Rent on the Rise

Plus, a bonus download for our loyal readers

June 21, 2024

#40

WELCOME

How do high-end agents like Josh Flagg, Tracy Tutor, and Glennda Baker land luxury leads—and multi-million-dollar deals? Hint, it takes more than trendy video content and a killer personal brand!

In his new guide, available exclusively to our Estate Weekly readers, Josh shares his insider secrets for networking at high-impact events, attracting high-value out-of-town leads, and turning connections into clients. 

Want to know more? Check out this message from Josh himself, and grab a copy of the guide here. 

SHARPEN YOUR SKILLS

🔊 Today’s Top Reading Rec:

With over two decades of industry experience buying, selling, and building, Raleigh Realtor Gretchen Coley knows real estate inside and out. In this week’s episode of Glennda’s Guru, Gretchen shares her story, including how fitness and nutrition fuel her success, what energizes her business, and the advice she’d give her younger self.

MARKETS

Rental Rates Are On The Rise

They don’t know about you, but renters are feeling like it’s ‘22. Last month, asking rents reached their highest point in nearly two years, coming in just shy of the all-time rental rate record. This uptick follows a year of plateauing rates across much of the country—and even a decline in some major markets. 

By the numbers:

  • Washington, D.C., Cincinnati, and Chicago have seen significant double-digit rent increases year-over-year.

  • While multifamily unit construction ramped up during the pandemic, slowing construction rates over the past year, plus the influx of young renters price-locked out of buying, have boosted rental demand and rates. 

  • The national rental vacancy rate has stabilized at around 6.6%, the highest seen since 2021, which indicates rent may be nearing a high—or a reversal. 

REC ROUNDUP

The Friday Five

📖 Show your worth. Why so many agents publicize themselves wrong—and how to avoid this mistake. 

👀 Storming the castle. Even the drawbridge couldn’t stop this listing larceny. 

👀 Oakdale at Mordecai. Tour a charming modern-meets-classic home just north of downtown Raleigh. 

💡ICYMI. The best moments from Glennda’s recent interview on Rise Above the Ranks with James Harris and David Parnes. 

💡Present like a pro. How Tracy Tutor turns listing pitch appointments into lifelong clients.

WHAT’S NEW FROM ESTATE MEDIA

Welcome to The Playbook

Real estate investing offers one of the best paths to wealth creation available to investors. But knowing what news to pay attention to, understanding the myriad ways to deploy your capital, and staying up-to-date on the ever-changing environment of opportunities and risks takes more than scanning the headlines.

In The Playbook, our newest weekly newsletter, we’re partnering with Morning Brew to deliver everything you need to know to be the sharpest real estate investor on the block straight to your inbox every Thursday. Subscribe now to be one of our first readers—then hit reply to tell us what you think. 

The Playbook

Build wealth through real estate investing

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Springdale Serenity

Today’s featured listing, situated in upscale and eclectic Wake Forest, North Carolina, is designed for sophisticated living and easy entertaining. With a lavish primary suite surrounded by serene wooded views, a gourmet kitchen equipped with custom cabinetry, and lush landscaping, this listing is a gem in its own right.

estate-elegance.beehiiv.com/p/springdale-serenity

Like what you see? Reach out to listing agent Gretchen Coley to learn more and schedule your tour.

ESTATE MEDIA NEWSLETTERS

Estate Elegance. Your daily dive into luxury real estate. Everyday.

Homes.tastrophes. Unique, weird, and wild real estate. Every Monday

The Blueprint. Stay up-to-date on the world of residential real estate. Powered by James Harris & David Parnes. Every Tuesday and Friday.

The Glennda Gazette. Real estate, real life, in real time. Every Wednesday.

The Playbook. Your ultimate guide to mastering real estate investing. Every Thursday.

WAS the Newsletter. Explore interior design advice and inspiration. Every Friday.

With 156M unique monthly visitors, Homes.com is becoming the home search tool to beat. As proud partners of Homes.com—which just doubled the amount of traffic seen on platforms like Realtor.com—we’re thrilled to be aligned with the tool empowering agents and clients throughout every stage of the transaction process. If you’re not already on it, check out Homes Pro today, and bookmark your new favorite business tool.

Before we go…

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