When I started in real estate years ago, I was an Apartment and Investment specialist. Mostly 2's and 4's. And of course it was always great to get into an exchange on a 20 unit!
In the late 1989 I recall reading the L.A Times Apartment Sales report. Like one building over 20 units had sold in the whole County. It was then I thought I had to switch over residential if I was to survive.
This from NAR :
The fundamentals in commercial real estate remain healthy with only slight increases in vacancy rates expected for the office and industrial sectors during 2008. However, credit restrictions have recently slowed overall investment activity, according to the latest "Commercial Real Estate Outlook"of the NATIONAL ASSOCIATION OF REALTORS®.
“Although vacancy rates remain relatively low for all sectors, they are expected to rise slightly in the office and industrial markets during the coming year because much of the space being absorbed is in high-quality buildings or is built-to-suit,” says NAR Chief Economist Lawrence Yun. “As a result, there is a fair amount of older space on the market, particularly in the industrial sector where obsolescence is a factor, although industrial rents are showing healthy gains. Vacancy rates in the retail and multifamily sectors are projected to tighten in 2008 with rents rising in all sectors.”
So maybe this is a grass is greener on the other side scenario, However I have to believe that the riches are in the niches. The biggest mistake Realtors make is trying to be all things to all people. It doesn't mean you have to give up what you are doing necessarily. The great thing about real estate is that you can target under another market identity if you like. From different business cards for each of your niches, to even perhaps a different name.
I know agents that have a unique condo site, a unique home site, ocean view sites, etc. For just one small town! These are targeted and will attract a new set of eyes to their business.
This is true. You can market in lots of different ways and identities. However, when it comes to internet marketing, maintaining different sites can be difficult and time consuming and in today's internet real estate market being as competitive as it is, being at the bottom of the search rank doesn't help you at all. I suggest keeping yourself focused on your very own niche and invest your time and energy in getting up your rank. Being in the first page of google WILL translate in to money. As buyers are out there they're just clicking on the site at the top.
Posted by: Javier | December 29, 2007 at 09:28 AM
I shoot a lot of aerials here at Michigan in Ann Arbor, football stadium aerials and real estate.
I have aerials of a lot homes,close-up . You can shoot from the air and easily have 6 homes that are for sale in your shot at 1000 feet, shooting from a high-wing cessna 182. I shoot a lot in the spring and fall to avoid the leaves on the trees. In the last 2 years of shooting I now have over 500 clear digital images that can be enlarged to 20x30, not that any body needs one that big of a house to sell the house. I am now making these photos available to Realtors in Ann Arbor who would never of thought of buying an aerial for $250.00 15 months ago, cheep under $20. I would like to get your thoughts on this. you can see some of my real estate work (aerials) at shutterfly.com/pro/tkelly/lakeforest.
Posted by: Tom Kelly | January 27, 2008 at 08:23 PM