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by Paul W. Cutler, eXp Realty for RINewsToday
There are numerous opportunities for people to jump on the real estate market.
Paul W. Cutler, Realtor at eXp Realty based in Northern Rhode Island, said the business community can create new ideas. He believes buildings can serve in new capacities.
“A lot of businesses are changing their models to enable employees to work from home. This is having a great impact on where people choose to live. Many individuals are choosing to move closer to family. There is a lot of migration from the cities to the suburbs putting pressure on the inventory for single family and multi-family homes in these areas. This has major implications on companies employing these individuals regarding where they want to operate their businesses and living accommodations for these employees. This means many of these office buildings are going through changes—being repurposed for other endeavors,” he said.
Landowners are worried about lost lease and rent money. The federal government allowed businesses to not make such payments while they were closed. However, with more businesses opening and people either changing jobs or working from home, that may translate into lost wages for the building or property owner. Since federal and state moratoriums on not paying off those commitments recently ended, payments will need to start rolling in or else the courts will be flooded with lawsuits, eviction notices and other legal remedies.
“There could be a slew of foreclosures resulting from the rush of owners wanting their money. They could be out tens of thousands of dollars. The government helped out where they could with grants and other programs, but that won’t solve the problems. This is a major concern for residential and commercial properties alike,” said Cutler.
One area for growth is in storage space. Residents need it to downsize their lives. Businesses need the space either for additional inventory and/or to store office supplies and equipment.
Cutler reiterated the high need for storage space and the land and building availability.
“Once companies start manufacturing more goods and services, more workers will be needed to keep up with the orders. With the supply chain breaking down and obtaining materials from overseas ports becoming more expensive and difficult to procure, the country must develop alternatives to maintain their productions and keep jobs intact. That said, while it makes for a ‘golden opportunity’ for growth, it can also cause frustration because the workforce is being more discriminate in deciding their career path,” he said.
As for 2022, although there are signs of a housing market slowdown, it still is a seller’s market. A few factors that could put pressure on the residential market include rising interest rates, more foreclosure properties being released by the banks, and the real estate crisis in China with Evergrande and its worldwide impact.
Cutler graduated from Nichols College with a BSBA in Marketing. After graduation, he spent five years working in sales and sales management with the E&J Gallo Winery and 23 years in sales and sales management working in Pharmaceutical/Biotec.
As for commercial clients, Cutler recently closed on several projects, including three liquor stores in Rhode Island, one Rhode Island assisted living facility, one Connecticut assisted living facility and a 19 Unit Condo Portfolio. Although Cutler and his Commercial Team are comfortable working in all aspects of commercial Real Estate, he specializes in Medical/Health Care and Liquor Stores. He looks to work with investors interested in selling or purchasing a liquor store or medical/healthcare facility, as those are two emerging markets.
Cutler’s seven years in real estate has prepared him well to assist anyone looking to join eXp Realty. Cutler has been formerly trained in Commercial Real Estate and has been training, developing and mentoring other Realtors for four years.
Cutler emphasized what makes eXp Realty unique is with the encouragement of eXp leadership and the willingness of agents throughout the organization willing to work together collectively and collaboratively to meet the real estate client’s needs. An example was the recent 19 Unit Condo Portfolio sale. Cutler was introduced to the Owner/Investor, who held the Condo Portfolio through a mutual friend, the owner’s accountant. The residential condo portfolio did not fit the owner’s other real estate holdings, which was primarily made up of Commercial Properties. Cutler reached out to a colleague within eXp specializing in commercial real estate and residential condo portfolio experience. Everyone worked collectively and collaboratively to sell this portfolio to an interested buyer.
“An important part of my everyday job as a Realtor, I believe, is it is vital for me to network with other Realtors when I find individuals who are like minded and willing to work collectively and collaboratively to make real estate transactions happen.”
Cutler said eXp Realty is currently hiring Realtors to help with the growing real estate customer needs. Since the pandemic, eXp Realty has doubled in size with the number of realtors, now currently at 65,000. eXp Realty is Operating throughout the United States including Puerto Rico, Canada, Mexico, many of the European countries. Two areas of consistent growth are its continued growth worldwide and its recent launch of their Commercial Division.
Although Cutler is personally licensed in Rhode Island, Massachusetts and Connecticut, he is well networked within the eXp Community to assist real estate investors nationally. One example of this is his affinity to Puerto Rico. Cutler’s mother has been a resident of Puerto Rico for the past 15 years. eXp Realty entered the Puerto Rico market in January of 2021.
As to why someone should consider working with him, Cutler explains, “Whether you’re in the research phase at the beginning of your real estate search or you know exactly what you’re looking for, you’ll benefit from having a real estate professional by your side. I’d be honored to put my real estate experience to work for you.”
For more information about the business, available properties, and other details, contact Paul W. Cutler at 508-725-0051 or firstname.lastname@example.org.