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Expert Tips When Buying A Property

Expert Tips When Buying A PropertyWhat’s your dream home? A beachfront villa that opens to fresh air and stunning ocean views? A spacious house in the quiet suburbs? Or a chic loft right in the center of a vibrant city? There’s no formula in finding the property that perfectly matches your lifestyle and aspirations-some people find their dream homes by chance or accident, while a lot more arrive at the right buy only after years of searching. Whatever route you may take, it’s important to be an informed buyer and crucial to get insider, expert help to ensure that you will find the right property at the right price and the right time.

So here goes some question; what kind of advertising will be done? What are the marketing strategies? Can a realtor effectively present and sell all the least-noticeable properties in the real estate market? Will the realtor be capable and willing to communicate with clients effectively? Real estate experts or professionals should also need to be knowledgeable about the community or the society they live in. They need to know about the history of the particular area and also the approximate value or the price the people from that locality willing to spend. Real estate agents should also need to know what the competition now in his state, and how much will he be able to perform and sell the properties profitably.

You need to know one important thing, never choose a real estate realtor by the price alone. Remember that a realtor is not a magician or a wizard to increase the selling price of the property all of a sudden! So it is better to consider the buyer. The purchaser which you make won’t be willingly to pay you too much; it’s very much likely that he or she needs to do a research on the real estate market and try to uncover the best and honest price for the properties. You need to know that, the facts simply just can not be changed! No matter which real estate investor or realtor you choose. In spite of these unalterable facts, the real estate realtor you choose must still be knowledgeable, hard-working, sincere and trustworthy.

In case your properties do not obtain or attract attention from the buyers even after several weeks or months, then the reason for this is most possible due to three reasons: It can be due to the location of your property. If you’re property is located in a deserted place, then you will have less opportunity to sell that house. Condition of your house or property is also essential, as damaged houses are little tricky to sell and finally the price value of the property plays the key role. You should always think about examining the conditioning of the property and evaluating the marketing strategies again and again. Do ask your realtor to provide an explanation of the pricing strategy and for the competition.

Before you start your property search, it’s helpful to take an honest, close look at yourself and assess your preferences. What do you want? What are the things that are important to you? If career growth is a priority, then you may choose to live close to a financial and commercial hub. If you want to raise your kids in a quiet, family-friendly neighborhood, then the real estate experts say, will be a wonderful place for you to live in. By framing your search based on your lifestyle, you could make your hunt more focused and systematic.

Once you have your ‘wish list’ with you, arm yourself with information to know more about candidate properties and vicinity. Your real estate agent can provide you accurate information about market values so you have an idea of the financing you may need. If you’re looking into properties in you ideal place, real estate statistics such as crime rate, proximity to schools, hospitals and public spaces, or venues for entertainment, leisure and recreation are likewise important in helping you achieve quality of life for you and your family.

Another important consideration is your financial capacity. Your real estate agent can provide you tools and services that will boost your buying power and borrowing capacity. For example, if you’ve finally found the perfect house in your desired location, real estate agents can provide you a full range of services to make sure that you have a chance of buying this one-of-a-kind property. From connecting you with qualified lending banks and mortgage companies, to negotiating on your behalf, your real estate manager can widen your financial options so that you have the opportunity to acquire the property that best serves your investment interest. Investing in real estate requires you to decide wisely and act fast. Work with the right real estate company and live in your dream home soon.

 

Tips For Preventing Property Investment Deals From Going Wrong

Most people consider buying property in the UK one of the most nerve-racking experiences anyone can have. With so many below market value property deals not seeing a positive end, property investment can be an extremely stressful business. While buying bmv properties entails its own risks, it also shares some hurdles that are similar to buying for oneself. Both equally challenging situations!

Nothing in this world is perfect and things sometimes simply go wrong. There will be problems over which you have no control. The vendor might simply change his mind or mortgage lenders might remove some products. In addition, gazumping and natural disasters that damage property can also occur.

There are some things, however, that you have control over. Importantly, communication and all its aspects – content, clarity and timing. Miscommunication can bring any deal to an abrupt end. Assumptions and expectations without proper communication and clarification can disrupt your deal. In the property investment business it is extremely important that you follow up your dealings with professionals in writing to prevent miscommunication and also to provide an audit trail in case issues arise later.

But what if things do not work out the way you want them to despite all your efforts? Would you lose your cool or would you react rationally? An argument based on emotion is far less credible than one based on facts. If property investment had been that easy, everyone would want be in business. If you cannot handle stress, property investment is not the right arena for you.

Things can, however, be easier for you if you:

  • Stay calm but be firm.
  • Use the 4 W’s – What-Why, What-When
  • Describing WHAT the problem is
  • Why it is an issue
  • What you would like in the situation
  • When would you like it to occur

If problems still persist and you just cannot achieve the desired results, STOP analyzing the situation again and again and playing the blame drama. Simply discuss what needs to be done and how it should be done.

It is important to handle and resolve an issue before it gets bigger. Deferring things for a day or two can be tempting or just a habit, but it can also cause great harm. So follow up regularly, but politely. Remember, your image will be determined by the kind of service others provide you.

Choose a Local Real Estate Agent

With the economic downfall that has just about killed the housing market a lot of sellers and buyers have quickly become cautious when it comes time to choosing a real estate agent for their own basic needs. Everywhere you look in the news there has been a lot of different controversies regarding the real estate agents and how they are breaking contracts and swindling buyers and sellers out of thousands of dollars. All of this has made the word of mouth even more vital than it had ever been. One of the best ways that you can be sure that you are getting the best deal on the property that you are either selling or buying is to go through a local real estate agent.

Therefore if you are looking for a new home that is located in a new neighborhood then you should really consider choosing a local real estate agent. The people that are located in the area will be able to tell you which realtor is the best. They will also be able to tell you about their overall professionalism and dependability. Word of mouth is a very valuable tool and when you take the time to listen you will be well on your way to gaining a great realtor for your own personal needs. Also the people in the area where you are looking will even be able to provide you with various listings to talk to these agents about that have not even had the chance to hit the market yet.

Most of the good local realtors in the area will have a good hold on the vibe of the current housing market and most generally will have prior knowledge of even some of the properties in the area that have not been added to the market. This will give you a huge boost because you will be able to be one of the first potential buyers for a house that you may particularly love. Also if the realtor is good they will have a good reputation in the area that you are currently looking in.

A local real estate agent will also have prior knowledge of all the necessary essentials that are in the particular area. This should include the crime rate, schools, hospitals, and whether the house you are currently looking at is located in a safe neighborhood or not. The local real estate agent that you choose should have a good knowledge of all these aspects and others. This will help you save time in your search and can also save you money overall.

As you can see choosing a local real estate agent just makes great sense as they can provide you with the best deals and they have the most knowledge.

Residential Real Estate Lawyer

Some states require lawyers to participate in residential real estate transactions, especially at closing or settlement. Notice how I said, “some states require…’” not simply that you need a real estate lawyer. The majority of states are known affectionately (by real estate lawyers) as, “non-attorney” states. In those states, conducting real estate closings is not considered the practice of law, so you are not required to have a real estate lawyer. The rest of the country resides in either, “attorney” states or states that have mandated the participation of real estate lawyers either for the entire closing or for some parts of the closing. (The parts where you need a real estate lawyer are usually defined by the clear as mud description, “those instances requiring the use of legal discretion and profound legal knowledge.”) Since choosing the right real estate lawyer can save you a lot of aggravation, you want someone who is:

Licensed and in good standing. Many states have web sites where you can look to see that the real estate lawyer you are considering is both licensed and in good standing.

Experienced. Word of mouth can be the best recommendation. If a friend or relative has been well served and satisfied with a real estate lawyer, chances are you will be also.

Real Estate Savvy. This is a specialized area. Just as every midwife might be capable of handling a simple birth, every lawyer might be capable of handling the so-called simple closing, (in California and other “non-attorney” states, people generally do not even use lawyers for residential transactions.) It would be nice, if at the beginning, you could know if yours will be one of those simple transactions. However, since most of us cannot see into the future, if you decide to hire a lawyer, you’ll want one well versed in real estate law and its peculiarities.

In your area. It is important that the real estate lawyer you hire be familiar with local rules and ordinances as they can have an enormous impact on how smoothly your deal flows.

That you can work with. There is no point in hiring someone you either do not like or do not trust. What good does it do you if you cannot rely on the information she gives you or, just as bad, you cannot stand talking to that person? A real estate transaction is not brain surgery; there are plenty of good real estate lawyers who also have pleasant personalities. You do not want to hire someone that does not play well with others. Your lawyer will be dealing not only with you, but with your buyer. You want someone who will help get the job done while protecting you.

How Can You Tell If Your State Is An “Attorney” State?

The easiest way is to log onto a website, such as [http://www.legalwiz.com/escrow.htm] which has a list. In addition to that, you can call your local bar association, your local title insurer, your local mortgage lender, or your local escrow agent. Using the word “local” is no accident. All real estate is local and all real estate laws are local in the sense of being governed by the state law of the state where the property is located.
If your house is located in an “attorney” state, adding a real estate lawyer to your team is both necessary and prudent. You’re going to have to have one anyway, so you might as well get her or him on the team early.

Do I Need A Real Estate Lawyer In A “Non-Attorney” State?

If the house you want to sell is in one of the majority “non-lawyer” states, you might need a real estate lawyer at some point if things get complicated, but there is no rush. In “non-attorney” states, closings usually take place through escrow. Although the escrow agent does not represent you, they are usually very knowledgeable and they are obligated to follow the directions you outlined when the escrow was set up.

If you do hire a real estate lawyer, she can be your second most valuable player. From advising you on such matters as the contract, disclosures, title, inspection issues, to holding the earnest money and handling the closing.

REMEMBER: Even in “attorney” states, real estate lawyers are not deal makers. Their job is to make sure the contract is properly executed. They may or may not be involved in the actual negotiations.

TIP: In some areas, real estate lawyers make a large chunk of their money from the title company they work with. As the seller, it will be your responsibility to bring down title. Therefore, working with an real estate lawyer who has a relationship with a title company, could be to your benefit.

To Close A Commercial Real Estate Loan

For nearly 30 years, I have represented borrowers and lenders in commercial real estate transactions. During this time it has become apparent that many Buyers do not have a clear understanding of what is required to document a commercial real estate loan. Unless the basics are understood, the likelihood of success in closing a commercial real estate transaction is greatly reduced.

Throughout the process of negotiating the sale contract, all parties must keep their eye on what the Buyer’s lender will reasonably require as a condition to financing the purchase. This may not be what the parties want to focus on, but if this aspect of the transaction is ignored, the deal may not close at all.

Sellers and their agents often express the attitude that the Buyer’s financing is the Buyer’s problem, not theirs. Perhaps, but facilitating Buyer’s financing should certainly be of interest to Sellers. How many sale transactions will close if the Buyer cannot get financing?

This is not to suggest that Sellers should intrude upon the relationship between the Buyer and its lender, or become actively involved in obtaining Buyer’s financing. It does mean, however, that the Seller should understand what information concerning the property the Buyer will need to produce to its lender to obtain financing, and that Seller should be prepared to fully cooperate with the Buyer in all reasonable respects to produce that information.

Basic Lending Criteria

Lenders actively involved in making loans secured by commercial real estate typically have the same or similar documentation requirements. Unless these requirements can be satisfied, the loan will not be funded. If the loan is not funded, the sale transaction will not likely close.

For Lenders, the object, always, is to establish two basic lending criteria:

1. The ability of the borrower to repay the loan; and

2. The ability of the lender to recover the full amount of the loan, including outstanding principal, accrued and unpaid interest, and all reasonable costs of collection, in the event the borrower fails to repay the loan.

In nearly every loan of every type, these two lending criteria form the basis of the lender’s willingness to make the loan. Virtually all documentation in the loan closing process points to satisfying these two criteria. There are other legal requirements and regulations requiring lender compliance, but these two basic lending criteria represent, for the lender, what the loan closing process seeks to establish. They are also a primary focus of bank regulators, such as the FDIC, in verifying that the lender is following safe and sound lending practices.

Few lenders engaged in commercial real estate lending are interested in making loans without collateral sufficient to assure repayment of the entire loan, including outstanding principal, accrued and unpaid interest, and all reasonable costs of collection, even where the borrower’s independent ability to repay is substantial. As we have seen time and again, changes in economic conditions, whether occurring from ordinary economic cycles, changes in technology, natural disasters, divorce, death, and even terrorist attack or war, can change the “ability” of a borrower to pay. Prudent lending practices require adequate security for any loan of substance.

Documenting The Loan

There is no magic to documenting a commercial real estate loan. There are issues to resolve and documents to draft, but all can be managed efficiently and effectively if all parties to the transaction recognize the legitimate needs of the lender and plan the transaction and the contract requirements with a view toward satisfying those needs within the framework of the sale transaction.

While the credit decision to issue a loan commitment focuses primarily on the ability of the borrower to repay the loan; the loan closing process focuses primarily on verification and documentation of the second stated criteria: confirmation that the collateral is sufficient to assure repayment of the loan, including all principal, accrued and unpaid interest, late fees, attorneys fees and other costs of collection, in the event the borrower fails to voluntarily repay the loan.

With this in mind, most commercial real estate lenders approach commercial real estate closings by viewing themselves as potential “back-up buyers”. They are always testing their collateral position against the possibility that the Buyer/Borrower will default, with the lender being forced to foreclose and become the owner of the property. Their documentation requirements are designed to place the lender, after foreclosure, in as good a position as they would require at closing if they were a sophisticated direct buyer of the property; with the expectation that the lender may need to sell the property to a future sophisticated buyer to recover repayment of their loan.

Top 10 Lender Deliveries

In documenting a commercial real estate loan, the parties must recognize that virtually all commercial real estate lenders will require, among other things, delivery of the following “property documents”:

1. Operating Statements for the past 3 years reflecting income and expenses of operations, including cost and timing of scheduled capital improvements;

2. Certified copies of all Leases;

3. A Certified Rent Roll as of the date of the Purchase Contract, and again as of a date within 2 or 3 days prior to closing;

4. Estoppel Certificates signed by each tenant (or, typically, tenants representing 90% of the leased GLA in the project) dated within 15 days prior to closing;

5. Subordination, Non-Disturbance and Attornment (“SNDA”) Agreements signed by each tenant;

6. An ALTA lender’s title insurance policy with required endorsements, including, among others, an ALTA 3.1 Zoning Endorsement (modified to include parking), ALTA Endorsement No. 4 (Contiguity Endorsement insuring the mortgaged property constitutes a single parcel with no gaps or gores), and an Access Endorsement (insuring that the mortgaged property has access to public streets and ways for vehicular and pedestrian traffic);

7. Copies of all documents of record which are to remain as encumbrances following closing, including all easements, restrictions, party wall agreements and other similar items;

8. A current Plat of Survey prepared in accordance with 2011 Minimum Standard Detail for ALTA/ACSM Land Title Surveys, certified to the lender, Buyer and the title insurer;

9. A satisfactory Environmental Site Assessment Report (Phase I Audit) and, if appropriate under the circumstances, a Phase 2 Audit, to demonstrate the property is not burdened with any recognized environmental defect; and

10. A Site Improvements Inspection Report to evaluate the structural integrity of improvements.

To be sure, there will be other requirements and deliveries the Buyer will be expected to satisfy as a condition to obtaining funding of the purchase money loan, but the items listed above are virtually universal. If the parties do not draft the purchase contract to accommodate timely delivery of these items to lender, the chances of closing the transaction are greatly reduced.

Planning for Closing Costs

The closing process for commercial real estate transactions can be expensive. In addition to drafting the Purchase Contract to accommodate the documentary requirements of the Buyer’s lender, the Buyer and his advisors need to consider and adequately plan for the high cost of bringing a commercial real estate transaction from contract to closing.

If competent Buyer’s counsel and competent lender’s counsel work together, each understanding what is required to be done to get the transaction closed, the cost of closing can be kept to a minimum, though it will undoubtedly remain substantial. It is not unusual for closing costs for a commercial real estate transaction with even typical closing issues to run thousands of dollars. Buyers must understand this and be prepared to accept it as a cost of doing business.

Sophisticated Buyers understand the costs involved in documenting and closing a commercial real estate transaction and factor them into the overall cost of the transaction, just as they do costs such as the agreed upon purchase price, real estate brokerage commissions, loan brokerage fees, loan commitment fees and the like.

Closing costs can constitute significant transaction expenses and must be factored into the Buyer’s business decision-making process in determining whether to proceed with a commercial real estate transaction. They are inescapable expenditures that add to Buyer’s cost of acquiring commercial real estate. They must be taken into account to determine the “true purchase price” to be paid by the Buyer to acquire any given project and to accurately calculate the anticipated yield on investment.

Some closing costs may be shifted to the Seller through custom or effective contract negotiation, but many will unavoidably fall on the Buyer. These can easily total tens of thousands of dollars in an even moderately sized commercial real estate transaction in the $1,000,000 to $5,000,000 price range.

Costs often overlooked, but ever present, include title insurance with required lender endorsements, an ALTA Survey, environmental audit(s), a Site Improvements Inspection Report and, somewhat surprisingly, Buyers attorney’s fees.

For reasons that escape me, inexperienced Buyers of commercial real estate, and even some experienced Buyers, nearly always underestimate attorneys fees required in any given transaction. This is not because they are unpredictable, since the combined fees a Buyer must pay to its own attorney and to the Lender’s attorney typically aggregate around 1% of the Purchase Price. Perhaps it stems from wishful thinking associated with the customarily low attorneys fees charged by attorneys handling residential real estate closings. In reality, the level of sophistication and the amount of specialized work required to fully investigate and document a transaction for a Buyer of commercial real estate makes comparisons with residential real estate transactions inappropriate. Sophisticated commercial real estate investors understand this. Less sophisticated commercial real estate buyers must learn how to properly budget this cost.

Conclusion

Concluding negotiations for the sale/purchase of a substantial commercial real estate project is a thrilling experience but, until the transaction closes, it is only ink on paper. To get to closing, the contract must anticipate the documentation the Buyer will be required to deliver to its lender to obtain purchase money financing. The Buyer must also be aware of the substantial costs to be incurred in preparing for closing so that Buyer may reasonably plan its cash requirements for closing. With a clear understanding of what is required, and advanced planning to satisfy those requirements, the likelihood of successfully closing will be greatly enhanced.

Things To Fix If You Will Rent Houses

If you are thinking of a safe way to do your business why not don’t you consider rent houses for a change? Maybe you have invested in other endeavors already like grocery store, canteen and drug store but you realized that they take most of your time and money. If you like to earn while you are spending your holidays in a Caribbean cruise read the following tips that will enable you to make a great profit out of this kind of business.

• Provide basic home necessities for your tenants. If you like your house to attract tenants then you must check what you have inside your premises. Check if the basic necessities shall suffice to give good accommodation to your tenants. Do you have a good water supply? If you have problems with this you must check the supplier in your area so that you will not face the tenants’ complain every day when they have to go to the bathroom.

• Is your power supply stable? If not you must make some measures in order to solve this problem. Electricity is indispensable to all homes especially if the family depends on it to cook their meals. You must also make sure that the kitchen is good enough for the family to prepare their dinner. The ventilation must also be taken into consideration since this is really vital in any dwelling. There are times that a certain house has all the best rooms, kitchen and comfort room but the ventilation is not good. No matter how nice your house may appear you will not even desire to inhabit it if you can’t breathe fresh air in there.

• Check the major interests of your tenants. Before you permit your tenants to stay in your house you usually conduct a character investigation. If you will take into consideration the interest of the persons who will rent your place they will be more comfortable in your area. If they love basketball then you must have a small basketball court also on top of the building or if you have an adequate space you can place it on your yards. If there are kids in your house then you must have a play ground for them. Aside form the fact that there will be more tenants in your house they will also feel that you care for their welfare and that you are not just concerned of the income.

• Do minor repairs. If you are going to rent houses be sure that they are free from small damages. This means that a roof that trickles with drops of rain must be fixed and the drainage that is clogged should be repaired as well. If you will not take care of these small issues you will be receiving complaints from the tenants thereafter.

Be considerate to your tenants but make sure that you also establish your business with good tenancy regulations. The business of rent houses really pay well if you know how to manage them.

Real Estate Investment Tips

Whether you’ve just completed a real estate investment course or you have just reached a milestone and need some pointers, these real estate investment tips will help jump start your real estate career or get you back on the right track to success.

Tip #1: Joint a Real Estate Investment Club
First, consider joining a real estate investment club. These organizations will help you keep your thoughts in perspective and prove to your subconscious that you can do anything you set your mind to.

If you can’t find a real estate investment club, form a mastermind group that meets once a week. Mastermind groups can be extremely successful in helping increase your awareness with the power of multiple people meeting in a sociable environment. These groups have a common goal of helping participants attain their goals and dreams without any ulterior motives. Don’t wait until you have a problem; associate yourself with a group of people–“a team”–who has the same goals of success.

Tip #2: Build a Team
There are a few important people who will undoubtedly play a big part in your real estate investment career: your attorney, your real estate investing mentor, your accountant, and reliable contractors.

When choosing an attorney, it is suggested that you don’t choose one who invests in real estate for himself to avoid any conflict of interest. You want one who strictly provides services for others.

A real estate investing mentor will be on your team to provide advice when you hit bumps in the road.

Your accountant will handle your money, so it is extremely important that you choose one who is confident and knowledgeable about real estate investment laws, tax rules and regulations.

You should also have trustworthy and reliable contractors that you can call on when you flip homes. Several contractors who can do renovations, landscaping, electrical work, etc. should be at your disposal. Develop a relationship with credible contractors who you can trust and who are knowledgeable in remodeling and cutting corners without cutting quality.

Tip #3: Learn How to Deal with Sellers
In a perfect world, every deal would go off without a hitch, but we know that our world isn’t perfect and there will be times when you will have to deal with unmotivated sellers. This can be like pulling teeth, because even when people are under the gun and they know the outcome, they can still be resistant.

The easiest thing would be to walk away, but you have to recognize when to add a little pressure and when to throw in the towel. This skill will come in time, and after a few deals you will learn how to read a person within a few minutes.

Tip #4: Make a Strategic Plan
Wandering around aimlessly looking for deals will cost you time and money. Have a plan and stick to it. Plan on making “X” number of calls per day, handing out “X” number of business cards per day, or doing online searches “X” number of times per week. Create a budget for your promotions and advertising. In time, you will start to gain exposure, and when you get a little experience under your belt, people might even start calling you.

People are sucked into investing in real estate because of the perception that it’s fast, easy money. Don’t hold your breath, because an overnight success can take two to five years. The truth of the matter is that 80% of people who attend a seminar or two quit the business after three months. Real estate investing is not a business that you can jump into today and tomorrow you’re sitting on a bundle of cash. It takes knowledge, persistence and a positive mindset to become successful and stay successful.

Find a Real Estate Agent

It’s not hard to find a real estate agent when you need to sell your house or you are in the market to purchase a home. Finding the best agent is an entirely different thing and is usually difficult to do. Allow us to explain how to find a real estate agent through the use of firms that specialize in just that… referring agents.

As the old saying goes “it takes one to know one” and finding the best agent is easily accomplished when you simply have a good agent do it for you. It’s a free service to you and holds enormous value. When you are selling property you want the best service for that expensive commission you pay and having professionals picking the professionals saves a lot of time searching and interviewing. A good real estate firm that offers to refer you a choice of agents to choose from, even when they are not of the same firm, means you are getting to cherry pick the cherry picked.

Since a referral agency receives payment as a small percentage of the referred agent’s commission fee received at the closing, the service is of no cost to you as a seller, buyer, tenant or landlord. When you are a buyer the referral service and the representation by the referred agent is typically of no cost to you, the referral agent is paid a percentage of what the listing agent receives from the seller when the transaction closes. Taking advantage of an agent referral firm is how to find a real estate agent and the simplest way to go to get the best representation for your dollar. The referring firm wants you in the best hands possible, those that are most capable of bringing you a hassle free, smooth transaction, which starts with a good agent. Also look for one that screens potential agents by their current availability because sometimes a great agent can turn bad when they never have time to work on your transaction.

Buying, selling or leasing real estate should always be done with the oversight of a qualified, carefully selected agent, closed by a neutral third-party attorney and reviewed by a trusted accountant, if you are transacting commercial or investment property. When you are planning the purchase, sale or leasing of real estate make sure to contact a real estate firm that offers to refer you the best agent for your needs and location, not just he one available at the time in their firm.

Find A Real Estate Agent To Assist You In Buying Or Selling Your Home

When you decide to buy or sell a property, it is time to find a real estate agent. While the Internet is useful to find several legitimate ones, it does take quite a bit of research to find the right one for you. This can save quite a bit of money and time. Finding prescreened real estate agents is better, since you will have a good idea about whether they are capable of dealing with your property and communicating effectively in the process. Good real estate agents need to know the selling cycle thoroughly and should be able to market the property so that both buyer and seller are satisfied.

To find a United States real estate agent, you need to know that they are licensed by the individual states where they operate their business. Real estate agents are also knowledgeable about the community and local laws, along with information about the prevailing market rates. They also keep tabs on the competition.

Since buying or selling a property is a momentous event, it is best to find a real estate agent to help you with the process since it is their job to guide you. If you are buying a property, they can help with finding one that suits your budget and needs. They can advise about financing. Most crucially, they are professionals at negotiating the right price.

Typically, real estate agents contract their services to a real estate broker, earning a commission in the process. Brokers usually deal with real estate owned by others, assisting them in renting or selling the properties for a retainer. They also help with getting financing at times. You must find real estate agents who can keep track of all that needs to be done, e.g. inspections, repairs, environmental problems etc.

When you find a prescreened real estate agent, keep in mind that it should not be based on price alone. NEVER choose a realtor on price alone. One of the best places to find your real estate agent is to check the yellow pages in your area and the Internet. Google can efficiently bring in many results in the area you are considering. Many websites print reports related to real estate in that area along with profiles of good real estate agents. You can contact them and interview them regarding their experience, their knowledge of the market, their commission, their accessibility, etc. This action plan will help you find the real estate agent that suits you best.

Craigslist Classifieds’ Real Estate Service Section

Houses, apartments and office premises can be either bought or leased for a specific period of time with the help of Craigslist’s real estate section. Read on to know what you can find under this section.

1. Realtors or Real Estate Service Agents

The services of an agent, especially in real estate business, is sensible, since these people are professionally trained to give you sound advice on getting the best deal while buying, or selling, or renting a place. These people have good connections and experience that can prove to be indispensable in your real estate transactions.

2. Property Sale Assistance

A professional realtor can be expensive, which is why many people seek assistance from other individuals and companies while planning to sell their home. Buyers who wish to see your house can find it difficult to perceive the advantages of your house, especially while you are still living there. Property Sale Assistants help in setting your house up to attract any potential buyers.

3. House Repair

Home repair services such as landscaping, roofing, plumbing, and general contract work can be really useful when you wish to make some changes around your house. Advertisements and posts from such people can be found under Home repair services of real estate section on Craigslist.

4. Foreclosures and Loan Modifications

Many people post listings on Craigslist asserting their worth in bypassing the foreclosure procedure. However, not all of these claims are genuine, since many scammers sneak their profiles into such sections. It is always prudent to make financial deals and get loans with well known local services.

Searching for the ideal realtor service can be a daunting task, even on an online classifieds like Craigs list.

Professionalize a Real Estate Services Firm

Today’s property market scenario is not amenable to companies that do not present a professional front. Clients today are far more aware than ever before, and have become very aware of the difference between specialists and amateurs. Keeping this in mind, it is important to know what makes a real estate services firm truly professional in this new environment.

The inherent nature of the real estate business makes it very different from other business lines. Since it is difficult for the average person to successfully make the transition into the real estate business, a significant challenge for a professional property services firm is sourcing and training the right professionals.

Another challenge is developing a business plan or strategy that factors in the needs of the market. In today’s scenario, it is surprising that there is still so much emphasis on brokerage, when in fact the required services bouquet is much larger than that.

A truly professional real estate company needs to chart all aspects of the real estate market and have an entire array of service offerings. Considering the needs of the market today, the most successful real estate service firms offer every conceivable service – including research, consultancy, transactions, project and development services, integrated facility management, property management, capital markets, residential, hotels and retail advisory.

Nor is just offering such services sufficient – because of the high competitiveness prevalent today, the company should have operatives that have considerable expertise and experience in each segment. I don’t know how many of you will see it my way, but I have always believed that the most successful businesspeople surround themselves with people that are smarter than themselves.

This is very true in real estate, where it takes large teams of very talented people to find opportunities, zero in on them, groom clients and finally close transactions. If you don’t have the right people in sufficient numbers and rely solely on a small core group of experts, your business will crumble.

In India, the value a property services company adds to the overall market depends entirely on its local expertise, experience in matching Indian property to global requirements, its bouquet of services, the differentiators it introduces into these and whether or not it adheres to international best practices in property business.

A professional realty firm has clear, concise, measurable and achievable goals. It knows its market, the dynamics that drive it and the people who run and patronize it. Its business verticals are clearly defined and impeccably staffed, with sufficiently autonomous departments that are nevertheless centrally controlled.

Being a Jack of all trades and master of none only works well for smaller outfits that focus on making quick deals. A truly professional firm concerns itself with building a reputable brand that wields authority, respect and trust on the market.

When we talk of professionalizing a property-related services firm, we must obviously touch on the true definition of ‘professionalism’. Professionalism in any business line is primarily defined by two aspects – transparency and ethics.

India’s real estate market is largely fragmented, and it is impossible to organize it all. By adherence to international best practices this business, a property firm can attract and retain corporate clients by offering the vital aspect of transparency in all its dealings and processes.

Likewise, high ethical standards are indispensable to a professional real estate firm. To illustrate the challenges we face on this front, I would like to quote from the Management Guide For Real Estate Associations, which is a publication of the International Real Property Foundation – “Ethical perceptions and international business are highly influenced by cultural differences. Because of cultural and ethical relativism, real estate business that is conducted across national boundaries may discover ethical conflicts. Major ethical issues that complicate international business activities include sexual and racial discrimination, price discrimination, bribery, harmful products, and telecommunications – specifically, enforcement of country-specific laws, copyrights, and questionable financial activities.”

To put it in a nutshell – in a professional real estate firm, things not only look right, they ARE right… and vice versa. Nothing less will do if a firm wants to set itself above and apart from others on the Indian real estate market.

It is evident that adhering to such parameters is not as easy as reading about them. In real estate, it is always tempting to find the shortest route to profits. This is a path that usually involves compromises. One tends to cut corners on hiring the best people, following professional ethics, keeping clients happy and staying current on the latest trends.

Firms who choose to take this path will not make it far, and will never transcend the amateur level. It is firms who choose the harder, thornier path of never being satisfied with mediocrity and always striving for excellence in all aspects of their business dealings who are the true professionals.