for developing the land. We had angry write ups on social media about us and our plans. We had massive rumors and outright lies spread about us by incompetent or undereducated people. We had politicians and attorneys making numerous demands and threats. We had what seemed like every department in the local government scrutinizing and requesting changes to our plans.” They faced this treatment for months.
An especially intense situation was the zoning vote. If the vote was no, they would lose almost $200,000. A few neighbors attended to protest, including one with an attorney. Topics included traffic counts, a new turn lane, and tax revenue. Surprisingly, the vote was a unanimous yes. Crawford’s team was finally facing smooth sailing, but the ship sprang one more leak: one of the main investors backed out right before closing. They plugged the hole by raising $1M in one week to keep the deal alive and get to the finish line. Through this process, Crawford learned quite a bit about development. “I learned that you can’t please everyone and you don’t have to.” He’s grateful for politicians like Mayor Hogsett, Senator Freeman, Councilman Mowery,
as well as Cathy Burton with the Civic League, the Marion County Zoning Board, and the City Planner for understanding the importance of working together. “They all did their jobs by representing the people who trusted and elected them.” They renewed Crawford’s faith in politics during a contentious Trump/Clinton election period by working together across the aisle. Crawford also wants to especially thank his wife, family, business partners, investors, and everyone else that made Birchwood Park possible. Oh, and why the name Birchwood Park? “It was the only name we could find that wasn’t already taken that still had “wood” in the name to honor Woody Wooden, the farmer who wouldn’t sell.”
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COMMUNITY CALENDAR M A R C H & A P R I L Hold On To Your Butts By Recent Cutbacks
March 8 - 30 The District Theatre
“Hold On To Your Butts” is a live action, shot-for-shot parody of Jurassic Park performed by just two actors and a foley artist. 65 million years ago, dinosaurs ruled the earth...25 years ago, a movie about dinosaurs came out that ruled the box office. Now LAFF Shows present this acclaimed comedy. Part spoof, part tribute, this highly theatrical parody is intensely physical, imaginative, and silly, using only specific costume pieces and rudimentary props to recreate iconic moments from the film.
A DOLL'S HOUSE, PART 2 By Lucas Hnath
March 12 – April 7 Indiana Repertory Theatre
Straight from Broadway, A Doll’s House, Part 2 begins fifteen years after Nora left her husband and her children. As she returns to the place where she slammed the door on her past, long-kept secrets are split wide open. A scaldingly funny and deadly serious exploration of divorce, family and lost love.
The Importance of Being Earnest By Oscar Wilde
March 22- April 6 Civic Theatre
Although the play was written near the end of the 19th century, the message is still valid—a person’s name and heritage mean little; it’s what you make of yourself that counts. Two charming young ladies—sophisticated Gwendolen from the city and naive Cecily from the country—are in love with Earnest Worthing. But there is no such person as Earnest Worthing. Gwendolen thinks Jack is Earnest, and Cecily thinks Algy is Earnest. Each girl swears that she could never love a man who wasn’t named Earnest. In the midst of all this confusion comes Lady Bracknell, who doesn’t like the idea of anybody loving anybody. It sounds like a big mess, but Wilde unwinds this knotty affair into one of the favorite comedies of English literature.
COMMUNITY CALENDAR M A R C H & A P R I L Greater Indy Habitat for Humanity Kickoff Event
March 14 DeveloperTown
Discover how you can build strength, stability, and independence for families in need of affordable homeownership at this free event.
No Luck Irish Run
March 17 Plainfield
A St. Patrick's Day event with half marathon, 5K, and Kids Dash with a distance for all abilities and ages. Medals, prizes, shirts, and more for finishers.
Corks and Forks
March 20 Banker's Life Fieldhouse
A fundraising event to benefit Second Helpings with dishes prepared by top Indy chefs, wines, silent auction, entertainment, and more. 7-10 PM. Cocktail attire suggested.
Have any events you want featured? Email Aaron@indiana-realestate-news.com!
Why Choose Us? Exclusivity Your company will be the only one in your industry to advertise with us.
Exposure Every MIBOR Realtor will receive a copy and more industry offices will receive a copy across more mediums.
Education In addition to the articles in our magazine, we also produce educational videos and blog posts.
Community Oriented We reward industry professionals for their community involvement and customer service.
Inclusivity We feature the top 150 national realtors and the top 150 independent realtors.
ADVERTISE WITH US! Contact Aaron Henze at aaron@indiana-realestate-news.com