West Palm Beach, FL (PRWEB) March 29, 2006
Dramatic changes affecting the South Florida housing market are reshaping the needs of owners, investors, buyers, and renters. With interest rates rising and sales more uncertain, rentals are more expensive and more scarce, and listings change as owners try recoup the costs of holding property longer. The diversity of needs is a challenge for real estate professionals trying to keep up.
Communities age along with their residents, and new retirees continue to arrive. Many renters run out of options as they search for comparable rental units when their leases expire. Owners find it more attractive to sell individual rental units as a “condo conversions,” and renters who cannot buy their unit are forced out. Many rentals are gone before they can be advertised in the newspaper.
As interest rates climb, owners are rethinking their original intention to “flip” a property for a quick profit. Many renovated “fixer-uppers” remain vacant as investors wait for the peak time to sell. Some are looking for opportunities to recoup lost dollars through rentals.
“Real estate agents are under tremendous pressure to advise both owners and those looking for housing,” said Dan Gallien, Managing Partner at Rent 1 & Sale 1 Realty. “Agents who are not prepared to handle both sales and rentals are likely to see their customers go elsewhere for help in making and carrying out their decisions.”
Gallien feels that in a transitional market, it becomes more difficult to find either reasonably priced rentals or moderately priced homes, as owners weigh the best strategy for producing income or profit from their property. Rent 1 & Sale 1 Realty is the only real estate franchise in the country that manages both sales and rentals. Gallien says supporting customers in a diverse market requires a real estate franchise to support its agents, whichever http://www.rent1sale1franchise.com way the pendulum swings.”
“We’re hearing from agents nationally that traditional real estate franchises haven’t figured out a business model that will work for both customers and agents in a fluid situation like this,” Gallien says. He reports inquiries are pouring in for information on Rent 1 & Sale 1 real estate franchises, because the business model is “economy-proof.” The company’s website is being redesigned to better manage the volume of inquiries.
Gallien is convinced that this business model is the only one that makes sense when the wide diversity of needs is driving the market. “Our agents see nearly every situation imaginable, and our goal is to support them all. Real estate franchises must have strong support to help customers work the financial numbers and find the right solution for their personal situations. That’s our job for the foreseeable future.”