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Study: Marijuana legalization has no negative effect on property values

(REAL ESTATE MARKETING) Wondering how the growing legal marijuana business has changed the real estate world? The National Association of Realtors® has answers!

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marijuana worker

Recently, Illinois became the 11th state to legalize marijuana. 33 states – including Utah, of all places – allow for the use of medical marijuana. No doubt, Illinois won’t be the last in this train of legalizations, which have started to bring up a number of changes for various industries. When it comes to real estate in particular, there are real questions about what this means for the future.

Jessica Lautz, Director of behavioral and demographic trends at National Association of Realtors® (NAR), explains the importance of studying the effects of legal marijuana on the real estate industry: “Whether it is influencing property values, the number of all-cash purchases or demand for various types of commercial properties, it is clear that this billion dollar industry is making an impact.”

Thankfully, the NAR has put in the work to begin to answer some of these questions. Their brand new survey – which you can access here – collected responses from about 4,000 NAR members who operated in states with some form of legalized marijuana usage, whether medical or recreational. They provide insights into changes the industry is facing and may continue to face as marijuana usage spreads.

The survey explores facets of commercial and residential real estate, including the effects of owning property near a dispensary, how often tenants grow their own marijuana and whether or not a home is harder to sell if the inhabitants were smokers, among other issues. NAR provides the statistics in easy to digest text snippets and graphs, making the study an accessible read for anyone hoping to gain a better understanding of the shifting industry.

If you’re worried about the budding marijuana industry (sorry about the pun) negatively affecting your business, you can breathe a sigh of relief. While some people have reported increased troubles surrounding the intersection of marijuana and real estate, most surveyed insist there has not been any noticeable change! Aside from a few tweaks here and there for how business operates, it appears to largely be smooth sailing for realtors.

Interested in learning more? You can check out the full survey report at the NAR’s site.

Brittany is a Staff Writer for The American Genius with a Master's in Media Studies under her belt. When she's not writing or analyzing the educational potential of video games, she's probably baking.

Real Estate Marketing

This app simplifies all your website’s growth and marketing

(REAL ESTATE MARKETING) While making a website is easy as pie these days, getting your website’s growth off the ground is less straightforward. Luckily, Notification Panda makes it easy!

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Website's marketing and growth on a laptop open to website in progress.

Setting up a website isn’t all that complicated today. There are various content management systems with templates that make it easy to get a website up and running in no time. The hard part of having a website is figuring out how to drive traffic to it so it can grow.

While there is no right or wrong way to increase your website’s growth, there also isn’t a lack of tools to help you get started either. Notification Panda is a social proof application for marketing agencies, e-commerce websites, bloggers, and all types of businesses.

The app offers you different ways to send out notifications to your visitors so you can interact with them more and increase sales. Best of all, no coding skills are required!

Notification Panda works well with a lot of popular website platforms like WordPress, Squarespace, Shopify, BigCommerce, and Zapier. The app’s only requirement is to have a website where you can copy your code from the app’s dashboard and paste it into your website for the notification(s) to appear.

According to their website, Panda is easy to set up with three simple steps. You create a campaign, create the notification, and publish it.

With the tool, you can track your campaigns and notifications. Activities such as email signups, demo registrations, purchases, and downloads from your website can all be tracked, which makes tracking your website’s growth even simpler.

The types of notifications Panda has to offer range widely. There are customizable informational bars. There is a live counter-notification that displays how many people are on your site. There is a countdown timer that helps you create urgency and FOMO and input in lead generation. There’s even a conversion counter type of notification so you help further establish social proof.

Any website can run the app, and its notifications are 100% compatible with Mozilla Firefox, Google Chrome, Apple Safari, Microsoft Edge, Opera, Brave, and others. It’s also compatible with mobile web browsers and can even work on some Smart TVs.

Notification Panda offers different pricing plans. And, if you want to make sure it’s right for you, the company offers a free trial.

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Real Estate Marketing

How knowing ASL as a Realtor makes you more accessible

(REAL ESTATE MARKETING) Since America is the cultural melting pot, language can be a sizable barrier. One language that many people forget about is ASL, but not these Realtors

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ASL signs

The wonderful world of real estate is full of twists, turns, negotiations, and legalese. Most people struggle to grasp the language and terms clearly. If ASL, American Sign Language, is their primary language, having a realtor fluent in ASL could be quite helpful. Deaf clients are often underserved in real estate dealings.

There can be a language and communication issue when deaf customers work with hearing agents. Nobody needs any disadvantage when the paperwork is signed. People need to be able to follow along in every conversation and negotiation well, to understand what is being offered and what they are agreeing to. An ASL-fluent real estate agent is an excellent way for deaf people to fully participate in and understand their own real estate transactions.

No matter what, people need a realtor who’ll lead the way, guiding them through the intricacies of the contracts and terms, and advocating for them when needed. With every step of buying a home or property, most customers have questions. Therefore, for deaf people, finding a realtor who speaks their primary language, ASL, is a key factor.

It isn’t always easy to find realtors in your area who are fluent in ASL, but we found Amy Seely, of The Seely Group with Keller Williams Realty in Austin, Texas. Seely grew up with deaf parents, and has used ASL her whole life. “Because I grew up with deaf parents, I feel that it’s my duty to help the hearing and the deaf communities,” says Seely.

Maria Galluci, real estate agent in Fort Collins and Colorado Springs, has a similar story. She grew up with deaf parents, and after acting as their interpreter when they bought their home. That experience led her to pursue a path in real estate, as she realized sometimes people take advantage of them due to the communication gap.

A quick Google search pulled up various databases of ASL-fluent real estate agents, based on area. One database lists 64 Texas real estate agents who speak ASL. We found another for DC, MD, and VA. Thank goodness for the internet. Hopefully deaf people will be able to find a realtor adept in ASL and experienced in real estate. Finding the ideal realtor who can walk you through the process is worth the time spent searching.

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Real Estate Marketing

Warning: User-generated content hikes your business insurance rate

(MARKETING) User-generated content is a phenomenal marketing tool when used properly, but it can impact your business insurance rates and potentially E&O rates…

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user-generated content

The use of “influencers” on social media and the sharing of user-generated content (UGC) isn’t a new thing in social media marketing. In fact, it’s one of the best ways to generate excitement and curiosity about your brand.

The best reviews are always those from real users, and the best advertising is the one you didn’t have to create: Those are social media marketing golden rules.

The implementation of user-generated content however, is rife with some potential troubles, especially when added to your own website.

A lot of businesses can operate under the idea that the average social media user is okay with the sharing of their content. While some of them will be, you run the risk of crossing an invisible line with someone who then generates negative press about you and/or your company. And of course, there is always the possibility of litigation.

Some insurance companies aren’t taking UGC into account, even today, while others will certainly ask whether you’re using it (and will charge you accordingly). This could impact your business insurance rate and potentially your Errors & Omissions rate.

It’s in your best interest to be above board on user-generated content and it always begins with the first step – asking for permission. How you ask for permission depends on the medium, but be sure to get a DM, email, tweet, or something that clearly shows the content creator giving you the right to use that image (and document that permission in a way that you can locate it in the far future). This prevents you from getting into a whole lot of trouble, and allows you to use user generated content most effectively.

Pro tip: If you’re going to be working with the same brand ambassador or influencer, make sure any contracts or agreements you have include a waiver that allows you to repurpose content they create that impacts your brand.

This is an easy thing to do, and it will help protect the integrity of your brand and your online presence – make sure it’s part of your social media strategy.

But it should be noted that there are merits to only using content that you create yourself – it’s more secure, more controlled, and it typically decrease the cost of your business insurance as it’s less risky. Because a lot of brands don’t ask for permission, UGC takes on some risk and skyrockets insurance rates.

The decision to use UGC should be a smart one, and if you do decide to use it, just follow the golden rules: Ask nicely and keep a paper trail.

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