ANNUAL REPORT REVEALS AGENT SENTIMENT AND RANKS THEIR PRIORITIES

Coldwell Banker Real Estate ranked higher than any other brand in agent satisfaction

MADISON, N.J., May 2, 2022 /PRNewswire/ — Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) company, today announced the results of its annual agent priority report, conducted by Quester among agents and brokers across top national real estate brands to keep a finger on the pulse of what real estate professionals value in their careers. In a time when the Great Resignation has posed a threat to many American workplaces, and competition for exceptional agent talent is substantial, the real estate industry may not be experiencing an exodus of current sales agents. The report’s findings reveal that agent priorities among the real estate brokerage community are now more important than ever.

(PRNewsfoto/Coldwell Banker Real Estate LLC)

Real estate is a desirable profession.

• Citing work/life balance, increased income and gratitude for having a job, 60% of agents surveyed say the pandemic has had no impact on their future career plans as an agent, and about 25% say it has made them more interested in remaining an agent.

• For the third time, Coldwell Banker Real Estate ranked #1 in agent satisfaction. Coldwell Banker agents surveyed said they were extremely or very likely to recommend their current company to another agent.

No need to leave.

A hot market makes for happy agents, with only 9% of all surveyed agents across all brands reporting that they plan to switch affiliation this year (vs. 20% in 2020).

• What matters most among agents open to affiliating with Coldwell Banker?

• Coldwell Banker affiliated agents are less likely to change affiliation in the next two years than any other company’s agents according to survey results.

The top reasons for leaving.

• For those agents not affiliated with Coldwell Banker who chose to leave their company, numerous factors were at play. According to the survey, reasons why agents who were not affiliated with Coldwell Banker left their previous brand included:

Story continues

Brand reputation is key.

Real estate brands have more competition than ever to retain and attract their top talent. A notable brand reputation will prevail, as most agents agree that their company’s reputation is important to their business success. This sentiment is believed even more fervently among Coldwell Banker affiliated agents.

Coldwell Banker brand tools and network support are unmatched, and affiliated agents surveyed have a lot to say about their experiences:

“People trust the Coldwell Banker brand, and I get referrals because I work there. They also have a lot of training and support for new or busy agents. There are so many apps available, such as Listing Concierge, MOXI and InTouch that help me stand out from other agents.”

“Its reputation is unmatched. Everyone recognizes the brand and correlates it to excellence and professionalism,” said one Coldwell Banker survey respondent. “I appreciate its reputation and Coldwell Banker has assisted me in my transactions and assisted me in gaining listings.”

“The company is very ethical, and the top people are great. They are very responsive to the agents’ needs, and the company enjoys a great reputation. My customers and clients realize Coldwell Banker’s reputation, so it makes it easy to do business.

CLICK TO TWEET:

Partner with a meaningful brand. Agents’ opinion of the @ColdwellBanker brand is higher than any other #realestate brand, according to our 2022 Agent Priority Report https://blog.coldwellbanker.com/2022-agent-priorities/ #CBProud

QUOTES:

“At Coldwell Banker, we take immense pride in ensuring that the tools, services, and education we provide to our affiliated agents enable them to thrive. This survey, along with our significant recruitment and retention statistics, is confirmation that we are succeeding in our efforts and delivering the value that our agents deserve to build their book of business. They are also confident in knowing that we honor and respect them as individuals and esteemed members of our Coldwell Banker family. We warmly invite all agents to come and explore the power of the Coldwell Banker brand.”

– M. Ryan Gorman, CEO of Coldwell Banker Real Estate LLC

“The guidance of our agents is unmatched in the industry, and we are committed to understanding the priorities of real estate agents in order to deliver what matters most to our network. We believe our depth of care, our suite of production-boosting resources and our inspiring culture make Coldwell Banker Real Estate an extraordinary home for real estate professionals. It’s a commitment we call the Coldwell Banker Way.”

– David Marine, CMO of Coldwell Banker Real Estate LLC

Survey Methodology
This survey was conducted online within the United States by Quester on behalf of Coldwell Banker Real Estate from Q4 2021 – Q1 2022, among 1,405 licensed real estate agents or brokers that work primarily in residential real estate aged 21-75. Quotes provided by affiliated agents are anonymous, but all interviewed consented to having their statements anonymously published.

About Coldwell Banker Real Estate LLC
Powered by its network of over 100,000 affiliated sales professionals in approximately 2,200 offices across 40 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today’s marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2022 Women’s Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the possibilities of Gen Blue®, please visit www.coldwellbanker.com/join.

About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is moving the real estate industry to what’s next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company’s diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,700 independent sales agents in the U.S. and approximately 136,700 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today’s consumers. Recognized for ten consecutive years as one of the World’s Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row and is one of LinkedIn’s 2021 Top Companies in the U.S. and honored on the Forbes list of World’s Best Employers 2021.

Media Inquiries:
Athena Snow	Deanna Gorecki
Coldwell Banker Real Estate LLC	G&S for Coldwell Banker Real Estate LLC
973.407.5590	516.233.9446
Athena.Snow@coldwellbanker.com	DGorecki@gscommunications.com

Cision

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SOURCE Coldwell Banker Real Estate LLC

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Originally Appeared Here

Ottawa –

The federal government’s plan to ease runaway housing prices by rapidly ramping up the pace of home construction risks pushing up construction costs in the near term and could lead to oversupply in the long run, experts said.

Vowing to double homebuilding to keep up with population growth and address a shortfall that has helped fuel a real estate boom, Prime Minister Justin Trudeau’s Liberals last month outlined plans to build 3.5 million homes over the next decade.

But experts argue Canada’s housing shortage is not nearly as acute as the government suggests, noting starts are running at historic levels – around 250,000 a year – with a record number of units under construction, though completions lag.

“I think we definitely need new supply to meet increasing household growth as a result of immigration. I believe that the 3.5 million is a complete exaggeration,” said Steve Pomeroy, a housing policy consultant and professor at Carleton University in Ottawa.

There are very real risks to trying to force the pace of construction higher too quickly, he added.

“The consequence, if we do try to increase it, is we will run into a whole bunch of issues in the supply chain – labor, land and materials – and will actually push house prices even higher,” Pomeroy said.

Alarms are already ringing in Canada’s construction industry, which is facing a dire shortage of workers and a retirement crisis, not to mention rising costs of lumber and other raw materials due to the global supply chain crisis.Read full story

Homebuilding also generally falls under the jurisdiction of provincial and municipal governments, making it harder to craft a national strategy.

PRICE SURGE

National home prices have more than doubled since Trudeau took office in late 2015, and gains have far outpaced those of the United States and Canada’s other Group of Seven peers over the last 15 years.

The price surge has made homes in cities like Toronto and Vancouver unaffordable to many residents, prompting authorities to take steps to alleviate the pressure. Trudeau’s government recently announced a two-year ban on foreign buyers.

“We simply have not had enough housing supply in Canada to reflect the dramatic increase in our population compared to our G7 partner countries,” Canada’s Housing Minister Ahmed Hussen said in an interview.

Hussen pointed to OECD data showing Canada has fewer homes per 1,000 people than the G7 average. The existing shortfall adds up to about 1.8 million homes, according to Scotiabank estimates.

With immigration set to increase and more young people forming new households, the current construction rate is barely “chipping away” at that gap, said Bob Dugan, chief economist of the Canada Mortgage and Housing Corporation, the national housing agency.

“It would take 36 years in order to get there at the current pace of housing starts,” Dugan told reporters late last month. “And we have some internal estimates that suggest the need is much greater than that 1.8 million” forecast by Scotiabank.

But critics of that assessment say Canada needs fewer homes overall because it has more people per household than the G7 average, due to young children and intergenerational living. And Canada’s ratio of homes to population is on par with the United States and the United Kingdom, which have not seen nearly the same price appreciation.

“Count me as skeptical in terms of just how much of a massive supply shortage there is, perhaps outside of a few major centres,” said Doug Porter, chief economist at BMO Economics.

A more intense construction blitz also risks oversupplying the market. The last time Canadian home prices fell for a significant period was in the early 1990s, after rapid price gains in the prior decade led to a building boom and subsequent supply glut.

With rising interest rates cooling demand and housing starts at elevated levels, it is a situation that could repeat itself – to some degree – if construction ramps up too much.

“It is quite, quite possible that you could end up with oversupply,” Porter said. “I personally don’t lose that much sleep over that … But I wouldn’t entirely dismiss it as a concern.”

(Reporting by Julie Gordon in Ottawa; Editing by Denny Thomas and Paul Simao)

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Originally Appeared Here

Tune into Loving Living Local once a month to catch the Soco Home Show with Colorado First Time Home Buyer. Keni Mac and Nova dive into the the latest home trends, real estate market, and give a sneak peak at the latest episode of “Your First Home” with Randy Bell from Colorado First Time Home Buyer.

Learn more about why you should take the plunge to buy your first home, clicking here: Colorado First Time Home Buyer

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Originally Appeared Here

Sure, home prices in San Francisco are high, it’s a seller’s market with fierce competition among buyers, and single family homes are more in demand than condos. Blah-blah-blah. 

If you feel like you’ve read this all before, imagine how I feel. I know I’ve written it all before. And yet, each month I try to shed a little light on some aspects of the San Francisco residential real estate market with which you might not be familiar.

First, the contrarian view, expressed in a mid-April report by SocketSite.com. “Having hit an 11-year seasonal high last week, the net number of homes on the market in San Francisco has since ticked up another 8 percent, driven by a continued slowdown in the pace of sales along with an increase in listing activity and price reductions on the rise.

“In fact, there are now 70 percent more homes on the market than there were at this time of the year prior to the pandemic; over twice as many as there were in early April of 2015; and the most, on a seasonal basis, since 2011.”

KEEP CALM

Sounds promising for buyers, doesn’t it! But don’t get too excited, here’s the counterpoint. According to Redfin, from Jan. 1 to Feb. 15, 40 percent of the homes sold in San Francisco went for at least $100,000 over asking. The thinking is homes are currently selling at record prices and their values are only growing.

In an April market report the folks at Compass explain that while it’s true San Francisco is the only Bay Area County in which the number of active listings is higher than before the pandemic, it’s because of an increase in condo listings: The inventory of active single family home listings continues to run lower. 

The report says, “Sales were robust in Q1 for all property types, but the supply of house listings in particular was very low.” 

Meanwhile, mortgage interest rates have skyrocketed 50 percent in 2022, as of March 31, with the biggest jump taking place in March. Still, San Francisco’s real estate market seems largely unfazed by higher interest rates, volatility in financial markets, and troubling international events. 

“The prevailing dynamic remains one of strong buyer demand competing for an inadequate inventory of listings for sale,” according to the Compass report. “Crowded open houses, multiple offers, fierce overbidding, and fast sales remain common.”

Some buyers have been hurt by higher loan rates and declines in their stock portfolios, and some have postponed their purchase plans, but according to Compass, “not enough to move the needle on the fundamentally high-demand/low-supply conditions that dominated 2021.”

AND CARRY ON

Is there any silver lining for buyers out there? Taylor Marr, Redfin’s deputy chief economist, thinks there might be. He is seeing early indications that the housing market might be cooling down in some pricey coastal areas — including San Francisco. 

It’s not much, but here’s what he has:

To begin with, the number of Google searches for “homes for sale” dropped considerably in the second week of March for these three markets: Boston (-15 percent), San Francisco (-14 percent), and Los Angeles (-13 percent).

Next, tours of for-sale homes in California have dropped 21 percent as of March 31 from the first week of 2022. That’s a major turnaround from the same timespan last year, when touring activity in California rose more than 76 percent.

Third, the number of homebuyers in San Francisco who applied for a mortgage dropped 13 percent year-over-year in February.

And finally, Marr adds, “For this time of year, the share of homes with price drops has been growing at its fastest pace in at least seven years. While price drops are still a rarity, the fact that they are quickly becoming more common tells us that sellers are reaching a limit on their ultimate control over the market as buyers reach a limit on how much they are willing to pay for a home.”

Again, these are early indicators. To homebuyers, sellers, and agents, the market still feels really hot, and it may take a few months for competition to ease. Told you it wasn’t much of a silver lining — but like rain for Californians, buyers will take what they can get.

One last note: The San Francisco Chronicle recently did a study that identifies 10 real estate markets on the cusp of a San Francisco-style affordability crisis — where home prices have nearly doubled in a decade, and where not enough new housing has been built to keep up with demand. 

The cities are mostly smaller, and largely rural. Three are in the state of Washington, two are in Montana, two are in Utah, one is in North Carolina, and two are in California — San Diego and Merced. 

Don’t know about you, but I’m staying put.

Feedback: letters@marinatimes.com 

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Originally Appeared Here

When we hear the term local SEO, we often think about the strategies and tactics that local retail or B2C businesses use to optimize their online visibility and drive traffic to their physical storefront.

However, there are also B2B businesses, which may or may not operate from a distinct location, e.g., a commercial realtor.

These types of businesses have similar, albeit slightly different, challenges to having their customers find and engage with them via organic search.

The overarching goal of a local SEO strategy for any B2B business (much like its B2C counterparts) is to establish itself as the most trusted authority for all topics related to the products and/or services within a specific geographic service area.

As such, businesses must present themselves as active, trusted community participants who create real value for their customers and the community at large.

You can still apply local SEO tactics to improve visibility in local map packs and organic results.

Below are a few best practices to consider specific to B2B.

Start With The Basics

Every SEO project, locally-focused or otherwise, must begin with a solid foundation.

This means conducting a thorough web presence audit or SWOT analysis to identify where to focus on-site and off-site optimization efforts, whether the business is new or well-established.

A comprehensive strategy will include:

• Intent-driven, topical keyword research to identify how customers are searching.
• Local qualifiers such as “ near me” and “ in [service area]” to mimic typical consumer search behavior.
• A technical website audit focused on site/page structure and performance.
• Locally-oriented keywords into primary structural items like page titles, headings, and meta descriptions.
• Internal and external link reviews to establish how search engines lead searchers to the right answers to their queries and which links influence online authority.
• Detailed competitor analysis to understand who stands in the way and what level of effort it may take to unseat them.

The output of each of these exercises should be a prioritized checklist of items forming the basis of your foundational optimization efforts.

Leverage Schema

One particularly important local SEO tactic is using local business schema or HTML markup to standardize the structure of information preferred by the search engines.

According to schema.org, which governs the use of schema,

“On-page markup enables search engines to understand the information on web pages and provide richer search results in order to make it easier for users to find relevant information on the web.”

Business schema can be used to structure the business address, hours, departments, and reviews, and translate into a similarly structured display within the organic and mapped search results.

Here is an example of how to structure a local business address and other information:

Screenshot from search for [commercial real estate Barrie], Google, April 2022

Another potential use of schema is tagging questions and answers in an FAQ section of a business website, highlighting the business’s area of expertise.

Questions and answers tagged in this manner may display as coveted rich text snippets in search results.

Screenshot from search for [what is commercial real estate], Google, April 2022Schema can be a powerful and often overlooked tool that can vault a business’s visibility and content to the top of the search results.

Optimize Your Google Business Profile

A Google Business Profile (GBP or formerly Google My Business page) is a critical component in local SEO. It enables Google to validate the existence of a business within the area it services.

Each business can claim and verify its location, which must be a physical address, even if its business with customers is not formally conducted at the address.

The GBP enables a business to provide all relevant details, including business hours, website links, categories, products, services, logos, images, and/or videos.

Profiles should be as complete as possible.

Google recognizes not all business is done at fixed locations and provides several B2B categories under which such businesses may operate.

Screenshot from search for [commercial real estate Barrie], Google, April 2022The GBP also provides an important place for customers to provide business reviews, whose importance is discussed below.

Beyond initially configuring your GBP, it can and should become a channel through which you engage with your local customers.

Ideally, establish a cadence for posting relevant content at least once a week.

Regular posting of events, promotions, or general information helps improve local search visibility as Google naturally favors active businesses.

Don’t Nap On Your NAP

NAP stands for Name, Address, and Phone Number, representing each business’s unique identifier and is likewise important from a local SEO perspective.

Specifically, pay attention to the accuracy of the NAP wherever it may appear across the Internet, from the corporate website to the GBP and within local directories or other sites referencing the business.

Google and the other search engines cross-reference all of these occurrences of the NAP and reward those businesses that maintain a consistent and accurate profile.

Pro Tip: A quick and free way to start managing your NAP is by simply searching your company name and reviewing the search engine results for all mentions of your business and its NAP.

Manage Your Local Listings

Another important signal of a business’s locality is its appearance within relevant local listing sites.

There is a wide variety of free and paid, locally-focused, categorized directory sites businesses can maintain listings.

Here, too, it’s important to maintain consistent NAP info.

However, many directories enable enhanced listings, including product or service information, images, promotions, or other features geared to lead generation.

As with your GBP, the more detailed and complete your listings are, the better.

Many of these directories also offer consumers the opportunity to provide reviews, which should be noted and monitored accordingly.

Use the pro tip above to identify directories. Several paid listings management solutions will also find and update all of your business listings automatically and enable you to monitor and manage them on an ongoing basis.

A deeper analysis should include referencing your primary target keywords’ search engine results pages for any relevant directories.

Those ranking well should be of particular interest as they, by definition, are considered relevant and authoritative in the eyes of the search engines.

Ask For And Respond Promptly To Reviews

Online customer reviews have become a standard and highly trusted resource within the modern B2B buyer’s journey.

Depending on the study, consumers consult reviews before purchasing anywhere from 70% to 95% of the time.

I’m certain we’ve all done it in our personal or professional lives.

These reviews, in turn, have a definitive impact on a business’s local search and map pack visibility.

As such, it’s imperative to encourage your customers to provide reviews via the platform of their choosing, though you can and should guide them to your GBP first, as it will naturally hold significant weight when it comes to Google rank.

Further, it’s important to respond to any reviews quickly, particularly when reviews are deemed negative.

A business’s ability to respond reflects on its organization, customer service, and the general strength of the business.

Some studies have even indicated consumers are more trusting and likely to work with businesses that have effectively addressed issues.

Become The Local Expert

You’ve likely heard the phrase “content is king,” and nowhere is this more true than in B2B SEO. As mentioned, a primary goal is to convince Google your business is the authority on topical areas related to your products and services.

Google rewards topical authority with higher organic visibility, a key benefit of content marketing.

While not easy, at a local level, there is a significant opportunity to become an expert by consistently producing relevant, high-quality content that addresses your customers’ needs at each stage of the buying cycle.

Establish your website, blog, or other content such as instructional or promotional videos, as the go-to resource for customer questions and answers in your service area.

As such, the keywords you use within your content should include local identifiers, e.g., “commercial real estate trends in [location]” or “leasing office space in [location].”

The same content should then link back to your primary ranking product and service pages, where appropriate, to further boost their overall authority.

All content should work together to lead customers from their initial search for a solution to purchasing.

Engage With The Community

Another way to establish authority within a community or service area is to become an active participant.

Some of the ways a business can engage with its community include:

• Becoming a member of the chamber of commerce or other local business organizations.
• Joining and supporting local service groups.
• Sponsoring local events or charitable organizations.
• Hosting or participating in local events.
• Partnering and co-marketing with like-minded businesses.

In each case, publish and promote your participation in these activities via your business website and/or social media properties.

Where possible, also seek out opportunities to gain inbound links to relevant pages of your website from any partnering organizations.

These links are valuable signals to the search engines as they help further validate your local presence.

Mind Your Competition

Before you can analyze your competitors, you need to properly identify them, which can sometimes be enlightening when it comes to online competition.

Once you’ve established the topical keywords you want to be found for, use them to understand which competitive domains consistently appear in the search results, particularly those outranking you.

You can perform technical website and content audits to understand how these competitive sites may outperform yours.

You can also look into your competitor’s backlink profiles to see if there are websites where they’ve obtained relevant, high authority links where you have not.

Finally, pay attention to the content they create and the frequency to guide your own content marketing cadence.

As mentioned, the goal is to establish your business as the local expert, and this may take some effort if others are on the same path.

B2B Requires H2H (Human To Human)

The final analysis of your local authority and visibility falls on your customers’ validation of your business through their search, visit, consumption, sharing, and review behavior.

The onus is ultimately on you and your business to ensure you provide your human customers with content, answers, products, and a level of service that will keep them coming back for more and telling their friends and colleagues about you.

Search engines recognize and positively rank local businesses that deliver exceptional experiences and establish a loyal, trusting human audience.

More resources:

Featured Image: Kachka/Shutterstock

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Originally Appeared Here

BOSTON – Boston Realty Advisors, the largest Boston-based independent real estate brokerage and advisory firm in Massachusetts, is representing Talanian Realty Co., owner of 137 Newbury St., for the lease of two floors of the prestigious owner-occupied boutique office building in the Back Bay.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• The owner has recently renovated the lobby and is in the process of renovating the largest roof deck on Newbury Street.
• Tenants would join other 137 Newbury St. occupants including Solamere Capital and Hyperplane Venture Capital.

Click image above to view full announcement.

Founded in 2001, Boston Realty Advisors is a Boston-based, privately held, locally operated real estate firm. BRA is data-driven, with real-time insight on real estate trends ranging from commercial and residential development to debt and equity markets. BRA applies industry experience to inform decisions, manage risk, and maximize profitability for its clients. For more information, please go to www.bradvisors.com.

Source: Boston Realty Advisors

Distributed by: Reportable, Inc.

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Originally Appeared Here

The real estate industry has ever since been one of the most statistically dynamic industries. Its sensitivity to economic factors mostly causes fluctuations in its market trend. But the market, prices, and listing remain relatively stable, making it a robust sector over the past years. However, when the pandemic hit the world in 2020, real estate is also one of the industries that faced some setbacks.

The demand of buyers dropped as the whole world struggled for survival. But a year into it, it began to get hold of the situation and started to fare up well again. The real estate market also evolved – for better and for worse. It was never the same as it was in the past years. And there is also so much to it that we can expect. So, we analyzed some of the trends and expectations that 2021 has opened up for the industry.

Avi Waxman via Unsplash

Real Estate Trends to Know in 2022

Increasing Prices of Houses

Real estate prices are majorly affected by the shift in income. If we factor in the inflation rate and tax rates to pick up the economic slack, then we should expect skyrocketing house prices. In June 2021, the active listing price, according to Realtor.com, increased by about 12.7% over the last year. Although the figure is significantly lower than the previous months, the median price list forecast is uncertain, making real estate still less affordable. However, realtors are hopeful that the prices will stabilize until the next buying season as the static economy begins to lift.

This is one of the reasons why homeowners are nowadays downsizing and choosing to buy tiny homes to minimize financial waste and elevate the efficiency of their household. The increasing price is also partly due to the high demand and low supply of the real estate market. On a lighter note, it means that the home value is also growing. Therefore, it is beneficial to the current homeowners if they want to sell or refinance their property.

Competitive Demand for Housing

The rising home prices may have pushed some people to look into other housing options like house rentals. However, as housing interest rates cooled down during the pandemic, others are grabbing the opportunity to score a deal. The problem is the decrease in listing and inventory, so most homes still sold out faster. With the right strategy, this is also the best time to sell a house at the highest offer.

Presently, millennials are dominating the buyer market and are using reliable sources like the Kukun iHomeReport to gauge real estate prices and property value, in order to make better long-term investments. It is without prejudice to the anecdotal reference of them being the slowest generation to afford their first homes. But career growth, higher income opportunities, and paying off of their student loans propel the demands of this age group. Thus, the competition over limited listings will continue over the year.

The Trend on Online Selling

With millennials leading the market, they also cause a major shift in real estate selling. The norm right now is to make everything available at a click of a button. It altered the real estate agent’s job from traditional on-site tours to making the listing catchy while providing all information at a glance. Some buyers may even like the convenience of a virtual tour. Instead of providing information about the tangible properties of the house, agents’ work is basically reduced to negotiations and facilitating paperwork.

The buyer needs to be aware of all the steps throughout the transaction process and even work with a professional to ensure a smooth purchase with no hidden fees. Investment properties in platforms offer bigger opportunities than traditional selling. Online provides convenient access across various networks of resources with the best price offer possible. This revolutionary trend is expected to progress and keep abreast with technological advancement.

Demand for Home Offices

With telework slowly taking traditional office setups, home office spaces become attractive to buyers. The biggest cities logged an increased interest from buyers looking for small office spaces. With millions of jobs transported into the comfort of the bedroom, many are willing to take the trade. It means investing in homes with spare bedrooms that are conducive to the work-from-home setup.

Surprisingly, the trend is also geared towards self-storage facilities instead of multi-room houses. It becomes the new normal in remote working that is not expected to wither out soon. The storage units are convenient for all business needs. So gone are the days when storage units are the mere stockroom or warehouses. It also offers a temporary solution to work and business transitions. This trend blurs the lines between the property and its uses.

Migration to the Suburbs

Space and spacing problems in big cities have resulted in people choosing to relocate to the suburbs. With the convenience of a work-from-home setup, there is an expected exit of the population out of the city. It is likely because of the opportunity to build bigger and updated homes in the countryside. Rural real estate can afford homeowners the benefit of a yard and livable space.

Additionally, it is not just the millennials making an exodus from the urban setting. The older population also prefers rural living with its pristine environment, and maybe the viability of building a stairlift for the seniors.

The resurgence of town living splurges up during the pandemic, and the statistic is continuously increasing. Researchers are unsure whether it is just a reaction to the pandemic or a permanent real estate trend. But the living space and affordable rates drive the sense of lifestyle in potential home buyers. That is why the suburbs become an attractive location for scouting viable homes and properties and getting on with their moving checklist.

Final Thoughts

Real estate is still a lucrative industry with a dynamism that changes but will never waver. It can withstand recession as evidenced by the current scenario of the COVID-19 pandemic. Expectedly, there is a slight downturn for about a couple of years because of the economic downfall. But it is slowly rising back up to stabilize itself in the second quarter of 2021.

The new normal in real estate is perhaps its continuous progress. It has to keep abreast with technological advancement and meet the demands of the market. Now that the millennials are at a boon into property buying, the market gets nimble and more competitive. Despite the increasing prices, the mortgages are still low and may remain until the last half of 2021. Thus, this is still the best time for prospective buyers to negotiate their bids.

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Originally Appeared Here

Before architect William Fletcher was celebrated as one of Portland’s most influential midcentury modern designers, he and his then wife, Joyce, moved into Fletcher’s first creation: A revolutionary looking, almost transparent dwelling built in 1954 on two forested acres near the Willamette River.

After 68 years, the family home is for sale for the first time: 10803 S. Riverside Drive in Riverdale, between Portland and Lake Oswego, was listed on April 25 at $1,250,000 by Lance George Marrs of Portland Modern Real Estate.

Marrs rightfully refers to the residence as an architectural gem.

Fletcher family members say Joyce, a photographer and painter, selected the location and William (“Bill”) designed the open floor plan with floor-to-ceiling windows that dissolve the boundaries between inside and out.

Soon, the avant-garde two-story with cork floors and planked ceilings was showcased in The Oregonian and national publications as well as the 1959 book, “The Second Treasury of Contemporary Houses.”

“Midcentury modern enthusiasts will be attracted to this home and acreage,” says Marrs, which he adds is “on a short list of properties genuinely coveted in the Northwest modernism designed by William Fletcher.”

Bill Fletcher, a third-generation Oregonian influenced by modernist trailblazer, German-American architect Ludwig Mies van der Rohe, and the spare International Style movement, designed a limited number of houses.

But architectural experts say his work is timeless due to its graceful geometric forms, highly livable layouts and carefully positioned windows and skylights that draw in natural light.

Here, clerestory windows add to the sense of lightness, as if elements are floating. The house with 2,298 square feet of living space also has a long, concrete fireplace hearth in the living room and three bedrooms and two bathrooms.

With a degree from the University of Oregon’s School of Architecture, Fletcher first set up shop in the basement of his home in 1955.

A year later, he shared a downtown studio at Southwest 14th Avenue and Columbia Street with architects Donald Blair and Saul Zaik as well as other members of the fabled “14th Street Gang” of outliers designing intentionally pared-down buildings in the Pacific Northwest.

In 1956, Fletcher partnered with Dale Farr and Hal Ayotte to launch what is now FFA Architecture and Interiors, Inc. The Portland-based firm continues to design sustainable residential and commercial projects.

Early commercial projects include Black Butte Ranch residential resort near Sisters and Rex Hill winery in Newberg, where Fletcher famously dedicated a space for a steel sculpture by Lee Kelly.

Aidy Bryant as “Annie Easton” (center) talks to Lolly Adefope (“Fran”) and Luka Jones (“Ryan”) inside Portland’s 1959 Wedgwood Home of Tomorrow in a scene in “Shrill.” Hulu

The 1959 Wedgwood Home of Tomorrow that Fletcher conceived with Blair in Northeast Portland’s Hazelwood neighborhood was used as a film location for “Shrill,” a comedy series starring Aidy Bryant and streaming on Hulu.

The experimental model home, with an incredibly lightweight folded-plate roof, prefabricated panels and suspended fireplace, earned a merit award from the American Institute of Architects during the halcyon days of midcentury architecture.

The house, often misspelled “Wedgewood,” was listed for sale at $639,000 on Jan. 12, 2021, and sold a month later for $77,000 over the asking price.

In 2017, the statewide historic preservation organization Restore Oregon dedicated its annual Mid-Century Modern Tour to Fletcher’s attractive, ground-breaking structures.

Restore Oregon’s first book, “Oregon Made, A Tour of Regional Mid-Century Modern Architecture” ($35 at restoreoregon.org), includes a chapter on Fletcher’s talent at balancing the allure of transparent walls with the need for privacy.

Bill, whose friends said was a detailed-oriented, jazz drumming rebel, died in 1998. Joyce, a graduate of Cornell University in New York who traveled throughout her life to understand world cultures, died in January 2022.

— Janet Eastman | 503-294-4072

jeastman@oregonian.com | @janeteastman

More on the Portland and Oregon real estate market:

• Midcentury modern architecture home tour and book fair support Restore Oregon’s preservation work

• Three levels, big views, seven offers in a week: Portland architect’s house for sale for the first time

• Buying mansions in Boring, where there’s ‘more bang for the buck’

• Two Pearl District townhouses in former train station are for sale, starting at $1,575,000

• Oregon’s ‘Terrible Tilly’ lighthouse on private island for sale at $6.5 million

• Portland’s huge mansions for sale: What kind of homes with space can you get for $8 million or less?

• Oregon’s best-known baker, Ken Forkish, puts SW Portland house with bread oven up for sale

• Portland homes designed by Pietro Belluschi come with camaraderie

• Former Timbers’ star Diego Valeri puts NW Portland home with private soccer field up for sale at $1,199,000

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Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

Brittney Levinson joined The Canberra Times in 2021 as part of ACM’s national property team. As the region’s dedicated property journalist, Brittney covers everything from real estate trends and new developments through to the stories behind the record-breaking sales. Got a news tip? Get in touch: brittney.levinson@canberratimes.com.au

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Anchored by Gold’s Gym, the tenant roster of Merritt Manor Shopping Center features a mix of national and local retailers, including Sherwin-Williams, Dollar General, Hair Cuttery, GNC, Chicken Rico and Leslie’s Swimming Pool Supplies. (Submitted photo)

Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company, has completed the sale of Merritt Manor Shopping Center, an 88,332-square-foot fitness-anchored retail center in Dundalk for $11.9 million to Abrams Development Group, a Columbia-based commercial real estate company.

Located at 1119-1211 Merritt Blvd., the asset was 96% leased and occupied at the time of the sales transaction. Dean Zang, executive managing director for investments, and David Crotts, vice president for investments of Marcus & Millichap’s Washington office handled marketing and sales activities and represented Continental in this transaction.

Anchored by Gold’s Gym, the tenant roster features a mix of national and local retailers, including Sherwin-Williams, Dollar General, Hair Cuttery, GNC, Chicken Rico and Leslie’s Swimming Pool Supplies. The center is located at the signalized intersection of Merritt Boulevard and German Hill Road, and nearly 42,000 vehicles pass the site daily.

CRC acquired the property in 2013, which was 83% leased, for $8.6 million. Continental executed on a comprehensive renovation of the center’s exterior facade, enhanced all landscaping elements, and upgraded the center’s signage following the acquisition. This capital repositioning strengthened leasing demand for the center. In addition to improving the tenancy and renewing the successful tenants in place at the time of acquisition, CRC also subdivided a roadside pad site and successfully sold the pad into the triple net market in 2021.

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