Where landlords are loving—and losing
#57
It’s that time of year when seasonal markets are cooling and prices are dropping like leaves. Which is why it pays to have inspo like this stashed in your saved list. Show us a better way to announce a price reduction on your listing. We’ll wait 😉
🔊Today’s Top Podcast Rec:
Jimmy Mackin, co-founder of the full-service digital marketing company Curaytor, knows how to turn the wheel and drive traction through lead generation. In the latest Glennda’s Guru, he shares how to build a marketing engine for your real estate business that leverages social media and content to turn lookers into leads—and then into repeat clients.
TRACK THE TRENDS
MARKETS
Rent by the Region
The national average rental rate nudged up 0.6% in September, but not all landlords were feeling the love last month. Across the East Coast and the Midwest, slow construction continues to drive rent up. But in the Sun Belt states, oversupply from the post-pandemic building boom is cooling the rental market.
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Washington, D.C. saw the sharpest rent increase, up 12% year-over-year, with other high-growth metros like Virginia Beach, Baltimore, Cleveland, and Chicago posting similar jumps.
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Jacksonville, FL experienced the steepest rent drop, down 11.3%, with Raleigh, San Diego, Austin, and Tampa also reporting significant declines.
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Rents decreased across all bedroom sizes for the second time in three months, with 3+ bedroom units falling the most at 1.9%.
For agents working with real estate investors, the takeaway is clear: Markets like D.C. and Chicago are ripe for rental growth, while areas like Austin and Tampa may be harder to turn a profit in.
DIVE IN
The Friday Five
📖 Weathering the storm. Glennda’s thoughtful message following ‘mean, mean Helene.’
👀 Disney dream. See the plans for Disney’s luxe Storyliving community, already underway in California.
👀 Brokerages go bust. These brokerages are likely to take the hardest hit from new commission laws.
💡No welcome here. How not to start your next listing announcement video.
💡Hiring help. Look for this when hiring help for your business.
WHAT’S NEW FROM ESTATE MEDIA
Jake Paul Takes Feng Shui All The Way
It’s not often that Jake Paul makes celebrity real estate headlines, but when he does, you can bet Scott’s Market Watch will cover it (and a handful of the biggest luxury news and sales stateside). Watch the latest episode to see Jake’s $20M Puerto Rico renovation project, including a massive living room expansion, incredible art, and a knockout open floorplan.
HANGS & HAPPENINGS
eXpcon 2024 | Miami, FL | October 27-30. Level up your business alongside the top players in the industry. With breakout sessions led by all-star agents on topics like luxury sales, lead generation, and leveraging AI, plus a giant EXPO hall packed with vendors, there’s no better place to supercharge your real estate game.
NAR NXT | Boston, MA | November 8-10. Join 15,000+ real estate pros at NAR’s premier annual event, featuring top-tier networking opportunities, educational sessions, and hands-on experiences with the latest real estate tech tools.
Inman Connect | NYC | January 22-24, 2025. Grow your network, learn from the best in business, and get inspired through multiple networking opportunities and breakout sessions from industry pros like Rayni Williams, Mauricio Umansky, and Jimmy Burgess.
FEATURED LUXURY LISTING
Put your best profile forward with a Homes Pro membership—and show up where (and when!) ready-to-move home searchers are looking. Tap the photo above to learn more about amplifying your real estate brand with premium tools, priority visibility, and enhanced exposure across the internet with Homes.com.
TIPS & TAKEAWAYS
9 Real Estate Affirmations To Take To Heart
Need a shot of motivation this week? Ricky Carruth built a seven-figure real estate business as a single agent off these nine beliefs:
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Closings always happen.
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Real estate is a win-win.
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Control the controllables.
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Outwork everyone.
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Lost deals give you time back.
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Have an abundance mindset.
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Competition doesn’t exist.
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Pour into people.
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Relationships over transactions.
Dig deeper here.
Before we go…
ESTATE RECOMMENDED RESOURCES
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