The San Diego real estate market is expected to be incredibly lucrative for savvy entrepreneurs who invest wisely in 2014. Market conditions look to continue favoring those who familiarize themselves with current trends. However, entrepreneurs are not the only ones who will benefit from the upcoming year. Both agents and investors can expect to experience high yields if they establish a relationship with the right individual.
Why are entrepreneurs positioned to have a big year? What types of property are they likely to be interested in? More importantly, what’s the key to successfully working with them? Knowing the answers to these questions may help your career immensely.
The Year of the Entrepreneur
America’s entrepreneurial platform has been growing. Now that other elements are lining up, 2014 promises to be a huge year for those that have conducted the appropriate research.
Between new start-ups, armies of new entrepreneurs , the massive boost in hiring , venture capital and a slew of new IPOs, 2014 could easily go down in history as ‘The Year of the Entrepreneur.’
They’ll be among the most bullish on real estate, in need of the most new space, and have the cash to execute.
What They Want:
Entrepreneurs will provide a lot of business for San Diego real estate companies.
Expect new entrepreneurs and founders to search for affordable rentals while they work to get their business ideas off the ground. Others will be celebrating their wins by hunting for prime oceanfront lots or building luxurious custom homes. Savvy entrepreneurs will be looking for direct brick and mortar investments for diversifying their holdings.
San Diego & Beyond
Entrepreneurial hubs are popping up all over the place from Southwest Florida to Michigan and beyond. However, San Diego County will continue to be a huge magnet for these next generation business leaders.
San Diego offers a lot more than many may realize. It is more affordable than New York and San Francisco, yet is still an economic powerhouse in a highly desirable location. This will help the area to attract more business owners while simultaneously driving up local rents and home prices. A culmination of factors will help San Diego grow economically. As it does, more successful entrepreneurs will want to settle down there.
How To Win Them Over
It is important for San Diego real estate investors and Realtors to recognize the difference in working with these clients as a means to connect and close, as opposed to gaining repeat business.
The most obvious difference in connecting with this pool of renters, home buyers, sellers, business owners and investors is perhaps the medium that works best. We aren’t talking about being online. They aren’t likely to sync or respect you if you don’t have an up to date design, decent social media presence and perhaps even video call or virtual open house options.
Verbal messaging is just as critical. You have to speak their language. It’s crucial to understand the media they use the most and through which devices they reach their consumers.
Respect how insanely busy they are, and that they place a ton of value and priority on efficiency and speed. Provide the data, do it quickly and make it easier to act.
Be mindful of the features that are most important to these individuals. For some, “walk-ability” may be an element, but for the most part, today’s entrepreneur is completely location independent. Property tastes may still be incredibly varied, but home offices, modern minimalism, spiritual spaces, and access to fitness facilities are all current trends.
