Posts

How To Help Your Customers Money Go Further When They Invest In Real Estate

/in /by

StrategyDriven Entrepreneurship Article |Invest in Real estate|How To Help Your Customers Money Go Further When They Invest In Real EstateAs a real estate agency or freelancer, you will want to make your clients as happy and as satisfied as possible. To achieve satisfaction, you will want to help them put their money to good use and ensure that they can achieve a good return in the future. When it comes to helping your customers find the perfect home for them and ensuring that their money goes a long way, here are some tips.

Identify the trends and look at new news

Looking at the real estate marketing trends will help you identify where is hot and where is not to buy. The hottest places to live will likely offer your customer a high return rate, which will help them earn more profit when they sell.

For trend research, you could look at the work of people like Paul Ognibene to discover the best areas to invest in real estate to live a happier life.

Recommend older properties for flipping

If you customer has a lot of time on their hands and love flipping homes, then you should recommend investing in older properties that need upgrading. This will allow them to save money while having a fun project to work on.

So long as the location is good and it is in decent condition (so the customer doesn’t need to spend too much money doing it up) then they will attain more profit when they sell it in the future.

Let them know about short-term rentals

Some people might be saving to buy a home yet want to get a feel for the area. Some people move in and realize that the area isn’t for them, which could be a whole waste of time and money.

Letting your clients know about short-term rentals will result in them being able to save money until they reach their goal and also ensure that they like the location before they buy there.

Share information about buying land

For those that want to build their own house from scratch, you will want to share information about buying land as opposed to a house. If your customers dream is to build their own property from the ground up, then you should help them find a great plot of land that is well located. A good location will ensure that they get a good return when they sell it in the future. If the land is in the middle of nowhere then they might struggle to sell it for a good price in the future.

Finding an ideal location for your customers, which is also in a prime location, will help them live somewhere that will be great for selling in the future. If the location offers customers local amenities and is convenient, then its price will skyrocket as soon as it is built.

Using these tips you will be able to help your real estate customers money go further. Simply keeping an eye on the trends and offering information about prime locations will ensure that they buy properties (or land) in areas that will always guarantee to hold value.

Where to make your first steps into property investment

/in /by

StrategyDriven Entrepreneurship Article | Where to make your first steps into property investmentWhether it’s something you’re considering as a new career path or a way of making your savings grow further, property investment can be advantageous. With so many options, it can often be hard to decide where exactly to invest your money in first. Here’s a look at the different types of properties you could invest in, and the advantages and disadvantages of each.

General Real Estate

Most homes on the market are already lived in, and therefore ready to be sold on again as soon as possible. If you choose a house that is already decorated to a good standard, there’s very little you could do to increase its value. The obvious way to make money is to rent the property. To put it simply, the monthly price you’re renting the property, minus the cost of the mortgage repayments and any other expenses, is a nice profit in your pocket every month. This process isn’t without risk, though, and you’ll need to secure proper insurance if you go down this road.

Unless you are going to rent your property, it can be hard to make a profit on a general real estate property. You’d have to hold on to the property for several years and wait for an increase in the property’s value to even make the smallest of profits. Sometimes you can secure a good deal on a property if they want a quick sale, but you’ll have to work just as quickly to secure any extra money to close the deal. Hard money lenders such as Sachem Lending can offer you additional cash flow within days. They make their decisions based on the value of the property, so they won’t have to spend a long time reviewing your personal income and outgoings in detail. This means you could have the money in a matter of days, putting you in the strongest position to secure a deal.

Fix and Flip

This kind of property can offer a much higher return in a small amount of time, but it also involves the most amount of effort. The critical thing to realize when purchasing a property that needs a lot of work is just how much work it needs doing to it. Paying for someone to inspect the property might seem like an unnecessary extra expense. Still, it can be the most important investment you’ll make if they spot something which needs significant work and reduces the potential value of the property. If you’re buying a property that just needs a lick of paint and maybe a new kitchen or bathroom, you could have it back on the market in weeks with a much bigger price tag.

New Constructions

While starting a build from scratch might seem like the best way to be sure of investing in valuable property, several things could go wrong. Whether it’s how much property tax will be, how popular the area will be, the quality of the work completed, or even the taste of the potential market, there are a lot of uncertainties with this kind of property. The good news is this kind of property is often the most readily available so you could negotiate a good deal.

Property Investment 101: What Is a Real Estate Broker?

/in /by

Property Investment 101 What Is a Real Estate BrokerMany millionaires say one of the best ways to get rich is to invest in property.

That sounds like a solid plan and easy enough to pull off. But the actual process of buying a new property can be very technical and difficult to work through. Which is exactly why you may need a real estate broker.

Let’s take a deeper dive into what is a real estate broker and how they can help you.

What Is a Real Estate Broker?

There is some confusion among people new to the real estate industry regarding the titles “real estate agent” and “real estate broker”. They are, in fact, two different jobs.

A real estate agent is the bridge between the prospective property and the potential buyer. Agents often handle a lot of the research part of buying by matching listings to their client’s needs.

They work with the agents from the other side of the sale to find a deal that works for everyone. They then help their client through the closing process.

A real estate broker, on the other hand, takes their responsibilities one step further than an agent.

These individuals have completed more educational training than agents. In order to be given this title, they must pass another exam and be certified. This extra training includes deeper knowledge of real estate law and complicated transactions.

Real estate agents must work under a real estate broker. This is done to ensure that quality service is being given and standards are upheld.

A broker can work for themselves, work under another broker, or start their own brokerage. So they have a few more options than an agent or realtor.

What Does a Real Estate Broker Do?

The extra training that a real estate broker receives allows them to handle more during a property sale transaction.

A real estate broker can represent either side of a transaction (selling or buying) and each role comes with a few different responsibilities. Let’s take a deeper look into exactly what do real estate brokers do.

Seller Transactions

When a real estate broker is helping a client sell a property their main goal is to ensure that the desired price is obtained.

One of the first ways they do this is by helping their client get the property ready to sell. They won’t be doing the handy work, but instead, advise on things that could make the property more appealing.

Before someone can become a real estate broker they must be a real estate agent for at least three years. That time gives them a lot of experience in understanding what will help a sale and what won’t.

After the property is ready, they then list it on the MLS and other real estate sites. The broker will handle the advertising efforts needed.

When an offer is made on the property, the broker will handle the delivery. They will then advise on how to proceed (either countering the offer, accepting, or declining). Once an agreement has been made, the broker will help their client through the whole closing process.

A broker is especially helpful in the sale of a complicated property. They will know the best course of action to receive the best outcome.

Buyer Transactions

The responsibilities of a real estate broker who is working for the buyer-side of a transaction are fairly similar.
Instead of helping to list the property, they will use a list of client needs to search available listings and find one that fits. The broker will help facilitate any walk-throughs and viewings of the property.

Then they will help their client submit an offer, work through the negotiations, and eventually through closing on the property.

Other Roles

One of the main roles of a real estate broker is to help others perform their duties in the real estate industry.
A principal real estate broker is in charge of all of the real estate agents in their office. As we mentioned earlier, a real estate agent must work under a licensed broker in order to comply with the law.

This broker will oversee transactions and step in whenever they become complicated or difficult.

Principal brokers are often involved in real estate broker sponsorship as well. Any new real estate professional has to work with an approved, qualified person to activate their new license. This type of mentorship sets them up for success.

When to Hire a Real Estate Broker?

Most often during the sale or purchase of a property, the client won’t work directly with a real estate broker. They are more commonly involved with the big picture and overseeing all the agents in the firm.

It’s really beneficial to hire a real estate broker when you are working with a more complicated scenario, though. This might include a foreclosure, a short sale, or a multi-part property.

These sales have different requirements under the law and a real estate broker will have the training to understand these requirements.

Though not necessary, working with a real estate broker can bring greater peace of mind through your transaction. Their extended knowledge will give confidence that the transaction will be handled properly.

Find a Real Estate Broker

Real estate investment is often a very smart financial decision. This type of ownership can have real, lasting positive effects on your financial health.

But this type of investment is also intimidating, and sometimes, complicated. When these transactions are more than you can do on your own, hiring one of the more than 465,000 real estate professionals can make a big difference.

Now that we’ve answered, “what is a real estate broker” you can find the right one to work with. And they can find you the right property to invest in!

If you are interested in learning more about how to achieve maximum success in business, check out our other articles!