Going Green has a new meaning in the real estate industry. While others are improving the energy efficiency of their homes and commercial real estate properties, other green-goers are raking in from profits associated with the legalization of marijuana in several states. Whether it be from a much-improved economy or new marijuana farmers looking for grow houses and farmland, the numbers are up for real estate agents.
While the market begins to mature and governments continue to keep adopting laws and regulations that shine a favorable light in the direction of cannabis, we’ll begin to observe a revival of many businesses. Many opportunities will become available for commercial and residential real estate deals throughout these states.
When it comes to the commercial side of the real estate coin, a number of websites are popping up providing solutions to those aiming to target the medicinal marijuana enterprise. Agents are zoning-in on the possibility to locate real estate property with the appropriate zoning for marijuana cultivation as well as sales.
There is certainly a good amount of money to be made within this market and the real estate business will continue to reap the rewards. As reported by CNN.com, the housing market is going through the roof in states who’ve legalized the growth and sale of the herb. Many agents are already seeking out the details and beginning their plans to market this particular industry. Based on the preliminary reports, the majority of folks are looking forward to working with and around this new legalized product.
With the new hype and excitement, many buyers are looking for legal grow houses and dispensaries. Although some view purchasing a home near a dispensary negative, many others are enticed by the variety of opportunities that are ahead. Moreover, just like any farm, it’s safe to say that living near an area that either sells or grows marijuana will not hurt but actually improve the value of the property.
Way back in the late 1960’s, only 12% of Americans were found to be in favor of the legalization of marijuana. However, since then, a study was done and the numbers have leaped as much as 54%.
Since its legalization, it’s boosted the economy in states allowing the sale or use of the herb. As any good real estate agent knows, a better economy means an increase of sales and profit margins. The hope among experts is that the boom of growing, selling, and distributing marijuana legally will have a significant impact on the real estate industry. There may even come a time that homebuyers will be looking for land specifically for this very reason.
No matter if you’re approving of the legalization or completely against the idea, the fact that it could potentially bring about a stronger, thriving economy will benefit real estate transactions on both sides of the fence.
Based on Colorado’s Department of Revenue reports, the month of April showed sales totaling in excess of $22 million. Although all revenue is stated to be used on educational and social programs, marijuana is packing a well-invited punch to the boost of the local economy. Private companies are popping up everywhere and creating many more jobs for residents; paying it forward to the real estate industry.
Real estate agents in states where the drug is legalized, are specializing in targeting houses that are set up specifically for medical and recreational marijuana growers. Some agencies are seeing a 100% growth in just the last two years. Changing their niche, many Realtors have gone from a couple calls a week to over 10 a day since the changing of the law in these states.
Reflecting back to the hard times of the 2008-09 recession, many agents, the ones who are now targeting this market, say that before, they couldn’t offer a house for free. However, since 2013, everything has changed, and for the better. Properties sales are going through the roof. Although some are due to the ending of the recession, the majority stems from the birth of the marijuana industry.