According to the IRS, An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury through his/her delegation of authority to the Internal Revenue Service. These zones were created relatively recently, by the Tax Cuts and Jobs Act on December 22, 2017, and now cover all 50 states. The intended benefit: to …

Technology and the digital age are evolving the real estate industry by leaps and bounds, but it seems like certain old-school traditions remain sturdily in place. According to a recent Inman study, fewer than 1 in 10 homebuyers and sellers found their agents through a website in 2017. Astoundingly, that stat is similar to the numbers of a decade ago. The Inman survey, in collaboration with The National Association of Realtors® (NAR) found that buyers and sellers were far more likely to find agents through recommendations and referrals: friends, neighbors …

For many real estate agents, the buying and selling of real estate involving celebrities can be a mixed blessing. A celebrity connected to a property could bring more attention to the listing and a possible career boost to the agent (think of cable shows like Million Dollar Listing). However, it can also cause distraction, as fans who keep track of every celebrity move could get in the way of — or even ruin — an otherwise traditional transaction. “Listing agents are wise to use and leverage any selling power they …

If your sales approach is old-school, you may have to throw out almost everything you were originally taught about the value of cold calling. According to a recent study by the Keller Research Center at Baylor University, only one percent of cold calls ultimately generate appointments. The Harvard Business review found that cold calling is ineffective 90 percent of the time, and less than 2 percent of cold calls ever result in a meeting. Oracle has done the math: if each meeting results in a final sale only 25 percent …

CNBC reports that mall owners are increasingly turning to unconventional tenants to fill some of the estimated 200 million square feet of retail space that is closed or that is expected to close. It’s becoming increasingly understood that the fall of malls can be attributed to two major factors: the rise of online shopping and the overbuilding of malls by developers. Forrester Research expects online shopping to account for 17 percent of all retail sales by 2022. A generational change — where Millennials are not as interested in shopping malls …

Like all of the wealthy investors who make up the cast of Shark Tank, Daymond John has worked hard to create his own success. A native of Queens, New York, John was the son of a single mother and spent most of his youth broke. To survive, John hustled: chauffeuring passenger vans, selling T-shirts, and working as a courier, among many other odd jobs and hustles, all while going to school and keeping ahead of the bills. In the early 1990s, his life changed when he launched the FUBU clothing …

If there were any doubts that technology would affect and transform the real estate business, those doubts would be vanished in 2018. A knowledge of recent history reveals the writing on the wall. According to Forbes: Modern technology has a knack for consolidating and collapsing industries without a single leader: Uber for the saturated transportation industry, Priceline for the saturated travel industry, Amazon for the saturated retail industry, plus many others. Legacy real estate brands in both residential and commercial brokerages traditionally have a hard time recruiting top tech talent …

Bankruptcy filings fell 2.6 percent for the 12-month period ending June 30, 2018,  according to statistics released by the Administrative Office of the U.S. Courts. The June 2018 annual bankruptcy filings totaled 775,578 compared with 796,037 cases in the year ending June 2017. That’s good news, even though the stats often go up and down. Whatever the current bankruptcy filings happen to be, you’ll most likely be working with a percentage of clients who are emerging from bankruptcy. Remember that clients who claimed bankruptcy does not mean that they can’t …

Losing sensitive client data — or worse, having it hacked — could be the beginning of a horrifying rabbit hole tumble that could take your business and career down with it. Just about anyone is vulnerable to a hack attack or a security breach, but there are ways to reduce the risk. Here are a few steps you can take to protect your clients’ data and to keep it secure and private: Use protection Build firewalls and purchase antivirus software. The more protection you add to your business servers, the …

Strengthened by new home construction and storm-related damage repairs, U.S. roofing contractors are now in their fourth consecutive year of improved profitability and double-digit increases in sales, according to data from Sageworks, a financial information company. It’s no surprise that professional roofers are in demand. Roofs are often overlooked (excuse the pun) when it comes to showing a house. In many cases, preventative maintenance and regular inspection doesn’t even occur to the owner until there is something wrong. However, roofs are designed to age over time and must be replaced …