Curious to see the other cities we evaluated and if one of them is yours? Click here to jump down to our methodology section to see the complete list of cities ranked and the methodology behind how we came up with rankings.

Best 10 Cities for Real Estate Agents

1. Las Vegas, NV

Beyond the glitz, glitter, and glamour of the Las Vegas Strip is a sprawling city of almost three million people. This desert oasis is no longer just blackjack tables and star-studded shows—it’s a fantastic hub for real estate and number one on our list of best places to be a real estate agent. 

Many factors have to come together to create this perfect locale for the real estate industry, including plenty of brokerages that are hiring, median house prices well over $400,000, and take-home pay of $79,770 (ranking eighth). But what really sets Las Vegas apart is that just about everyone is moving there. The population, which has grown by over 6% since 2021, is supported by a healthy job market (3.8% increase in 2023). It’s also boosted by a rock-star construction sector churning out new builds ready to sell. 

Just as locals know that the best Elvis is Big Elvis at Harrah’s, they also know that Vegas is a safe bet. Sure, it’s hot in the summer (like use-an-oven-mitt-to-touch-your-steering-wheel hot) and full of tourists screaming, “What happens in Vegas….” but the numbers don’t lie. Real estate agents looking for a hot spot to start their businesses should absolutely consider Sin City. 

2. Los Angeles, CA

Las Vegas isn’t the country’s only western, desert-like real estate hot spot. The City of Angels comes in at number two on our best places for real estate list, and it’s well-deserved. Beyond the film sets, NFL teams, NBA teams, MLB teams, clogged freeways, and tar pits, it is a bustling metropolis with chic homes and super-star agents. This mecca is where Josh Flagg and the Altman Brothers lob sarcasm at each other and where the cast of Selling Sunset show properties in sky-high heels. 

According to our extensive calculations, it ranks third for agent opportunity and third for house median price (a whopping $1,200,000). Perhaps even more impressively, it ranks as number one for overall real estate commission opportunities. Los Angeles has higher prices than most other cities and more homes for sale (10,044 units, which puts them ninth in inventory). This market means agents who work hard have greater earning potential. 

Those ‘in the know’ don’t drive from Santa Monica to Pasadena, but they do make the drive to El Sauz in Glendale for the city’s best burrito. They also know how to wheel, deal, and make the most of one of the best cities for real estate agents.  

3. Boston, MA

Boston has so much going for it: beautiful parks, hundreds of years of history, plenty of sports teams, and a great sense of humor. It also has an excellent market for real estate agents; for that, Boston is number three on our list of top cities for real estate. 

We’ll start with the low rates of competition. For every 1,000 people, we find only 0.4 of an agent, which is better than every other city we analyzed except for two. Boston ranked third for location quotient (a measure of the prevalence of an occupation in an area relative to the US average). These stats helped Boston reach second place for agent employment opportunities. High rents allow it to rank second, and median housing prices (almost $1 million) put Beantown in fifth place, a solid number for commission-based agents.

The only place Boston fell short was in pro-team season records. No, no, I kid. Boston didn’t fare as well in terms of growth opportunities. The stats show that Boston is growing (0.53%), but not at the Los Angeles and Las Vegas rates. Still, if you love to laugh and don’t like Bill Belichick, now is the time to move to Boston and take advantage of all that the Boston real estate industry offers. 

4. Charlotte, NC

Charlotte’s tagline is “Charlotte’s got a lot,” which is charmingly unassuming. Got a lot of what? Mosquitoes? Traffic? Midwestern transplants? It turns out that Charlotte has a lot of opportunities for success in real estate. It comes in fourth on our list of the best cities to be a real estate agent, and it’s clear why: everyone wants to be there. Seriously, it had the second highest population growth rate of all 64 cities (2.38%), and the job market is keeping pace, with a healthy 2.5% growth. 

Add to this that Charlotte ranks eighth for new build permits, and it’s clearly one of the best cities to be a real estate agent. Now, that doesn’t mean it’s all easy success for agents in the Queen City (I was serious about the traffic). Some stats need further consideration. For example, Charlotte comes in 15th for employment opportunity, which indicates more competition (about one agent per 1,000 people) and a lower average take-home pay ($56,760, ranking 42nd). 

But don’t let those stats scare you away from all the things that Charlotte has. The statistical trends are clear: Charlotte is growing by leaps and bounds, and smart agents are there, carving out their niches, ready to sell to the next frozen Midwesterner looking for a warmer life down south. 

5. Washington, D.C.

The nation’s capital is a city of opposites: it’s full of Southern efficiency and Northern charm; it’s the seat of government but has no voting representation in Congress. It is beautiful yet built on a swamp; it’s a transient community with steadfast loyalty from true Washingtonians. In keeping with that trend, Washington ranks highly on employment opportunity (fifth) and commission opportunity (fifth) but not well on growth opportunity (25th). But it still ranks highly enough that it’s our fifth best place to be a realtor. 

Let’s start with the good news: it has low competition and high wages ($74,930). Also, because median housing prices are relatively high ($615,000), rent is high, and houses get snapped up pretty quickly (median days on market is 50), which bodes well for real estate professionals and home sellers. 

Washington, D.C., falls a little short in population growth, trending upward but not nearly at the pace of our number four spot, Charlotte. The job market is also growing, but not at the pace we see in other cities. Washington, D.C., currently ranks 40th for percentage of job growth (1.4%). But, despite the slower growth, new building permits are soaring in this city of contradictions. 

6. Dallas, TX

Everything is bigger in Texas, including the real estate opportunities. Take a peek at the real estate news from Dallas/Fort Worth (DFW). It’s all massive development deals and multi-million dollar sales because, again, everything is bigger in Texas. But that’s precisely why it’s one of the best places to be a real estate agent. 

The data is a bit of a mixed bag, but some numbers might prove enticing to real estate agents. The most promising is the average take-home pay, which is $79,210 and ranks 10th out of 64 cities. The availability of brokerages is also high, meaning it’s less challenging to find employment. However, competition is high, with almost 2.5 agents for every 1,000 people. I find this surprising as getting your Texas real estate license is especially time-consuming, and they have pretty much zero reciprocity with other states. 

The median housing prices are in the middle of the stack of cities ($439,000, 28th), as are the days on the market data point (58 days, ranking 34th). However, Dallas shines with its above-average inventory, ranking fourth. Plus, inventory will improve as builders complete the properties for the 66,557 permits pulled (ranking second). All in all, DFW has fine art, wonderful restaurants, a bustling economy, a strong distaste for Houston, a polarizing NFL team, and, most importantly for us, a robust real estate industry.

7. New York, NY

I bet you were wondering when this little hamlet would show up on our list of the best places to be a real estate agent. New York, the Big Apple, New Amsterdam, the city that never sleeps, is number seven, and that’s because if you can make it here…

New York comes in at number one for average annual salary: $97,780, which is a pretty compelling number for any real estate agent. Plus, New York has 7,161 real estate establishments. I bet that’s more than Starbucks. It’s also (shockingly) not competitive (regarding the number of agents. We should clarify that the world of New York real estate is extremely competitive). New York ranks sixth for agents per 1000 people (only about half of one agent). New York offers the very best employment opportunity of any city we analyzed. 

It also does well in terms of commission opportunity: properties are expensive (the median housing price is $799,000, and rent is $3,400). Plus, we see better-than-average inventory. All of this, plus the fact that New York is the de facto capital of everything au courant in art, fashion, food, and finance, puts New York in the top 10 of the best place to be a real estate agent. 

8. Nashville, TN

Nashville is another southern town attracting people (and bachelorette parties) from around the country. Its strong local economy and new-build rush make it one of our top picks for best places to be a real estate agent. While it might sometimes feel too full of transplants, country music stars, and bad drivers, Music City still has a way to charm you, especially when you consider that it ranks fourth in commission opportunity. 

Housing prices are pretty strong (with a median house price at $575,000 and rent circling $2,145), and it’s a white-hot market that ranks fourth for fewest days on the market (44 days). Nashville is also a city that’s getting bigger, with a steady population growth rate and an economy to match. While pretty unexceptional right now, inventory is sure to improve, as Nashville ranks 11th in new residential construction permits. 

But Nashville offers room for improvement with very few brokerages (only 594, ranking 42nd). But worse than that, Nashville ranks dead last for annual wages—64th for salary, coming in at $39,550. Tennessee, we can do better! Maybe that’s the biggest enticement of all to move to Nashville. Not that you might see Taylor Swift at a cupcake shop, but that you see so much opportunity in the future of Nashville real estate and want to up that wage average! It has to happen, and you’re the agent to do it. Please say hi to Taylor for us. 

9. Austin, TX

People who live in Austin know three certainties: it’s a fire-hot real estate market, the city is constantly changing, and you should get your green chile pork missionary style at Torchy’s. While most strive to keep Austin weird, tech industry transplants continue to have an impact, driving up housing costs (and adding to the traffic). However, periods of change and growth mean real opportunities, especially for enterprising real estate agents. And that’s precisely why Austin landed on our list of top cities for real estate agents. 

Let’s start with how much agents generally make: $82,170. That puts Austin as the sixth-best city for wages. Austin also has pretty exceptional commission opportunities: the median housing price sits at $630,000 (ranking 14th), an average monthly rent ranks 14th, and a steady inventory (also 14th). But Austin really shines with its growth potential: it ranks second out of all the cities, bested only by Raleigh, NC. Austin’s population growth rate is 2.06%, and the job growth rate is keeping pace at 2.8%. Perhaps most excitingly, for agents, almost 40,000 new build construction permits are ready to go.

Austin looks like a great place for real estate agents, right? Many people have thought the same thing, which is why competition is stiff. Austin ranks near the bottom per capita agents, placing 48th overall. It also ranks really low (51st) in terms of location quotient. The takeaway here is that the opportunities exist. Still, you might have to elbow your way in. 

10. Atlanta, GA

Maybe it’s because Atlanta has so many real estate influencers, but when I think real estate, I think Atlanta. I would argue that not only is Atlanta one of the best cities to be a real estate agent, but Georgia is one of the best places to get a real estate license. It’s relatively quick and affordable, and the upside potential is unlimited. 

Let’s break down the numbers. Atlanta scored well in growth (sixth) and commission opportunity (10th). Properties in Atlanta don’t have the highest median prices ($410,000, which ranks 31st), but the inventory is strong. The metro area is also booming, which is clear from the population growth percentage (ranks in the top ten) and job market (ranks 14th). Agents will also love that Atlanta ranks sixth for the number of building permits that have been pulled. So, like many cities on our list, we see tremendous potential for real estate agents to be wildly successful. 

Of course, there’s always a caveat. For as well as Atlanta did in some areas, the agent opportunity ranking (40th) is sad. The data shows a lot of competition (~2.7 agents per 1,000 people) and low average wages ($58,250). However, agents who value hard work and have a burning desire to succeed will face no real limitations. After all, if the guy who started a University-of-Georgia-themed restaurant right across the street from Georgia Tech can be successful, you can too.

Worst Five Cities for Real Estate Agents

First, we are not making a value judgment on these beautiful metropolises—we’re just reporting the numbers. Regarding this specific data set, the worst five cities for real estate agents are Charleston, WV; Jackson, MS; Milwaukee, WI; and Bridgeport, CT. At the bottom of the list of 64 is Bozeman, MT. 

60. Charleston, WV

• Employment Opportunity: ranks 58th
• Commission Opportunity: ranks 64th
• Growth Opportunity: ranks 22

With only 34 real estate establishments (ranks 64th) and 1.8 agents per 1,000 people (42nd), competition makes Charleston tough for agents. Add to that low listing prices ($173,800, ranks 60th) and ranking 53rd for median days on market (64 days)—it’s just not looking good for our West Virginian agents.

61. Jackson, MS

• Employment Opportunity: ranks 28th
• Commission Opportunity: ranks 62nd
• Growth Opportunity: ranks 57th

Jackson is interesting because its population is growing (1.15%, ranking 15th), but the job growth is in negative numbers (which puts it at the bottom, 64th place). With housing prices sitting at $107,000 (ranks 63rd), the opportunity for higher commissions sinks lower.

62. Milwaukee, WI

• Employment Opportunity: ranks 42nd
• Commission Opportunity: ranks 48th
• Growth Opportunity: ranks 61st

It’s not easy for Milwaukee agents to make much, considering that home prices rank 61st ($170,000) and wages rank 56th ($49,920). That, plus low population growth (ranking 53rd) and slow job growth (ranking 60th), means the future might not be much brighter, at least in the short term. 

63. Bridgeport, CT

• Employment Opportunity: ranks 39th
• Commission Opportunity: ranks 54th
• Growth Opportunity: ranks 58th

Salaries soar to $83,850 in Bridgeport, which puts this seaside community in fourth place. But everything else is bad news, from the competition (2.45 agents per 1,000 people) to the extra median days on the market (ranks 47th). Throw in that the population growth is just above stagnant (ranks 52nd), and it might be better to set your GPS for New York, just an hour or two down the road.

64. Bozeman, MT

• Employment Opportunity: ranks 59th
• Commission Opportunity: ranks 39th
• Growth Opportunity: ranks 55th

Bozeman is one of America’s coolest cities, but with few brokerages (only 276) and 2.6 agents per 1,000 people (ranking 53rd), employment is hard to come by, and competition is fierce. While home prices are high ($850,000, ranking seventh), available inventory is awful (ranks 58th). Properties seem to languish on the market; the median is 94 days, putting Bozeman at 63rd. When you pair those rankings with slower population (.88%) and job (1.6%) growth, Bozeman is dead last in our top cities for our real estate agents data dive. My guess? They don’t mind this ranking one bit; keep Bozeman as “big sky country.” 

Full Data & Methodology for Best Cities for Real Estate Agents Data

The full data can be viewed by clicking here, but read our breakdown and methodology below.

Our proprietary tool collated and analyzed data sets from numerous verified sources, ranking each city. We started by dividing all of the data into three categories and then gave each category an equal weight of 33.3%: 

• Agent Employment Opportunity 
• Agent Commission Opportunity
• Location Growth Opportunity

Our ranking system ensured objectivity and resulted in a score for each city. We first chose cities based on those with more than 1,000 establishments. For states whose cities did not have over 1,000 establishments, we used the city with the highest number of real estate establishments, so we had one city from each state that had below 1,000 establishments. 

All the data collected comes from verified sources: the US Census Bureau, Census Business Builder, US Bureau of Labor Statistics, Realtor.com, the Federal Reserve Bank of St. Louis, Zillow.com, and Macrotrends. 

Click the tabs below to dive into the individual data and sites:

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Bringing It All Together

Undoubtedly, a lot goes into what makes the best real estate cities. But for this study, we let the numbers do the talking. While we think there’s a lot of room for improvement (Nashville, get those wages up!), we’re really encouraged by the positive signs of growth and potential in these markets overall. 

Now, get in whatever city best suits you and your business, and do what you do. We’re here to support you every step of the way.

The post The 10 Best Cities for Real Estate Agents (+5 Worst) in 2024 appeared first on The Close.

Why Building Client Relationships Is Important

In real estate, the relationships between the professional and the client are crucial to growing a successful business. Developing and maintaining client relationships helps agents:

• Fill their sales funnel 
• Convert leads to clients 
• Ensure former clients become repeat clients
• Make sure clients refer you to others

Other than doing actual real estate (and paying taxes), client relationship management is the most important part of your job. The big question is how to do it well. You might know how to network, and you are pretty good at getting leads and nurturing them, but how do you build client relationships that are lasting and unshakable? It takes time, it takes strategy, and, above all, it takes a genuine desire to serve your clients with respect and care. 

How to Build Client Relationships: Our Top Five Tips

These five crucial tips will help you drive your business forward as you focus on building (and maintaining) client relationships. 

1. Get to Know Your Client

This is the first step and perhaps the most essential one. How can you build client relationships if you don’t really know your client? It’s crucial to understand your client’s needs, challenges, preferences, and personalities so that you can exceed their expectations. Here are some questions to ask yourself about your clients that will go a long way in helping you build a solid foundation for your professional relationship. 

• What is your client’s preferred method of communication?
• How frequently does your client want to hear from you?
• What is their style (formal or more informal)?
• What are their real estate needs?
• Are their expectations aligned with their finances?
• How can you best guide them?
• Do they have other considerations (pets, kids, aging parents)?
• What are their long- and short-term goals?
• What are your clients’ values? 
• How can you build trust with your clients? 

Getting to know your buyers and sellers is the first step in serving them as a real estate agent and establishing a long-term client relationship.  

2. Provide Unparalleled Customer Service

You can’t control the market, the inventory, or the interest rates. You can’t ensure your client’s mortgage approval matches their dreams. You certainly can’t control their emotions or frustrations. Really, the only thing you can control is … you. You can provide excellent customer service no matter what the circumstances might be. 

Good customer service is: 

• Doing what you say you’ll do 
• Answering calls 
• Responding to texts and emails promptly
• Offering helpful information and advice 
• Handholding 
• Listening 
• Being empathetic
• Being honest
• Anticipating needs
• Understanding challenges
• Offering solutions

The difference between good customer service and the best customer service of any other agent in the area is how you make your clients feel. Do they feel like the most important part of your business? Do they feel listened to and understood? Do they feel respected? If your clients feel this way, you’re well ahead of your competition in creating lasting client relationships. 

3. Keep Communication Lines Open

I know an agent who calls every contact on her phone once a quarter. She’ll go on a long walk and check in with former clients, old friends, and cool and warm leads, which is an excellent strategy for building client relationships. Being in touch is a chance to open the door to business and keep tabs on what’s happening in people’s lives. You never know when a casual chat leads to a conversation about a possible job change or a baby on the way, which might mean a new real estate need. 

Here are my top tips for successful communication in client relationship building:

• Create a cadence for your contacts that makes sense: It might not be the same for everyone—some might need more touchpoints than others. But with all the sophisticated CRMs, it should be easy to set custom automations for your many contacts. 
• Make communication personal: Use their name and personalize your outreach for each contact. Is there anything worse than getting an email that says, “Dear {first name, last name}, I was just thinking about you!”?
• Keep communications clean and clear: Be sure you’re editing and looking for typos, as any communication you send out reflects you and your brand. Not sure what to say or don’t have the time to write? Try out ChatGPT or other artificial intelligence (AI) writing tools. Be sure to take out any fluff and remain professional and warm. 

4. Be Present on Social Media

I would argue that social media is as important as being present in person. Plus, it’s a way to make yourself available, connected to clients, and show off your professional bona fides—all in one place. It can also give you a chance to post about your personal life so that clients think of you as a friend, not just a professional. But, while you post photos of listings, congratulate new owners on closing day and offer tips for living in your farm area, don’t forget to interact with your audience.

Most agents focus on creating content for social media, which is undoubtedly important. But when you focus on how to build client relationships, you need to engage with your contacts. That means:

• Liking and commenting on their posts. 
• Updating your CRM to reflect their big announcements, e.g., new babies, new jobs, vacations. These are all great things to ask about when you reach out. 
• Offering testimonials on LinkedIn. 
• Reviews of their businesses. 
• Even engage with them in a Facebook group about your town’s history. 

It’s all about creating that sense of community, trust, and loyalty. 

5. Build Trust With Expertise

When you’re thinking about how to build relationships with clients, the word trust should be at the top of your mind. The best way to build trust is to show that you’re the expert. You know your market, community, and clients, so you’re the best one who can guide them through real estate’s tough ins and outs and make their dreams come true. Honesty and expertise are the keys to establishing that you are the expert. 

Ways to demonstrate your expertise and build trust when building client relationships: 

• Send relevant property searches
• Offer market reports
• Prepare comparative market analyses (CMAs)
• Educate yourself on every property
• Prepare your clients for the selling/buying process
• Provide referrals
• Be able to speak about the neighborhood
• Stay up to date on zoning and development plans
• Line up necessary appointments
• Send print mail that offers value and shows you as a local expert (e.g., local high school basketball schedule or a holiday recipe)
• Remain honest and work with integrity at all times

Essential Tools for Relationship Marketing

The good news is that client relationship marketing and management is highly cost-effective. It costs my agent friend nothing to call all her contacts except time and a phone plan. However, an excellent CRM is the most valuable tool in the agent’s arsenal. A stellar CRM is one that you’ll use, as they say. 

We’ve rounded up our top CRMs and our favorite free CRMs (click these links to check them out for yourself!). We value CRMs that make communications easy to personalize, make it possible to keep detailed notes on your contacts, and even allow you to interact with clients on social media through the platform.

Bringing It All Together

When you’re thinking about how to build relationships with clients, I bet you already do many of the things required. But these tips will help you elevate your networking and nurturing game to build meaningful client relationships that will last a lifetime. Creating a real estate business ensures clients like, trust, and value you. A big part of that client relationship is your clients knowing that you like, trust, and value them right back.

The post Building Client Relationships: A Complete Guide for Agents appeared first on The Close.

1. ‘You Have Horrible Taste’

Your seller has taxidermied every cat he has ever owned and placed them around the house. You’re encouraging him to remove the dead animals and stage the home more neutrally. However, your seller is standing firm. How about just one taxidermied cat, you suggest? Nope. It’s all 45 or no house. Your blood pressure is rising, 90 glass cat eyes are staring at you, and you want to shout, “You have horrible taste! No one will buy a house looking like this!” But you don’t. You’re a professional. 

Every agent has had sellers who think their decor choices epitomize style and design. They resist all calls to declutter and repaint the neon green and orange bathroom before a house viewing and maybe pull up the maroon shag carpet while they’re in there.

We can all agree that taste is very personal and that many looks are acceptable in the broad spectrum of design. However, as an agent, you know that staging a home will appeal to more buyers and command a higher dollar. But, as much as you’d like to, you can’t tell them that they have horrible taste. 

Say This Instead

You have a beautiful collection of stuffed cats. It is so meaningful and important to you. However, we might have potential buyers who are allergic or may miss their dear departed cats. They will spend the whole time looking at your cats, thinking about their cats, not your lovely property. Let me show you some simple things we can do to stage your home that might even bring a higher sales price! 

2. ‘Let’s Base the Listing Price on the Zestimate’

I’ll be the first to say that Zestimates are getting better, but they still create a lot of confusion and false hope for sellers. We have a whole article explaining what a Zestimate is and how (and why) it’s often wrong. Briefly: a Zestimate is not an appraisal—it’s a number created by a sophisticated algorithm.

If the home needs repairs, sellers might be pondering the question, “What not to tell your realtor when selling,” so ask additional questions about the home’s condition and explain why disclosing all material defects is mandatory. All that you learn—all of these little details—are part of your pricing strategy but not part of the Zestimate. 

But it’s especially challenging for agents listing a home when the seller is married to the Zestimate. Even if you think the Zestimate isn’t that far off, you want to ensure your clients understand your value and that your experience and local market knowledge make you the right person to sell their home. The last thing you want to say is, sure, let’s base the listing price on the Zestimate. 

Say This Instead

Explain how Zillow comes up with its numbers, but use your comparative market analysis to justify your price point. You’re the local expert and the one who can explain why a higher or lower price will get top dollar in your local market. You will win them over with correct data and a persuasive point of view. 

3. ‘Call Me Anytime, 24/7’

Frankly, you should be open and available to your clients. It’s a big part of what agents do. However, you don’t need to suggest that clients can call you any time of the night or day. Either it’s a false promise, and you’ve set up unrealistic expectations that will lead to frustrations—or it’s a genuine offer, and you haven’t slept in four years. Either way, it’s not great. 

You are a busy agent and a crucial part of one of the most important financial decisions in people’s lives. But you might also have a family, a pet, or other clients, or at least someone who has to eat. You can’t promise to be on call 24/7 and survive. 

Say This Instead

You can commit to top-tier customer service. You can promise to return all emails and texts within one business day. You can pledge to monitor messages and respond promptly and regularly. You can also introduce your clients to a fellow team member or assistant who can step in if you are unavailable. You can deliver the best customer service in your area in many ways without sleeping with your phone. 

4. ‘I Only Make Money if You Buy a House’

This is a hidden thing you should never say as a real estate agent. While you might love real estate, you still have to get paid, and it can be tricky how to explain it to clients. When you say you get paid if and when they buy a house, your buyers will feel all kinds of pressure. 

Sure, it’s true, but as the recent commission lawsuits demonstrate, there is a lot of confusion about how agents are paid and what they’re worth. Agents have a real opportunity to explain their value. As an agent, you serve many roles in helping someone find their dream home, and this is your chance to lay them all out.

Say This Instead 

If asked how you make money, be careful not to answer by assigning any responsibility to your clients. Rather, point to the many services you provide. Make sure they understand commission but do so in a way that ensures they never feel like they are responsible for you keeping your lights on at home. Even if they are.

5. ‘Your Dream Home Doesn’t Exist’

Generally, everyone compromises when buying property. But don’t just say outright to your clients—your dream home doesn’t exist. Don’t dash their hopes and dreams on the sharp rocks of your dozens of years of cynicism experience. 

Buyers are confused by the current market, afraid of interest rates, and generally set up to have out-sized expectations. These folks have been out there for years watching HGTV, with buyers rejecting homes with ugly not-granite countertops on House Hunters and remodeling $130,000 homes into farmhouse-style palaces. It’s not their fault. 

Say This Instead

I understand that these not-granite countertops make you want to gouge your eyes out with pruning shears, but countertops are replaceable and are easier and cheaper than you think. Let’s look at some cosmetic changes that can make this house (the one that checks every other box) your dream home. 

6. ‘You’re Delusional’

I’m guessing you may have said this in your head many times to different clients about different issues. After all, any time you work with people, there will be a time when there’s a difference of opinion. For example, agents might want to call a client delusional when they submit a low-ball offer.

They say, “I know it’s listed at $380,000,” they say, “but let’s go in at $290,000 and just see what happens.” You’ll be tempted to respond, “You’re delusional.”

Say This Instead

Instead of questioning their ability to reason, you’ve got to lean on your numbers and their emotions. Explain how the comps make the listing price pretty accurate. While there might be room for negotiation, a basement-level low offer will sour the relationship from the outset. The sellers might not even counter, cutting off further opportunities for negotiation. In a seller’s market, those lowballs aren’t going to get it done (highest and best should be the order of the day). Try to suss out if they really want the home, and if so, how badly. And is it worth making a realistic offer to get it? 

Bringing It All Together

Unfortunately (fortunately?), there are things you should not say as an agent when working with clients to sell or buy a house. Imagine a home viewing with all the stuffed cats. That’s the exact time you might want to tell a client that they have horrible taste (the “you’re delusional” also works). But you can’t. And you don’t. Because you know what to say instead. The result is an exercise in diplomacy and persuasion—and potentially, a decluttered, staged home ready to sell. That’s why you’re the best in the business, and at The Close, we’re here to help you along the way.

The post What Should You Not Say When Selling a House: An Agent’s Guide appeared first on The Close.

What Is Experiential Marketing in Real Estate?

The definition of experiential marketing is pretty straightforward: It’s a unique, memorable in-person or virtual event designed to build brand awareness and loyalty and then promoted across marketing channels. Sometimes called engagement or participation marketing, it’s all about bringing your clients and community along with you. 

The Benefits of Experiential Marketing

Experiential real estate marketing allows agents to connect with their target audience in a non-salesy way. The benefits of a well-executed experiential marketing campaign are clear: 

• A campaign brings not only brand awareness but also brand affinity. You’re creating a whole feeling around who you are as an agent. 
• Experiential marketing establishes affinity and loyalty to your brand.
• It provides a tremendous opportunity to create content that agents can utilize across marketing channels. 
• Campaigns are an excellent way to generate leads. 
• It gives agents a chance to connect with would-be clients and understand their needs and concerns.
• It offers a better understanding of a targeted demographic, which is valuable in broader marketing efforts. 
• Experiential marketing dovetails nicely with showcasing properties and hosting community events. 
• Harnessing technology like artificial intelligence and virtual reality can be a powerful experiential marketing tool that can be helpful in other facets of your business.

How to Execute an Experiential Marketing Campaign

Establishing an experiential marketing campaign for real estate is the same as any other marketing campaign. You must take the proper steps to ensure it’s worth your time, effort, and expense.

Experiential Marketing & Social Media

Synergizing your in-person experience online through social media will make your marketing campaign skyrocket. Consider this advice from our in-house marketing and social media expert Kaydi Rainey:

Social Media Tips:

• Select your channels appropriately—is your event full of beautiful scenes and people? You’ll want to use Instagram, Pinterest, and Facebook, which are more visual. A more cutting-edge event might be a better fit for X (Twitter, formerly), 
• We love seeing behind-the-scenes content as you prepare for your event—it makes your audience feel like they are a part of your journey.
• Use hashtags that will connect your relevant content to a new audience. 
• Use quotes from speeches during your event and repurpose them as simple content for a story or reel.
• Video content is a must for most experiential real estate marketing events—even if you use short clips and string them together, it’s sure to make an impact. 
• Like, comment, and share on social media; engage with your audience as it helps build community. 

Experiential Real Estate Marketing Examples 

Example 1: Partner With a Luxury Brand—Bringing Scotland to the Upper West Side

A team at Douglas Elliman hosted an event with The Macallan, a renowned Scottish distillery, at a luxury property in the Upper West Side. To make this an unforgettable experience, they transformed one of the mansion’s sitting rooms into a recreation of the Easter Elchies House on the Macallan estate in Speyside, Scotland. The catered event offered a virtual reality tour of the Scottish distillery, a social media-friendly backdrop, and, of course, whiskey tastings. 

This excellent experiential marketing event accomplished three things: 

• The event implicitly implies that the property is “luxury” by equating it with a luxury beverage brand. 
• The brokerage brand appeared synonymous with good taste and good times.
• It was shared widely on social media, extending the reach of the actual in-person event and making the guests virtual ambassadors for Douglas Elliman, The Macallan, and the property.

When promoting a luxury property, you want to ensure the world recognizes your luxury brand. One of our top picks for website builders does just that. Luxury Presence creates stylish, lead gen-optimized sites and the marketing collateral to support them. When establishing and maintaining a luxury brand, there’s no better option than Luxury Presence. 

Example 2: The Intimate Supper Club—Calling All Influencers

When brainstorming experiential marketing, ensuring the event matches the location is crucial. Take, for example, the Social Influencer Supper Club, hosted by Halstead agents Katie Thurber and Sean McPeak. Their listing was more of a family home than a decadent party palace, which made a smaller, intimate event a natural fit. Interestingly, they skipped the broker invites and included social media influencers from real estate, wellness, fitness, and food. By doing so, their curated guest list exposed their brand to a much wider world of luxury influencers. 

Their supper club event accomplished three major goals:

• It exposed the property (and their brand) to potentially 5,000,000 unique followers on social media.
• While a small event, it strategically leveraged the guest list for a substantial return on investment (ROI).
• It created a sense of exclusivity, perfect for a luxury real estate brand.

Example 3: The Steinway Suite—Playing for Their Supper

Like the Macallan event, many of the best real estate experiential events are cross-over promotions. The idea is that both brands will benefit from the exposure and the proximity to another valued brand. Compass Development decided to help bring their model units to life with the help of Steinway Pianos. Eager to get their high-end instruments in front of homebuyers, Steinway offered one of their top-of-the-line Spirio player pianos (and a concert pianist to play it) at the property’s launch party—a classic win-win. 

Much like the other examples, this campaign started with a partnership and ended at the closing table:

• It gave both the developer and Steinway a chance to show off.
• It left the guests with a sense of connection between high-end, classic brands.
• The guests wouldn’t easily forget what was essentially a private concert.

Example 4: A Los Angeles First—An Open House for the Dogs

Creativity and not a huge budget make the best experiential marketing. Beverly Hills Realtors and the Aaron Kirman Group hosted a pet-themed open house at a local animal shelter that helped spread the word about needy pets. As guests mingled with pets up for adoption, it was easy for them to envision their life in the property for sale. 

While this event lacked some of the over-the-topness of the other events, it did accomplish these things: 

• Linked the brokerage/group’s brand with altruism in the guests’ minds.
• Provided benefits to the community.
• Created a memorable experience while staying budget-conscious. 

Example 5: Holiday Tour of Homes—Brings the Cheer

Kiawah River Homes hosted a holiday tour with plenty to drink, food from local celebrity chefs, and sparkling music. Guests were inundated with holiday cheer as they visited the many different houses and perhaps the desire to buy a new home. The event was experiential (not just a typical open house) because it took everything to the next level, including sights, sounds, tastes, and smells. Every time the holidays roll around, those who went on the tour of homes remember the warm, fuzzy, festive feelings from the Kiawah River. 

The event was successful because it:

• Utilized all senses (see holiday decor, smell and taste wonderful food, and hear festive tunes).
• Leveraged local chefs, helping to build their local bona fide status with the community.
• Offered guests a chance to visualize themselves in a new home already decorated, tapping into our collective desire for happy, warm, memorable holidays. 
• It was expensive, but their marketing is cohesive and top-notch, so it contributed to brand affinity and loyalty. 

If you’re planning a home tour and need help promoting your event, take a look at Coffee & Contracts. It offers hundreds of ready-to-edit social media templates, especially holiday-themed ones, perfect for promoting experiential real estate marketing.

Example 6: Augmented Reality—A Portal to Another World

While this was an extreme example of how someone can use augmented reality (AR) in experiential marketing, I couldn’t help but include it as a harbinger of what might come. I love how this marketing stunt seems to transport people into this apartment, and they are wowed. While using AR in everyday events might still be a way off, it’s fascinating to think of how artificial intelligence (AI) and AR can skyrocket experiential marketing, especially in real estate.

This type of experience works for these reasons:

• It’s unexpected and bends our understanding of reality in a way that is certainly memorable.
• It conveys innovation and forward thinking.
• Potential buyers are not just impressed by the marketing but have a chance actually to experience the apartment.

Experiential Marketing FAQs

What do you mean by experiential marketing?

What are examples of experiential products?

What is an example of experiential relationship marketing?

Bringing It All Together 

At the end of the day, experiential marketing is straightforward, and I bet you’re already doing it. Agents have always been good at creating memorable in-person (or virtual) experiences that wow. In today’s world, leveraging social media makes your marketing efforts even more impactful. It’s a strategy that takes a little imagination and creativity, but the return on investment can be truly exceptional.

The post The Agent’s Guide to Experiential Real Estate Marketing appeared first on The Close.

1. Make Networking a Lifestyle

I don’t mean networking in a hollow, handing-out-business-cards-at-your-kid’s-baseball-game kind of way. When you network, your goal is to always be on the lookout for ways to make a connection with someone. If done thoughtfully, your kid’s baseball game is actually a great place to network, especially if you’re just looking for that first handshake. 

Getting to know the team parents, coaches, and team sponsors is just extending your sphere of influence. You don’t have to saddle up next to the pitcher’s mom with a new listing flier. Instead, use these opportunities to organically ensure that people know your business and that you’re always available to help. This extends to every area of life: book clubs, parent-teacher organizations, pickleball teams, alumni and neighborhood groups, happy hours, and the ever-classic networking activity, golf. 

2. Look for Ways to Help

As a real estate professional with specialized training and tons of experience, you are one of the most informed people in the room. You know about schools, development projects, zoning, design trends, pricing, interest rates, and hot new restaurants. You know tons of people and are good at connecting them. You understand your community’s history and can predict its future, probably better than most. 

That puts you in a unique position to be helpful. So think of “networking” as looking to offer help to someone else. This could mean offering to write recommendations and reviews, carry groceries, host informational meetings with young people in their career search, volunteer at local schools, sponsor teams, serve on nonprofit boards, or plan community events. 

In Charleston we deal with flooding, and there are plenty of opportunities to serve the community in flood mitigation planning. These boards attract plenty of agents who are eager to improve their community with their real-estate-specific perspective. Not only does offering to help demonstrate your abilities, skills, experience, and generosity, but it also builds loyalty and puts goodness out there that is sure to circle back. 

3. Be Prepared

If you treat every interaction as an opportunity to meet, connect, and be helpful, you must always stay ready with your elevator pitch. You might even need several versions of it—one for a kid’s sports event, one for a luxury real estate conference, and one for when you’re in line at the grocery store. 

Make sure you can explain not only your work but also what unique value you bring. Your pitch should include what sets you apart and what special skills and experience you offer. Bonus points for practicing pitches with friends, family, fellow agents, and in front of the mirror. Here’s an example elevator pitch:

copy to clipboard

I’m a Charleston real estate agent with seven years of experience. I specialize in selling historic homes in the South of Broad neighborhood, but I’m best known for my commitment to my clients. They appreciate that I’m always available for help or questions, my attention to detail, and my local expertise.

4. Set Networking Expectations

Chances are you’re not going to sell a home today to someone you met at the grocery store this morning. But let’s say you add that person to your email list, and they start to receive your monthly newsletters. Then, a year later, they want a new home and give you a call. Fantastic. But not every person you meet will become a client, and you can’t go into every single interaction expecting it to turn into a deal. 

Often, sitting down with your target demographic through networking leads to a better understanding of their needs, concerns, and experiences. Sometimes, reviewing your target demographic will lead to learning about something new: a new housing development, skill, or technology. The key to successful real estate networking is understanding that as you network and your sphere expands, so do the opportunities. 

5. Actually Listen

We’ve all met that person who asks a question and then immediately loses focus while you answer—their eyes stray and scan the room, looking for someone more important to talk to. Don’t be that person. When you ask a question, listen to the answer. Yes, it’s good manners, but it’s also important for successful networking in real estate. You never know what a casual conversation could lead to, and if someone drops a hint that they have a real estate need, you want to be right there to pick it up. 

6. Think of Good Questions

It’s easy to zone out if you ask boring questions. Remind yourself of what you’re trying to accomplish by making these connections, and then ensure your questions get to the heart of what you need. Instead of asking a potential lead, “What do you do?” ask, “What do you think has been the secret to your success?” Imagine what their answer will reveal. You’ll immediately get insight into their experience, but more importantly, their values. It’s the kind of information that could be invaluable if you eventually deliver a listing presentation.

Of course, it depends on the networking situation, but here are some questions that go beyond the basics: 

• How do you spend your time? 
• What do you like to do for fun?
• Have you had positive or negative experiences with Realtors?
• What’s the greatest lesson you’ve ever learned?
• What’s something you’ve done that I should do?
• How can someone like me provide value to you?

7. Ask for Help 

While we’re often in a position to offer help, sometimes we’re the ones in need, and it can be hard to ask. The secret to keep in mind is that people actually like being asked to help—they like to feel like they can be of service to others (just like you do when practicing tip No. 2). 

Just be sure that when you do ask for help, you’re very clear about what you need. You might be asking for an introduction to a big-time developer or need the name of a new mortgage broker. You might be asking for a review from a client or a referral to a friend or family member. You might not always get what you want, but there’s no harm in asking.  

8. Take Notes

As you’re chatting with someone, you’ll probably learn a lot about them: their interests, their career path, and their kid’s baseball record. While we think we’ll remember all the little details, we probably won’t. Keep careful notes (ideally in your customer relationship manager) so that when you reach out in the future, you can check to see how things are going—did little Timmy win that tournament? It helps to be thoughtful and engaged. Like Michael Scott’s Rolodex in The Office, those little nuggets of personal detail can help turn a warm lead into a signed client.

9. Follow Up

When agents ask how to network as a real estate agent, this step is crucial but often overlooked. For networking to be effective, you have to follow up. The follow-up cadence can vary based on the relationship, but if you meet someone once and never send an email or text again, you’ve wasted your time. Use your customer relationship manager (CRM) to set up an alert, check the notes you took after your last meeting, and send a message. You don’t have to write a novel and you don’t have to write too often (it could even be as simple as reaching out on social media), but make sure those lines of communication stay open.

Of course, the only CRM you’ll use is the one you like. My favorite affordable CRM is Wise Agent. It’s user-friendly and intuitive, and its automations make it easy to manage leads and stay in touch with your networking contacts.

10. Network With Fellow Agents 

Networking isn’t all lead generation and sphere of influence—it’s also about building a real estate agent network within your own industry. Maybe you’re wondering how to network with real estate agents, but even more than that, you’re wondering why. The simple answer is that fellow agents provide a support group (who else understands the torture of a dad following the home inspector around when his daughter is under contract?). 

Fellow agents can also be valuable referral sources, especially if you’re specialized. Not every agent works with first-time homebuyers, but if that’s your jam, other agents you network with can recommend you. Additionally, fellow agents and brokers can offer career opportunities. Perhaps you’re recruiting for your team or interested in joining a new brokerage. Networking helps you keep doors and options open. 

One of our favorite resources for inner-industry networking and referrals is NuOp. It’s an easy way to solicit and receive referrals—and it’s completely free.

11. Network Online

We love in-person networking, but don’t underestimate the value of connecting and maintaining relationships on social media! While LinkedIn is the obvious one—and very important for career networking in real estate—be sure to consider other channels as well. We have several guides to help you make the most of social media platforms and leverage them in your networking. 

1. LinkedIn for real estate agents
2. Ways to drive engagement on Instagram
3. Facebook Pages that bring in leads 
4. Videos perfect for nurturing leads
5. Facebook mastermind groups

Secrets to Real Estate Networking for Introverts 

Real estate networking can actually be really fun. It can also be pretty easy, even for my introverts out there. Remember that networking doesn’t have to be transactional or opportunistic. It’s just about making connections. And you, as an agent, do that every single day. As you think about how you might implement the tips above into your networking approach, try to orient your thinking away from anxiety-inducing, old-school networking and toward a bright new day, where the goal is to simply have a good conversation. The people you meet and network with are going to help you build your business and a successful real estate career. 

If you’re an introvert, we have a few tips specifically for you:

• Focus on smaller groups: Find networking opportunities in one-to-one coffee dates.
• Utilize social media: Liaising online can be just as effective as in-person networking.
• Get a networking buddy: Bring someone along that is easy to be around and will give you confidence.
• Know you can leave: If you need to do a bigger networking event, make a goal for yourself (e.g., meet five new people) and then let yourself go home. 

Where to Network in Person

While I’m a firm believer that every event is a networking event, there are specific opportunities for those wondering how to network as a real estate agent. Here are some of our favorite places and ways to network in person:

• Local realtor association board
• Chamber of Commerce 
• Volunteer opportunities
• Alumni groups
• Real estate conferences
• Host your own events (a first-time homebuyer educational event, for example)
• Join the board of nonprofits you support
• Offer real estate education to local religious organizations 
• Meet regularly with a team of experts related to your industry

The Close writer and real estate coach Trevor James has this advice to offer: 

“Remember your niche. You might have a local LGBTQ Chamber of Commerce or a Women’s Leadership group in town. Get involved with your people. Organize a local food drive or coordinate a community event. Two birds with one stone: develop yourself personally as well as professionally.”

Trevor James, writer and real estate coach, The Close

Bringing It All Together

The most effective way to network as a real estate agent is to make it a lifestyle. Be constantly looking for ways to provide value to others, to ask thoughtful questions, and to connect with members of your community. Networking allows you to give back, offer knowledge, gather information, and expand your sphere of influence. Being friendly and interested in others is the first step, and by far the easiest one.

The post 11 Expert Tips for Real Estate Networking appeared first on The Close.

1. Moving to the Southern States

People are moving to different states more than ever. More specifically, one of the hottest real estate industry trends is people moving to the South. The reasons are simple: strong job markets (plus the ability to work remotely), more space, housing is more affordable, and (typically) one finds a slower pace of life. Storage Cafe did some deep analysis to back up the trend we’re already seeing firsthand in real estate. 

• A record number (8.2 million people) moved across state lines in 2022 (the most recent year for data).
• Texas, Florida, North Carolina, and Georgia are in the top five states where people of all ages relocate. 
• Connecticut is the only state in the top 10 for relocation that’s not in the sun belt.
• Millennials comprise the largest percentage (34%, or 2.8 million people) of interstate moves.
• The average square footage of a home in the south increased in the past five years to an average of 2,608.
• Moving from California to South Carolina, residents could save an average of $430,000 on a home.

This is a real estate trend here to stay. We will continue to see people of all ages move to find a better quality of life. Southern states will continue to attract those looking for more space at affordable prices. As someone in one of those Southern states, I just ask that you stop honking your car horn.

It will be crucial to ramp up lead generation to capitalize on these shifting demographics. That’s where predictive analytics comes in—data that assesses who’s most likely to sell in the next year with stunning accuracy. We round up our favorite predictive analytic companies in our comprehensive guide, but my favorite is SmartZip. Using 24 data points, they can predict who’s ready to sell a home with 72% accuracy.

2. New Builds Will Alleviate Housing Shortages

There’s no question that the real estate market is (and has been) experiencing severe housing shortages. Just one year ago, supply sat at 2.9 months. The National Association of Realtors’ (NAR) data puts current inventory at 3.2 months, after falling 11.5% from the month before. The inventory data tells agents what they already know: there is none. 

But there’s good news on the horizon: the homebuilders of America are coming to the rescue. One of the more exciting real estate industry trends for 2024 is that new home construction is getting back on track. We can trace the roots of the problems we’re encountering today to the housing crisis of 2008. Then, COVID-19 decimated supply chains, and high interest rates made borrowing impractical and expensive. 

• According to Realtor.com, “Builders have been catching up, with construction remaining near pre-pandemic highs for single-family and hitting record levels for multi-family.”
• U.S. Census data also shows that privately owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,495,000. This is 1.9% above the revised November rate and is 6.1% above the December 2022 rate.

But we’re finally seeing some positive progress in the homebuilding data. All signs suggest that building multi- and single-family homes is ramping up, which will help alleviate the inventory crisis. This helpful graph shows construction of both multi- and single-family unit construction from 1970 to today, and it’s clear that we’re on the up and up. 

For agents, putting more people into more houses and widening the path to homeownership is a meaningful part of our community role. It’s crucial to communicate that there is potentially a much healthier real estate market in 2024, and you are the perfect agent to help. If builders are developing a new community, go out there and meet the developer. With time and thoughtful networking, you could be the go-to agent for that developer’s new builds. 

3. Artificial Intelligence (AI) & Augmented Reality (AR)

Of all the trending real estate topics, this is one of the most important to agents. While most of us are still new to these rapidly advancing technologies, it’s clear that AI and AR can positively impact our work. AI is being applied in so many different ways. It’s no wonder it’s one of the top trends in the real estate industry. We’re seeing incredible AI innovation, from crafting marketing scripts and listing copy to virtual staging and lead nurturing. This trend will continue to be one of our favorite hot topics in real estate for 2024. 

AR, or the layering of computer-generated images or audio onto our real world, must be understood and applied. LNG Studios imagines how professionals could use AR in real estate in the not-too-distant future.

One of my favorite AR applications is part of a more significant real estate investment trend. Imagine a situation where multiple stakeholders can look at a property or large development project through AR, analyze the pros and cons in real time, and collectively make decisions.

AI and AR are undoubtedly real estate trends here to stay, not just through 2024 but throughout our lifetimes. It’s time for agents to harness this real estate software technology, and we have the resources, tips, and guides to help you wade into these fast-moving, mighty waters. We promise the water is warm!

4. Utopian Societies 

We’re unsure what to think of this latest real estate trend. One can certainly understand the desire to create a community that conforms to one’s worldview, and Utopian societies are nothing new. But this multifaceted issue raises as many questions as it answers. As a thought project, it’s fascinating. As a practical exercise in real estate, it’s complicated. 

Flannery Associates, a group of Silicon Valley tech moguls, is attempting to create a Utopian 55,000-acre planned community, East Solano. (The founders include Reid Hoffman, co-founder of LinkedIn, and Laurene Powell Jobs, the founder of the Emerson Collective and Steve Jobs’ widow). ​​The dream is to create a community backed by clean energy, sustained by thousands of jobs, with solid public transportation, walkable neighborhoods, plenty of green space, places for kayaking and biking, schools, and shops. They’ve been quietly buying up large parcels of land in a quiet patch of California 60 miles from San Francisco, which has become hotly contested.

While that sounds all well and good, the way this has all played out has raised some serious ethical questions:

• Do the people who already live in Solano want this? 
• Was land purchased from people feeling pressure to sell? 
• And once news of the project got out, did landowners conspire to drive up prices? 

Of course, this isn’t the only attempt to create a Utopian society (there have been many in our nation’s history). Just recently, news broke of a community being built at the other end of the country—another end of the political and cultural spectrum. 

From a real estate perspective, it’s complex and fascinating. Yet the further fracturing our society into neighborhoods based on political ideology is frightening. While this real estate trend might continue, as agents, we should continue to work to bring communities together. 

5. High Home Prices

We’ve been on a wild trajectory for three years, and the housing market has been a hot topic. Are home prices going to fall or continue to rise? If they fall, will it be off a cliff, or will they drop ever so slightly? Just talking about housing prices is a real estate industry trend! 

There’s no question that prices are about as high as we’ve ever seen. DQYDJ has an excellent graph showing the meteoric rise of prices in the past few years:

Our deep data analysis leads us to an optimistic prediction for 2024. We don’t think the market will crash any time soon. But there is potential for a softening of pricing. As mentioned above, new construction is booming, alleviating our inventory stress. The lack of supply has helped to drive prices up and keep them there. But with more houses on the market, prices might dip. That’s good news for buyers. 

We don’t think there will be any massive downward swing. That’s good news for sellers. The current median housing price is $382,600. As the NAR points out, this is the sixth month in a row that there has been a year-over-year price increase. It’s still lower than the absolute median peak we hit in June 2022, which was $413,800. So, there has already been a slight correction, and we forecast median prices will continue to hover around this point throughout 2024. 

As high housing prices remain, agents must be exceptionally nimble. Lead generation should be a priority, so the sales funnel is always full. You’ll need to get creative with your lead gen strategies and use every tool in your arsenal. We think that 2024 will be a busy one for agents.

Bringing It All Together

Let’s face it: 2023 was a doozy. It was slow, challenging, and confusing. We had to deal with pundits announcing that ChatGPT was replacing our jobs and Sitzer I Burnett all in the same year! Our top picks of real estate industry trends promise a much better 2024. If it’s not better, at least it won’t be dull! Now, pop on those AR goggles and imagine moving to South Carolina—just don’t honk at us. 

Predicting any trends we missed?! Take issue with any we’ve identified? Let us know in the comments! 

The post 5 Emerging Real Estate Industry Trends for 2024 appeared first on The Close.

1. No Free Lunch

It’s normal for sellers to be protective of their things. For example, they might ask potential buyers to wear booties to not track mud across their expensive rugs. But one seller wasn’t just protective of her rugs—she wanted to lock the fridge. This story is even more horrific because she wasn’t accusing the buyers of stealing her food—it was the agents! She canceled her listing contract in a huff and demanded a gift card to a local grocery store as payback for the “stolen” food. While we’re on the agent’s side here, who can forget that guy who drank right from the seller’s milk carton?

Lesson Learned: You can be the best agent in the world and still be fired for something you didn’t do or something out of your control. But if you were thinking of stealing food from the fridge, don’t. If you’re fired, it’s OK. Keep your head up and try these high-impact lead-generation ideas! 

2.  Fire Sale Real Estate Horror Stories

I bet this is a familiar story for most of you. An agent takes a cold call and agrees to list a couple’s condo. There might have been some red flags, but only in retrospect. The condo had been completely renovated after a massive fire, and while it was beautiful, it was by far the nicest property in the building. 

Every other comp was at least $50,000 lower than what the couple wanted for their condo. This agent explained the comps carefully and predicted that the most accurate market price would only be about $15,000 over the standard comp. The couple refused to listen. The listing sat on the market and finally expired. While the agent lost the sale, he can sleep well at night knowing that when the fire-damaged-then-remodeled condo did sell, it was right at the price he’d predicted.

Lesson Learned: Check out our step-by-step guides for creating a persuasive listing presentation and an accurate, data-driven comparative market analysis. But remember, even when you do it all perfectly, some people still won’t listen.

3. Fruit Falling Far From the Tree

Every so often, a client will show up with their children. Usually, the kids are well-behaved and glued to a device, but we all have real estate horror stories of kids jumping in the pool or scratching up a pool table. However, for this agent, the children got up to some mischief. As the agent, her clients, and the client’s twins arrived at a luxury property, the mom pointed out a beautiful lime tree. As they were leaving, the twins showed up at the car, having picked every single lime off that tree.

Lesson Learned: Sometimes, you must make limeade from all the limes your client’s kids stole. Just keep saying to yourself, show me the money!

4. Don’t Worry, Dear

One of our Close readers arrived at a listing and accidentally walked in on the seller taking a bath. The older lady barely glanced up and said, “Don’t worry dear, it’s only body parts,” and kept washing away. 

Lesson Learned: Sounds like the homeowner kept her sense of humor and her dignity in what could have been a traumatizing moment. Remember, don’t take everything too seriously, and always knock first.  

5. Call a Locksmith

Most of us have a broken lock or I-can’t-get-this-damn-lockbox-open story, or at least the thought of a lockbox makes us break into a cold sweat. For this poor agent, bad lockbox luck struck him twice—on the same day. He had two condos in the same community and offered to show a group of people both properties. Despite his best efforts and frantic calls to the owner, the first lockbox wouldn’t open with the code. 

After a lengthy period of frustration and embarrassment, he gave up and led the buyers to the second condo. The lock was broken. One can imagine the potential buyers eyeing each other, shuffling their feet. Nothing would open that door except a $325 locksmith with a drill. After what seemed like an eternity, the door was finally opened (by the locksmith). That agent never forgot that day and probably still gets nervous at showings until he hears that sweet click of a lock opening. 

Lesson Learned: Until robots or artificial intelligence (AI) solve this problem for us, a lockbox mishap will happen to everyone at some point. Keep your sense of humor, don’t give up, and call a locksmith if necessary.

6. Hiding in Plain Sight

We all hate it when the seller hangs around during an open house or a showing, shuffling right behind, eavesdropping, or interjecting an opinion. But for one agent, the seller took this a step further. She stayed in the house for showings but hid under the covers of her bed. It wasn’t subtle. It was very strange. When confronted by her listing agent, she always denied it. Talk about a real estate horror story! 

Lesson Learned: An agent who sells a house while the owner hides under the sheets during showings should get an extra martini, a TED talk, or a book deal. We have a lot to learn from this real estate master. 

7. Addicted to Love…& Being Under Contract

We’ve all had clients who can’t commit or waste our time. But this real estate story from Reddit stayed with me. An agent had a client go under contract multiple times, but she would back out right after the home inspection each time. While it’s not unheard of for a buyer to be turned off by a list of repairs, it was starting to be a problem. 

The agent stuck with it, hoping it would all turn into a commission check (plus it was a referral from a great client). It turns out that this client wasn’t shopping for a house at all—she was shopping for a husband. She had a huge crush on the home inspector and would go under contract on a house just to have an excuse to see him. The agent had to fire her when she started calling the inspector at night. The worst part is that the agent assured us that sexually harassing the inspector was the least of her sins. 

Lesson Learned: Looking to date and/or become a home inspector? We’ve got you covered with this step-by-step guide on how to do it. The home inspector part. Not the dating.

8. Nightmare on West Paces Ferry

Glennda Baker is the best at everything: real estate, influencing, motivating, and storytelling. She uses that Atlanta drawl to pull us in and forgive her for everything, including selling her client…the wrong house. I won’t do Glennda a disservice by telling her story when she does it so well, but she did sell her client the wrong house. She describes the nightmare feeling that she might get sent to real estate jail. Spoiler—there’s a happy ending. 

Lesson Learned: We’re all human, and all make mistakes (some more of a nightmare than others). But don’t lose your cool! Negotiate your way to a solution and live to sell houses another day.

9. The Mysterious Case of the Lying Tenants

For anyone who’s managed a property, you know that you can do everything right and still face an unexpected mystery. For this property owner, it was the case of fictitious lead poisoning. She had run the background check and called the previous landlord. The new tenants seemed great. The second month, though, no check appeared. When pressed, the family said that the problem wasn’t their missing rent—it was lead poisoning. 

The tenants claimed that their child had lead poisoning from being in that home for just a few weeks. Now, the woodwork was made of natural wood, so even if there was lead in an old layer of varnish, the property manager knew that kid would have had to eat through it faster than a woodchuck and lick the radiator constantly. The Board of Health agreed. A judge agreed. No lead poisoning—the property owner was in the clear. Turns out these tenants had pulled the same trick before, and their “previous landlord” in the background check was a lying relative. 

Lesson Learned: If you’re a property manager, go to two or three former landlords and verify, verify, verify everything. Also, use an online tenant screening service instead of doing it all yourself! 

A Real Estate Success Story to Scare Away the Horror

There are lots of real estate horror stories about difficult clients—time wasters, jerks, people who don’t understand how money works or that punctuality is important, the people whose kids pick all the limes—but as agents, we try to help them, no matter what. Like doctors with their Hippocratic oath, most agents feel a call to serve. When clients deal with some of the biggest financial decisions and most stressful moments of their lives, real estate agents are there. 

I know so many real estate stories of agents who stepped up when there’s been a death, an elderly person needed help cleaning out their house, or a young couple had to have a babysitter to look at a house. This is one of those real estate success stories:

Lesson Learned: This isn’t a horror story, but it is a real estate story we hear repeatedly—agents working hard to make their communities better and stronger. If you lose motivation after a real estate nightmare, we’ve got you covered. 

Bringing It All Together

Most of the time, our lives as real estate agents are pretty normal. We carry on daily, helping people buy and sell homes and achieve their real estate dreams. But then, one day, when we least expect it, we accidentally walk in on a senior citizen taking a bath. 

Have any real estate stories to tell? Any wild experiences? Send them out as cautionary tales in your marketing materials—and let us hear them in the comments! 

The post 9 Real Estate Horror Stories That Will Make Your Skin Crawl appeared first on The Close.

1. Barbara Corcoran

Is there a better place to start than with the grande dame of real estate? From a $1,000 loan, she built a billion-dollar business and one of the most successful brokerages in the world. She is also responsible for one of my favorite quotes: “You can catch a great attitude from great people.” A brilliant writer, speaker, and mentor, she took Shark Tank to soaring heights and isn’t afraid to share hard truths.

What You’ll Learn From Barbara Corcoran

When it comes to real estate, she encourages agents to shed their fear, to be convinced that they can and will succeed because, well, they have to. One of her greatest gifts is storytelling, and the more you listen to her, the more you become convinced that anything is possible. My favorite video is this interview on Diary of a CEO. She’s tough, funny, and vulnerable, leaving viewers rooting for her and ourselves.

Where to See the Best Real Estate Motivational Speakers

The top real estate speakers are most impactful when seen in person. When the lights dim and the crowd is on their feet, applauding, the energy feels electric, making a speaker’s inspiring words all the more powerful. It’s the difference between watching an epic war drama on your phone and in an IMAX theater. You really believe you were at the Battle of Dunkirk, just like you really believe you are going to set the real estate world alight. 

Real estate keynote speakers excel at showmanship and crafting a message that inspires. Real estate conferences bring in the most impressive speakers, attract top producers, and provide world-class motivational experiences. 

However, other ways exist to see these excellent motivational speakers in action if you can’t attend a conference. (If you haven’t watched Angela Duckworth encourage grit or Simon Sinek ask your “why,” you’re missing out.) The easiest way to access these speakers is through their (usually) free videos and social media. Additionally, you can: 

• Read their books in your free time or in between showings.
• Listen to podcasts on your way to work, while cooking dinner, or on a jog. 
• Check out their helpful blogs.
• Join their mastermind Facebook groups.

3 Steps to Becoming a Real Estate Speaker

Each of these real estate motivational speakers started just like you: agents who felt like they had more to give. Being a motivational speaker takes guts and the ability to light up a room, but most importantly, it requires a desire to help others. Ricky Carruth, for example, acknowledges that there are other real estate coaches out there, but he says, “No one loves y’all (real estate agents) more than me.” 

Follow these three steps to brainstorm your start as a real estate motivational speaker: 

1. Once you have tapped into that desire to help others, you must work on your messaging. What do you have that’s unique? What story can you tell that will inspire others? How can you provide hope and guidance? What is your value proposition? 
2. Next, it’s time to put your message out into the world. Start simply with social media. Short-form videos with bite-sized messages are a great way to start and build up to longer videos. Publish on LinkedIn, do interviews, write blog posts, comment and post on social media, offer a class—do whatever you can to start getting the word out that you have something to say. 
3. The key here is consistency. You can’t just toss out six videos and be frustrated that you’re not a phenomenon. Your success isn’t going to come overnight, but if you start with the goal of helping one person, then two, then a dozen, slowly and patiently, you can build an empire. 

Being a motivational speaker is a lot like being a real estate agent. You must be patient, brave, consistent, believe in yourself, not give up, and care about helping others. 

Bringing It All Together

While each real estate motivational speaker has their style and way of delivering their message, they all say the same thing: Don’t give up, don’t be afraid, work hard, and be yourself. If you can do this, there is no limit to your potential and success. 

Have a favorite real estate speaker? Seen some on our list firsthand? Let us hear from you in the comments!

The post The 12 Best Real Estate Motivational Speakers for 2024 appeared first on The Close.

1. Rich, Warm Colors

The clinical whites and cold, boring, pale grays of the past five years are out, and a warm color palette is in. Buyers are looking for comfortable and nurturing spaces—where they can recharge and rejuvenate. Designers are seeing recent interior design trends bringing in natural creams, taupes, browns, and khaki. Deep, calming grays, blues, and greens are also trending. 

Before you question whether paint colors can actually affect the sales price of a home, Zillow has done the research for us. In a recent study, paint color meant the difference in thousands of dollars in a home’s final sale price. The data is clear: homes with richer, warmer colors on their walls are getting higher prices. 

• Kitchens painted a luxurious “charcoal gray” increased the price by $2,512.
• A “pewter gray” increased it by $2,553. 
• The same is true in living rooms and bedrooms, where deep tones increased the price by $1,800. 
• In contrast, buyers paid $600 less for a stark white kitchen. 

How to Advise Sellers

• Agents should advise sellers to walk the line of keeping the palette neutral so that it appeals to a broad swath of people but also using a color scheme that is warm, radiant, and rich. 
• Before your sellers paint, suggest using a color visualizer tool. Several high-end artificial intelligence (AI) products are for sale, but the free Sherwin-Williams tool is a great option to see how a color will look in a particular space.

2. Tell a Story as an Interior Design Trend

The conventional wisdom is that sellers should pare down anything personal so buyers can visualize themselves in a home. However, the current interior design trend is for your home to tell your story. The days of boring and sterile are out; creative and captivating are in. You don’t have to use neutrals when your life story is anything but bland! Use color, decorate with unique objects and books, focus on an overall theme, and, like in the photo above, don’t be afraid of bold light fixtures. 

• Homeowners are making more personal design choices, especially when it comes to appliances, lighting fixtures, tilework, and built-ins. 
• Buyers might need help visualizing changes if the choices are too bold. A tool like Redfin Redesign can help buyers see past paint colors and flooring and see a room as it could be. 

How to Advise Sellers

• Sellers should continue to pare down the personal photographs and clear out the clutter (buyers might want a story, but not the story that your kids play hockey). 
• Sellers who want to follow interior decorating trends should do it, but pick just a few statement choices. For example, a French-inspired range that recalls their recent trip to Europe is a great way to express this current design trend. But be careful not to go overboard with overly unique personal taste. 
• Remind sellers that if they install a light fixture or draperies, these items will be conveyed with the property. If the seller wants to take that French range with them, it must be clear and in writing to buyers from the outset that it’s not part of the sale price.

3. Let Sustainability Guide Your Choices

We’re all looking for ways to reduce our environmental impact, and the latest trends in interior design help us do just that. If a property has gorgeous wood floors, imagine explaining that they are beautiful and made from highly sustainable bamboo. Buyers appreciate form, function, and good stewardship of the earth. 

• Building materials are a great start: consider bamboo, cork, concrete, and trendy hempcrete. 
• We also love seeing recycled plastics, steel, and reclaimed wood used creatively.
• Don’t forget big-ticket items, such as solar panels, geothermal heating and cooling systems, and efficient windows. 
• We’re seeing seaweed have a moment—entire homes are being built out of seaweed. 

How to Advise Sellers

• Sellers should research before installing these more expensive features. Solar panels, for example, are not allowed in certain communities, and leases can be challenging to transfer.
• If a homeowner likes the aesthetic of some of these recent house trends, they should go for it. The advantage of sustainable materials is that they are beautiful alternatives to conventional ones and can even positively impact our planet.

4. Bring the Natural World Inside

Being en vogue is not just using sustainable materials but also celebrating the natural world. New interior design trends are all about bringing nature inside. In fact, plants are more than just a trend; they can actually help sell a house. The natural greenery splashes make a space feel inviting, cozy, and livable—and even inspire buyers to picture themselves (and their plants) right at home. How are designers capitalizing on this interior design trend? 

• Big windows that let in lots of natural light.
• Plenty of potted plants and flowers.
• Using colors and wallpaper inspired by nature (think big florals and botanical prints).

How to Advise Sellers

• Use potted plants for staging, but strategically. Buyers don’t want to navigate through a jungle. 
• If a plant dies, get rid of it. No dead plants are allowed in showings. 
• Remind sellers that nature-inspired wallpaper might be beautiful (and trendy), but if buyers don’t love the print, they think about all the work and mess it will take to remove it. Consider a peel-and-stick wallpaper. It gives you that wow factor but can be easily removed if the buyers are wowed in the wrong way.

5. Make Your Home Smarter

We’re excited to see all of the ways tech is making our lives easier and our homes more functional in 2024. Smart home technology is so widely adopted that buyers expect homes to have some basic tools. Here are our favorite new “must-have” developments for smart homes:

• Touchless devices (doorbells, faucets, dispensers, thermostats) that reduce the need to touch germy surfaces.
• AI functionality through Alexa and Siri can turn on lights, play music, lock doors, raise and lower shades, arm your security system, and even start your coffee pot. (Siri still can’t sell houses, don’t worry.)
• Water and air filtration systems that help homeowners feel healthiest by breathing the cleanest air and drinking the purest water. 

How to Advise Sellers

• When considering whether a piece of technology will increase a home’s value, sellers should ask themselves if it increases safety, adds convenience, provides efficiency that leads to savings, and whether it will convey with the home.
• Marketing a property as being “smart” means calling attention to the details. Some of the cleverest uses of technology are seamlessly integrated into the home’s fabric. Ensure you are pointing out all of the examples of tech at work in the listing description, at the open house, and to potential buyers at showings.
• At the closing table, sellers must turn over all their keys, including the virtual ones. All codes and passwords must be reset and given to the new homeowners.

6. Create a Home Centered on Wellness

Buyers don’t just want a house—they want a home where they can live their best lives. A house that prioritizes wellness has authentic spaces and brings the natural world in. Homesellers can further appeal to this interior design trend by: 

• Offering flex spaces that could work as an office—or a yoga studio.
• Making bathrooms a calming sanctuary with soaking tubs and natural light.
• Having plenty of storage for a calm, organized space.
• Incorporating spa elements like ice baths, steam showers, and saunas.

How to Advise Agents

• Sellers shouldn’t splash out for some spa-like elements if they won’t use them. They are an investment in health but also a real financial investment.
• Be sure to market these elements in a home and incorporate them into the listing description. If a property is a place of calm and space for wellness, make sure that’s the focus.

7. Ways to Incorporate 2024 Design Trends

What if your listing isn’t en vogue but you still want to capitalize on 2024’s interior design trends? The answer is simple, easy, and inexpensive: virtual home staging. The image of a staged bedroom above via Rooomy shows how easy it is to incorporate new interior trends into your staging. 

• We have a complete guide to virtual staging, including providers we recommend, best practices, and a complete cost breakdown. We are also excited about some new providers that brilliantly utilize AI. 

• If virtual staging isn’t your cup of tea, check out our ultimate staging guide, including a DIY shopping list. Invest in some trendy items, and you can deck out each of your listings throughout 2024. 
• Regardless of the type of home you’re selling, there are plenty of ways to make these trends work for your marketing, your listing photos, and, ultimately, the buyers. 

Bringing It All Together

Interior design trends come and go. Some (bouclé?) are probably already on their way out. But the trends in our 2024 round-up go a long way in making a property more attractive to buyers, more marketable, and possibly even more valuable. I would never advise a seller to chase a trend, but if they want to paint before listing, a rich charcoal gray is a color to choose!  

Seeing any other trends out there? Any predictions for 2024? What are buyers looking for, and how are sellers adapting? Let us know in the comments! 

The post 7 Interior Design Trends Ready to Take Over 2024 appeared first on The Close.

Real Estate Agent Salary Defined

While we do use the term salaries, agents are typically independent contractors. So, a real estate salary is really your gross commission income (GCI), or how much you take home through your real estate transaction commissions.  Remember, these are averages (and before taxes because, with effort and time, there is no limit to your take-home pay).

And the top six states might just surprise you! Check it out while we pack our bags and move to Kansas.

How Much Do Real Estate Agents Make in My State?

A note on the methodology behind The Close’s proprietary real estate agent salary information: Our salary database is supported by data from numerous sources, including Indeed, ZipRecruiter, Salary.com, Glassdoor, and the National Association of Realtors (NAR). 

Keep in mind that these are general averages that regularly change and depend on local markets, individual effort, broker splits, and agent experience. Despite their dynamism, these numbers offer a good idea of an average real estate agent’s salary, state by state.

Why Real Estate Salaries Vary

The average real estate salary may have surprised you—after all, Alabama and New York are neck and neck. When looking at the earnings of a real estate agent, there are plenty of reasons why they might be higher (Maine?) … or lower than you’d expect: 

• Disparate housing markets: Since real estate agents’ total compensation is based on commissions, states with higher average sale prices will see higher average incomes.  
• Competition: Agents in a small community with only a handful of real estate pros will have a better chance of winning clients than in a large city like Dallas, with roughly 750 agents. 
• Brokerage splits: Every brokerage handles splits differently, and in a world where brokerages are moving online, those splits can be even more beneficial to agents. These varying models skew the numbers even further, as agents at one brokerage could make a lot more from the same number of transactions than agents from a different brokerage. 
• Old-fashioned hard work: No surprise, commission-based salaries often reflect work ethic and hustle. It’s generally safe to say that agents who work their tails off will bring home more than agents who don’t. The same thing goes for experience. Agents with more years under their belts generally take home higher compensation. Remember, some part-time agents might not be at the top of the average but are still making their side hustle worth it.

How to Increase Your Real Estate Agent Salary

While you can’t control how many years you’ve been in the business or the amount of competition in your area, you can always level up and increase your salary, even if you’re a brand-new agent. You’re not locked into a salary determined by corporate role banding. You have unlimited potential. The Close has the tools and strategy guides you need to plan, start, and scale your business. 

• Select a real estate niche: It might be military families, seniors, first-time buyers, or luxury listings. Focus on that specific market and become the “go-to” for everything in your niche. 
• Focus on your skills: Focus on skills that will benefit you and your commission. Start with sharpening your negotiation and communication strategies.  
• Make strategic decisions: If you’re a new agent, start with our checklist, made specifically for you. It will help you make a strategic plan for success and a healthy salary. 
• Put that well-earned license to work: We have a whole list of jobs that require a real estate license and might just be the perfect side hustle for you.

Real Estate Agent Salary FAQs

What is the difference between a real estate agent & a broker?

What’s an average Realtor salary?

What makes up a real estate agent’s salary?

Bringing It All Together

We might not have nailed the Jell-O to the wall, but we offer a pretty good idea of each state’s average real estate agent salary. While these numbers are constantly twisting and changing in the winds of our stormy real estate market, at the end of the day, real estate agents have a big influence over their take-home pay. Put in that hard work, lean on us for strategy and advice, and you’ll outperform your state’s average salary in no time. How do these numbers reflect your experience? Have comments or questions? Leave us a comment below!

The post Real Estate Agent Salary: How Much Do Agents Really Make? appeared first on The Close.