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6 Real Estate Market Predictions for 2022
Real estate market trends concept; Miniature wooden houses and red arrow up.
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Over the last two years, the real estate market has seen several major fluctuations. The market nearly stood still during pandemic lockdowns followed by an explosion of overwhelming home buyer demand in 2021. Can the momentum and pressure continue in the face of the housing shortage? What solutions and developments does 2022 have in store for the real estate market?
We’re diving into the essentials of the upcoming housing market trends.
1. Mortgage Rates and Home Prices Are Going Up
Mortgage rates are currently on the rise from their historic low in the 3% range. We expect to see them remain low but approach 4% in the next year of financial and market recovery. However, this is slightly discouraging for homebuyers looking to get a good price with low interest on a new purchase, as increased interest rates mean increased costs across the board. As mortgages become more expensive, home values continue to shoot upward in response to high demand and short supply.
2. Pricing Challenges for First-Time Buyers
The rising home prices and mortgage rates are creating a uniquely problematic challenge for first-time homebuyers who might have limited capital and big dreams. Right now, it’s fewer houses for more across the board as young families are struggling to find large houses in an affordable starter-home price range.
Right now, competition and inventory are settling into a new normal. Bidding wars have become common and even buyers with capital to invest are finding it hard to close on an offer with so many other buyers on the market.
3. Pandemic Home Buying Trends
As a result of quarantines and the remote work movement, many people are looking for homes with an extra bedroom for a work-from-home space, or more open-plan living space, as opposed to smaller, cramped apartments. The remote work trend is not expected to disappear anytime soon, if ever. Because of this, large amounts of people are no longer tied to the big city centers and business hubs. Their freedom to move away from city life will continue to play a key role in the high-competition housing market, continually shaping current and post-pandemic home buying.
Larger Homes in Demand, Smaller Homes Gaining Popularity
2022 is looking like a great year for tiny home sales, as miniature cottages become more appealing to those looking to stake their housing claim. Tiny homes and modular homes are both becoming more appealing options to sidestep the slowdowns of a cramped market and stick-built construction delays. These homes especially appeal to those who may be looking to downsize and simplify their lifestyle. These homes are also simpler to build at a far lower price point, are a quick and viable option for those who have a plot of land they would like to utilize, and as an added bonus have a more overall sustainable impact on the environment. As the market moves into 2022, the momentum tiny homes and cottages built up in 2021 can be expected to continue.
Remote Work Pushes Buyers Away from Centers of Employment
One of the unique side-effects of the pandemic is the remote and hybrid work movement. Professionals who no longer have to return to the office (or very rarely) are choosing homes further from employers and city centers. Suburban and even rural homes are more desirable as the commute becomes less of a consideration. Many people are now comfortable with a 2+ hour drive to work, especially if they only come in once or twice a month.
4. Sellers are Returning to the Market with Greater Strength
A great relief to the 2022 real estate market, however, is the return of sellers. During this current housing shortage, there has been a reduced percentage of sellers on the market, most citing that they couldn’t find a home to buy so were not comfortable selling. As the market settles down from the 2021 frenzy, cautious sellers are joining the market, increasing the available inventory, and effectively making room for more sellers. This trend will help lighten pressure in the near future as sellers self-perpetuate a market increase.
5. Supply Chain Delays on Constructing New Homes
Unfortunately, we’re seeing no near end to the supply chain delays interrupting our progress in building new homes to alleviate the housing crisis. Contractors across the nation are facing construction delays for apartments, condos, and single-family neighborhood developments. This is one of the reasons that interesting alternatives like pre-constructed tiny and modular homes are rising in popularity.
We will see the supply chain transform in 2022, as locals look inward for sources and solutions when international shipping falls through.
6. Virtual Selling/Buying Stays the New Thing
Lastly, you can expect video tours to stay at the top of the charts. With COVID and travel restrictions continuing to be an issue, socially distanced house-hunting is here to stay. Fortunately, we have some great technology to make it work. In addition to top-notch photography, 360 cameras can provide immersive home tours that give potential buyers a feel for the space and floorplan.
Buyers love virtual tours, and sellers can minimize their exposure to curious strangers in their homes, making it a safe process for all involved!
2022 is looking to be one hot year for real estate. With prices going up and the market just now starting to innovate for current challenges, we’re looking toward a technology-driven, high-pressure new real estate year.
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How to Set Realistic and Actionable Goals for the New Year
2022 New Year Goals Concept. Top View Of Protective Face Mask, Potted Plant And Coffee Cup On Yellow Background
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It’s that time of the year again! When we all take a moment to plan out our perfect 2022. For you, you are thinking of a wise way to set realistic and actionable goals to stabilize your personal growth. But for most people, there’s always a bit of uncertainty going into this process. Putting too much pressure on yourself to reach certain goals (without actionable steps) runs the risk of feeling unhappiness and a sense of defeat further down the line. By setting realistic goals with thoughtful, actionable steps to meet these goals, you can set yourself up with a plan that is easy to follow throughout 2022, making this your best and most successful year yet! Check out these tips and tricks to get yourself started.
Get SMART With Your Goals
Sometimes, setting new year resolutions isn’t the problem—what you choose to focus on, and how, matters. One helpful step is to adopt the SMART goals tactic to increase your success rate.
Let’s take the example of saving money to walk through what SMART goals are.
- Specific: Determine the exact amount of money you want to save in the new year. Do a reality check of the goals and define your intentions. Why do you want the cash?
- Measurable: Set limits you can track over time. You can break down the savings into small manageable weekly bits to make the venture easier and less intimidating.
- Attainable: Save within your means. Look at the commitment needed and confirm it doesn’t interfere with your livelihood. For example, it is unrealistic to try to save $2,000 each month when your budget can only allow for $1,000.
- Relevant: Save feasible amounts of cash that can help you achieve your “why.” For example, you can’t save $100 each month for one year and expect to do significant home renovations without sourcing funding elsewhere.
- Time-bound: Set timeframes to evaluate how well your plan is working. Checking in with yourself will help keep you disciplined within your plans, and ensure you’re on the right track. For example, if you are adamant about saving $1,000 monthly, you should have $6,000 in the first half of the year. Hitting these metrics will help you stay on the right track.
Write Down and Share Your Goals
Lack of a conducive environment and motivation is a big reason why some people can easily get derailed from their course. Writing down goals in a handbook can be a wise and productive way to track your progress for the new year and beyond.
You can keep a journal of the goals to help you recognize patterns. If you feel less motivated, all hope isn’t lost. Find good social support within your circle or a partner to help you crush the goals, make lasting changes, and stay accountable for the year.
Enlist Help From Technology
You may be mulling over how technology can help you set realistic and actionable goals. There are loads of apps you can use to guide you through and monitor your resolutions. Your pick will depend on what you want to achieve.
For example, if your goal is to buy, sell, or renovate your home, you can download a realtor app to familiarize yourself with the trends and estimates. Another option would be a journal and planning app such as Notable, instead of a handbook.
Stick With What Works
Being honest with yourself is key to successfully making strides in the new year! Not every goal you set for yourself will come to fruition (at least not right away, or even within the year). And that’s okay! Additionally, you may be faced with some challenges or changes along the path that will be difficult for you to adapt to and overcome. They may feel overwhelming or like they will derail your progress, but that’s definitely not the case.
Check with yourself to affirm you make progress. Plan your ideas, follow through the process and believe in yourself. Be realistic—make changes if necessary! You CAN smash your goals and expectations for the new year.
It’s tempting to hit the ground running when it comes to setting your goals and getting on track for the new year. Following this guide will help you set realistic goals with actionable steps, getting you on the path to success in 2022. Don’t over-rely on other people to track your progress. Ultimately, setting realistic goals and conquering them is possible if you start on the right track and stay motivated.
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Agent to Watch – David Chen
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Congratulations to a January Agent to Watch, David Chen! David sees real estate as an important financial asset for his clients. He understands that being a homeowner and owning property is a great way to expand on your financial portfolio! With this in mind, he diligently sets out in each transaction with the goal to get his clients set and secured for years to come. Keep reading to learn more about this software engineer-turned- agent, David!
What are you looking forward to most in this new year?:
Spend more time with my family.
What was the first thing you wrote on your to-do list for today?:
Check out the MLS hotsheet.
Why did you decide to pursue a career in real estate?:
I love and enjoy real estate as the core asset of my investment portfolio, and want to help others achieve financial independence through real estate.
What’s the best piece of advice you’ve ever been given?:
Be honest.
If you could go anywhere in the world right now where would you go?:
Israel.
What is something most people would never guess about you?:
I used to be a software engineer.
You’re stranded on a deserted island. What three things do you have with you?:
My glasses, family picture, and my bible.
What does a perfect day in Sonoma/Mendocino/SF County look like for you?:
Hike in Bodega Head in the morning, have a crab sandwich at Spud Point Crab, and enjoy the scenic Russian River along Hwy 116 before heading back home.
What’s your favorite local restaurant?:
Kiraku Sushi & Ramen.
Agent to Watch – Monique Trejo
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Help us send a big congratulations to one of our January Agents to Watch, Monique Trejo! Monique is all about creating the life-changing moment for her clients where she can hand them their very own keys and tell them “Welcome Home!” Check out our blog to learn more about Monique, her dedication to her clients, and how when she’s not working hard you can find her taking in the Bay Area views and spending time with her daughters!
What are you looking forward to most in this new year?:
I’m am looking forward to serving my clients and handing over keys to their new homes!!
What was the first thing you wrote on your to-do list for today?:
Check MLS
Why did you decide to pursue a career in real estate?:
Although a Doctor degree would take too long to get for my attention span. Helping attain a home for my clients is my way of contributing to humans. I’m not a doctor or capable of life-changing surgery but a life-changing experience that will last a lifetime.
What’s the best piece of advice you’ve ever been given?:
Don’t take anything personally.
If you could go anywhere in the world right now where would you go?:
Switzerland with my daughters
What is something most people would never guess about you?:
I backed out of a Dallas Cowboy cheerleader contract to be a mom.
You’re stranded on a deserted island. What three things do you have with you?:
My daughter’s, a tarp, and a knife.
What does a perfect day in Sonoma/Mendocino/SF County look like for you?:
Breakfast at John Ash because they have the best orange juice. Lunch at the tides for the crab salad and dinner in Sausalito for the best oysters. I’m a foodie:) The view is great at all these locations but the energy is even better.
What’s your favorite local restaurant?:
John Ash
Agent of the Month – Marisa Rosas
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Congratulations to our first Agent of the Month of 2022, Marisa Rosas! Through constant communication, inner-confidence, and good old-fashioned hard work, Marisa has created a stellar reputation for herself. Time and time again, Marisa has shattered expectations and gone above and beyond for her clients! What more could you want in an agent? Keep reading to learn more about Marisa!
What are you looking forward to most in this new year?:
This year already feels so special. This will be my 5th year in real estate and my golden birthday is on March 25th. My favorite number is the number 5 so I am excited for what this year has to come. However, I am really looking forward to all the families and friends that I will be able to help this year in 2022.
What routines do you have in place to start your day off right?:
Mornings are so important to me. It is my “Me” time.
I like to start my day with an early morning F45 class, go home/get ready, drink my sea moss, vitamins, and a protein shake. Mediate for 5-10 minutes and on my way to my office or appointments I am talking to myself in my car saying positive affirmations. ( I use this morning affirmation playlist on Spotify) I know it sounds silly but it is super powerful to speak positively to yourself, try it!
To what do you attribute your success most?:
What I do that makes me the most successful is being completely honest, providing great communication, and lastly always acting with kindness and compassion. I think being a good person and staying humble goes a very long way for business and personal life as well.
What was the most difficult thing you had to overcome when first starting your real estate career? Or that still challenges you to this day?:
The most difficult thing that I had to overcome when starting my real estate career was social media. You have to really utilize social media for your business and this is something I am still working on to this day!
What’s the transaction you are most proud of so far?:
The transaction I am most proud of has to be when I helped a veteran who was a quadriplegic, we were only able to communicate through email throughout the entire transaction and at the end of it, he had the biggest smile moving into his great home in Windsor right before Christmas.
What is a unique aspect of the Sonoma/Mendocino/SF County Residential real estate market?:
The unique aspect of the Sonoma County Market is that everyone can truly buy. Whether is a manufactured home, condominium, or single-family. It is possible and I think Sonoma County is forgiving about that. I know that everyone says how expensive it is however if you plan for savings, set the goal and apply yourself. You’d be surprised!
If work-life balance is important to you how can you tell if you’re are getting it right?:
Work-life balance is really important. The way I can tell if I do it right is by taking time for myself. The way I do this is by working out and disconnecting from my phone at night.
What was the best vacation you ever had?:
The best vacation I’ve ever had was going to Barcelona and Paris because it was so gorgeous to see another country and be in a new environment. Bali, Indonesia is next on my list and I know that is gonna be even better!
If you had one piece of advice to someone just starting out in real estate, what would it be?:
If I have one piece of advice to someone just starting out in real estate it would be to be honest and care about your clients. Honestly, people can feel the energy when they meet you, they want someone they can trust and by being honest- that is one easy way they can trust you. Then by being kind to other clients and agents you will attract the positivity you need!
Hosting Guests for the Holidays | How to Prepare Your Home
Welcoming holiday guests
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One of the best things about the holidays is spending time with friends and family. It can even be more exciting if you are welcoming them to your home; however, hosting guests comes with its fair share of stress and anxiety. How do you know they are comfortable? Is everything in the right place? The good thing is, with proper preparations, you can be sure your home is ready for company.
Hosting guests during the holidays does not have to be stressful. Here are a few things you can do to get your home ready:
Start preparing early
When it comes to preparing for your guests, it is advisable to start your preparations early; otherwise, you might find yourself scrambling at the last minute or leaving other things unattended. For your early preparations, you can try to do your gift shopping and organize your home early on, and leave activities like tidying up the guest rooms and deep cleaning to the final days before your guests’ arrival.
You can also make some meals and treats in advance to avoid being so busy when others are out there enjoying themselves. Indeed, early preparations help to get everything in order before arrival day.
Declutter
If you have items lying around the house, this is the perfect time to put them where they belong, sell them, or in the spirit of giving this holiday season, donate them. Besides making the house look tidy, decluttering helps you to focus your cleaning and organization of items around the house. Plus, if you intend to put decorations up, you won’t have a lot of things in your way.
In your decluttering, focus more on guest rooms and public areas, including the kitchen, dining room, living room, and foyer. You can store all the necessary items in the basement or out-of-the-way closets and sort them out later when the guests leave.
Focus on the front entrance
As the first place your guests see, your entryway should be clean and free of clutter. A few things to do to create a good first impression may include:
- Place a rug at the entrance to protect floors from getting dirty
- Remove all the clutter like shoes and other items in the entryway
- Add hooks on the walls for guests to hang coats and hats
- Add a storage bench for guests to remove shoes and boots
If you live in cold climates, be sure your driveway and walkway are clear of snow and ice. You can also set up a ‘drying station’ for guests to place their wet clothes and shoes.
Update the guest rooms
Going the extra mile to make your guests feel at home can help create a good holiday atmosphere. Beyond the usual cleaning, make sure there are enough sleeping spaces for all the guests. Also, provide enough clean and fresh bedding, and don’t forget to provide a space to unpack and place their clothes.
Having a light next to the beds and an easy way for them to plug in devices is also a necessary consideration. More importantly, make sure the bathroom is clean, and your guests can access the necessary bathroom supplies at their convenience.
Add night lights
Installing night lights around your home ensures your guests can move around without any trouble. You can put motion-activated sensors in the hallways, bedrooms, and bathrooms to ensure safe passage at night. Even better, having a light next to the beds allows them to read and check their phones as well as navigate the room safely.
Make subtle décor shifts
The holidays are a time for a little switch in the outlook of your home, and what better way to change things a bit than to add some simple décor items? Changing the blankets and covers to a warmer set, adding a coat of paint on the walls, and rearranging furniture to create a different vibe, are some of the ways you can change the feel of your home. Depending on what your preferences are, you can have as much fun as you want with your décor shifts.
Indeed, there are so many things you can do to prepare your home for holiday guests. These tips can help you better prepare yourself and your home for hosting guests this holiday season.
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Agent of the Month – Will Lance
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Congratulations to our December Agent of the Month Will Lance! Will possesses an incredible passion for Sonoma County and the real estate market, a drive to stay connected with his clients, and the connections and knowledge to not only get the job done but go above and beyond. Keep reading to learn more about this W Real Estate all-star, Will Lance!
To what do you attribute your success?
I personally love what I do every day. Meeting new people, marketing beautiful wine country estates, and hunting down unique properties for my clients is both exciting and fulfilling.
Throughout my career, I also have been very fortunate to work with and learn from some very talented and hard-working agents and brokers.
What’s the biggest mistake you’ve made in your business or the single best thing you’ve ever done for your business?:
The biggest mistake I made early on in my career was being inconsistent with prospecting. Getting systems in place to regularly market and generate new leads has been instrumental in growing my business.
The single best thing I have done in my real estate career has been investing in residential income properties. This has allowed me to have a constant income stream, making it easier to navigate the ups and downs of the industry.
How do you balance giving personal attention to your clients while still trying to automate your business?:
I’m pretty much on my phone all the time and I don’t really mind it. If I’m not talking to clients, it’s to my friends and family. I do have systems in place to stay in contact with my previous clients and when I am actively working with someone on a listing or purchase I am available anytime.
How have you adapted your marketing/business during the era of Coronavirus (COVID-19)?:
Zoom has been a great tool for client interaction, as well as MLS meetings and trainings.
What is a unique aspect of the Sonoma/Mendocino/SF County Residential Real Estate market?:
My wife Laura and I live in Healdsburg with our 18-month-old son Drew. We absolutely love the restaurants, wineries, the river, parks, and community. Healdsburg’s residential real estate market is unique in the fact that many people live in Healdsburg part-time. We are lucky enough to call Healdsburg our full-time home.
If you could only do one thing differently when you first started your business what would it be?:
I wish I would have spent more time perfecting my database and maintaining relationships already in my network instead of pursuing online leads.
If work-life balance is important to you how can you tell if you’re are getting it right?:
Working hard, but taking the time to relax and celebrate successes with family and friends is balance in my opinion. Even if it is just a date night out, spending time celebrating wins with your family is important.
What was the best vacation you ever had?:
Honeymoon in Bora Bora was fantastic!
If you had one piece of advice to someone just starting out in real estate, what would it be?:
Show up every day. Watch what the successful agents in your office are doing and try to emulate them. Find a mentor. Be full-time.
Agent to Watch – Carlee Peters
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Help us send a big congratulations to one of our December Agents to Watch, Carlee Peters! Carlee decided to take the leap into the real estate industry during the COVID-19 pandemic. And despite the changing landscape ahead of her, Carlee has been able to mold and shape her business practices into a driving force of success. Keep reading to learn more about Carlee!
Why did you choose to pursue a career in real estate?
Every day brings a new combination of things, new people, new properties, new obstacles to get past, no two days are ever the same. I never stop learning. I love working with people and everyone has a story, each one fascinates me. It’s the people I meet and the life stories they share with me. Just one more reason I love my job.
How have you adapted your marketing/business during the era of Coronavirus (COVID-19)?
You know, I started my career in real estate during covid and that’s really all I know. Almost everything I do is virtual and it’s made so easy these days. We connect online or through phone or text, and when it’s appropriate, meet safely. Most of my business/marketing is through social media. It has been really nice having that as an option to reach so many people.
What’s the best thing that happened to you this month?:
Wow! Business related, I have joined Sonoma County Home Group. It has been in the works for a while now, but it’s all official and I couldn’t be happier. I think we all complement one another pretty well.
Are you a morning or a night person?:
Morning! I am ready to get into bed by 8. I don’t go to sleep that early, but I am usually done with my day by then, and I will forget not everyone is a morning person and I find myself responding to messages at 6 am. Whoops!
What is one of the things you would put on your “bucket” list?:
Trip to Italy.
What is something you wish you could be good at?:
Golf
What is something most people would never guess about you?:
I love 90s country music.
Must have purse/car item:
Laneige lip mask, it’s a must!
What does a perfect day in Sonoma/Mendocino/SF County look like for you?:
Well since I was born and raised here, most of my days look amazing. I would say coffee with friends, lunch, maybe some wine tasting, and always a little shopping.
What’s your favorite local restaurant?:
Willis Wine Bar
Agent to Watch – Gianni Lamperti
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Did you know this W agent used to race bicycles? Or that he lived in Europe while doing so? Allow us to introduce one of our newest agents, and a December Agent to Watch, Gianni Lamperti! Keep reading to learn more about this Sonoma County native, and what brought him to the real estate game!
Why did you choose to pursue a career in real estate?
I chose to pursue Real Estate when I moved back to Sonoma County after attending Pepperdine in Southern California. It is a career that I grew up around and thought what better way to live in Sonoma County and help people achieve their dreams with the knowledge that I have!
How have you adapted your marketing/business during the era of Coronavirus (COVID-19)?
I have learned how much of an influence social media can have and look forward to growing my business through social media.
What’s the best thing that happened to you this month?:
The best thing that happened to me this month was being able to spend the day with my family getting our cattle ready to put out on the range for spring grazing!
Are you a morning or a night person?:
I would say generally morning, but I can rally for both!
What is one of the things you would put on your “bucket” list?:
I would have to say visiting all the continents in the world minus Antarctica( a tad chilly for me). I have been to everyone except Africa and South America!
What is something you wish you could be good at?:
I wish I was better at remembering where I put things!
What is something most people would never guess about you?:
Generally, people would never guess that I raced bicycles and lived in Europe while doing it!
Must have purse/car item:
I always have to have my sunnies!
What does a perfect day in Sonoma/Mendocino/SF County look like for you?:
A perfect day would start with an early mountain bike ride in Annadel, followed by a day on the boat with friends at Lake Sonoma, and some Mexican food for dinner on the way to the airport before a sunset flight over the Sonoma Coast!
What’s your favorite local restaurant?:
Tough choice, but I would have to say Riviera Restaurant.
Agent of the Month – Rob and Vicki Thiessen
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Congratulations to our November Agents of the Month, Rob and Vicki Thiessen! Ever since joining the real estate industry, Rob and Vicki have found a way to combine their stellar people skills and customer service tactics with their extensive knowledge of Wine Country real estate to provide unparalleled service for their clients. Keep reading to learn more about Rob and Vicki, and their future plans for success with Thiessen Group!
To what do you attribute your success?
We are fiercely committed, resourceful and coachable
What’s the biggest mistake you’ve made in your business or the single best thing you’ve ever done for your business?:
The biggest mistake we made in our business is to think we can do everything. Our goal is to build an amazing team because in the end, it isn’t the technology or marketing; it’s the people.
How do you balance giving personal attention to your clients while still trying to automate your business?:
Our clients know that they are a phone call away …. or a text. When we first meet with clients we let them know what they can expect from us, and vice versa; it’s a win-win situation. We use automation for business operations and marketing.
How have you adapted your marketing/business during the era of Coronavirus (COVID-19)?:
Zoom is our friend as well as virtual open houses, 3-D floor plans, and Face-Time to show properties to clients who can’t make it to the home. We are also committed to having a video presence so people can get to know us before we meet in person.
What is a unique aspect of the Sonoma/Mendocino/SF County Residential Real Estate market?:
Most often people come to Sonoma County to vacation. But, when they experience all our county has to offer: the beauty, the opportunities, the food and wine, great weather, hiking, diverse landscape they can’t help but want to move here.
If you could only do one thing differently when you first started your business what would it be?:
This has more to do with our team……rather than having our business revolve around us we want to create a profitable model that creates raving-fan clients and empowers the agents on our team to succeed without our constant attention.
If work-life balance is important to you how can you tell if you’re are getting it right?:
If we feel frazzled and bored at the same time we know it is time to step back and look at the big picture; what are our goals and what are our core values? Real estate is the one opportunity that challenges us and at the same time doesn’t feel like work.
What was the best vacation you ever had?:
In resounding agreement …… 3 weeks in Italy!
If you had one piece of advice to someone just starting out in real estate, what would it be?:
Join a team ~ Be coachable ~ Be willing to invest in yourself.
