mikale deloach - texas a&m university · 2014. 10. 8. · agec 317: economic analysis for...
TRANSCRIPT
AGEC 484: Industry Internship Program
Mikale DeLoach Transaction Coordinator
Internship with Keller Williams Realty Brazos Valley
Summer 2014
1
Part I
2
Real Estate Economic Principles
Supply & Demand are the driving factors behind the real estate
industry
There is a trade-off factor with all real estate transactions
An opportunity cost exists during the negotiation process
External economic factors influence real estate trends,
including but not limited to, government efficiencies – specifically
pertaining to the financial market, household income,
demographics, and more
Real Estate Valuation
Comparative Market Analyses (CMA’s) are preformed in order to
determine the most probable sales price
Market performance and stability
play a role in the pricing analysis of
property
It is not all about the market
fluctuation in valuing property,
it can also be specific factors
of the property itself, including
the age of the property
Varying of the type of
property and it’s usage, there
are different methods as to how
one goes about estimating the
value of a property
Part I
3
Part I
4
Real Estate Marketing Strategies
Drip Marketing Campaigns
Mail Out Marketing Material
Social Media Influxes
Calling For Sale By Owner (FSBO’s)
Specific Selling/Listing Marketing
Material
Clientele feedback publication &
syndication
Appreciation & referral gifts
Email Blasts
Lead Generation
Real Estate Sales Techniques
Face-to-face communication &
interface
Customer centric focus
Not just Business-to-Customer
(B2C) relations, also Business-to-
Business (B2B) relations
Part I
5
Real Estate Networking
Build, manage, and maintain a client database
Socialize and meet individuals; talk real estate
Attend community functions and seminars
Advocate within the community
Business cards and marketing tools/techniques
More than who you know; it’s giving a level of quality service
and building a network of referral business
Part II
6
Prior Academic Preparation
AGEC 217: Fundamentals of Agricultural Economics Analysis This course helped for the sole purpose of formula usage with Microsoft Excel, as well
as data analysis in respect to the internship
AGEC 314: Marketing Agricultural and Food Products This course helped for learning how and why marketing works, and the different cycles all commodities go through
AGEC 315: Food and Agricultural Sales This course helped for business interaction, how to sell, and how to present oneself to the professional industry
Part II
7
Prior Academic Preparation
AGEC 317: Economic Analysis for Agribusiness Management This course affected by comprehension of regression analysis and economic
outliers
AGEC 330: Financial Management in Agriculture This course was essential for all financial purposes within the industry and its application was crucial for the success during the internship
AGEC 344: Food and Agricultural Law This course was applicable for the real estate industry as a whole, because it is highly regulated in many ways, and having an advanced knowledge on this subject matter helped
Part II
8
Prior Academic Preparation
AGEC 340: Agribusiness Management This course exposed influential business professional in various industries and each of their own stories was inspiring to achieve any opportunity at hand
AGEC 429: Agricultural Policy This course exposed current economic events and how they influenced different market sectors and how the economic trends
filtered into different submarkets
AGEC 481: Ethics in Agribusiness and Agricultural Economics This course showed how to deal and handle testy situations in the business world and make personal judgment calls as to what is deemed right and what is deemed wrong
Part III
9
Academic Needs
A valuable asset to have would be managerial skills; how to
manage people
A great skill set to have would be comprehension of how to
value property, what all entities go behind putting a price on a
piece of property
A beneficial course would have been on marketing
management and marketing strategies as it pertains to current
economic trends
Part III
10
Academic Needs
An introductory course on how to manage a business,
specifically goal planning as it relates to a business entity
Any information on capital structure would make a huge
impact on how to manage financial aspects of
the real estate industry
All facts as it pertains to rural real estate would be
beneficial, because rural property is so unique and
different from any residential transaction
Part III
11
Academic Needs
All commercial and development knowledge would help for
future understanding, in the event of economic expansion and
growth
Acquiring a real estate license and taking the courses
pertaining to such license would make the understanding of all
details and aspect of real estate easier
Part IV
12
Impact of Internship
The internship was nothing what I expected it to be—it
was better than I could have imaged
Real estate isn’t just about a pretty face and the gift of
gab
Part IV
13
Impact of Internship
After much resistance, based on my original real estate
perception, I am pursuing my real estate license
The behind-the-scenes action of a real estate transaction plays
a major role into the success of a real estate business
Part IV
14
Impact of Internship
The Bryan-College Station area is not a high dollar market
Learn and grow