Why Compass and Why Now?

It has been four months since the Sultan Newman Group made the switch to Compass and thought it was time to share more information about the company and what lead us to make the switch.

“The real estate industry is a $217 trillion-plus global asset class, yet it has been largely untouched by technology. Buying and selling decisions are among the most important a person can make in life, but today, the majority of those decisions are based on gut instincts or outdated information. At Compass, we believe that agents—and their clients—deserve better.

By combining the solutions-driven mindset of a startup and the sophistication of a luxury brand, we’re building the operating system for real estate. We empower agents from start to finish by developing innovative digital tools and customized marketing strategies. Why? Because we know that when agents can spend more time building relationships with clients, everyone wins.” -Compass

The Compass Story Compass was founded in 2012 by Robert Reffkin and Ori Allon. We’re building the first modern real estate platform, pairing talented agents with tools to make the search and selling experience intelligent and seamless. With the solutions-drive mindset of a startup, the reach of a national network and the sophistication of a luxury brand, we are helping to make home buying and selling experience better for all.

#1 Our rank among independently-owned brokerages nationwide Since our launch, we’ve raised $1.2 billion in capital. Our investors believe in us as agents and our ability to create simplicity and harmony in the real estate process. With their investments and the talent of us as agents and employees, we are poised to deliver on our mission to help everyone find their place in the world.

Compass Concierge Compass Concierge helps clients sell their homes faster and for more money by covering the upfront cost of home improvement services. From staging, painting, renovations, landscaping, and much more, Compass Concierge covers over 100 different home improvement services that help make homes more appealing. Once the improvements have been completed, Compass collects payment for the services rendered at the time of the property’s closing with no hidden fees or interest charged to the seller. By investing in a client’s home, we aim to provide a swifter, more profitable sale.

Compass Coming Soon Think of Compass Coming Soon like movie trailers. When a trailer is released, it gets the public excited for the upcoming film. Once the movie debuts, tickets are sold out and there is a line around the block to see it. However, if it were not for that trailer it might not have sold out. Similarly, think of how Tesla brings a new car to market. They don’t just release their new car models. They create reservation lists three years in advance to get people excited.

We take the same pre-marketing principles used by the best companies in the world and apply them to our clients’ homes. We create Compass Coming Soon listings to build interest and anticipation so that homes sell faster and for more money.

Benefits: 1. Helps buyers find their ideal home faster 2. Gives buyers access to homes as a competitive advantage 3. Gives sellers a transparent, high value go to market strategy for selling their home

Differentiators: 1. Buyers — Exclusivity, timing, volume/breadth 2. Sellers — Exposure = better price, insights, speed to sell

Compass Technology We’ve built the first modern real estate platform, pairing top talent with technology to make the search and sell experience intelligent & seamless. We want to create simplicity and harmony in the real estate process — making the buying and selling experience seamless and intelligent.

At Compass, we have over 350 engineering and product team members who have come from top companies like Google, Facebook, Amazon, Apple, and IBM to build a platform to simplify the real estate process. As your agent, I have access to a suite of tools to help me better sell or find your home. Compass has built tools that not only make me a more efficient agent, but that make it easier for you and I to collaborate throughout the process.

Buyer focused: Collections – Think of Collections like the Pinterest of real estate. We can use this tool to share and discuss listings all in one central, visual space. We can keep a close eye on homes that may be of interest to you.

Seller focused: Collections – Think of Collections like the Pinterest of real estate. We can use this tool to share and discuss listings all in one central, visual space. We can keep a close eye on homes that are similar to yours. Keeping tabs on our competition in order to make strategic decisions based on price and status updates.

Insights – My Insights dashboard gives me access to real-time data about your home’s digital traffic. This allows us to refine our marketing and pricing strategies as well as discover new lead-generation opportunities. It also allows me to quantify the results of our marketing efforts and invest accordingly in what is working.

Network – This gives me access to all of the agents who have done a comparable sale or purchase in our area. Since a majority of transactions are co-brokered, most of our effort should be dedicated to getting your home in front of the agents who are most likely going to have the buyer for

Compass Marketing: We have a dedicated in-house marketing and advertising agency comprised of people from the best brands in the world who help you market yourself and your listings. Whether it’s print collateral, digital collateral, or social content, our team takes the principles from the beloved marketing companies and applies them to your home.

At Compass, we have more than 350 employees who have worked in marketing at companies such as Tiffany & Co., Conde Nast, Ralph Lauren, and Rolex. They helped market some of the world’s most beloved brands and are now working to help sell your home.

As your agent, I have my own in-house marketing advisor that will help me tell the story of your home in a way that will be compelling to buyers. I also have access to brand strategists, designers, and digital marketing experts who create world-class collateral, strategies and campaigns to attract buyers.

One of the ways we’ll market your home is through digital advertising. Compass created an easy-to-use tool that I can use to attract traffic to your listing on Compass.com. It allows us to target demographics we believe contain the buyer of your home with bespoke marketing content. We’ll put together a comprehensive marketing plan to get your home sold fast and for the most money.

To track the impact of our campaign, I can use Compass’ Insights tool to gather data from our marketing efforts. This will allow us to refine the plan based on what is working and where buyers are coming from.

Compass Culture Guided by principle

The Compass entrepreneurial principles embody our values and define our culture. 1. Dream big 5 Obsess about opportunity 2. Move fast 6 Collaborate without ego 3. Learn from reality 7 Maximize your strengths 4. Be solutions driven 8 Bounce back with passion

All-star agents We believe that great organizations are selective and therefore only hire agents who are experienced, collaborative, ethical, and fully committed.

Community focused and driven

Our philanthropy program, Compass Cares, empowers our agents to support meaningful causes where it matters most: at home. In 2019 alone, we’re aiming to contribute over $10M in funds and skill-based volunteering to local organizations.

I’m connected to a network of 12,000+ experienced, ethical and committed agents who can help me find the perfect buyer for your home or the home you’ve been dreaming of.

They’re all just a phone call away.

By working with me, you’re also giving back to the community we share. Compass is committed to supporting the neighborhoods we live and serve. Our goal is to donate $1B to our communities.

Our Reasoning for Making The Switch The real estate industry is always changing and evolving like everything else.  As a company, Compass is ahead of the profession and really knows where the real estate profession is moving. As a company, Compass is taking the lead in offering its agents the tools to best serve clients. We are proud to be apart of such an amazing company and cant wait to continue to provide the best service possible to our clients and friends.

Exciting News! Just this past week Compass Robert Reffkin was featured on CNBC sharing the news that Compass has just raised $370 million in additional capital from a combination of new and long-time investors.  Compass announced that they plan on working to further develop our technology and expand our incredible programs for sellers like Compass Concierge – all in support of our mission to help everyone find their place in the world.

For more information, visit me at  Compass – Joseph Newman

RE/MAX Ranked as leading real estate franchise of 2018

We don’t often blow our own horn here, but some things are worth celebrating— and that includes our recent designation as the leading real estate franchise of 2018, by Entrepreneur magazine.

More than 1,000 franchisors applied to be included in Entrepreneur’s annual Franchise 500 survey. Franchisees were evaluated on unit growth, financial strength, stability and brand power during 2018. This marks the seventh consecutive year—and the 16th time in 20 years—that we’ve ranked No. 1in the real estate category.

“RE/MAX leads its competitors year after year in the Franchise 500,” said RE/MAX CEO Adam Contos. “We truly are the No. 1 name in real estate, and industry professionals want to experience the competitive advantages of our brand power, progressive on-demand training, technology and unmatched global footprint.”

REMAX now includes 120,000 sales associates in more than 100 countries and territories—not bad for a company that began with a single office in Denver in 1973!

Just another reason why I, Joseph Newman – The Colorado Broker, am proud to hang my license with RE/MAX

RE/MAX of Cherry Creek

 

Study shows use of real estate agents highest in 18 years

Study shows the use of real estate agents highest in 18 years

Despite the proliferation of apps and websites designed to help people buy and homes on their own, most people continue to choose traditional, in-person brokers. In fact, a new study shows that use of real estate agents is at its highest level since the study began in 2001.

A recent Harris Insights & Analytics’ housing consumer study polled 1,000 people who had either bought or sold a home in the last six months of 2018, according to Housingwire.com.  Of those, 90% said that they used a real estate agent to buy or sell their homes. The figure represents a 5% increase from the last study, which was conducted in 2014 and a 9% increase from the first study in 2001.

“And despite the fears that Millennials are replacing real estate agents with technology, the study found that this was not the case…” notes Housingwire. Among those ages 18 to 24, 91% reported using a real estate agent.

Gen Xers—those between 35 and 44 years old—were found to use brokers at an even higher rate of 94%

Interestingly, the study reports that more education corresponds to greater usage of agents. Of those with a college education, 94% used a broker to buy or sell their homes, vs. 83% of those with only a high school diploma. Meanwhile, income was also a predictor; 98% of survey participants earning between $75,000 and $100,000 used a broker, vs. 79% of those who made $50,000 or less a year.

If you are in the market for a home and are interested in learning more about my process please feel free to visit TheColoradoBroker.com. I would love to meet you over coffee to discuss your wants and needs!

-Joseph Newman, The Colorado Broker

Photo by José Alejandro Cuffia on Unsplash

Denver International Airport earns accolades

Denver International Airport earns accolades

When it was first built, Denver International Airport (DIA) suffered so many operating glitches that it became the favorite go-to joke for late-night TV hosts.

DIA
DIA

Now the joke is on them: The Wall Street Journal recently named DIA the best “big airport” in the country. 

“Drawing from a survey of 4,800 readers and weighing 15 airport measures, including security wait times, average fares and arrival and departure time reliability, the paper crowned the ‘Mile-High Miracle’ best in its class for air travel,” notes the Denver Post.

To determine an airport’s convenience factor, the Journal studied Wi-Fi speeds, Yelp ratings for airport restaurants, walking distances and the number of destinations patrons can reach on a direct flight. Denver ranked high in these measures, as well as in the price of its airfares. The study found that due to more competition among airlines at DIA, flights are cheaper, with an average fare of $299.

Orlando International Airport finished second in the study, while Phoenix’s Sky Harbor International Airport came in third.

DIA also recently earned the distinction of being the fastest-growing major airport in the country, according to the Denver Business Journal.

In 2018, the airport added “more flights and more seats taking off than any top-ten U.S. airport,” notes the newspaper.

REMAX of Cherry Creek

Photo Copyright: arinahabich / 123rf.com

The Newest Trend in Home Decor is a Secret

Shhhh. The newest trend in home decor is a secret!

Can you keep a secret? Then you might be a candidate for the newest trend in home décor: secret doors.

That’s right – those hidden passages once confined to mystery movies and novels have now made their way to the average home.

According to the Washington Post, it’s all due to manufacturers offering ready-made doors disguised as bookshelves, mirrors and other options. “[A]s pre-built, ready-to-install doors become more widely available,” notes the Post, “people are adding them for aesthetics, for fun or maybe because they watched too much Scooby Doo.”

The Post reports that three years ago Home Depot began offering online pre-hung bookcase-doors from Murphy Door in Utah. “It has become more of a trend than we expected,” Jeff Watchko, interior door buyer for the store told the Post.

The development can be attributed in part to homeowners hoping to hide valuables in secret rooms. But concealed doors can also solve design issues.

For example, in Nicole Buell’s small condo, the doors to her only bathroom were in her bedroom and living area. The door in the living area was taking up space she would have liked for pictures or bookcases. But removing the door and replacing it with a wall would have left the only entrance to the bathroom in her bedroom, making it awkward for guests. A bookcase that doubles as a door was the perfect fix.

“With the help of her father,” notes the Post, “she constructed shelves and mounted them on the ball bearing hinges to create a bookcase that swings open to reveal the loo.”

Some, however, admit they don’t care about practicalities. Sometimes, the $850 to $1,750 price tag just pays for fun.

“We were redoing our master bathroom and closet, and I don’t know where I saw hidden doors,” Leigha Basini told the Post, but I was a big mystery reader as a child, and when I saw we could have a hidden door, I wanted one. It was probably three-quarters fun and one-quarter storage.”

In all, it’s an exciting trend hiding in plain sight. But, remember: you didn’t hear it from us.

If you need help finding any properties feel free to reach out to me directly!

The  Colorado Broker, Joseph Newman

REMAX of Cherry Creek

Photo Copyright: Katy Belcher/Unsplash 

Movember Foundation!

This November, I have joined the movement to help raise money and awareness for men’s health. Together we can make a difference for men’s health – in prostate cancer, testicular cancer, mental health, and suicide prevention. HELP ME STOP MEN DYING TOO YOUNG.

I have joined up with my buddy Eric Elkins and we put on a MOVEMBER Happy Hour at Interstate! $1 from each Horse’s Neck cocktail purchased was donated to the Movember Foundation, $40 in total.

Put your money where you Mo is! Visit my page to donate. We still have more days to donate to reach our goal!
https://mobro.co/13852872?mc=1

In the United State, 1 in 9 men will be diagnosed with prostate cancer in their lifetime.

More from the MOVEMBER FOUNDATION

THE MOVEMBER FOUNDATION
Stopping men dying too young

Our fathers, partners, brothers and friends face a health crisis that isn’t being talked about. Men are dying too young. We can’t afford to stay silent.

THAT’S WHY WE’RE TAKING ACTION.

We’re the leading charity changing the face of men’s health. We’re addressing some of the biggest health issues faced by men: prostate cancer, testicular cancer, and mental health and suicide prevention.

We know what works for men, and how to find and fund the most innovative research to have both a global and local impact. We’re independent of government funding, so we can challenge the status quo and invest quicker in what works. In 15 years we’ve funded more than 1,200 men’s health projects around the world.

By 2030 we’ll reduce the number of men dying prematurely by 25%.

Again, I really appreciate your support. Visit my page with the MOVEMBER Foundation.

THANK YOU FOR YOUR SUPPORT!

Joseph Newman, The Colorado Broker.

6 Near- Genius Ways to Fool Burglars Into Thinking You’re Home

School Districts are More Important to Denver Home Buyers than other Amenities

School Districts are More Important to Denver Home Buyers than other Amenities

We all know home buyers desire high-performing school districts. But what are they willing to sacrifice for this priority? Plenty, according to a recent survey by Realtor.com.

The survey found that 78% of home buyers place a good school district above other amenities. “School districts are an area where many buyers aren’t willing to compromise,” Realtor.com Chief Economist Danielle Hale noted of the survey’s findings, as reported by CBS MarketWatch. “For many buyers, ‘location, location, location’ means ‘schools, schools, schools’.”

According to MarketWatch, more than half of home buyers (59%) studied test scores to determine a school district’s quality. Others considered whether the school had a gifted and talented program (53%) and art and music education (49%).

Among the amenities they were willing to sacrifice for great schools: a garage (19% were willing to let this go); updated kitchen (17%); number of hoped-for bedrooms (17%) and outdoor living space (16%).

“Of course, buying in a good school district comes with a significant premium as well,” adds MarketWatch, which cites a 2016 Realtor.com study noting that homes in higher-rated school districts were 49% more expensive on average than the median-priced home nationwide.

Reach out to me at The Colorado Broker and I would be happy to provide you with a school district map so you can see what district is right for your family.

 

ReMax of Cherry Creek

Photo Copyright: Pan Xiaozhen / Unsplash.com

The Colorado Broker – Computers vs Humans Home Appraisals

Computers can do home appraisals. But humans are better

In our computer-oriented world, decisions driven by data and algorithms have become commonplace. This raises the question: Is there still a need for human input to get the right outcome?

It’s a question many are asking regarding home appraisals.

“With these [technological] advances, will computers inevitably replace appraisers when it comes to valuing homes?” asks John S. Brenan, director of appraisal issues for the Appraisal Foundation. He explored the idea in a recent Realtor Magazine article.

Computer models, called automated valuation models (AVMs), are used by websites like Zillow, tax assessors, lenders and others. Most experts agree that AVMs have their place in today’s world. For example, they are useful in situations where the appraisal isn’t critical.

Brenan offers the situation where a person owns a $2 million home free and clear and wants to take out a $50,000 line of credit. “I’d be irate” he notes, “…if I had to pay a large fee” for an appraisal. In this case, an AVM would work nicely and save the homeowner as much as $700 in appraisal fees.

Computer algorithms also work well when evaluating average homes with no special variations. But few homes are “cookie cutter.”  AVM’s don’t consider whether the home is located on a busy street corner, if it has been updated or is in major disrepair, and so on.

As Brenan writes: “[C]omputers don’t buy houses; people do. An AVM does a great job of analyzing tangible features, such as a property’s age, number of bedrooms and baths, square footage and lot size. However, a property’s overall appeal is something that has been, at least to date, extremely difficult to quantify.”

Brenan notes that while AVMs can help appraisers in their valuations, the human element is still critical in most situations. “[U]nless and until AVMs can better emulate the human factor, an ethical and competent appraiser remains indispensable.”

I have been in the industry for a long time and have established relationships with reputable appraisers in Denver throughout the years. Contact The Colorado Broker, Joseph Newman,  if you would like contact information for our trusted appraisers in the area.

ReMax of Cherry Creek

September Market Report

Market Insights for Fall 2018

Housing inventory increases to the highest level in four years giving homebuyers more selection and signaling increased days on market and a slowdown in the rate of price growth.

Is this the time to sit on the sidelines waiting for the market to turn?

With interest rates expected to go to 5.1 percent in 2019 and forecasted appreciation softening but continuing to remain strong at 5.6 percent year over year in Denver, the cost of waiting is significant.

Don’t fall into the trap of rumors about the Denver Real Estate market. Contact me directly and I will help guide you through the buying or selling process.

A $425,000 home today will cost an estimated $23,800 more in purchase price in one year and $286 more a month in your mortgage payment – that’s a 13 percent increase or cost for waiting a year.

With that being said, don’t wait to purchase until next year. The time to buy is now. Contact me directly to get the buying process start. I have an excellent team backing me that will make sure home buying is as seamless as possible.

Quick Stats:

  • Average active listings for August is 17,020 (1985-2017).
  • Record high August was 2006 with 31,664 listings and 2016 represented the record low with 7,327 listings. August 2018 had 8,228 active listings.
  • The 20-year average change in active listings from July to August is a .16 percent decrease. 2018 represents an increase of 7.65 percent. This is the highest percentage increase ever recorded.

DMAR Market Insights

If you have any real estate questions or needs please feel free to reach out to me directly at Joseph@thecoloradobroker.com.