Thinking About a Career in Real Estate?

Are you thinking about a career in Real Estate?

Here are the 8 top reason why you should follow through.

“The best part of my job is when I deliver keys to the new home owners and they are so excited and start sharing all the plans they have to make this house into their home.”- Linay Lencioni

1. Real Estate is a field that is continually growing, while other fields are becoming obsolete. Real Estate based careers are predicted to experience a 5% growth between 2014 and 2024. A lot of other fields have recently been downsizing employees and switching to a more technology-based field rather than human interaction. It comes with security of always having a job.

2. Starting a career in real estate is less time consuming than other careers, as far as an educational standpoint. Realtor school on averages takes about 2-3 months, where people with similar incomes in their first year of working, have spent around 24 months or more on schooling.

3. Schooling for a career in real estate is low cost. Education cost for real estate are lower than many other careers that have similar earnings potential. Real Estate careers don’t put you in a mass of outrageous student loan debt. The average cost of going to a realtor school is around $700 (one time) and the average cost of education for an Associate Degree is over $3000 (per year).

4. There is no limit on the amount of money you can make. Income in a real estate career is based on the amount of work you put in and the relationships you build. As your expertise in the field grows, so does your income.

5. You’re making a difference in people's lives. One of biggest decisions someone will make in their life is purchasing a home. You get to be a part of that decision. Not only do you help people find their dream homes, you give them a place to start their families. This strikes home with our realtors at BOLD Real Estate Consultants. Chris (Realtor) state, “I love the feeling of knowing I am helping people move on to their next step in life.” 

6. Real Estate offers more schedule flexibility. Whether your child has practice, or you’re going to a personal appointment, scheduling appointments with clients and setting up house showings are easily fit into a busy day.

7. There is something new every day. Think about the people you know that complain about how mundane their job is. That won’t be your fate as a realtor. You’re constantly seeing new places and new people. There is never a dull moment in real estate.

8. You get to look at houses. I don’t care who you are, where you are from, at some time in your life you’ve probably driven by a house and thought, “I’d love to get to see what the inside of that place looks like.” In Real Estate, you get to. You don’t just sit there watching HGTV and wish that you got to tour these beautiful homes, you actually get to go out and live it. 

If this sounds like a career that you would love, stop daydreaming about your dream job and make it happen! 

Is Your Area in a Buyer's or Seller's Market?

Selling in Northeast Ohio? Free home value report right here

 Buying in Northeast Ohio? Click here for full MLS access. 

Today, we're here with a market update for Brunswick, Medina, Stow, and Hudson.

Stow is still in a seller's market with 2.6 months of inventory. We can expect a shift to a neutral market as we move towards three months of inventory. The number of homes for sale is down 14.2% this month compared to last month, and down 17.1% compared to last year. However, the number of homes sold last month is up 42.3% compared to last year. So, if you're selling your home, now is a great time to put your house on market and net the most amount of money possible.

Hudson is currently in a neutral market with 5.2 months of inventory. Hudson will most likely shift into a buyer's market as inventory increases. The number of homes for sale is actually up 11.5% compared to last year, while the number of homes closed is down 10.3%, which also indicates that we are teetering on a buyer's market.

Brunswick and Medina are about the same. Both have 3.2 months of inventory, which means both are in a neutral market now. That being said, 3.2 months of inventory is close to a seller's market, making now the perfect time to sell. Just keep in mind that it may take a little longer than 90 days to sell your home.

If you're thinking of selling, there are three major things that impact the sale of your home: price, location, and condition. We hit on all three of those points. Our professional home stager and our professional photographer both make your home appeal to more buyers. Professional photographs in particular will give you an edge over the competition.

If you have any questions, give us a call or send us an email. We would be happy to help you!

How Will TRID Affect the Real Estate Industry?

Selling in Northeast Ohio? Free home value report right here

 Buying in Northeast Ohio? Click here for full MLS access. 

Today we are joined by Denise Scolaro from Cleveland Home Title to discuss the upcoming changes with the Consumer Financial Protection Bureau, or CFPB.

The CFPB is implementing TRID, or the TILA-RESPA Integrated Disclosure, on October 3rd. TRID will extend the period of time the buyer has to read the closing documents during a real estate transaction.

Agents will be required to write out a contract for at least 45 days. In total, there is a six-day period for the transaction to be completed. The seller has two days to send the documents over to the buyer, the buyer has three days to review, and then the last day is reserved for closing.

Your closing disclosure will change. The HUD settlement statement will still be present, but it will look different than before. The breakdown is going to be more finite, so it may cause some confusion when these changes are first implemented. We recommend that agents call the title company if you have any questions, rather than trying to answer them yourself.

The biggest thing that the buyer needs to be aware of is that transactions will take longer to close. They will be given more information that they need to look at before they can close the transaction, so it will take a little longer. The good news is the extended time frame gives you more time to ask questions and understand exactly what is going on.

For sellers, this means that simultaneous closes will no longer happen due to the new 45-day contract. Sellers will have the same opportunity to review their documents. For Sale By Owner sellers may not understand the process of the real estate transaction, especially with these new guidelines, so we strongly recommend working with a real estate agent.

Another thing for buyers and sellers to be aware of is sellers will need possession of the home for a week or two in order to close.

If you have any questions about today's video, you can contact Denise by calling (440) 213-6710 or sending an email to DScolaro@ClevelandHomeTitle.com. As always, if you have any questions about real estate, or if you're considering buying or selling a home, please give me a call or send me an email. We'd be happy to help you!