Ryan D. Smith Realtor

Ryan D. Smith Realtor Ryan D. Smith is the Broker and owner of Tier 1 Real Estate with offices in Bristol and Avon CT.

09/17/2024

19+ years since I bought my first rental property!

👇3 lessons I have learned in that time 👇

Things will cost more than you expect 🙃. If the numbers on an investment barely work with estimated income and expenses, there is a good chance you will end up losing money📉. Build in an unknown factor into any forecast budget of 10-20%. Increasing rents 📈 can off-set the costs over the long term but in the short term you need to be realistic with what you are up against.

Become an expert in your market 🤓. Determine where you want to invest in and then look at as many properties as you can! This will give you the confidence to be aggressive when a good deal presents itself and pass on the average deals.

Find a mentor and develop relationships within your space 🤝 Having a mentor is a great way to accelerate your learning curve. Also, you need a network of partners which can include lenders, real estate brokers, capital investors, lawyers, property managers, and contractors. Your network is critical to your success 👏


09/10/2024

2024 marks 20 years since I became a Realtor 🥳

Here are 3 important lessons that I have learned in my 20+ year career:

1) Be an expert in your market: To be a great Realtor you need to be up to date on the homes that get listed for sale in your market area. This will help you to develop an intuitive sense of value/pricing. It enables you to reach out to buyers proactively with property suggestions and to discuss past sales intelligently on listing appointments even if the property being discussed is not included in your market analysis report.

2) Be an advocate: but don't be an a$$hole 😝: You can battle on behalf of your client without being rude or unprofessional to the parties on the other side of a transaction. When you feel yourself getting too emotionally invested in a disagreement, take a break and revisit the situation once you have calmed down. Keep the end goal in mind.

3) Relationships will determine your success: Client relationships are built on trust. Trust develops when you follow through on what you promise and when you put your clients' interests first. Relationships will lead to repeat customers and referrals.

🎈OPEN HOUSE SUNDAY 1-3 PM 🎈103 Great Pyrenees Way Bristol, CTOFFERED AT $584,900
03/23/2024

🎈OPEN HOUSE SUNDAY 1-3 PM 🎈

103 Great Pyrenees Way Bristol, CT
OFFERED AT $584,900

02/16/2022

Buyers are making a lot of concessions right now to get their offers accepted in a competitive market 🔥🔥🔥

Some buyers are waiving their right to a home inspection. This is a bad idea for most buyers and I don’t recommend it unless the buyer is a contractor or seasoned investor.

A second concession is to offer to pay above the bank appraised value in the event that the property doesn’t appraise for the full purchase price. I support this option for buyers who have the extra down payment available and really want to secure the property! It enables buyers with a mortgage to compete with cash offers 🤑

01/20/2022

If you want to improve your conversion rate with buyers you need to ask this questions after every time you show them properties:

“Do you want to submit an offer on any of the properties we saw today?”

ACTUALLY ASK THE QUESTION. It might be just the little nudge they need. If they find that question to be too “pushy” they are not serious buyers in this market!

01/03/2022

‼️NOT ENOUGH HOMES LISTED FOR SALE ‼️

BUYERS: It’s going to be another tough winter/Spring for home searching BUT it’s NOT too late in the housing market cycle to find something. I believe home prices will be higher at the end of 2022 than they are now so you don’t need to worry about the bottom falling out if you buy something 👍🏻 Know what you want, and be aggressive when you find it!

SELLERS: With the number of homes for sale at all time low 😵 no need to wait until Spring to list 🤑

11/12/2021

NOVEMBER HOUSING UPDATE:

SELLERS: Inventory of homes for sale is so low right now that you should not wait until after the holidays to list your home for sale. List it now but with the understanding that your days on the market might be longer this time of year. You can still get a geat price you just need a little more patience 🤑

BUYERS: If you are looking for a home right now, it is less likely that you will need to go over asking price to get your offer accepted. Properties are also less likely to sell quickly before you get a chance to go see them 👌

10/28/2021

If you have clients who are “waiting it out” for prices to come down before they buy, you may want to let them know this:

The National Assocation of Realtors recently came out with a study saying that the U.S. is about 5,000,000 homes short in supply of homes of where it should be. Building new homes is getting more difficult and more expensive 😳. They estimate that it could take more than a decade to meet the demand for housing 😵

Even at today’s prices, single family homes and affordable multi-family real estate will continue to be a great investment over the long term! 🚀

10/12/2021

Right now could be your best opportunity to buy a home because:

There are less properties selling for over the asking price 🤑

There are less multiple offer situations 🤪

But don’t wait too long 🙃 This winter inventory will dwindle down as we head into the winter 🥶, and then buyers will be competing with each other again!

Address

412 West Avon Road
Avon, CT
06001

Telephone

+18605782016

Website

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