Page 2 - Florida Sentinel 8-12-16 Online Edition

Features
Black Realtors Reaping The Benefits Of Good Market
BY KENYA WOODARD Sentinel Feature Writer
Low inventory and high demand make for a hot real es- tate market and local Black Realtors say they are reaping the rewards handsomely.
“It is going exceptionally well,” said Ann Thompson.
Thompson, the owner of Ann Thompson Realty, started her real estate career in the 1980s. Her property manage- ment business saw 20 percent increase in the first quarter of the year and enrollment in her real estate school has doubled.
Sales are booming too: in just the first six months of 2016, Thompson’s firm made what it did in all of 2015.
According to Realtor.com, top zip codes in the county in- clude Carrollwood, Town ‘n’ Country, and the Citrus Park areas.
Real estate agents say im- provement in the market and the availability of home-own- ing programs have contributed to an increase in activity.
With more than 30 years of experience in the industry, Thompson said she’s seen many ups and downs and has learned how to pivot during downturns.
She and other agents say the key to doing well – or not – in the real estate business comes down to relationships.
It’s especially critical for African-Americans who, ac- cording to the federal Bureau of Labor Statistics, are just six percent of real estate agents.
“If you service the people, the money will come,” she said. “If you don’t, your repu- tation will suffer and people won’t want to do business with you.”
Barbara Whittaker of
ANN THOMPSON ...Ann Thompson Realty
Lion’s Group Realty con- curred.
“If you have a good reputa- tion, your referrals are always keeping you afloat,” she said.
Both Thompson and Whittaker agree that being flexible helped them thrive through the 2008 housing crash.
Thompson said she had the foresight to start a prop- erty management company when things were going well. Business was initially slow, but picked up full-steam after the market tanked and home sales were almost non-existent.
Her real estate school is another “slot machine” that Thompson said she estab- lished to help her weather the next crash.
Having a niche – such as commercial or residential real estate, for example – also is helpful, Whittaker said.
“It’s better to be an expert than a jack-of-all-trades,” she said.
Agent Chris Brown said his broad experience in the real estate industry has been key to his success in the field.
Brown started his career in 2004 as a mortgage broker. Since then, he’s rehabbed
BARBARA WHITAKER ...Lion’s Group Realty
homes, worked in property management, and obtained his real estate license.
During the crash, Brown said he relied on his marketing and promotions business to generate income.
Now that the market is again booming, Brown said he enjoys building his wealth while helping others fulfill their dream of home owner- ship.
“It’s a lucrative profession that allows me to have an im- pact on someone else’s life,” he said. “Every day they wake up in their home or come home, I had something to do with that.”
Five Tips to Help Make The Home-Buying Process Go Smoothly
Looking to purchase your first home? There’s more to it than just finding a house with the perfect breakfast nook. Do some financial homework be- fore jumping in the market.
1. Check your credit. Scour the reports for mistakes, unpaid accounts or collection accounts. Just because you pay everything on time every month doesn't mean your
CHRIS BROWN ...Real Estate Agent
credit is stellar, however. The amount of credit you're using relative to your available credit limit, or your credit utilization ratio, can sink a credit score.
2. Evaluate assets and liabilities. Track your spend- ing for a couple of months to
see where your money is going. Also, be familiar with the basics of mortgage lend- ing.
3. Organize docu- ments. Homebuyers must document income and taxes. Be sure to have tax returns and bank statements handy.
4. Qualify yourself. Use a mortgage calculator now how much you can afford to spend before the mortgage lender tells you how much you qualify for. By calculating debt-to-income ratio and fac- toring in a down payment, you will have a good idea of what you can afford, both upfront and monthly.
5. Figure out your down payment. Look for programs that assist buyers with qualifying incomes. Source: Bankrate.com.
Grant Writing
Workshops Planned
For August
The Center for Non-Profit and Community Development and the National Institute for Strategic and Tactical Planning will host free professional grant-writing workshops during the month of August. The workshops will take place on two sepa- rate dates.
Both workshops will be held at the Children’s Board of Hills- borough County, 1002 E. Palm Avenue.
The first workshop this month will take place Monday, Au- gust 29th, from 2 p.m. to 3:30 p.m.
The second workshop will take place on Tuesday, 30th, from 2 p.m. until 3:30 p.m.
Both workshops will cover the same information. Seating is limited and anyone wishing to attend the workshops must e- mail nonprofitcenter1@aol.com to confirm a seat and to obtain an invitation and workshop packet. No one will be admitted without an invitation. For more information contact Michael Randolph at (813) 857-7657.
While the workshops are held at the Children’s Board of Hillsborough County, the organization is not a sponsor of the event and does not endorse or support the content of the ma- terials, presentations, staff, volunteers, or messages delivered during the workshop.
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