Business Talk
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Business Talk
Current market trends in the Orlando housing market?
Experience the journey of Alena, a powerhouse realtor and broker with Exit Realty Premier Legacy, as she unveils her path from the educational sector to the thriving real estate scene in Florida. Having moved from Minnesota's cold embrace to Florida’s bustling entrepreneurial environment, Alena found her passion for real estate ignited. Discover how she uses her educational background to mentor fellow realtors, shed light on the dynamic Orlando real estate market, and empower buyers with insights on current opportunities and trends. Her story is a testament to the intersection of personal growth and professional success, navigating market corrections, and the impact of interest rates on home affordability.
In this compelling episode, listen as Alena shares valuable advice for preparing homes for sale and tips for budding real estate professionals. From creating welcoming spaces with neutral colors to the significance of maximizing natural light, Alena offers expert strategies to enhance a home's appeal. She also emphasizes the importance of professionalism, discipline, and a proactive mindset for building a successful career in real estate. Moreover, Alena's commitment to community enrichment shines through her offerings of staging services and educational workshops. This episode is packed with practical insights and inspiration from a dedicated professional making waves in the real estate industry.
Welcome back everyone to another exciting show where we dive into the stories behind successful businesses and bring you insider tips straight from the experts, and our expert today is Alena. How are you?
Speaker 2:Alena, I'm great, thank you. Thank you for having me on the show. Happy to be here.
Speaker 1:You're very welcome, excited for you to be here as well. Alena actually is a realtor with Exit Realty Premier Legacy and we want to kind of share as your host. We actually sit down with business owners and we kind of from diverse industries and we kind of uncover what makes companies thrive, what makes these individuals thrive, what's the recipe for success, if you will, and from behind the scenes insights to practical advice. This podcast is your go-to resource for learning about the services you use every day and discover ways to make the most of them. Also, I think it's always good to kind of hear from experts in terms of what makes them successful. In terms of if you're interested in becoming an entrepreneur or you're interested in getting into the real estate industry as an agent, I think this is going to be an awesome opportunity for you to get some insight. So, with that being said, let's go in and tell us a little bit about what inspired you to become a realtor.
Speaker 2:Awesome, yeah, so I became a realtor in Florida 10 years ago when I moved here.
Speaker 2:I relocated to Florida because I was freezing in Minnesota and, yeah, and with my background being in education, I was working in the college system helping students.
Speaker 2:You know, changing lives, that's what, you know, I was put on this earth to do, and I just kind of got a little comfortable right. And I don't like to be comfortable. I want to be challenged, I want to continuously be thriving and growing, and there was a point where I was like I'm ready for a change and I came down to Florida, I got to know Florida people and, wow, the dynamic of the mindset and there's a lot of hustlers here, you know, also known as entrepreneurs, but there's so many people that are just, you know, they're, they're building something for themselves and their families, and I saw that, you know, and my involvement with the chamber and with the Orlando Ritzer Association and everything. Like you're, I'm constantly surrounded by this drive and this passion, you know, for entrepreneurship and growth, and it's, it's contagious, you know, and it's just, it's a better fit for me. So I moved down here from Minnesota to Florida, got my real estate license and then I am a broker now, though, so I love to continuously grow.
Speaker 2:I am a broker and I own. I'm an owner of Exit Premier Legacy.
Speaker 1:That's got to that's got to be exciting. Right To be, it's so so cool.
Speaker 2:So cool Cause I took my passion from in education.
Speaker 2:you know, working with college students to now you know transferring those skills over to working with other realtors you know or other. It doesn't even just have to be a realtor. There's been a lot of other business owners that I've helped right just throughout my own experiences and knowledge of starting a business, and you know social media and you know setting up a website or just whatever it might be. You know like I'm able to transfer those skills of just wanting to help people now to working with you know, more serious adults.
Speaker 1:And that's actually well said, and I like what you said about helping. You know and you use the word entrepreneur, entrepreneurship, many times in the opening. You know, as we're talking here and I think it's you said you always don't want to be stagnant, if I heard you correctly, and most entrepreneurs right, they're constantly moving, they're constantly trying to reinvent themselves or try to help others, you know, in their team, to better themselves and you know. Kudos to you for saying that. So let's kind of get into some real estate market insights. How would you describe the current market right now in Orlando?
Speaker 2:So Orlando's hot. We will always be a hot market right? Whether I mean you know it changes, it fluctuates. We are having a correction to our market, you know, based on what happened in 2020 to 2022, you know there are 2% interest rates, 1.7. I know people that got under 2% interest rates, so obviously it was much more competitive, which drove our prices up. Well, now those prices are correcting. You know everyone's like oh, prices are going down. They're not necessarily going down, but they're correcting. Some are sitting on the market a little longer. You know our average price of a home in Orlando right now is between $400,000 to $450,000. In that price range they move a little faster than you know the 500 and not homes right.
Speaker 2:But if it's under and the location is right. Schools you know families are looking now about this time for their next home because they want to be able to, you know, have that place to live once school finishes for their children to then start the new school year. But it's busy, you know. I definitely would say that buyers have more opportunities right now. Sellers are giving more concessions or being more generous, if you will, with offering credits and closing costs, assistance, buying down rates, because, yes, it may be priced for that much and it may have sold or it may show that. But know, let's just adjust the prices a little bit because for the affordability right now for many people, you know, with a 6.5 to 7% interest rate, you know what can they afford really?
Speaker 1:And you know as a realtor myself you know it's interesting where trends are going. You know where the market's going, where the housing market, and I agree with you on a lot of the things that you said as well. You're right on spot and, in terms of that, what are some of the trends? You know. Speaking of trends that are you seeing in the housing market right now? Market right now, is anything really kind of standing out, whether it's new construction, whether it's flipping?
Speaker 2:homes or remodeling all these different things, anything that stands out Well. So I would say, you know, this is the chance for more investors to jump back in. You know, because it was overly saturated with all of our investors fixing and flipping. I even did some fix and flips and Airbnbs, and all that during that period of low interest rates.
Speaker 2:So there's more opportunities now, because now again not everybody can afford that price of a home right now the average price of a home so there are more investors coming in. We do have a lot of new builds with amazing prices. I sold one over in New Smyrna Beach, 10 minutes from the beach, for $330,000, a brand new home and it was very very very nice community.
Speaker 2:Yep, she did buy cash. She sold a home and you know, up North, from up North, and bought it, you know, but so she had the cash, so they offered her that incentive. You know, up north, from up north, and bought it, you know, but so she had the cash, so they offered her that incentive. So, if you know, but you're buying it with, if you're buying a home for cash, they're they're willing. You know cash is king, so they're always willing to deduct something off the closing the price. However, if it is financing, if you use their lender, they're still giving, you know, incentives. You know 15 grand towards closing costs. Or even I've seen some do like 5% interest rates or 4.75 interest rates because they're buying down the rate. They're using their investors and vendors, right, that are able to offer those. So, yeah, they're definitely trying to drive up the, you know the buyers for their homes.
Speaker 1:But well, speaking in speaking of buyers, you know what are some of the top three things that you can think of that a buyer should look for when they're looking for a house.
Speaker 2:What are the top three things? Well, I mean, it depends. You know, is their location Right? So the location and what's being built around it, you know, will it appreciate? You know, as the hospitals coming in, like nona's, developing we have, um, even outskirts of apopka now is widely developing, uh, claremont, you know. So all those factor into. You know, do you want your house to appreciate or are you just living here temporarily? You know, are you trying to make money? And you know, um, so then they always say too, like, if you're getting into a house to purchase, you know you want to look at the roof, the four, the four major components, you know how old is the roof?
Speaker 1:what cost will I have?
Speaker 2:to right um the roof, the ac, the plumbing, the electrical. You know you, you don't want to have anything that might hinder your ability to acquire insurance, affordable homeowner's insurance, so those are always important. But if it just needs some paint and, you know, some new flooring, I'd say go for it. You know, because just fixing it up, as long as it's appealing to the eye, you know that could add, that could double the value or the appreciation of it.
Speaker 1:Yeah, and I think curb appeal has a lot to do with that. You know people want to see Right. It's kind of like first impressions. You know it's the same as you're taking care of yourself. It's the same as a house when you drive up to that house and it's gotta be a lot, you know. Believe it or not, it has a lot to do with it. And then that outdoor.
Speaker 2:Absolutely. Yeah, the wow factor.
Speaker 1:Yes, the wow factor. And then the outdoors, the outdoor space as well. You, you go to the backyard, you see, you know, everything is outdoor living now, um, here in Florida too as well, besides the mosquitoes, You're absolutely right to that point.
Speaker 2:I just had a listing appointment with someone and I got to go through and do the tour. You know he's like what should I do, you know, and I did. I the backyard. I was like you really need to like pressure wash the fence, you know, because when you walked in there was all glass doors so you could see the backyard, but the the backyard wasn't wasn't in that wow factor.
Speaker 2:And they did. And so when I went back after they had cleaned up and they fixed, you know everything based on improvement, right? Cause I told you it's all that when you walk in, they want to be like wow, so I even went and staged it a little bit, you know, to give it that as soon as you walk in you have that. I can see myself.
Speaker 1:So let's go to the opposite direction. Let's talk about sellers, right. What are some of the most important steps or homeowners should prepare their home for? And you just gave an example, right, you kind of went in there, you talked to your client, you understand the industry, you know, as realtors as we are, we understand what to look for, we understand advice to give because of what customers you know are looking for when they're purchasing a home. So what other type, how would you say this things that sellers should consider when they're putting their house on the market?
Speaker 2:Yeah, no, that's a great question and I love that. Right, like I love going in and I love that they trust me to get my feedback on, you know what can I do to increase the value? You know the appeal. So I always say, right, starting as you walk in, you obviously want to walk into a fresh, smelling, clean smelling home, have it detailed from top to bottom. You know, even from the baseboards. You know like people see that and and, while it can be a 700 or 600 000 home, like you see dirt and dust and grime, you know like it's a, it's a turnoff um.
Speaker 2:So I would definitely say right, that fresh smell when you walk in um, having a clean, refreshing but also decluttering, uh lessens more. I don't want to see a lot of stuff personally, you know, and so like I've had people remove some items to just really open up the space, you want to walk in, you want to see yes, you want to see how you can set up your house, but they also need to see how much space it is right and how much light can come in naturally and just give you that home, sweet home, feeling.
Speaker 1:And I, like you said I like the word less is best, because if you don't, you have so much on the walls, right? You want these customers or these potential buyers to come in walking in a home and automatically feel okay, this is where my couch is going to go, this is all about me because this is what I'm buying, right? So if they feel that as a seller I mean as a buyer you're more inclined as a seller to be able to, to get that offer Correct.
Speaker 2:Yep, Absolutely Yep. And then if, if they don't have furniture cause they're moving, you know, like I have a special service that I offer, where I have a little staging company and I'll go in and bring some items to just make it feel more. You know, some people don't have that imagination. And I would also say paints, neutral paints I have another house sitting on the market and I know it's because of the color of the paint.
Speaker 2:You know people see that they have a big paint job to do. So I'm actually thinking about going in to paint it myself here in the next week or so because it's not moving. You know I sell homes, I don't list them, I sell them.
Speaker 1:I love that you also said about the natural light. There are some houses, you know, when you go in some houses and the rooms are they don't have a window right in that room, in the rooms are they don't have a window right in that room. So the best, the best way to offset that is to have a light color paint you know right, yes, neutral yep absolutely.
Speaker 2:It just opens it. It makes it look more fresh, clean, crisp and it gives them that imagination where they can do every. You know they can do whatever they want to. That's easier to paint over. If it's dark colors reds they said red, yellow and what was the other color? Like a green, a red, yellow and green are colors to stay away from when you're painting your home. Yeah.
Speaker 1:That makes sense. So let's kind of. If there are some of our listeners who are wanting to look into getting into the real estate industry, you know, as a profession, any advice?
Speaker 2:Any advice getting into the real estate?
Speaker 1:industry. Yeah, if they were interested.
Speaker 2:Be ready.
Speaker 2:Be ready. No, I think you know it's a great license to have. They say everybody in Florida has a real estate license but not everybody should have their real estate license. Right, it's really for those. You know it's with all the changes happening. You know the buyer, broker agreements, the compensation, how we can and cannot present. You know certain negotiations. I think it's just you know, be ready to take it professionally. It hasn't been taken that seriously for many people and things are changing. You know certain negotiations.
Speaker 2:I think it's just, you know, be ready to take it professionally. It hasn't been taken that seriously for many people and things are changing, you know. So really be ready to be disciplined. And this is your, your career, this is your business that you're operating, so it's going in with that mindset. You know that it's to each his own and if I'm not taking care of myself and doing what I need to do every morning, to be in my routine, to make my calls, to do my business, then you're going to fail. You know, and don't expect anybody to do anything for you or to give you leads. I think that's the biggest thing is like, oh, there's always going to be leads. No, I give leads to people that I, because I can't keep up with leads Right, and there's more.
Speaker 2:There's plenty to go around, but I would say, don't ever expect, because I've heard people say like Elena, you're giving out leads, I'm coming over, I'll teach you how to get leads, get your own leads, I'll teach you how to do the business. And then, when?
Speaker 1:I trust you. I'll share some leads with you. I like that, Elena, a lot. Can you do me or do our listeners a favor and provide, as we wrap up, can you provide your phone number to get a hold? Have them get a hold of you as well as maybe a website they can visit.
Speaker 2:Yeah, absolutely so. My phone number, it is my cell. It is 407-801-8219. And that will go. That is my business cell. You can text or call that number 19. And that will go. That is my business. So you can text or call that number. And our website is exit premier legacycom and that's where you'll be able to find other properties coming to market. We do a lot of events, workshops. We're big on community, community collaboration and growth, so we're going to be doing a lot of workshops on fix and flips. My partners do fix and flips. They buy houses for cash. So in our office in Orlando, located in the Orlando Ice Den. It's a fabulous spot, very central to everything and lots of people that want to teach and grow and help each other.
Speaker 1:Well, this has been such a great insight in your world of what you do, you know in terms of giving back and in terms of your profession, and thank you so much for taking time out of your busy schedule to be able to speak to our listeners, too, as well and listeners, if you actually like this content, please feel free to share and subscribe so we can bring more of this to you as well. So thank you so much, and hopefully we can have you back again in the future.
Speaker 2:Absolutely. We'd love that. Thank you, didier, you're very welcome.
Speaker 1:Thank you for tuning in to First Media Consulting Podcast. If you enjoyed the podcast, subscribe today To nominate a business you would like to recommend to be on our show. Go to firstmediaconsultingcom or call. Thank you for.