AGENT,REAL ESTATE ADVICE
RentSpree | December 21, 2022
RentSpree, the industry's premier end-to-end rental management software provider, is dedicated to changing the mindset around the profitability of rental properties. A 2022 RentSpree + RealTrends Rental Power Rankings study made clear that many agents do not view rentals as worthy of their time and resources. Approximately 50% of the surveyed agents claimed that the commission was "too low" for the time and effort required to lease a rental property, and 43% of surveyed agents claim that a lack of knowledge of the rental market keeps them from working in that space. In short, many real estate agents see working with rentals as a poor return on investment (ROI).
RentSpree challenges that perception and highlights how rentals can improve agent profitability year-round, especially in an economic downturn. With new insights into the misconceptions of the rental industry, here are some tips on how agents can stay ahead of the economic forecast:
Leverage the Right Resources:
With the right tools and industry knowledge, real estate agents can increase their cash flow by assisting tenants and working with landlords and property management companies. Depending on their goals, agents could work with buyers and sellers while the market is hot, and renters during a slower part of the year, highlighting how beneficial the malleability of rentals can be.
Consider Current Business Expansion:
Many agents forget or don't realize that their current business structure might already be set up to work with rental properties. If an agent already works with real estate investors to buy and sell property, they could also offer their services to fill the property with a tenant when it is move-in ready. This can be an excellent option for adding income to your business by establishing yourself as the go-to agent for buying, selling, and renting out properties in the area. As agents, time and resources are invaluable, regardless of the economic situation.
Tap Into the Value of PropTech:
Agents can lean into property technology (PropTech) tools to simplify working with rentals. PropTech gives power back to agents to work the field rather than handle time-consuming paperwork on a transaction's front or back end. The right solutions also enable real estate agents to:
Set up a listing cart to show properties to tenants through the MLS and lets them quickly help renters fill out online applications
Facilitate payment of the tenant screening fee
Pass on the paperwork to the landlord as soon as it's completed
Allow the tenants to be notified of a landlord's decision within 24 to 48 hours of applying (cutting two to five days out of the typical manual application cycle)
Boost agents' hourly earnings and return on investment exponentially.
With a fresh perspective on the fluid real estate market heading into 2023, and nearly 50 million rental properties across the United States according to numbers from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, there has never been a better time for agents to consider working with rentals.
Los Angeles-based RentSpree is a provider of award-winning rental software that helps seamlessly connect real estate agents, owners, and renters to simplify and automate the entire rental process, from listing to lease. The all-in-one platform is known across all 50 states for its easy and secure interface and suite of rental tools, including tenant screening, rent payments, marketing and renter management. To date, RentSpree has partnered with more than 250 of the most influential MLSs, real estate associations and brokerages to serve over one million users in the U.S. RentSpree is ranked 625th on Inc. 5000's fastest-growing private companies in 2022.
REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING
8Twelve Mortgage and Your Home Sold Guaranteed Realty | January 31, 2023
On January 30, 2023, 8Twelve Financial Technologies Inc. informed that it has agreed to supply mortgage solutions to Your Home Sold Guaranteed Realty (YHSGR), as well as to the company's agents and clients.
The patented INFIN8 platform developed by 8Twelve uses real-time analytics, artificial intelligence, and workflow automation to select the optimal mortgage from the largest marketplace in Canada for bank, alternative, and private mortgage products.
Todd Walters, CEO and Co-Founder, said, "At Your Home Sold Guaranteed Realty, we invest in our agents more than any brokerage you will find." He added, "Partnering with 8Twelve fits our model perfectly because we consistently equip our agents with differentiating tools that help them to build their business and dominate in the industry. This partnership ensures that YHSRG realtors have the best tool to secure financing for their deals."
(Source – GlobeNewswire)
When it comes to real estate, YHSGR is the only company in the United States and Canada licensed by the top real estate coach in the two countries, Craig Proctor. That's because only YHSGR agents have access to Craig Proctor's secret business strategies, which have helped more of them become millionaires than any other real estate trainer or coach.
Akber Abbas, President and Chief Information Officer of 8Twelve, remarked, "With rising interest rates and tighter lending requirements, Canadians now more than ever need to know all their home financing options." "This agreement highlights the strength of our service offering in enabling large-scale enterprises to deliver the best financing solutions to their clients," he concluded.
(Source – GlobeNewswire)
8Twelve Mortgage Corp., based in Toronto, helps people all over Canada get the money they need for various financial projects, such as refinancing, renewal, debt consolidation, and more. The mission of 8Twelve is to make house ownership a reality for happy Canadians. The organization also provides clients with clear and extensive explanations, regular updates on their loan progress, and the chance to submit feedback throughout the mortgage loan process.
Your Home Sold Guaranteed Realty (YHSGR) was established to become the best place in the real estate industry to work, buy, and sell a property. The company takes great pride in being one of the real estate companies in the country experiencing the most rapid growth. YHSGR assists with every aspect of the real estate transaction, whether one wants to buy or sell a home.
REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT
Tishman Speyer and Mitsui Fudosan America | November 09, 2022
Tishman Speyer and Mitsui Fudosan America (MFA) today announced the formation of a new programmatic joint venture dedicated to the acquisition, development, redevelopment and operation of industrial properties in leading U.S. cities.
The newly-created Tishman Speyer-Mitsui Fudosan America Logistics Venture will be seeded by an initial $500 million commitment from an affiliate of MFA along with co-investment capital from Tishman Speyer. The funds will be used to pursue ground-up development projects and the major repositioning or redevelopment of existing value-add industrial acquisitions. The joint venture will prioritize ESG investments that adhere to the standards and specifications set forth by market leading environmental certifications such as LEED and GRESB.
The partnership will focus primarily on major urban centers with dynamic workforces, growing populations and high barriers to entry such as Los Angeles, the New York Metro region, the Puget Sound region, San Francisco Bay Area, Austin, San Diego, Washington D.C., Boston and Chicago. Tishman Speyer will execute its industrial strategy through its long-established in-house teams within its target markets.
Tishman Speyer will invest in a wide range of industrial assets that facilitate the movement and delivery of goods and services in those high barrier locations, including distribution, warehousing, research and development, small bay, transload and outdoor storage.
"The evolving needs of today's consumer have generated strong demand for well-located, functional industrial properties. This is especially true in the most supply-constrained urban centers. Through this new joint venture, we intend to create and operate facilities that bring companies closer to their customers, We are also excited to grow and diversify our strategic partnership with Mitsui Fudosan America - already a co-investor in a number of Tishman Speyer's life sciences, residential and office developments."
-Tishman Speyer CEO Rob Speyer
Said Sean McSweeney, Senior Vice President, Acquisitions, at Mitsui Fudosan America, This is an exciting area for the growth and expansion of our portfolio. Our partnership with Tishman Speyer has already proven its success in finding opportunity and delivering value to a wide range of urban communities throughout the U.S. This initiative extends from the decade long commitment by Mitsui Fudosan Co., Ltd., to acquiring, developing and managing industrial facilities. In Asia, under the Mitsui Fudosan Logistics Park flagship brand, there are 53 projects being developed and managed.
Tishman Speyer launched its industrial platform in December 2021 with the acquisition of two distribution centers in Pittsburgh and Colorado Springs. In 2022, the firm tapped industry veteran Andy Burke to serve as Managing Director and Head of Industrial. Burke previously held leadership roles at AMB Property Corporation (now Prologis) and most recently at Terreno Realty Corporation, where he was part of the management team that established its platform and took the company public in 2010.
Mitsui Fudosan America's commitment to this new joint venture will accelerate our industrial platform's expansion from core and core-plus assets to include value-add, development and redevelopment opportunities, said Tishman Speyer Senior Managing Director Paul Galiano, who serves as Co-Head of U.S. Acquisitions and Global Capital Markets.
Added Burke, The servicing requirements that come with an ever-expanding omnichannel experience are constantly creating dynamic demands on the supply chain. By positioning our investments in high density locations in the path of consumption, we will unlock significant value for our customers and our investment partners.
About Tishman Speyer
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 32 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers' evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 512 properties, totaling 217 million square feet, with a combined value of over $126 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
About Mitsui Fudosan America
Mitsui Fudosan America, Inc. (MFA) is the U.S. subsidiary of Japan's largest real estate company, Mitsui Fudosan Co., Ltd., a publicly-traded company with approximately $65 billion of assets. MFA is responsible for Mitsui Fudosan's real estate investment and development activities in North America, and is headquartered in New York, with branch offices in Washington D.C., San Francisco, Los Angeles and Honolulu. MFA has been active in the United States since the 1970s, and currently owns assets in the New York, Washington D.C., Boston, Dallas, Atlanta, Denver, Seattle, San Francisco, Los Angeles, San Diego and Honolulu metropolitan areas. MFA's U.S. portfolio includes 8.6 million square feet of office space, 2.7 million square feet of office space under development, 2,000 residential apartments, 5,300 additional rental units under development, as well as 741 hotel rooms. Additionally, MFA has recently developed several condominium projects in the New York and Washington D.C. markets.