Listen here
Recently, I had the privilege of being a guest on the Think Bigger Real Estate Show, hosted by the amazing Justin Stoddart. It was an insightful and thought-provoking conversation, and I’m thrilled to highlight a few key takeaways from our discussion.
In our talk, we explored various chapters, each offering valuable insights into the real estate industry and beyond:
- “Unlocking Success Beyond Real Estate”: We discussed the importance of thinking outside the box and solving bigger problems to stay relevant in a changing market. It’s all about expanding horizons.
- “Adapting and Thriving in Changing Times”: We dove into the need for real estate professionals to adapt to new environments and find alternative paths, uncovering opportunities ahead of the competition.
- “Innovative Strategies to Expand Your Real Estate Business”: Discover how finding your niche and thinking big can transform your approach to the industry. It’s about looking at the broader picture of housing, beyond just closing deals.
- “Solving Bigger Problems and Networking for Success”: We explored the significance of tackling significant housing issues, such as affordability and homelessness, while networking with influential individuals who can guide opportunities your way.
- “How Real Estate Professionals Can Drive Change and Attract Opportunities”: We discussed the power of industry participation, believing in oneself, and providing value to the public, not just buyers and sellers.
- “Simplicity, Openness, and Giving: The Keys to Expanding Your Real Estate Horizons”: Find out how simplicity, sharing even the most basic information, and giving back can lead to growth and success.
I’m genuinely excited to share these insights with you, and I hope you’ll find them inspiring. You can listen to the full episode right here.
Thank you for being a part of this journey. I look forward to sharing more thought-provoking conversations and insights with you in the future.
Warm regards,
Eric
Growing up in Santa Fe, New Mexico and Tulsa, Oklahoma, I developed an affinity for the seasons. Delightfully, here in Portland, we get a wonderful taste of all four seasons, from the *generous* rainy season to some gorgeous spring days, a handful of summer scorchers and even some blustery snow days. The variety is as welcomed as it is vital, to my mental state anyway. Even the recent ice storm was something to behold. While entertaining in its drama, it was certainly disconcerting for many of us. And yet another reminder of how dear it is …our place called home.
In-person tours are still an option in many cases when necessary, but with precautions we take very seriously. We recommend live video tours for anyone that has cold or flu symptoms or concerned about a possible COVID-19 exposure. This goes for clients, as well as, agents. Our agents are following the recommended 6 ft of social distancing and strict hand-washing and disinfecting policies. Our agents provide our COVID-19 Safe Showing policies to clients for review prior to visiting any property in-person so you can make the best decision for your health and safety.
And just like that, it’s February 2020. If someone asked you when you were a kid what you thought 2020 would look like, did you picture this? I visualized space travel, robots, flying cars, lasers and futuristic stuff…not this everyday adulty life gig.
prices” part though. Affordability is a major concern. The chasm between the cost of Portland real estate and our median household income seems to be growing. Jobs are coming but wages haven’t caught up and the cost of living keeps climbing. This pushes buyers to outlier markets (Vancouver, Milwaukie, Beaverton, Oregon City, etc). For the urbanites that don’t want to pay for the high priced houses but want to stay in town, they’ll drive demand in the ‘attached’ market (townhouses/condos) which had a slow 2019. This will stabilize pricing in the attached market. Properly priced, well-presented, detached houses from the $200k to $1m range will continue to fly off the shelf. The $1m-$1.5m market is a ‘move up’ market for many wanting to upgrade from their existing home . This market presents opportunities for buyers to make a great purchase; however, tapping their “trapped equity” from their existing home in order to make this purchase can present challenges (certainly not insurmountable but can be daunting to the client). In surprising fashion, Portland’s upper end market ($1.5m +) is moving at a pace you may find interesting (fast). Of course, these properties need to deliver the full package to fetch the price, but this market segment seems very confident in Portland as a place to make these big purchases. I find these big numbers surprising as I clearly remember how freaked out I was when I bought my first house in Mt. Tabor for $185k. However, like many other places, we are bursting at the seams. The numbers for incoming population growth are staggering which in real estate economics translates to demand. Portland is in high demand which has all but diminished the lower end of the market and made it feel normal to buy and sell very expensive real estate. 
Even though we’re not living in the Jetson-like society that I envisioned as a kid, 2020 is chock full of new and exciting stuff: self-parking, electric cars, virtual reality, and an impressive (and concerning) amount of technology & connectivity. At the push of a button, you can have almost anything you want delivered to your doorstep within hours. Heck, you can push a button and order up a random Realtor to open up a house for you (but how dare you do that!). Real estate is no exception to the expectation of today’s “now society”. As professionals, our response time must be faster, our knowledge deeper and our ability to navigate this market must be sharp and focused. One thing that technology can’t change, is the human factor that is necessary to create happy buyers and happy sellers in real estate transactions. This is our wheelhouse. We embrace today’s disruptions & technology and use them as tools to enhance our clients’ position and experience; however, we feel more strongly than ever that real estate is a people business and we are here to stay. 
they drive up to your home and the landscaping is nicely manicured, the walkway is clean, there are welcoming potted plants at the front door, the door itself is inviting, the windows are clean, the exterior paint is in great condition, perhaps there are even a couple of nice chairs or a porch swing (if applicable), it will create a positive first impression. Remember you are just trying to set the stage that tells the potential buyer this is a quality home and a lot of care has gone into it.
important for building on that first impression. Take extra care to make this space as warm and inviting as possible. Also, notice the scent of your home when you enter the front door (this is especially important if you have a pet). A nice scent helps create an inviting atmosphere that works on a subconscious level with the prospective buyer. Nothing will dissuade a buyer faster than “house-a-tosis”. It’s important to correct the odor instead of covering it up if it’s due to mold or carpet damage caused by pets, etc. Stay away from heavy perfume scents or anything overbearing. Freshly cut flowers in the entry and throughout the house can provide some natural scent and add extra beauty and warmth to your home.
collection of widgets, but a prospective buyer might be distracted by all of the clutter. You want the buyer to look carefully at your home, not your possessions. A good rule-of-thumb is if it’s smaller than a grapefruit, pack it up. Remove any countertop appliances that are not built-in. Your furniture and accessories should help them get a sense of the space in the room and allow them to envision moving their own things in. Consider removing your personal photographs and memorabilia. You want buyers to envision creating their own memories in your home, not distracted by yours. Closets, basements, attics and garages should be clean, well-lit and organized. Ample storage is a common buyer request so make yours appear as spacious as possible. Do not make the mistake of moving the clutter from the living spaces to these areas. A temporary storage unit might be well worth the investment while your home is on the market. Plus you are moving, so consider the packing process underway!
Look at every surface: floors, walls, doors, windows, ceilings, built-in furniture, etc. Also make sure that all of your home’s systems are in good working condition (electrical, mechanical & plumbing).
you are trying to appeal to the masses so if your home is decorated in a way that only a select few can appreciate, change it. Don’t remodel – it’s amazing what a fresh coat of neutral paint and simplifying and rearranging your current possessions will do. A few new accessories like fluffy new bath towels, accent pillows and fresh flowers might just add the finishing touches. Also, if your house is on the dark side then purchasing some extra lamps or using LED bulbs will be money well spent.
all the clutter removal, repairs, and improvements. This is money well spent and will put the final polish on your “show ready” home. And don’t forget the windows!
While these types of properties continue to grow in popularity in Portland, so does the buying power for condos and townhouses. The recent over-saturation new rental apartments in Portland has softened prices for condos and townhouses. With Portland’s limited land for development (and sprawl) and encouraged density, these properties will remain a player in the market and will “weather” this shift as our population continues to grow and buyers prioritize simplicity and efficiency. In the meantime, this is an outstanding market segment to take advantage of for our buyer and investor clients.
Not the best illustration, but it’s colorful!
Okay, so this vat is 100% more like the stuff the Joker falls into than it is like radon, but I’m running out of visuals, here.
Ventilation = good
Boldly blogging where no one has blogged before.
It’s okay if you don’t know what this is. What am I saying? No, it’s not okay. It will never be okay. Things will never be the same again!
Not that kind of duel. Although court cases might be more interesting this way.
The rubics cube of government. Nuff said.
This analogy is too good for a caption.
The joy of understanding zoning.
This is a zone map of a little piece of Portland. You definitely do not need to understand what all this means.
The staged townhome 
This was the piece that the buyer ended up purchasing because it fit so well in the upstairs loft space!