Press Release_May 2016_Twitter

Realync Adds Multiple “Top 50” Multifamily Players

Realync is proud to announce its latest company growth focused on the multfamily industry. Major multifamily players across the U.S. like LivCor, Fairfield, Waterton, Milhaus, Pan American Properties, JC Hart and several others have successfully rolled Realync out to over 60 communities. These multifamily players alone account for over 2,300 communities across the United States providing lots of continued growth with Realync in the coming years.

Read more in today’s press release!

Realync bridges the gap between still photos online and physically being at a property in person by providing leasing teams the ability to instantly connect with prospective tenants via an immersive real time experience. These leasing teams at communities across the United States are increasing their conversion rates and decreasing the time it takes to close a deal by utilizing this instantaneous connection with prospects to show them exactly what units are available and exactly what they, the potential tenant, want to see.

“We’re absolutely thrilled to add these incredible companies to our customer portfolio,” said Ani Rangarajan, COO and Co-founder, Realync. “It’s an honor to work alongside these national players to help them make their leasing teams more efficient and keep their communities leased. Our focus is multifamily because of the needs identified and almost instantaneous results that we’re collecting. There are over 20 million multifamily units in the United States alone with hundreds of thousands added each year; so the opportunity couldn’t be greater.”

“At LivCor we are constantly seeking innovative solutions in the ever-evolving multifamily marketplace,” said Samantha Skrobot, Marketing Manager at LivCor. “Partnering with a creative digital provider like Realync enables us to actively participate in shaping the future of residential real estate.”

“Our closing percentage is 75% when using Realync with prospects,” said Matt Mehon, Leasing Manager at Waterton. “Yes, 75%. Having the option to tour virtually and send pre-recorded videos is great and has completely changed the way we interact with our prospects to experience our community.”

Since our public launch in March of 2015, Realync has accumulated users across the United States, in over 47 states, and around the world, in over 30 countries.

Want to learn more about the incredible conversion multifamily communities are experiencing or learn more about the platform itself? Visit http://www.realync.com or reach out to us to learn more!

Happy touring!

December Product Update

We are incredibly excited to announce that today, Realync version 2.5 launched in the App Store!

Check out the announcement from Realync CEO, Matt Weirich:

Want to learn more? Download the app for free today or message us to setup a personalized demo of the platform.

We are excited to see you on Realync and look forward to seeing you make your #realestate #realtime!

Keep it real!

 

liseykina_151777982

Tech Shakeout on the Horizon for Real Estate

“It’s pretty easy to get a meeting if you are disrupting something in real estate,” said Richard Sarkis, CEO of Reonomy, a startup that evaluates commercial real-estate data.

Investors are always scouting tables for a chance to jump in on the game. They know if bets are placed correctly on a disruptive startup, the payout can be huge. Large companies are able to leverage a successful startup’s technology and extract massive data sets with which they can use to better understand housing market conditions, home-buyer demographics, and commercial real estate drifts, among a pool of other trends. Therefore, investor ears are always perked up. They are listening for the footsteps of promising tech startups – especially of those belonging to real estate.

And rightfully so.

The Federal Reserve currently values U.S. real estate at an estimated $40 trillion, making it the largest asset class in the country. To feed it’s hunger, an estimated $1.4 billion is expected to be invested in real estate tech startups this year, which is up from $1 billion last year and $438 million in 2013. This growing pot of gold has left many entrepreneurs hungry for a piece of the loot. Unfortunately, many of today’s hopefuls are blinded from what constitutes meaningful change.

“The reason there’s a graveyard of technology companies in real estate is they try to disrupt just to disrupt,” said Robert Reffkin, chief executive of Compass, a technology-driven real-estate brokerage. “Just make it better.” And it’s that mentality that has resulted in real-estate firms adopting technology at a slower pace than those in other businesses. New startups that enter the market look to capture the business of both residential and commercial brokers without consideration.

Tech firms simply do not account for the hand-holding that buyers and renters desperately need when starting the property hunt. They are under the delusion that by eliminating the middleman, an agent, the industry will become quicker and smarter. This is foolish thinking. Instead, they should focus their efforts on integrating their technology and data tools into the day-to-day operation of brokers and agents. Only then will real estate see an overall improvement in the customer experience.

But given the breadth of the real estate industry and how early it is in the game, there is a lot of hope in technology firms to disrupt effectively. A piece of advice from Brad Svrluga, partner at Primary Venture Partner, is for entrepreneurs to study history. By looking back at the last 5 years and seeing when and how disruption took place in other industries, entrepreneurs can predict tomorrow’s shortcomings and leverage that information to see what it takes to hit the market with impact. After all, this is an antiquated industry begging for change. All it will take is a little fanning for the fire to roar.

Until next time…Keep It Real!

LA Home Staging

Top 10 Home Staging Tips Before Holding a Live Stream

Nothing can sour your buying or selling experience more than an improperly staged home. It’s very easy to undervalue this step in the selling process as most of you are in the midst of finishing paperwork, packing boxes, switching utilities, saying goodbyes, or carrying out a laundry list of other things. But not considering proper staging is a grave mistake that will leave buyers uninterested in your home and you feeling a little uneasy.

So before you start to question why your neighbor’s home was stickered SOLD in less than one week and why yours has been sitting on the market for a little too long, here are our

Top 10 Tips To Properly Stage Your Home

  1. A Fresh Coat of Paint: Nothing says “work” to a potential buyer than having a house with a broken and worn-out color. Applying a coat on the inside and outside (color guide) will instantly bump up your house’s appeal and bring it back to life.Paint - Home Stage
  2. Bathroom Essentials: New shower curtains and thick towels give the bathroom a clean padded look and a candle can add a warm touch. It’s also important to keep no more than one conditioner, shampoo, and liquid soap in the tub or shower. A buyer’s mind doesn’t need to be playing Jenga with your tower of toiletries in the corner.Bathroom - Home Stage
  3. Remove personal photos/items: Don’t forget to remove all family photos, wall hangings (aside from art work), and personal items. These all distract buyers from envisioning themselves in the home – they instead become absorbed in your lives.
  4. Declutter: Any extra furniture, magazines, packing boxes, etc. should be removed from sight so that the room can breathe. If possible, look to rent out a storage unit early so that items can begin to find their way out. Things that can and should be placed out is a nice china set at the kitchen table, a bowl of fruit or a vase of roses, fresh plants, and matching décor.
  5. Clean The Home: Of course, a vacuum and steam should be performed to remove any carpet stains. And a polish/wax should be applied to hardwood flooring to really make it shine.Hardwood Floor - Home Stage

But it’s important to remember that the boundaries of the home start well outside. So before your home goes live to every mobile viewer out there, take note of these 5 tips for the exterior:

  1. Large House Number: A sheepish and shy home is not one that potential buyers can be proud of. By displaying the house number front and center, in big bold numbers, you allow the house to firmly stand its ground.House Number - Home Stage
  2. Front Entryway: The front patio or porch should be swept and sprayed with a pressure washer (as well as a backyard deck). Additionally, if your home has a swing, then make sure to wash any covers and to plump up cushions. And furthermore, wipe down all outside porch lights and walkway lighting. It’s essential the first walk up to the home be a clean one for a buyer.Porch Swing - Home Stage
  3. Empty Driveways: It’s best to park the car on the street so that the view of the garage is not blocked. Again, it makes it difficult for potential buyers to envision themselves in the home if it already seems like occupants live there.
  4. A Little Yard Work: Even your hedges need a haircut. A freshly mowed and raked green lawn with planted flowers around the perimeter of the home really shows that the home is well-taken care of and that it’s more likely the inside is in great shape as well.Yard Work - Home Stage
  5. Straight Mailbox: Let it stand straight and without dents. A mailbox that looks like it came out of a 10 round boxing match or is leaning over ready to fall asleep will turn off your audience quicker than flopped open trashcans at the curb (another one to watch out for).Mailbox - Home Stage

Of course if you wish to go above and beyond, it would be wise to talk to home staging professionals and your agent to weigh the cost vs. benefits. This is especially important to consider when live streaming your home. Keep in mind that live streaming with an agent allows you to reach a much larger audience, which is why it’s important to leave your best first impression as a seller, so you can make sure to receive the best offer from a buyer.

Until next time…Keep It Real!

Stock Image 53

The Mental Game – 4 Real Estate Agent Hacks

Imagine this: you generate new leads and are now tasked with setting up appointments. Looking at your calendar, you consider the location, day, and time for all the property tours. You have openings at 10 a.m., 3 p.m., or 4 p.m. on Monday, Wednesday, and Friday. With many options throughout the week, the question really is – “Which time will my client be able to most enjoy the touring process?”

A recent New York Times Magazine piece on “decision fatigue’ highlights the relationship between mental energy and decision making. Social psychologists study this concept to understand how a series of decisions are made throughout the day. It helps explain why people have meltdowns in front of colleagues and family, skip healthy meals to binge on comfort food, or are sweet-talked into a donation by a clipboard-carrying-humanitarian simply looking to spread a good message.

“No matter how rational and high-minded you try to be, you can’t make decision after decision without paying a biological price.”

But, how does decision fatigue work in the world of real estate? Well, as an agent or broker, you are taught to sell. And not just properties. You have to be charismatic, organic, and friendly so that whoever you interact with feels like they can trust you as a person. Ultimately, you have to sell yourself.

Quite often however, there’s more to the “big win” than the shine in your eyes and the cut of your hair. There are certain biological factors that influence the decision making process.

So heading into your busy workweek, here’s how and when to take control of those factors:

  1. Schedule meetings as early in the day as possible. We suggest between 8-10 a.m. before the day picks up, but after breakfast. Buyers have clear minds when they aren’t worried about picking up their kids, grabbing items at the supermarket, or rushing against the clock to finish a report. There is no chance of them giving you their undivided attention at four in the afternoon when they are running low on fumes.
  1. Attract them with something that is hard to resist. Like a lotto ticket at the front checkout counter, the end of your tour should leave them excited and hopeful of the future. How about starting a conversation of what a spare room could look like? Perhaps offer to negotiate with the seller for a sweeter deal. Or show how their home’s value will appreciate over time. And always suggest other properties to tour in the near future – don’t let them feel like this is the end of the line.
  1. Feed them. The study shows that any intake of food (no matter how delicious) leads to an increase in glucose levels, which helps fuel brainpower and strengthens the will to say yes. Buyers that are on an empty stomach are thinking of three things only – whether to get a burger or salad, if they want a side of fries, or if they should ditch all plans, hit speed dial, and just order a pizza for themselves. Remember, your priority is not just to sell the unit, but also to create an honest and positive experience for the buyer, so that when they do come across what they want, their head isn’t elsewhere.
  1. Generate buyer competition with mobile live streams. Spark interest by creating an environment where buyers and renters can come together, engage with an agent, and create personal video databases of live tours. Hosting open houses through real time tours is a great way to not only eliminate many pressures off yourself but also to breed competition among clients. No future home-owner wants to act late and miss out on their dream home, especially when the competition is staring them right in the face. By placing everyone in a virtual room during a scheduled tour, the mind becomes more attentive and people become more aware of what’s at stake.

And so, as you move forward, creatively employ these real estate hacks to uncloud your buyer’s vision – make the decision making process as simple as possible for them. You will quickly notice the improved difference in deals closed and leads generated by making the most of every touring experience.

Until next time…Keep It Real!

Airbnb's Positive Impact In Chicago

Marveling at Airbnb’s Growth in Chicago

We know that when great vision is paired with great execution, there is enormous room to make social, economic, and environmental impacts. And that is exactly what we’re witnessing from Airbnb. To those that may not know, Airbnb is a platform that helps travelers find alternative lodging options. It connects users to a listing of homes, condos, and apartment units acting as hotel-substitutes – with most being rented out at a cheaper rate.

Since their launch into the Chicago market in 2009, the masses have been opening their doors to strangers. In doing so, they have not only disrupted the travel industry much like how Uber has done to transportation, but they have quickly covered Chicago’s 70 neighborhoods with an Airbnb quilt.

In fact, Airbnb’s rise to the powerhouse that it is today is incredible. This infographic showcases the company’s climb from its humble beginnings in 2007 (two guys renting out air mattresses) to its towering $10 Billion valuation in 2014 (soon to be $20 Billion).

The Social Impact

But who exactly are these kindhearted souls handing over their spare keys to the frequent out-of-towner?

Well, statistically speaking:

  • The average host is 39 years old.
  • A quarter earn less than $50,000 a year.
  • 20% work in education and health services sectors (the most popular category according to the report). That is followed by 15% in professional and business services, 14% in art, design, and creative services, and 11% in leisure and hospitality.
  • 80% rent out their primary residence with the majority (60%) renting out the entire unit. The other fraction (36%) rent out a private room, while the remainder (4%) share a room.

Airbnb - Stat

And between July 2014 and June 2015, this quilted patchwork of 4,550 Chicagoans hosted as many as 165,800 guests – 25% of them being international. Many of these guests however have similar motives. Next to deep-dish pizzas and pictures with a certain bean, many of today’s tourists are just looking for a unique experience. They simply want to live like locals, to get a true sense of what it feels like to have a Chicago doormat.

Airbnb - Stat 2

In fact, Airbnb’s recent partnership with real estate giant, Realtor.com, allows for just that. While surfing real estate properties to actually purchase, consumers can now peruse Airbnb listings in the surrounding area and even book a night or two to experience the neighborhood before moving there. By holding a “trial period” at an Airbnb, many are now able to get a true community feel before making any life-changing decisions.

Airbnb - Before Buying

Additionally, an added beauty is that hosts do not mind opening up their doors to foreign faces. In fact, they get excited to do so. Hosts love being able to meet and share stories with people from across the globe. The Airbnb experience has evolved into a grid of real time connections that is unveiling the world one conversation at a time. Through this platform, Chicago is building communities, encouraging cultural exchange, and toughening empathy and understanding.

“The best part of the Airbnb experience has been learning about different countries and cultures. I’ve been able to host people from Taiwan, India, West Africa, Mexico, Central China, and several other countries – and it has been wonderful! Being able to learn about other people’s lives and experiences is a value above any monetary benefit one could have. I’ve literally made friends through Airbnb and met people that I genuinely care for. This has been a wonderful experience!”   -Chicago Airbnb Host

The Economic Impact

But it’s not all just one large game of networking. Hosts have funneled themselves to Airbnb because of their common interest of pocketing a little extra cash. Over the past 6 years, Airbnb has helped many Chicago residents make ends meet. The typical Airbnb host nets $8,300 after renting out his or her apartment 77 nights per year – or just over 6 nights per month. Although a modest sum, this income has helped over half of users pay their mortgage.

Airbnb - Stat 4

And the far reaching distribution of bed & breakfasts has also supported the economies of many Chicago neighborhoods that normally would not see such income. We did mention Chicago has 70 neighborhoods, right? With such geographic diversity comes cultural diversity. Airbnb visitors look to explore places outside River North and the Loop’s well-defined concentration of hotels. And as a consequence, business thrives in proximal towns.

Airbnb - Stat 3

The Environmental Impact

Remarkably, Airbnb’s business model has also been able to make Chicago a little greener in the process. By helping Chicagoans share their homes, Airbnb supports the efficient use of existing resources and encourages a more environmentally sustainable mode of traveling. As a result, Airbnb has quantitatively seen reductions in energy and water use as well as a cut in greenhouse gas emissions and waste. This type of travel is bringing greener pastures to Chicago and cities alike.

Airbnb - Stat 5

It’s exciting to see how one company’s vision for how people could travel has not only changed an entire industry, but is helping cities prosper and grow on the backs of the residents that live there!

Until next time…Keep It Real!

Real Estate Tech

Market Update: The Next Wave of Real Estate Tech

 

  1. Contrary to popular belief, agents are not a tech-phobic group!

Ask 100 real estate agents what they feel the best apps are for business and you’ll likely receive 100 unique lists composed of different tools. That’s because no two agents are similarly orchestrating the collection of tech platforms out there. And no two agents are seeing the same level of success.

Having said that, more than half of agents who recently completed an Inman survey checked off nearly a dozen tech tools they use in their practice. And with real estate being a tech-heavy business, there is no shortage of cold hard cash looking to back the latest tech development.

But the growth rate of tech is a double-edged sword. With a flurry of tools constantly hitting the ground running, what agents need most is a way to sift through the noise. Agents call for resources that make technology easier to understand – usually in the form of support from tech companies themselves.

“The tech market in real estate is extremely saturated. The biggest obstacle I have is sifting through all of the crap companies to find the ones that actually provide value-added services,” one agent said in the Inman survey.

And it’s easy to sympathize – especially after recognizing that an agent spends an average of about $5,600 per year on their biggest tech investment. With such a large sum coming out of pocket, it would be useful to pinpoint the ROI on that tech. But often it’s difficult to do so when it’s partnered with many other tools. One agent likened it to a carpenter measuring the ROI of a hammer – it simply can’t be done.

However, amongst those who did have a grasp on their ROI, the most commonly cited measurement was the number of closed deals the tool produced. Time saved also factored in.

“Tech either has to save time, provide incredible client value, or directly support lead gen or conversion”.

  1. So which tools are agents most commonly using now?

When asked to select the top three tools most crucial to their business, it came as no surprise that agents overwhelmingly chose one that has been around longer than most, if not all, of the others – the MLS. It was followed somewhat distantly by mobile devices, a CRM platform, and electronic forms and signatures.

Most Important Technologies

  1. Outlook

And when agents were asked which tools they would like to implement in the coming year, the results came in as follows:

  • Video software took the majority (33 percent)
  • Social media management tools followed close by (29 percent)
  • And next was lead generation tools, other than advertising on the three major third-party sites (29 percent).

Technologies to Adopt

  1. What’s Coming Out Now?

Here’s a look at this year’s wide-ranging 16 Real Estate apps agents can use to help their business. Whether consumers are looking to property hunt, rate potential investments, or track trends in commercial real estate, there’s an app for it.

But with the recent fervor of live streaming and insight into the power of video to connect with a larger audience, agents are ready for the next wave of tech adoption.

At ReaLync, we answer the high demand for video software through our live streaming technology.

To better understand what live streaming is and how its unparalleled growth can help you in Real Estate, join our interactive Webinar on Sept. 24th from 1-2pm EST! We are excited to partner with our friends at Contactually to bring to you an in depth look at how you can leverage live streaming in the world of Real Estate. Save your seat now!

Contactually ReaLync Webinar

Until next time…Keep It Real!