Real Estate Education, Experience, Intelligence

Oct. 30, 2017

Hiring GREAT people; money isn’t enough!

Top Real Estate Brokerage, Top Real Estate Agents

Any real estate brokerage, or firm in general, can speak to the hardships of finding good/motivated employees. Our job as a brokerage is to enlist as many motivated and talented agents as possible to help us grow. As human resource (HR) professionals will say, it’s not about how to find the people as much as it is how to keep the people. Our team has been slowly growing with individuals that we believe stand out from our competition. They range in experience from newly licensed to 25+ yrs in the real estate industry.

Our most recent efforts to hire have lead me to write this blog. Any brokerage can hang a license on their wall, but we’re more interested in fully engaging our agents and clients to get the most they can from all of their hard work. So how do we find the people that fully commit to our client’s needs? More so, how do convince them that R.E Shilow is the best home for them?

Below are some HR practices that we continuously invest time, money, and energy into. We know that we’re nothing without our people! 

 

1. Truly invest in your agents

Competitive commission splits and thorough training are not enough. They are certainly the cornerstone of any great agent/broker relationship though. A manager of mine once said, “I’ll pay you fairly and what you’re worth so that we don’t waste any time talking about money.” That enlightened me about how many annual reviews I spent negotiating raises and quantifying my worth before we ever spoke about how we can develop more skills or make the company better together.

At R.E Shilow, we invest not only financially (agents that accept leads don’t pay us cent for anything), but we invest our time and resources as well. Our broker and seasoned agents have an uncanny ability to step in at the right time and assist with closing deals, marketing, the purchasing/selling process, etc. I mentioned before that any broker can hang someone’s license…we do not. We don’t do that because we want to fully invest in every agent. We want them to join our RE Shilow family and allow them to make as much money as possible. Our success relies on the agents’ success. We commit to always be ahead of the agents in real estate knowledge, that’s a broker’s job. Always be available to assist on the phone or in person for any agent that may need you at any time. 

2. Network continuously for new people and pay for your agents to do the same 

We know that the best people out there are being held closely by their current employer. It’s important to not assume that job-seekers are a waste of time, that’s naive. BUT – often times the best of the best are being aggressively held by their employer already. This is where networking and relationship building comes in. This isn’t just for an HR function of course, but what better way to find great talent then by learning about them while they learn about your firm over the course of a mutual/non-binding relationship? Some of our highest earning agents never applied to our firm. They simply met someone affiliated and decided to come in for a chat. 

At R.E Shilow, we implore our agents to attend as many of our free networking events as possible to grow their client base and skill sets, and to develop lasting professional relationships. We’re well aware of the powers of networking and marketing, but so many people lose sight of good relationships because they don’t see the instant result. We encourage our agents to nurture their relationships and continue to grow new ones. Somehow we always end up with more great agents to boot!

3. Cold Calling

Everyone hates this term, right? Well, it’s definitely not for the faint of heart, but it does pay off. We all have to do it. It doesn’t matter if you’re following up on a lead from your website or calling from a list of newly licensed professionals. Sometimes you just desperately need contact. In our case, we have so many leads that we absolutely needed to find more agents.

I signed two amazing people this week from simple cold calls. I had a list of 75 people that I called every day until they told me not to call anymore. Only two came from the list, but they have tremendous potential and we’re very happy to have them. We’re confident that their work ethic and personalities/experience will combo with our agent investments and pay dividends in the future! Welcome, Darren Marbley! We'll update the second agent shortly.

Conclusion:

Invest in your people!!! Don’t ask them for a chunk of the money they work for and not help them make any money! We provide our people leads, all forms needed, extensive training as needed, senior agents to lead and foster new agents, a hands-on broker, all fees and websites paid for, and more! If you’re a real estate professional looking for a brokerage to call home, of if you’re just looking for more information, please visit with us at any time, we’d love to hear from you!

 

Oct. 30, 2017

Managing Rehabs and Contractors

Managing Real Estate Investment Renovations

Investing in real estate projects is one of the best ways to spend your money if you have the right Construction Management Team. Investors (except silent ones) should be able to have a good idea of renovation costs before purchasing a property. Once purchased, you must manage your budget as much as possible in order to guarantee a good return on investments (ROIs). Below are some tips on how to manage construction and save money. 

 

1. Repair and clean first

Try to get the place clean first and repair things that need repairing, rather than diving in to replace everything. Often times you can paint cabinets and save money. It depends on your intentions for the property (selling or renting), but you want to consider your budget at all times. Unforeseen expenses are sure to come up, so save where you can.

2. Always paint with neutral colors

This seems obvious, but you’d be surprised how much a fresh coat of paint can change the impression of a home. Light colors are inviting and give the illusion that there is more area space. You want to invest in a good painter because a bad paint job can ruin a beautifully renovated home.

3. Invest in a ‘main crew’

Outside of the typical contractors that need licensing such as a master plumber, electrician, or HVAC contractor, your main crew should be able to do the following: basic framing, drywall, painting, trim, cabinets, tile/flooring, fixtures, etc. You usually have to engage specific trades for things like roofing and windows, but your main crew should be able to handle the rest. These individuals are responsible for making the house look perfect and should be treated like gold if they’re good. This will save money on your budget for labor tremendously.

4. Manage your contractors intensely

The saying “what gets measured, gets improved” cannot be more true with contractors. There are millions of companies to choose from, but you’re typically looking for reasonable priced or lower priced contractors to renovate a property. Cheap is not always the best option! It’s tempting to go with the cheapest contractor, but don’t fool yourself. It could cost you a lot of money down the road. Research small companies that have great reviews or come recommended by someone who can verify their work. If it’s a new contractor, be very specific with the scope of work and do let them deviate from your plan. You must be onsite every, single day to ensure contractors are on schedule and up to par. If you start to feel uncomfortable, address your concerns with your contractor immediately. If there isn’t result, you need to move on. It never pays to keep people that aren’t looking out for your best interest.

5. Invest in a project manager, rather than a general contractor (GC)

Project Managers (PM) work directly for you and no one else. The benefit of a good PM is that there isn’t somewhere more important for them to be except managing your projects. They hire/fire contractors, maintain budget and contact paperwork, expense accounting, project schedules, etc. They are your eyes and ears on the project at all times. A good PM will naturally become your right-hand. Invest in a PM upfront, and save thousands later.

 

Aug. 10, 2017

Why Sell Your Property Now?

Sell Before 2017 is Over!!!!

Sell your house now while rates are at all-time lows. If you live in Baltimore and are thinking about selling your house now is the best time to sell. Interest rates are at the lowest since one can remember making mortgage payments for prospective buyers very attractive. Also, the inventory in Baltimore for great deals is very low. The supply of multiple great houses for sale in many neighborhoods doesn’t exist. If you have a home with great amenities on a nice block you should be able to receive multiple offers and probably 95% of asking price if the home is priced right. Baltimore is gaining many home buyers coming from all over due to many factors with inventory on the low side sellers are in the driver’s seat.

Numbers Don't Lie

Here are the official numbers for the Baltimore metro area:

2017                              2016                  Year-Over-Year

Sold Dollar Volume   $5,940,184,874             $5,423,541,116         9.53%

Avg Sold Price             $295,693                       $284,193              4.05%

Median Sold Price      $255,210                        $248,940               2.52%

Avg Days on Market               68                                79               -13.92%

In Conclusion 

Based on the numbers above one can see that the housing prices have risen while the days on market has gone down. This is great news for sellers. Time is money and the sooner one can sell their home the sooner they can make decisions about the next steps they need to take. For a complete valuation on your property, click here.

 

July 26, 2017

Baltimore Real Estate Market on Fire!

Real Estate Market at Record Highs

The Baltimore Metropolitan area median sales price is $279,400, which went up 1.6% or $4,400 from last years, and up 2.1% compared to last month. This was the highest price level since July 2007. Now is the best time to buy or sell your home, the market is operating at one of the highest rates in a decade. The Baltimore Metropolitan area has seen increases in almost every aspect, almost all jurisdictions ( Baltimore county, Carroll county, etc...) have seen increases in market activity.

Baltimore Market Overview 

  • Sales volume across the Baltimore Metropolitan area was $1.4 billion, which increased 6.6% from last year.
  • Closed sales total of 4,509 went up 4.8% compared to last year and set an all-time high for the decade.
  • New contract activity of 4,313 was 1.2% above last year’s June record of 4,260.
  • There were 5,851 new listings in June, up 0.7% from last year but down 1.6% from last month.
  • Active listings declined by 12.6% year-over-year to 11,097, the 21st consecutive month of declining year-over-year inventory levels and the lowest June levels in a decade.
  • The average percentage of original list price received at sale in June was 96.6%, up from last year’s 96.1% but down from last month’s 96.8%.  This is the highest June level of the decade.
  • The median days on market were 19 days, down from 22 days last year, and remains at the lowest monthly level in a decade.

June Average Sales Price

  • The overall regional median sale for June is $279,400, which is a 1.6% or $4,400 increase from last year, and up 2.1% or $5,775 from last month.  This is the 16th consecutive month of year-over-year price increases and is the highest June price level of the past decade.
  • Compared to last June, town home prices were up 6.1% to $219,000 and single-family detached prices were up 2.8% to $350,000.  Condo prices were down 2.5% to $204,750.
  • Prices are above the 5-year average of $269,010 and the 10-year average of $260,055.
  • June prices are 18.6% above the 2011 low of $235,500.
  • Howard County continues to be the most expensive area in the region, with a June median sales price of $437,500, a 4.2% increase compared to last year. 
  • Baltimore City remains the most affordable area in the region, with a June median sales price of $164,000, a 5.8% increase compared to last year.
  • The highest level of year-over-year price appreciation was in Carroll County, where prices rose 7.0% to $319,900.  Only Harford County saw a decrease in prices compared to last year, where they dropped 3.0% to $252,000. 
  • For the year-to-date, all jurisdictions show price increases, and the overall regional median sales price has increased 2.5% to $255,210.

 June Closed Sales for Baltimore Metro area

  • There were 4,509 closed sales in June, up 4.8% compared to last year, and up 13.7% compared to last month.  This is the highest overall monthly level of the decade.
  • Town home sales were up 9.4% to 1,547, single-family detached sales were up 2.6% to 2,508 and condo sales were up 2.0% to 454, Compared to last year. 
  • June sales were well above the 5-year average of 3,781 and the 10-year average of 3,166.
  • Sales were 90.4% above the 2011 low of 2,368.
  • Sales activity across the region was up in all jurisdictions except Howard County, where sales declined 2.1% to 524.  Carroll County had the highest percentage increase in number of sales (+8.2% to 302) while Harford County saw the smallest level of increase of 2.9% to 427.

June Median Days on Market 

The average days on market (DOM), which the average days listings have been on the market, in June in the Baltimore Metro region was 19 days, down three days from last year and the same as last month. This is the lowest DOM of the last decade.

  • Condos had an average DOM of 24 days, while townhouse have a median DOM of 22 days and single-family detached have a median DOM of 17 days.
  • June’s average DOM of 19 days is well below both the 5-year average of 24 days and the 10-year average of 39 days.
  • June’s average DOM of 19 days was 45 days less than the peak DOM of 64 days in June 2008 and June 2009, and was the lowest June level in a decade.
  • Baltimore City had the highest average DOM of 30 days, up from 27 days last year.
  • Howard County had the lowest average DOM of 12 days, down from 14 days last year.
  • For the year-to-date, the regional average DOM is 29 days, down from 39 days for the same period

Baltimore Real Estate Market Conclusion 

The overall regional median sale for June is $279,400, which is a 1.6% or $4,400 increase from last year, and up 2.1% or $5,775 from last month.  This is the 16th consecutive month of year-over-year price increases and is the highest June price level of the past decade. Now is the best time to buy or sell your home, the real estate market is operating at close to record highs

July 2, 2017

Happy Birthday America!

THE BEST PLACE IN THE WORLD!

Posted in Community News
Jan. 2, 2017

7002 Paris Road

7002 Paris Road Randallstown, MD 21207

What a beautiful property in Randallstown, MD

Paris road was acquired by one of Baltimore's most well know real estate groups.  They purchased this property and all their properties based on core factors of location, schools, and affordability. All the renovations are completed by Baltimore small business owners. 7002 Paris Road is one property of a 1.6 million dollar portfolio, which generates approximately 3 million dollars in the local economy every year. This is a true sign of the pride of Baltimore.

The property is full of amenities. Upgraded wood trim and stone finishes, the latest Home and Garden style kitchens and bathrooms, top grade flooring, and custom paint job.

You can own this property for less than $1700 a month and with 3.5% down payment. Ask how you can own this property with NO MONEY DOWN. Please contact Danny Bowling with R.E. Shilow db@reshilow.com or 443-900-7055.

Dec. 19, 2016

Own a $300k Home for $1500 Per Month!

Let Us Show You How

R.E Shilow Realty from Ross Lewin on Vimeo.

 

Here is an interesting fact, the average apartment these days will cost between $1,200.00 to $1,800.00 per month depending on the area. In most cases, working with the right Real Estate Agent and their Lender Partners you could purchase a home for $300K with minimal money down. And in most cases the seller will help with the closing cost! That would put your payment right about $1,400.00 per month! We even have programs that you can purchase a home with no money down.

Simple Process

It all starts with scheduling your Home Buyers Consultation. At R.E. Shilow Realty we don't want to hard sell anyone. Our goal is to simply guide you through the process and offer our expert opinion and market knowledge so you can begin building your family's memories in your dream home!

So don't let a simple 15 minute conversation stand in the way of starting your new life!

Contact:

Danny Bowling

db@reshilow.com

direct| 443.900.7055

office| 443.602.9900

 

Nov. 22, 2016

Elections Do Not Slow Property Buying In Maryland

Maryland Home Market Remains Active

Being Maryland is directly adjacent to the most powerful city in the world, Washington D.C., we tend to be more in tune with politics than the rest of the country. 2016 has certainly been viewed by many as the most divided and economic uncertain election in our lives. It seems the country has never been more divided and at the center of the divide is the health of our economy. Through the political unrest there does not seem to be any waiver in consumer confidence in the Maryland home buying market.

Consumer confidence as recorded by the Conference Board has hit a decade high since 2007, right before the great recession. A mixture of steady job growth, increasing wages, and the lowest mortgage rates ever recorded in America has seemed to give Maryland a boost in confidence. 

Faster home sale growth has been recorded in Howard County 20%, Anne Arundel County 16%, and Baltimore city 14% year over year. Even the counties of Charles, Frederick, and Montgomery have experienced double digit growth.

For many years the first time home buyer market was very slow, but now with rising employment, wages, and easing credit guidelines the first time home buyers are starting to come out in force not only buying homes, but buying the most expensive homes they can afford. This is putting pressure on the median and average home sale prices and for the first time in the last 10 years causing a decline in inventory and edging list prices higher.

A Better Outlook

For the first time since recent memory there are beginning to be more buyers and sellers in our regional markets, particularly Howard County, Carroll County, and Montgomery County, and a few others. 

With the number of job openings increasing in Maryland particularly through the I-95 corridor the short term outlook is positive and showing signs of even more improvement. Interest rates are looking to edge higher, but not by much and are seen to stay very favorable for home buying and commercial buying for the next year. 

Keep your head up and working hard Maryland! Financial times seem to be changing for the better!

For more information on your local housing outlook or to get a value analysis of your home, please give us a call or email at 443.602.9900 res@reshilow.com.

 

By:

Ryan E. Shilow

A Johns Hopkins Mater of Real Estate

Maryland Real Estate Broker of Record

Nov. 16, 2016

Baltimore Real Estate Prices Highest October Since 2007

Greater Baltimore Market Summary

Real Estate Statistics you can't ignore!

Greater Baltimore median sales price of  approximately $255,000 was up 8% from last year, and at the highest October level since the great recession. 

The sales volume across the greater Baltimore area was just over 900 million, up  over 10% from last year.

October closed sales of 3,060 transactions were up over 3% compared to last year. This was the highest level of October sales recorded since 2005.

The number of new listings dropped 9.8% to 4,327 compared to last year. Showing a stronger sellers market with a drop in inventory/homes for sale.

The number of active listings declined by just under a staggering 15% to 11,958, marking 14 months of declining inventory levels. Again showing a signs of a possible on coming sellers market.

The average percentage of original list price received at sale in October was 94.8%, the highest October level in a decade.

The median days-on-market was 40 days, down from 47 days last year.

Baltimore Market Conclusion

Our greater Baltimore Market (Howard County, Baltimore County, Harford County, Howard County, and Baltimore City) is showing signs of true market growth that has not been seen in over a decade. What is driving this growth? Is it the change in our president? or Is it a still low interest rate environment powered by he central bank? or Is it our areas citizens that have been working harder since the great recession to make a better life for themselves and our community? We are not 100% sure, but one thing is for certain; the out look of our local housing market and economy are showing strong signs of forward motion. 

Keep it up Baltimore!

For more information on our real estate market, please contact an associate or our broker directly at 443.602.9900.

By: Ryan E. Shilow

 

May 11, 2016

HIGHEST APRIL HOME SALES IN DECADE

BALTIMORE METRO HOME PRICES SORE IN APRIL

Baltimore Metro home prices are up 6% in April

Total sales volume is up 20% from last year; nearly $900 million

Baltimore Metro has had a 21 consecutive month increase in property sales

What is the Real Estate Market Saying?

With pending sales at its highest level since 2007, active listings down for the eighth consecutive month, and 94.6% of list price received by all $900 million of sales; the market is saying " renters are starting to feel stable in their jobs and are looking for their first homes and homeowners are starting to feel confident in getting the best value for their homes.

Click here for the official  REALSTATE BUSINESS INTELLIGENCE.