At the end of 2017, the value of the world’s real estate reached US$280.6 trillion, which is the highest figure recorded. This is an annual increase of 6.2%. Surprisingly, residential real estate accounted $US220.6 trillion with commercial real estate US$33.3 trillion. Agricultural and forestry real estate was worth $US27.1 trillion.
Buying and selling property is still one of the best investments, and one man who knows that only to well is Jason Harriman, the Founder of The Harriman Group and CEO of Harriman Ventures. Jason Harriman agreed to sit down during his busy schedule and talk about the real estate world and his company.
- You are the CEO of The Harriman Group, who and what are the they?
The Harriman Group is a real estate company based out of San Antonio, TX. We focus on residential and investment real estate sales as well as coaching for other sales professionals.
- Can you explain your route from your first job to becoming a CEO?
After I got out of the military, I was struggling to find a real passion. So I started a non-profit that focused on coaching people on resume and interview skills. This turned into sales coaching for a variety if industries including real estate. During this time I met with a bunch of great real estate agents and really found an industry I was excited about. I got my license and started with a top producing real estate team. Over time I emerged as a top producer and was offered a regional partner opportunity. As a partner, we grew our team to one of the top 20 real estate groups in the country. As with most things, we grow and I saw a great opportunity to partner with eXp Realty which is a company that is the future of real estate. I took my region, rebranded and now lead a top producing real estate team under my umbrella.
- Your company has sold more than $100 million dollars in real estate, what is your secret?
Lead generation is the key to any sales industry. People think it is the shiny toys and technology. Those help but the key that led us here is lead generation. When you have the people wanting to buyer and sell come to you, you will grow as far as you want.
- On average, properties sold through your company are on the market for 26 days, that is a very fast turnaround, what is the secret to your success?
I maintain a strong social media presence with more than 50,000 followers across the various platforms. I make sure they are always seeing our content and sharing it. This helps get an early start. Then it is just putting in the work. Literally calling brokers, following up and not giving up.
- The way property is sold has changed through the years, one example is your company using virtual tours of a property, how important is this to selling a property?
Supply and demand is a fundamental law in sales. We are able to increase demand, by increasing the eyeballs on a property via virtual tours.
- There are more than 1.3 million active Realtors in the US, what makes a good real estate agent?
Grit. Like anything difficult in life, you will be tempted to stop. Do not do it! If you continue to try, continue to learn, you will make it over the challenge. Unfortunately, a large number of agents will never last more than 1 year and it is often because they quit before they find their success.
- You have trained thousands of real estate agents, have you ever come across agents that you felt were not suitable for the industry and should find another career?
I try not to make those assumptions about people. Because I have been very surprised. There are people that are extreme introverted that are crushing it because they didn’t give up. I have a philosophy to pour as much into people as possible and allow them to decide if they are going to succeed.
- You have moved your company from Keller Williams to eXp Realty, why was that?
This was not an easy move. I love Keller Williams as a company and am proud of the time there. We accomplished a lot! When I sat down with a mentor of mine and did an honest apples-to-apples comparison of my business, it made so much financial and long term sense that I had to jump on. I believe eXp is the model that all brokerages will try to emulate in the next 3-5 years.
- You say that eXp is the future of real estate, that is a big statement to make, can you explain why you feel that way?
It is cloud based. Meaning we do not have physical brokerages the way that other companies do. This is a huge overhead bill. Instead of spending millions of dollars on that infrastructure, eXp shares the revenue with their agents which incentivizes us to grow. Technology is the biggest disruptor to most industries and having a company that is build on technology puts us leap years ahead of those seeing that move now.
- The Covid-19 crisis has hit businesses hard, how has it affected the real estate world?
The answer is “nobody knows”. I have recently looked at some statistics for 30 days prior to COVID and the 30 days since our lockdown started and home prices are actually higher and homes are selling faster. It is wild. But the truth is, I do not think we will feel the full impact for another year or more.
- Are property owners selling their homes at a discounted price because of the COVID-19 crisis?
We haven’t seen that yet and I am not sure why because that seems the opposite of what you would think. It could be that our economy was so strong in the years leading up to it that there was more fuel in the tank to push us through the initial stages
- For people wishing to find a property as an investment, would you say now Is the right time to buy?
Today. Doesn’t matter the day they are reading this. Today is the day. The last 100 years have told us that property values increase. So if you expect it be lower in the future, you are making a big bet.
- Do you believe the real estate industry will recover?
Absolutely it will. And I actually think we will be better off with the impending recession then we were in 2008. Homes prices were rising at half the rate they were leading up to 2008, inventory was at an all time low, rates were at an all time low and home equity is near an all time high. Basically, our industry was very well insulated. There will be bumps and bruises along the way but we will be okay.
- Finding finance to purchase a property can sometimes very overwhelming and some finance companies make you jump over hoops to gain finance, how can your company simply the process?
Technology helps! I make sure that my team preps buyers the moment they speak about what needs to be done. The good housekeeping of record keeping, how to scan and store in the cloud and other tips that organize the lender’s need.
- Where would you say the current hot spot is for property investment?
There are a ton of them, including San Antonio! I like to look at the growth numbers. As a state or city grows, housing will be needed and investing there is a good plan. San Antonio, Austin, Dallas and Houston are all great for investments.
For information on The Harriman Group, please visit https://theharrimangroup.com/
For information on Jason Harriman can be found here: