Vivo Realty Group just launched a new membership-based business model that provides the infrastructure that agents need at an affordable, tiered pricing scheme. The brokerage has three locations in North Texas: Plano, Uptown Dallas, and North Oak Cliff’s Bishop Arts District. (Courtesy Photo)

As members of our editorial team cover the annual National Association of Real Estate Editors conference, a recurring theme is the transformation of the traditional real estate brokerage. The existing model, industry disruptors say, no longer serves the individual agent. 

Locally, more and more brokerages are touting their digital assets, using social media and mobile apps to make real estate transactions easier for buyers and sellers. But what about infrastructure?

“The real estate industry is not just changing, it’s changed,” says David Maez Jr., co-founder and broker at Vivo Realty Group, which launched their new subscription-based brokerage model. “We had to think, ‘What’s wrong with the way we have been doing things for over 150-plus years?’ The brokerage model has failed to innovate and deliver what agents need: Flexible pay structures, places to meet clients and work from that are easily assessable, contract, and marketing support.”

So Vivo, with three offices in hot North Texas neighborhoods — Plano, Uptown Dallas, and North Oak Cliff — made a new model that fills the gaps of independent agents without sacrifices.

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overhead lines

Overhead lines may not be aesthetically pleasing, but they don’t seem to hamper home sales (Photo courtesy Pixabay).

They may be unsightly, but overhead lines are not really affecting property values, a trade journal said this week.

A peer-reviewed article in The Appraisal Journal revealed that there is actually very little data to prove that the high-voltage overhead transmission lines (or HVOTLs) are negatively impacting sales prices. (more…)

DFW rent prices

If it feels like you’re paying a lot for rent, you’re probably right: huge demand for DFW apartments in 2016, coupled with a shortage of supply, has pushed rents and building occupancy to record levels.

DFW rent prices are now averaging almost $1,100 a month, according to MPF Research. Add to that a vacancy rate of under 4 percent, and you’ve got demand at an all-time high. The past year’s demand total for apartments in North Texas jumped to 27,120 units, up sharply from the 2015 volume of about 17,000 units.

Fort Worth ranked sixth in the nation for rent increases in 2016, going up 6.7 percent over the previous year. Dallas was close behind, at number 11, with a 6 percent increase over 2015.

“With out apartment clients, we’re getting a lot of people relocating who are unsure if they want to buy or not,” said David Maez, co-founder of Vivo Realty Group. “I think we going to see competitive rent prices continue, even with the inventory that’s coming up.”

There are now almost 50,000 apartments under construction in North Texas, which is about 9 percent of nation’s building activity. That’s the country’s biggest block of product on the way by a large percentage, according to RealPage. About 29,000 of those apartments scheduled for completion in 2017.

“Dallas-Fort Worth is the country’s top spot for apartment demand by a huge margin, which speaks to the strength of the local job market and household formation pace,” said RealPage chief economist Greg Willett. “There’s a great mix of expansion in both the urban core and the suburbs.”

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millennials real estate

Millennials use their smart phones extensively in the homebuying process and use apps for research. Photo: Garry Knight

For years, millennials have largely been thought of as renters, not buyers, but that has changed. Millennials, born from the early 1980s to the early 2000s, now represent the largest group of homebuyers in the U.S. at 32 percent, taking over from Generation X, according to the 2015 National Association of Realtors (NAR) Home Buyer and Seller Generational Trends study, which evaluated the generational differences of recent home buyers and sellers.

This matters because the way millennials buy real estate is markedly more technology-driven than older generations, and Realtors need to adapt to their style if they want to keep up, says David Maez, Broker and Co-Owner at VIVO Realty.

“There’s lots of frustration among older agents in working with the millennials, but they’re not going away and agents need to learn to adapt,” Maez said. “It’s exciting because of all of the technology that’s available to us to make it easier to buy and sell properties. How people buy properties is going to continue to evolve on the technology level.”

millennials real estate

Take, for instance, the telephone. Many Realtors are used to speaking with clients, but millennials are much more into texting.

“With millennials, you have to communicate how they want to—they are big on texting and many don’t even answer their phones,” Maez said. “Some agents have had success using Facebook messaging because [their millennial clients] are not checking their email, either.”

The smartphone is key to a lot of the differences in millennial real estate patterns. More than half of them search for homes on their mobile phones and 26 percent of those buy a house they found that way, according to research from NAR.

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REALOCATOR_Banner

You’ve heard about Realocator from us before. It’s the new app that helps buyers connect with Realtors in real time via GPS. It’s like Uber for real estate, and it’s a concept that intrigues us!

If you’ve wanted to see Realocator in action, check out this spot on CW33’s News Fix featuring Vivo Realty Group co-founder David Maez as he demonstrates what his app can do to revolutionize the real estate industry, one showing at a time.

Have you downloaded the iOS app for Realocator yet? What did you think?

Kylah Boyd Featured Realtor

We love meeting rookies in this business, and with how hot our market is, more and more talented professionals are choosing a career in real estate. It’s no wonder that we often find go-getters from brokerages all over Dallas, but it seems like the team at Vivo Realty in Uptown is full of young, hungry agents like Kylah Boyd.

When you’re in the first year of your real estate career, it helps to have a great lender by your side. What has your lender done for you lately? See what you’re missing by calling Jeff Lindigrin at Great Western Home Loans today.

Jump to learn more about Vivo Realty’s Kylah Boyd!

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Ready to move to Plano for the amazing schools? You should consider this listing from Vivo Realtor Bonnie Ottosen.

Ready to move to Plano for the amazing schools? You should consider this listing at 7209 Fair Valley Way from Vivo Realtor Bonnie Ottosen.

Of course a Collin County town made Movoto’s list of top 10 suburbs for schools. But Plano? I was betting on Frisco, Allen, or McKinney for that, but good ol’ Plano was the only suburb in Collin County — and in Texas, for that matter — in the top 10. The next highest ranking Texas town was Cedar Park at 14, followed by League city at 16 and Round Rock at 17. You can read the full list here.

You’re probably wondering about what makes Plano so great for education. Me, too. Plano was measured against its peer towns by student-teacher ratio, money spent per year per student, high school graduation rate, and GreatSchools.org rating (which is sometimes off-based). Here’s what Movoto said:

If you’re surprised to see Plano, TX on our list, well, you must not live here. Locals know that this Dallas suburb receives high marks pretty much across the board—it’s affluent, safe, and,according to these numbers, an all-star student.

Not only did Plano have one of the lowest student-teacher ratios of 14 to 1, but it also had a high school graduation rate of 94 percent and some of the highest test scores in the nation.

Well, well, well. Congrats, Plano. What do you think of the ranking?

The 10 Best Suburbs For Education By Movoto Real Estate

Heather-Burns GW Realtor

Very rarely do we get to profile new Realtors and see why they got into the business with such a dynamic, changing market. Sometimes these Realtors are switching careers from less-interesting, more stressful professions. Sometimes they just fall into it with grace and aplomb.

Heather Burns decided to start a career in residential real estate after working in corporate housing. New to the industry, she immediately fell in love with matching homes to homeowners with Vivo Realty Group. This brand is hiring up top talent throughout Dallas and Collin County, making waves in the industry and building a team of leaders.

That makes Heather Burns of Vivo Realty Group a great candidate for this week’s Featured Realtor, Sponsored by Great Western Home Loans. What has your lender done for you lately? Find out what you’re missing by calling Jeff Lindigrin at Great Western Home Loans today.

Jump to find out more about Heather Burns!

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