Buying a property is a cumbersome process involving multiple steps. You need professional help to make it easy. In order to achieve success in this objective, you have to find a certified property agent who makes the entire process smooth, without any glitches or delays. As this profession has no screening method to allow entry to upright brokers only, any person can become a broker. Therefore, it is a challenge to get the right agent. Certain measures are important in this regard – to be safe rather than regret later.

What you can do is to select the area in which you plan to buy a property and then ask local contacts to recommend a broker without any sullied record. The initial filter works well as you are likely to get some recommendations. The next step involves seeking verified brokers. Some progressive states in different locations require property agents to register themselves with the government. Only those verified can operate legally. Now with strict regulations in the real estate sector coming into force, you can look for a property portal that allows only certified agents to operate. Sign up with a verified agent for your real estate needs and stay away from shady operators.

Services

Is the agent right if he just fixes the deal, takes his commission and goes his way? Absolutely not. You are not looking for an agent who is a professional only in money matters. Your search for the right agent is over when you find an agent who is willing to perform all his duties as a professional and give you complete peace of mind. The real estate agent must prepare a shortlist of suitable properties and show you the ones matching your specifications. Once you have chosen a property, the stage of price negotiation between the buyer and the seller should be handled carefully as many good deals fall apart because of lack of patience and extra effort which the agent is required to put in.

The agent should do homework about the property records. He should introduce you to a good lawyer who authenticates the documents. As you are busy with your work, you do not get time to visit the registrar offices for searching records, to establish whether the seller is the actual owner or there are other undisclosed co-owners. Preparing the schedule of payment and agreement papers is also the job of the agent. He should structure the deal in such a way that the client is not cheated. That is why it is said that finding the right agent is a tough task. But it is not impossible. You need to plan it carefully and conduct initial checks. If you do not remain wise in selecting the agent, you are likely to encounter serious problems later.

Unscrupulous Agents

As there are many shady dealers operating in the market, you run the risk of being cheated in several ways. He could make you buy a disputed property or a one enmeshed in litigation despite knowing the reality. Also, he could make you invest in a project likely to be delayed or buy from a developer who lacks the financial capacity to complete the project. An agent should not charge you more than the fixed commission.

A buyer should be aware of certain aspects of the property market and familiar with the tricks of agents. To get more relief, he should find out if there is an online portal where only certified agents are allowed to operate. Then, at least he knows right from the beginning that he is looking at the genuine players and he is going to select a top-rated agent with good reviews on the portal.

If you looking to purchase a product which is offered by different companies, how would you decide who to purchase it from? If you are like most of us, you would simply pick up your smartphone and read online reviews about each company and make your decision on those reviews. Well, the same goes for anybody who is possibly going to use your real estate services.

With the internet and technology making it easy and quick to access information about anybody, your potential clients will search for reviews on you. The reviews and testimonials they find online could be the difference between getting new clients, or losing them to someone else.

Get a Testimonial From Your Client After Every Closing

It is important that you obtain a testimonial after every closing if your clients are happy with your real estate services. Typically, the time of closing is a happy time for the client, and therefore, a perfect time to ask for a testimonial. It is always harder to obtain that testimonial at a later time down the road.

Tell your clients that it could be short and just be a few sentences. Many don’t like writing long reviews and may not give you one because of that. A short testimonial that’s to the point is just as effective.

Take a Picture With Your Client In Front of the Property

Along with asking for a testimonial at the time of closing, you should definitely take a picture with your clients. It is always preferred to take a picture at the property. An effective picture is to take a picture in front of the property while your clients hold the SOLD sign or the keys. The picture can be taken when you meet your client at the property to deliver the keys.

Displaying Your Testimonials on Your Real Estate Website

The most important place to display your reviews and testimonials is on your very own real estate agent website. Your real estate agent website is typically ranked higher in search engine results than your Facebook page and profile pages on Zillow, Trulia, realtor.com, and other large real estate marketplace websites. Therefore, you’ll definitely want to display your testimonials on your agent website.

You should have testimonials clearly visible on your homepage along with a separate page that displays all of your testimonials. Your real estate agent website platform should contain an interface that allows you to enter reviews and testimonials along with pictures of your clients.

Post to Facebook

If someone is looking online for reviews about you, they’ll most likely land on your Facebook page. Therefore, it is very important to create a “Just Sold” post after every closing. The post should contain the testimonial by your client AND the picture you took with them in front of the property. Be consistent and do this for every time you close on a property.

Ask Clients to Submit a Review on Zillow, Trulia, and realtor.com

Anybody looking for online reviews about you will also most likely end up on Zillow, Trulia, and realtor.com. All of these sites accept reviews and it is important that you build up the number of reviews and your rating on these large marketplace real estate websites.

The review is submitted by your clients from your profile page on each of these sites. A client can submit a review by clicking on the “Submit Review” button that appears on your profile page. To make it easier for your clients, send an email with links to your profile page for Zillow, Trulia, and realtor.com.

Real Estate is anything related to the construction and development of land and buildings either commercial or residential. This seems to be a very simple concept, but there are many legal disciplines included. Real Estate Law governs who may use an own the land or buildings.

Some terms to note in the Real Estate Law:

• The title is the official legal term which describes the owner of the property

• The mortgage is lending money at interest in exchange of title on the debtor’s property. After the successful completion of the debt payment, the conveyance of the title becomes void.

• Foreclosure is the term used if the lender takes control of the house or any property used for mortgage if the debtor fails to pay back the amount

• The official meeting for transferring the ownership of the land or property is termed as closing

• Escrow is the term used for money or property withheld with the third party for safekeeping

• Real Estate Agent is the person licensed for negotiating and conducting real estate transactions

The much awaited regulation in the realty sector has been announced by the Government of India last year, which is the introduction of the RERA Act (Real Estate Regulatory Act). Under the act the home builders have to deposit about 70% of the amount in the Escrow account. This will ensure the buyers that the amount is not diverted to some other projects.

Benefits of the RERA Act:

• As mentioned earlier, the builder will divert 70% of the amount taken from the buyers to Escrow account and this will ensure the buyers that their amount is only being used for this project and safe as well without being transferred to other projects.

• With the introduction of this new act the buyers doesn’t have to pay for the area over the carpet area. It is one of the important things to remember.

• All the clearances both from the buyer and the builder should need to be made before selling. The builder needs to disclose the information regarding the apartment.

The builders are allowed to sell the property only after getting proper clearances

RERA, is the central law, but as Real Estate is subjected to state, the state governments have a major role in implementing this act. However the various other related practice area to the Real Estate law include Tax Law, Landlord Tenant Law, Accidents and Injuries, Estate Planning, Insurance Law.

Creative Financing

When a Commercial Real Estate Investor is looking to purchase income producing property utilizing any number of creative financing methods, one of the most important keys to their success is that their ability to provide adequate, verifiable proof of funds – P.O.F.- to both the seller and the lender. The verification of funds can enhance the investors credibility with the seller as well as satisfy the lenders requirement to know that the borrower has necessary funds to complete their transaction.

Proof of Funds

There are a few ways acceptable to lenders and sellers to show P.O.F. to close your Commercial Real Estate transaction:

• Bank Statements or Bank Verification
• Brokerage Account Statements or Verification
• Escrow Account Verification

“Bank Verification” This is the most acceptable and widely used method to confirm the investors can complete the proposed deal. As such money must be put into a bank account and confirmed by statements or letter from the banker.  This is a “hard” (versus soft) method of verification, because money are deposited in an account in the buyers name to serve as proof the buyer can complete the transaction.

“Brokerage Account Verification” Similar to bank accounts, brokerage accounts show acceptable means to complete a purchase transaction. Likewise, statements or letter from the brokerage house representative will meet the requirement to prove adequate financial strength. This is also a “hard”  method.

“Escrow Account Verification” This is the one method that can be hard or soft evidence of necessary assets as the escrow agent simply needs to write a letter of confirmation attesting that the borrower has finances available to complete the transaction. It becomes hard when money is transferred  into an escrow waiting for the closing.

Companies

Finally, there are companies whose sole purpose is to provide evidence of the financial ability of Commercial Real Estate Investors to complete their transactions. Many of them provide “Proof of Funds” and Transactional Financing. P.O.F. is necessary at the beginning of the deal and Transactional Financing is for the day of closing only. Both of these methods are a necessary part of an investors arsenal when utilizing creative financing.

Real estate means the property consisting of land or buildings which also includes the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals, simply speaking any improvements on it. Tenants and leaseholders may have the right to occupy or make use of anything that is within the dominion of the rented area depending on the terms and conditions set by the landlords.

However when we hear the words “real estate”, we often refer it to the “real estate market” from the perspective of residential living. This is grouped into three categories based on its use. It’s either be residential which is used for living purposes, commercial as used in commerce and industrial which is used in manufacture or production of goods. Residential are those undeveloped land, houses, condominiums and townhomes. Commercial are office buildings, warehouses and retails store buildings and examples of industrial are factories, mines and farms.

Those who are buying a home often need to borrow money in the form of mortgage because prices are generally well above their savings. They can either avail of fixed-rate or variable-rate.

Commercial leases are mostly longer that residential and lenders may ask for higher down payment on a mortgage for commercial than home loan since generally residential real estate is usually less expensive so it is more affordable for small investor

Generally, this is affected by the primary condition to where the property is located. Profits or losses come through revenue from rent and appreciation of the estate’s value. There is also risk of tenant turnover especially if the business model is in bad condition, product is unattractive, or poor management and many more. So landlords, lessees has to make sure all is well set before lending the area/place.

Real estate can help you earn more especially if you are in hand with generating leads and setting well the properties in case you are into selling or offering rentals. You have to make sure you will be working more of what you invested. Usually property appraisals are of good and or high value, you just need to work on it. You must always and consistently putting your client’s best interests first. With that, your personal needs will be realized beyond your greatest expectations. Investing in this even on small scale, was tried and tested as true means of building an individual’s cash flow.

The majority of people don’t even look at learning how to put money into this business until later in life when they have a thriving career and a good deal of additional income at their disposal. You are able to begin investing while having the budget to raise the value of the investment property at a better return on investment. You might believe that the only point to put money into this business is to turn into a landlord or flip houses, or at least I did. With careful planning and a good investing strategy, it can create consistent income and give capital appreciation over the long run. If you’ve looked at it as a possible means to diversify your portfolio lately, you most likely have a range of reasons to avoid. it is quite a lucrative asset classes and ought to be a part of every well-diversified investment portfolio. Crowd funded real estate is quite similar to other campaigns in the meaning that individuals can contribute a few dollars to assist a person reach a financial aim.

If you wish to learn to put money into this business, you have to do plenty of research. Actually, you can believe that you are not too young to even consider investing in this business while in your college years. it isn’t just about getting and profiting from existing companies. this is simply one part of that. this is reportedly one of some greatest investments that a person can make. Wholesaling is a way to become involved in markets without obtaining a property.

There’s one sort of investing you won’t find much info about from the standard sources. Before you begin investing in this business, it is going to help to know the strategies that will decrease your risk and boost return. When you purchase it directly, limited capital invariably also limits the quantity of properties you are able to purchase in addition to location. It is possible to put money into it practically anywhere on the planet. it is just one of the oldest types of investing known to man. Whether you’re thinking of buying personal or commercial property, you will have to have a firm comprehensive knowledge of the mortgage process so it’s possible to find the most suitable deal for you.

You might need to hold onto the actual estate for a couple of years to be able to build up enough equity. If you would like to put money into real estate, bad credit may be a stumbling block, but it doesn’t need to derail the entire train. Because lots of people consider investing in it a huge risk, you might find purchasing a property somewhat scary, but you must have no worries. it is really a team sport. When approached correctly, it may be lucrative and trustworthy approach to create significant income.

The ideologies of the buyers in the real estate industry have been drastically changed over the years. All they need is eco-friendly or environmental properties with required facilities. Some of the environment friendly features are:

Use of renewable energy sources

The current trend in the market is demand for eco-friendly properties. Use of solar energy in water heating appliances, air conditioners and inverters can attract many buyers. This kind of energy sources can reduce their E-bills.

Rainwater collectors

Rainwater harvesting is effective way of storing rainwater for domestic usage. By using this method in our home, a large scale of water scarcity can be reduced.

Use of wooden furniture’s

Consumers are considering organic materials like wood and bamboo to be used in interior furniture. Plywood made from wood chips and window treatment, which include bamboo shades are some of the organic designs evolving in the green properties. Wooden furniture can add warmth, richness, comfort and finesse to the household area.

Natural landscaping

It is one of the important factors for the green real estate property. Properties, which have native plants and trees growing in and around the surroundings, have much demand among the consumers. A property, which has artificial grass lawns, requires lot of water to be supplied whereas native plants and trees require only seasonal rainfall to grow. Plenty of water can be saved by having natural growing trees and plants.

Eco-friendly interior insulations

Interior insulation in home is necessary as it affects the room temperature. Use of eco-friendly insulations with wooden chips, cotton, small broken pieces of stones and rocks, newspapers, cellulose insulation can reduce the noise and green house gas emission. Natural insulations have a low embodied energy and are fully disposable/recyclable at the end of their life.

Due to the increased demand in green real estate, many firms have started to promote their properties as eco-friendly homes. Buyers are showing more interest in having energy efficient products and systems in properties. Many financial institutions and private sector firms are investing huge money in green real estate predicting its demand in the future. According to government policies, investors who are investing in this sector pay fewer taxes compared to commercial sector investing. Green building construction has become increasingly popular and construction of such buildings has been a great challenge in long run. A green building is setting up new avenues in sector and increases the talent among the architects, environmentalists and suppliers.

In many areas of the country, those seeking to, either purchase a house, or sell their home, have a wide selection of real estate agents, to choose from. Either fortunately, or not, there is no such thing, as, the perfect agent, for all, or a, one – size – fits – all, approach. Rather, every potential buyer, as well as homeowner, should diligently, examine the possibilities, as well as his personal needs, priorities, goals, etc, and interview potential agents, in order to select and choose, the one, who’s best for you! Since, for most people, their house, represents their single – biggest, financial asset, doesn’t it make sense, to do everything possible, to identify, and select, the right AGENT, for you? With that in mind, this article will attempt to briefly, consider, identify, discuss, and review, using the mnemonic approach, some of these necessities.

1. Attitude; aptitude; articulate; attention: Begin by speaking to, and interviewing, potential agents, and prioritize, the attitude of these individuals! When a positive, can – do, attitude, is combined with a well – developed, relevant, up – to – date, skill – set, and aptitude, and an individual, is able to articulate, in a compelling, motivating, inspiring manner, and maintains his attention, and focus on his clients, you are honing – in, on the best choice, for you!

2. Goals; generate goodwill: Agents must be able to get along, well, with both, their clients, as well as the agents and customers/ clients of other agents, etc. When one shares your goals, and consistently, generates goodwill, you will be better served, and represented!

3. Empathy; energy; excellence; endurance: You need representation by someone, with the utmost degree of genuine empathy, which can only be achieved, when an agent, effectively listens, to your needs and priorities. This enhances his positive energy, and the potential for quality and excellence! However, since there are often, so many variables, and obstacles, from start to finish, examine and select someone, with meaningful endurance, to persist, and prevail!

4. Needs; nuances; neighborhood: Will the specific individual focus on you, and your specific needs, using the set of nuances, needed, to get the desired results? Be certain, your agent possesses local knowledge, and knows, much about your specific neighborhood, etc!

5. Timely; trends: Marketing real estate has evolved, from the days of simply listing a house, and advertising, in the newspaper, etc. Seek an agent, who is aware and prepared for current trends, and will avoid procrastinating, understanding making a deal, often requires timely action!

Buyers and sellers are best served, when they choose, the best AGENT, for them, and their specific needs, and situation! An educated customer/ client, achieves the finest possibilities!

Consider the option of going ahead with a real estate agent because he helps the buyer or the seller of the property in more ways than one. Key responsibilities of a good agent make the entire process smooth, transparent, and easy for clients. However, this proposition is fraught with risk because finding a good agent is often a momentous task. This should not discourage home buyers and property sellers from hiring a good real estate agent as he alone can make things hassle-free for you. Therefore, your focus should be to look for an agent instead of searching for properties listed on various sites. Once you have roped in a verified and accredited agent to work on your behalf, the process of buying or renting or selling a home becomes much easier for you.

Local market knowledge

Equipped with local real estate market knowledge, he provides information of relevant properties available in the area. He studies the options that suit your budget and forwards the shortlisted options to you. This saves your valuable time and money. If you are interested, he shows you the properties. He is familiar with the area you would like to live in and offers accurate information about local infrastructure, school systems, water and sewer charges, public transportation and other concerns that impact your decision to rent or buy a home.

Negotiation

He takes care of the tedious process of negotiating the best deal for you. With skill and expertise, he knows the trends prevailing within the local property market and the competitive prices for various properties. You can bank on him to ensure the best deal and save your hard-money. His commission is also negotiable in most of the cases, depending on the level of involvement and effort put in.

Representation

He acts as your representative throughout the entire buying or selling process and therefore you need a reliable person you can fully trust in matters of right price and the suitable property features you need. He follows your instructions, works tirelessly to minimise your daily involvement in the matter of sale or purchase and seeks your presence only when it is unavoidable – to screen the best options for closing the deal.

Legal assistance

His knowledge about local laws related to the buying and selling of property helps you avoid legal issues. It ensures a smooth deal without any potential conflicts. A legally binding contract is drawn up and he helps you with all the paperwork, referring you to the appropriate professionals for dealing with all the legal matters.

Network

As his up to date with current trends, he nurtures contacts and the professional network to flourish his business. This enables him to be aware of a wide range of available property in the area and suggest options to clients with the help of fellow professionals. Not having an intermediary will deprive you of this big advantage. There is a limit to searching properties online or seeking references through your contacts, but if you have an agent, then there is no limit to the options he can suggest with ease. Most of his suggestions come pretty close to what you look for.

Exposure

Having him on board ensures maximum exposure for your property. Years of experience built an exhaustive database of potential customers and he refers your listing or requirement to generate leads. Gives sound advice on the market value component to price it realistically so that it is sold faster. He provides a visual presentation of your property and suggestions to enhance its marketability and coordinates marketing and advertising of your property on various platforms. Besides, the previews and arranges a walk through each potential home, to show properties that match your requirements and answers all your queries at various stages of the engagement to keep you updated of the progress achieved and ensure your satisfaction.

The real estate market is the economic sector that involves the buying and selling of infrastructure such as buildings either for residential purposes, business premises, and the industry segment. Like any business sector it is susceptible to the economic forces of supply and demand. The main people involved in this field include the owner, renter, developers, renovators, and the facilitators.

This sector has a number of characteristics that are specific to it. Real estate is durable since the buildings can last for many years while the land it stands on is indestructible. As a result the supply is composed of a large share of already pre-existing stock and a tiny percentage of new development. Thus the stock varies in price only according the deterioration, renovation, and the new development coming up.

Stock in this sector could be referred as heterogeneous since every piece is unique. All buildings are different in terms of the location they are situated in, their structure and design as well as how they are financed. Change in this field takes quite a long time. This is as a result of the long duration involved in financing and construction of new property.

The real estate has the very unique feature in terms of the buyers in this market. The property can be purchased either as an investment with the expectation of earning returns or as a consumption good with the thought of using it. Individuals could also invest in the market for both reasons whereby they use the property for a while before selling it at a profit. As a direct result of its dual nature, there is a high demand since individuals tend to over-invest in this sector.

Immobility is yet another characteristic unique to this sector. The properties as well as the land it lies on are both immobile. As a result there is no physical market place meaning one has to go to where the property is situated. Therefore this issue makes location a prime factor before investment.

The main factor in demand for property is demographic, that is the population size and growth. The demographic composition plays a huge role in determining the demand and as a result the price. The performance of the economy also affects the performance of the sector since it plays a role in the ability of investors to take loans and mortgages for financing their business ventures. Naturally, the pricing determines the level of demand in the sector.

There are a number of ways to finance investment in the real estate market from government and commercial institutions. Financial aid can be obtained from commercial banks, savings banks, mortgage brokers, life insurance companies and other financial institutions. However, the best practice still remains getting funding from your own savings.

In view of the recent real estate market crash it is best to follow some guidelines. As a buyer ensure that the price you pay for the property matters a lot as well as the ability to dispose of the purchase later down the road. If not it is advisable to downsize your mortgage to be on the safe side. As a seller, identify when it is the right time to put your property on the market in order to avoid low offers.