Business

4 Real Estate Technologies That Can Help People During the Coronavirus-Induced Recession

Published

4 years ago

December 18, 2020

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The recession has officially hit the United States. Although some still deny the recession, the economy disagrees. Even though initial lockdowns have been lifted, millions of businesses have already closed their doors for good thanks to the last round of shutdowns. With California about to enter yet another lockdown, it’s only going to get worse.

Many people will need to find cheaper housing and possibly share a home with others. However, finding an affordable place to live is challenging. Oddly, rents are rising in certain areas despite the recession. For people who live in cities with rising rent, it’s hard to find affordable options. However, technology is making it a little easier.

In addition to essential property management applications that landlords use to communicate with tenants remotely, here are four technologies that can help people find affordable housing during this recession.

3D property tours

Even when people aren’t under stay-at-home orders, many are hesitant to drive long distances because gas costs money. Gas might be cheap compared to what it was last year, however, even cheap gas is expensive for someone who has lost part of their income.

Many people who have lost part of their income can still afford to pay rent. They just need to find a smaller house or move to a cheaper location. Offering 3D property tours on your website for potential tenants can be a huge help for those who can’t drive or don’t want to drive to see a property in person.

Another way a 3D property tour helps is by narrowing down potential tenants without having to meet with them first. People can see far more in a 3D tour than they can in 2D photos. Potential tenants might spot some deal breakers in a 3D tour, which means real estate agents don’t have to waste their time scheduling a showing, only to find out their prospect doesn’t like having a small step leading from the kitchen to the family room.

There are many 3D property tools on the market, but one of the easiest tools is the 3D tour app from Zillow. Al you need is an iPhone or a 360-degree camera to take some panoramic shots and the app puts all the photos together to create the 3D tour.

Homeshare

For San Francisco residents who need to rent smaller spaces for less money, Homeshare is making that possible. Homeshare divides luxury apartments into smaller units that rent at a lower price than the entire apartment. The company divides luxury apartments into 100-square-foot sections that cost around $1,300 per month.

The 100-square-foot units have sleeping areas sectioned off with privacy curtains, but otherwise it’s like sharing an apartment with roommates. The living room, bathroom, kitchen, and closets are all shared spaces.

Most people would consider $1,300 a ridiculous amount of money to pay for 100 square feet of living space, but in San Francisco, that’s cheap. For those used to paying $4,000-$6,000 per month, being able to jump into a $1,300 unit without leaving the city they love is a blessing.

Bungalow

For those open to renting a room from someone, Bungalow helps people find a shared living situation without having to try their luck on Craigslist. All the houses listed with Bungalow are vetted by the company and roommates are matched based on shared interests and similar living preferences.

The best part about Bungalow is that the landlord can handle the lease agreement and rental payments through the app. Unlike finding a room to rent on Craigslist, if you don’t like the home you move into, you can move into another Bungalow listing without penalty within the first two weeks.

Divvy Homes

Divvy Homes helps renters who want to buy their home to save money long term.

The services provided by Divvy Homes fall under the category of rent-to-own, but there are several key differences. When a client finds the dream home they want to buy, Divvy Homes purchases that home and then rents it to the client. While the client is renting their dream home, Divvy Homes helps them build their wealth to cover the down payment, all while they live in the home they are going to purchase.

Everyone should be saving money on rent if possible

The recession is here and nobody knows how long it will last. If you’re paying too much rent, consider downsizing until the recession is over. You never know what’s around the corner. If you don’t reduce your rent expenses now, you might regret not saving money sooner.

Business

Private Listings by Harold X. Clarke: A New Approach to Fine Real Estate

Published

1 week ago

December 16, 2024

Matthew Wiles

Photo credit: Private Listings by Harold X. Clarke.

Byline: Andi Stark

Private Listings by Harold X. Clarke, a real estate platform operating across Hawaii, is rewriting how properties are bought and sold in the region. Unlike larger firms reliant on public listings and mass marketing, Private Listings’ strategy prioritizes personalization, privacy, and meticulous curation of ultra-high-end, off-market properties, including oceanfront estates, gated community residences, and architectural masterpieces.

Harold Clarke, founder of Private Listings, describes their method as one that rejects “cookie-cutter solutions in favor of understanding the nuances of both buyers and sellers.” This approach has resonated with ultra-high-net-worth individuals (UHNWIs) seeking refined and discreet real estate transactions.

The Hawaiian real estate market remains a hub for global investors, with the median price for a single-family home in the state reaching $900,000 in 2024, according to the Hawaii Association of Realtors. Within this competitive landscape, Private Listings is building up to be a trusted name for properties that extend beyond luxury into generational investments.

Challenging the Industry Norms

Private Listings deliberately avoids the conventions of large-scale real estate firms. By focusing on fewer, higher-value properties, the company ensures that each transaction is treated with the same level of care and confidentiality.

Public listing platforms, while effective for broader markets, often expose sellers to unnecessary attention or unqualified inquiries. For Clarke, this model is misaligned with the needs of UHNWIs. “Privacy isn’t a luxury for our clients—it’s a necessity,” Clarke explains.

This philosophy has led Private Listings to handle some of Hawaii’s most significant real estate transactions, including off-market properties valued at over $40 million. Its success is not measured by the volume of listings but by the depth of trust built with clients, many of whom return for subsequent transactions.

Adapting to Changing Client Demands

While Private Listings maintains a foundation of traditional practices, the firm also recognizes the evolving needs of its clientele. The global real estate market is increasingly influenced by concerns over digital security, with a 15% rise in data breaches targeting high-net-worth individuals in the past three years, according to cybersecurity firm NortonLifeLock.

To address these risks, Private Listings employs rigorous screening for potential buyers and uses secure platforms for communication and transactions. The firm’s “by invitation only” model ensures that clients remain protected from the pitfalls of public exposure. Clarke notes, “Our goal is not just to sell homes but to create an environment where clients feel safe and confident during every step of the process.”

The Human Element in Real Estate Transactions

Despite advancements in technology, Private Listings firmly believes that real estate transactions cannot be reduced to algorithms or automation. Unlike firms that depend heavily on online data aggregation, Private Listings emphasizes human connection and insight.

The company’s sales strategy integrates personalized client interactions, in-depth market analysis, and years of experience navigating Hawaii’s unique real estate ecosystem. Clarke’s background in managing family assets and his global perspective is significant in shaping this essence.

Future Directions for Private Listings by Harold X. Clarke

As Hawaii continues to attract global attention, Private Listings aims to expand its influence within the state while maintaining its core principles. The company is currently developing a new platform to streamline services for UHNWIs, blending their demand for discretion with seamless access to Hawaii’s finest off-market properties.

Additionally, Private Listings is strengthening its ties with local communities, recognizing that sustainable growth benefits both the company and the islands’ ecosystems.

Private Listings by Harold X. Clarke has set itself apart in Hawaii’s real estate scene by moving away from the typical mass-market approach. Through a mix of traditional values and modern sensibilities, the firm continues to define what it means to transact ultra-high-value properties with integrity and care.