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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

Why you should quit using ‘no-reply’ emails immediately

(REAL ESTATE MARKETING) No-reply emails may serve a company well, but the customers can become frustrated with the loss of a quick and easy way to get help.

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no-reply email face

Let me tell you a modern-day horror story.

You finally decide to purchase the item that’s been sitting in your cart all week, but when you receive your confirmation email you realize there’s a mistake on the order. Maybe you ordered the wrong size item, maybe your old address is listed as the shipping location, or maybe you just have buyer’s remorse. Either way, you’ve got to contact customer service.

Your next mission is to find contact information or a support line where you can get the issue resolved. You scroll to the bottom of the email and look around for a place to contact the company, but all you find is some copyright junk and an unsubscribe option. Tempting, but it won’t solve your problem. Your last hope is to reply to the confirmation email, so you hit that trusty reply arrow and…nothing. It’s a no-reply email. Cue the high-pitched screams.

Customers should not have to sort through your website and emails with a microscope to find contact information or a customer service line. With high customer expectations and fierce ecommerce competition, business owners can’t afford to use no-reply emails anymore.

Intended or not, no-reply emails send your customer the message that you really don’t want to hear from them. In an age when you can DM major airlines on Twitter and expect a response, this is just not going to fly anymore.

Fixing this issue doesn’t need to be a huge burden on your company. A simple solution is to create a persona for your email marketing or customer service emails, it could be member of your team or even a company mascot. Rather than using noreply@company.com you can use john@company.com and make that email a place where your email list can respond to questions and communicate concerns. Remember, the whole point of email marketing is to create a conversation with your customers.

Another great strategy for avoiding a million customer service emails where you don’t want them? Include customer service contact info in your emails. Place a thoughtful message near the bottom of your template letting people know where they can go if they’re having an issue with the product or service. This simple change will save you, your customers, and your team so much time in the long-run.

Your goal as a real estate practitioner is to build a trusting relationship between you and your customers, so leave the no reply emails behind. They’re annoying and they might even get you marked as spam.

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Real Estate Marketing

This AI tool turns your powerpoint into a narrated presentation

(MARKETING) Narakeet is a new software presentation tool that uses AI to simplify adding narration, subtitles, and more in your presentations.

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Narakeet, an AI presentation making tool

Good narration helps give presentations that extra oomph. It takes plain text and gives it life. It turns a dry presentation slide into an enjoyable one. But when it comes to narrating something, I know I’m not the narrator most people would be looking for. I speak too softly and laugh too much. I’ve had to record and re-record myself more times than I can count. This isn’t much fun, and it eats up a lot of your time. So, if you’re like me, there might be a solution for you.

Formerly named Video Puppet, Narakeet is an online service that helps people easily make narrated videos without all the headaches. Founded by Gojko Adzic, this time-saving software tool uses artificial intelligence to create life-like narration from speaker notes in a presentation. Currently, the tool supports PowerPoint, Google Slides, Keynote, and OpenOffice files.

To create your presentation, you simply upload your PowerPoint or other presentation file to Narakeet. Presentation settings can be customized by video size, volume, music, subtitles, voice, and language. Right now, the platform supports 20 languages, but more languages will be added in the future.

From your file, the tool will create life-like narration using the “latest neural text-to-speech systems.” It will synchronize pictures with sound and resize the images and video clips to fit the format you selected.

If you opted for subtitles, they will automatically be generated for you; say goodbye to hours of transcribing! And, at least for me, I won’t have to worry about people suffering through my terrible narration.

“Narakeet takes care of all the boring and time-consuming tasks of video editing, and lets authors focus on creating good content,” Gojko said.

According to their video, anyone can “edit videos as easily as editing text.” If you made a mistake or want to tweak anything, all you have to do is change the script. By clicking the “Improve” button, you can upload the updated file. Then, Narakeet will take care of the rest.

For some, an AI-generated voice might not be your cup of tea. As a developing software, it can still sound a little too parrot-like. Or maybe your beautiful and pleasant voice needs no alteration. If you fit either of those two, there is an alternative!

The tool lets you replace the narration with your own audio. Depending on your presentation, Narakeet “will automatically speed up or slow down video clips to make sure that each scene is perfectly aligned with your voice.”

For trainers, educators, and marketers, this tool allows you to create videos without having to use traditional editing tools. For teachers, especially, this is a great tool to create virtual lessons. According to Narakeet, they “will create the video so you can publish and impress.”

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Real Estate Marketing

Top reasons people unsubscribe from emails

(MARKETING NEWS) Sometimes promotional emails can cause us to purge our inboxes due to over-inundation. New data examines specific reasons customers unsubscribe from mailing listings.

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I recently registered my work email with a company that shall not be named in an effort to receive a 20% off coupon. While I received the coupon, I also found myself receiving somewhere around 10 emails per week from this company. But after a few weeks, I had no choice but to unsubscribe from this email listing. Though it did give me the option to minimize email settings, the overwhelming amount I already received was such a turn off that I unsubscribed completely.

This has happened time and again with countless other mail listings, and I know that I’m not the only one burdened with email after email. Apparently this is such a common occurrence that eMarketer was able to conduct a survey that complied the top reasons why people tend to unsubscribe from email lists.

The major reasons were broken down into 13 categories.

The additional reasons were as follows: 21% report that the emails were not relevant to them; 19% received too many emails from a specific company; 19% complained that the emails were always trying to sell something; 17%t stated the content of the emails were boring, repetitive, and not interesting to them.

Additionally, 16% unsubscribed because they do not have the time to read the emails; 13% stated they receive the same ads and promotions in the email that they receive in print mail (through direct mail, print magazines, newspapers, etc.)

Furthermore, 11% stated that some emails can be too focused on the company’s needs and not enough on the customer’s needs; 10% felt that certain emails seemed geared towards other people’s needs and not their own. Another 10% did not like the appearance of certain emails, stating that they were too cluttered and sloppy.

An additional 10% didn’t trust the email to provide all of the information necessary to make purchasing decisions. Finally, 1% claimed “other” reasoning as the main cause.

Fully 7.0% unsubscribed from certain email listings because they said emails did not look good on their smartphones. This is important for marketers to keep in the back of their minds.

Assess your email marketing strategy to ensure you’re fitting the needs of consumers, not just your own personal preferences. Data doesn’t lie.

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