Several years ago, while I was at the AZREIA monthly meeting, I was watching Alan Langston do the market update as he has every month for almost 20 years now. This was around the time when single-family home prices started to drastically increase. When this happens home buyers traditionally go towards condos and townhouses because of the lower price point. Once Alan made that comment I realized what I needed to do. The next day I changed my marketing tactics, I switched all my campaigns from SFR to Condos and Townhomes, and low and behold, I started seeing the results and purchased three condos over the next 45 days. I am not the only person who has had an “aha” moment like this after getting the AZREIA market update, either.
Just this past month, David Pickron, owner and founder of Rent Perfect, came to our Income Property Owners Subgroup and also recorded a podcast interview with Marcus Maloney and me. During this interview, he said something to me that reminded me of my own story above. He told me that several years ago he attended an AZREIA meeting and during the market update Alan gave the audience some advice based on the trends in the market. David then took this advice, sold several homes, and made hundreds of thousands of dollars.
We hear stories all the time from AZREIA members where the market update has provided the valuable insight they needed to pivot their company and make good business decisions. That is because we take typical market information and present it from an investor’s point of view. Because of this, we have helped thousands of members put money in their pockets and keep it there.
Our goal is to provide you with the best information you can use for your business, so why not listen to what’s actually going on inside the market? Just last month at the Tucson Monthly Meeting I asked one of my panelists about what she was seeing in this hot market. Do you know what she said? There has actually been a DECREASE in the openings of escrow. So why such a hot market if there seem to be fewer people opening up escrow? I won’t dive into it here, you can reach out to Business Associate Barbi Stewart from Fidelity National Title for her answer. Needless to say, this insider information is not something you will be able to find in Phoenix Business Journal. That’s why I’m taking the time this month to write to you, our community, about how we should come together to educate and help each other.
AZREIA has grown to have a few thousand members across the state. A community of this magnitude and strength has enough knowledge, data, and information to put our heads together to create real, granular market insight no one else has the ability to gather the way that we can. We can pull from all of our experiences to create an advanced market update for our members to use to grow and make smart business decisions.
An example of this was during the quarantine period of the COVID-19 pandemic. AZREIA had our monthly meetings online. Because of this, we were able to do live polling where we were able to see how landlords across the state were handling the eviction moratoriums. This valuable information showed that, compared to other polls done across Arizona and the country, AZREIA members were able to handle the eviction moratorium better on average, and the number of AZREIA landlords that were still receiving payments was extremely high in comparison. This gave us an opportunity to discuss what strategies our members were using that helped them greatly succeed during the moratoriums and be able to share that with others in the community to help us all do better during a difficult time.
We want to continue to provide valuable information like this to the community, we’ve decided to roll out our own market data, an “AZREIA Report” per se, and be able to share this with you to help you make even better business decisions. We will continue with our regular market updates as well, but we will also create a way to poll our members and report the findings to you for exclusive market data that you have insider access to (pretty nice to be an insider, huh?). To start, we want to hear from you about what specific information you want us to start gathering. You can use this link to submit any ideas you may have: https://forms.gle/6HPMJjqLivTGAKFs9 We look forward to reading your responses and thank you for your participation!
Michael Del Prete
Executive Director, AZREIA