Archive for the ‘Agents Realtors’ category

Tips on Finding the Right Real Estate Agent for You

June 22nd, 2011

Buying and selling real estate isn’t easy. The process involves contracts, lawyers, home inspections and a transaction often involving hundreds of thousands of dollars – or more.

Want to go it alone?

Not many people do.

Real estate agents are specially trained to help you fill out the paperwork and handle all the details of the largest purchase of your life. Whether you’re buying or selling, hiring a realtor will reduce your stress and improve your chances of making the right property match.

Here are a few questions to ask prospective agents:

How can you help me find the right property?

A skilled realtor will impress you with his or her knowledge of the local real estate market, and can quickly determine what you are looking for in a new property. He or she should be able to show you what is available in your price range, and how the features and benefits of specific homes and neighbourhoods fit your requirements.

What advice would you offer for my specific situation?

Every buyer is different, and a good real estate agent appreciates this. He or she should be able to advise you on how to find a home that meets your unique circumstances and lifestyle, whether you have a growing family, are downsizing or are looking for investment or commercial property.

Why should I work with just one agent?

If you don’t have an exclusive agency agreement, you’re not legally obligated to work only with him or her to find your next home. However, most people benefit from having an exclusive agreement. Talk to your prospective realtor to find out his or her particular services.

What sets you apart from other realtors?

Every real estate agent says they work hard and can sell your home for the most money. Ask them how. Does he or she have a specific and creative marketing plan to promote your property? How about a marketing network to spread the word about what you’re looking for? You’ll learn a lot from what the realtor says – and how he or she says it.

What happens when I can’t reach you?

Realtors work long hours and adjust their schedules according to when their clients need them. However, there are times when they are dealing with another client, taking a new training course or are out of town. Ask if they have a partner or assistant who can talk to you at times like these. » Read more: Tips on Finding the Right Real Estate Agent for You

Nine (9) Costly Mistakes for New Property Developers to Avoid

June 19th, 2011

Almost everybody knows there is money to be made in real estate and, if they have ever enjoyed renovating a house, that it can also be creative and fun; but what is property development on a grander scale? Is it too hard, complicated or downright financially dangerous? Not at all, but here are 9 costly mistakes to avoid:

1. FAILING TO HAVE A PLAN SUPPORTED BY PROPER RESEARCH BEFORE YOU BUY 
Cervantes wisely said, “Diligence is the mother of good fortune”. Real estate development involves work, money, commitments, risk and other people (many of them highly skilled). If you enter this arena without a proper reason for doing it and concrete plans for achieving your goal you will end up in trouble very fast.

2. DON’T BITE OFF MORE THAN YOU CAN CHEW IN FINANCES AND TIME USAGE 
Flowing from planning are order and control. With these you can manage your time and money properly. Without order and control you can lose all your spare time (and even some of your work time) attempting to manage projects, money and people. You can also go broke, unless you have buyers or renters for your properties.

3. NOT HAVING YOUR FINANCE AND A GOOD LEGAL AND ACCOUNTING TEAM READY 
As a lover of property there are few things more frustrating than finding the right property and not having your finance approved by the bank and ready to go. Of equal importance are having a good, reliable and honest property lawyer (whose credentials, reputation and track record you have thoroughly vetted before you engage them) and accountant on your side. Either of these two can literally make or break you and or your deal.

4. NOT HAVING AN EXPERIENCED MENTOR/FRIEND YOU CAN TRUST TO TALK THINGS OVER WITH 
You need someone who understands you and your history and is close enough to you to be kind, supportive and yet brutally honest. It is best if they are also an experienced investor, businessperson or property developer. If possible also join an online or face to face group of property developers to brain-storm ideas, facts and figures. Do not go it alone.

5. NOT HAVING YOUR PERSONAL LIFE IN ORDER BEFORE YOU START 
Marriage and personal problems are only exacerbated under financial pressure. Many larger decisions must be made when investing and this process can expose underlying insecurities and belief systems that need resolving as soon as possible.

6. CHOOSING THE WRONG INVESTMENT PARTNERS 
Going into business with the wrong person can be even worse than buying the wrong property – they can take years to remove from a company (if you even can) and can cause untold problems beyond your worst nightmares. Never go into business with anyone you have not done due diligence on, or who does not have an excellent reputation for honesty and results and with whom you have a wholesome personal chemistry. » Read more: Nine (9) Costly Mistakes for New Property Developers to Avoid