Oct
20

Advantages of an Exclusive Property Listing Settlement With Your Real Estate Agent

Property consumers are often uncovered to lesser possibilities than the availability. This is due to the fact of the unwillingness of estate brokers to share the data about unique attributes at their disposal with each individual other. This may perhaps also give issue to the seller due to the fact the property receives uncovered to lesser current market, and it has much less chances of acquiring the greatest doable price tag. The seller is also susceptible to dropping observe of the total method, some thing that can have major ramifications in the upcoming. On the other hand, there is a straightforward nevertheless effective resolution to this issue. And that resides in the formulation of an exclusive listing settlement concerning the realtor and the seller.

How does an exclusive listing settlement weed out the flaws of the latest program? And how does these kinds of an settlement facilitate all the 3 events involved.

  • An exclusive listing settlement operates the two for the seller and the agent. The agent is confident of staying financially rewarded if he sells the property for a better price tag and therefore is more determined to accomplish the very same although the seller is most welcome to any high bids that the agent brings in.
  • By law, an exclusive listing settlement lets the agent to put up a lawn indicator in entrance of the property for sale. Traditionally, 60% of all consumers are captivated to attributes soon after noticing lawn signals. So when a lawn indicator goes up, the seller is confident of a better current market for his property which increases the opportunity of him acquiring a much better deal.
  • Carrying on from the to start with point, if an agent is confident of his economic upcoming with the property, he will also devote more in promotion the property which will of study course bring in more prospective prospects, driving up the demand from customers for the explained property and along with it , the price tag.
  • Through an exclusive listing settlement the property is offered with publicity to other brokers ensuing in the boost of the demand from customers of the property and involvement of more consumers. A much better offering price tag can be accomplished by this method.
  • The exclusive listing settlement retains the property seller involved during all of the stages of the transaction. The agent shares all data with the consumer and guarantees that it goes without the need of any hindrance.

With an exclusive listing settlement the seller and the agent merge into just one staff and collaborate collectively to just one single purpose exacting the optimum price tag of the property. For evident reasons, these kinds of an arrangement is much better than a seller functioning on your own seeking to promote his property although juggling the task with his other everyday pursuits. Group get the job done has often been regarded as more useful. Hence, you are advisable to have an exclusive listing settlement with your real estate agent. …

Oct
20

What Do Manufacturer Touchpoints Mean in Real Estate Agent Internet marketing?

A short while ago, soon after talking to a group of experts in the building business, the nearby distributor of Tyvek handed my colleague his card. Between its several purposes, Tyvek is utilised to wrap structures at building web pages. The card was alone designed from Tyvek, which helps make for a pleasurable, tactile, manufacturer-reinforcing practical experience. I do not doubt that several discussions have began with, “wow – what’ that card designed of?”

A business card is a specific illustration of a manufacturer touchpoint, a spot the place your manufacturer as a real estate agent and your focus on property prospective buyers fulfill.

Seasoned entrepreneurs often say “Every little thing Communicates.” That’ a broad strategy, but manufacturer touchpoints deliver it down to truth. Every little thing, from your business card to your genuine merchandise or provider, says some thing about your manufacturer as a real estate agent – and it’ your task to know what it’ saying.

Powerful entrepreneurs know that they have to be intentional about almost everything that they do. In other terms, you have to make your mind up what you want to identified for just before you manufacturer by yourself. A information is crafted about why you are the very best decision for the property prospective buyers you want to get the job done with. The voice, persona, and appear-and-feel have to be proper. After that, you can convey that information utilizing all of the channels of interaction obtainable.

Individuals channels are your manufacturer touchpoints. They can incorporate advertising, marketing and advertising collateral products, net website and stationery. Individuals are the evident ones. The touchpoints you do not think of, while, are the ones that are very likely lead to you issues. These are items like voicemail messages, telephone way (of everyone who responses the telephone on your behalf) and the look of coworkers, automobile, or place of work.

To expand on this, you want to ensure that just about every of these touchpoints is basically setting up up the “know, like, and have faith in” component with your best clientele. If you want to be identified for currently being very businesslike, then your voicemail really should be really to-the-point and your dress additional advanced. If you want your manufacturer to be additional folksy, then your voicemail can incorporate a additional friendly or inspirational information, and your dress may perhaps be additional informal.

The most vital thing is consistency. You want just about every manufacturer touchpoint to be reinforcing the identical information. Do not allow hidden manufacturer touchpoints damage your real estate agent marketing and advertising. Don’t forget that almost everything communicates. That abrupt voicemail information or dirty automobile could undo a lot of difficult get the job done.

Feb
27

Applying the Broken Windows Theory to Code Enforcement in Urban Communities

The 2008 to 2012 global recession resulted in a landscape of abandoned homes in many neighborhoods across the United States due to the crisis that severely impacted the real estate and financial markets. Although very few communities were spared the negative effect of scattered vacant and unmaintained homes, this large spread dilemma impacted many urban areas more significantly as residential property values and socio-economic conditions were already compressed by limited personal household and public resources. But this rise in properties that once were homes to families known and seen to neighbors that now had become edifices of visual neglect, unsafe locations, and prime targets for eventual squatting, created an environment for widespread concern and reaction from all levels of government. At the local government level, one by one, each jurisdiction began adopting new policies and implementing programs in an effort to curtail the problems associated with extended periods of property maintenance neglect caused by the abandonment by owners, and seemingly lackadaisical response by the financial institutions that became responsible for those assets.

Control in a Changing Neighborhood Environment

Code Enforcement agencies immediately responded to the distress calls and complaints from neighbors and community leaders that had become desperate to try to eradicate the problems associated with the conditions of these abandoned homes, but quickly became overwhelmed both by demand for services and funding necessary to provide adequate property maintenance and nuisance abatement. Vacant property registration programs quickly found their way into local legislation that shared common requirements for mortgagees or ‘banks’ to step in after a property was abandoned by their owners and take responsibilities to provide proper responsible party information, local property management, routine maintenance and security. These registration programs, due to the requirements imposed on the banks, actually provided a sense of structure and control that was needed in order for the banks to properly respond and for communities to feel a sense of control. While these programs were highly effective, the slow turnover rate of these properties to new owners, still left neighborhoods with homes that are visibly unoccupied, not well-maintained, and subject to continuous vandalism and trespass.

The economic decline also hit property owners of homes and rentals who walked away from properties where there were no mortgages leaving no interested parties to immediately step in and take responsibility for maintenance adding another level of concern for areas that were already economically depressed and dealing with higher incidents of criminal activity. In a response to citizens to create safer communities and increase livability, one of the theoretical tools used in the practice of law enforcement, the broken windows theory, is making its way into the thinking of how to attain environments free from visual signs of neglect and public nuisances through its application to code enforcement efforts.

The Broken Windows Theory

The broken windows theory is based on the premise that unimpeded disorder in urban communities leads to additional crime and anti-social behavior. This criminological theory was introduced in 1982 by two social scientists, James Q. …

Feb
26

Buy and Hold Real Estate – The Best Strategy During Tough Economic Times

Buy and hold real estate is a strategy most successful investors use during tough economic times. If you were to compare buy and hold investing with say a flipping strategy, you’d need a longer time frame to realize your goals, but its well worth the wait. This strategy will make you a lot of money if you plan and work the deal appropriately.

First, let’s describe how you execute this strategy. The idea is to buy a property at below market value, and profit from the appreciation of the property as the value rises over the years. In most cases, it takes a few years to realize considerable gains. Contrasting that with a flip strategy, you would purchase a property with the immediate intent to fix it up and sell it for a higher amount. The caveat is you may not be able to sell the property for the amount you’d like, so you may end up buying and holding it anyway.

Now that we know what the strategy entails, let’s discuss the reason it works well during distressed economies. When the housing market is in turmoil, property values become very low. Prices are generally well off their all time highs. This means the real estate investor can buy and hold real estate over a number of years and realize a profit. Simply put, there’s room for the value of the property to grow. If you made the mistake of buying the property at its’ highest value, you’d have to ride it down and wait for it to return to previous highs, or take a loss. Your investing time horizon and threshold for losses will help you make your decision.

Another benefit gained from this strategy is you can receive monthly rental income while the home is rising in value. To some investors, this more than offsets the time required to realize a profit through appreciation. Hopefully this article makes your choice of strategy clear for investing during tough times. Every strategy has its’ time in the sun. You should look to buy and hold real estate when property values are depressed.

Feb
25

A Complete Guide For Restaurant Real Estate Investments

Restaurants are a favorite commercial property for many investors because:

  1. Tenants often sign a very long term, eg 20 years absolute triple net (NNN) leases. This means, besides the rent, tenants also pay for property taxes, insurance and all maintenance expenses. The only thing the investor has to pay is the mortgage, which in turn offers very predictable cash flow. There are either no or few landlord responsibilities because the tenant is responsible for maintenance. This allows the investor more time to do important thing in life, eg retire. All you do is take the rent check to the bank. This is one of the key benefits in investing in a restaurant or single-tenant property.
  2. Whether rich or poor, people need to eat. Americans are eating out more often as they are too busy to cook and cleanup the pots & pans afterwards which often is the worst part! According to the National Restaurant Association, the nation's restaurant industry currently involves 937,000 restaurants and is expected to reach $ 537 billion in sales in 2007, compared to just $ 322 billion in 1997 and $ 200 billion in 1987 (in current dollars). In 2006, for every dollar Americans spend on foods, 48 ​​cents were spent in restaurants. As long as there is civilization on earth, there will be restaurants and the investor will feel comfortable that the property is always in high demand.
  3. You know your tenants will take very good care of your property because it's in their best interest to do so. Few customers, if any, want to go to a restaurant that has a filthy bathroom and / or trash in the parking lot.

However, restaurants are not created equal, from an investment viewpoint.

Franchised versus Independent

One often hears that 9 out of 10 new restaurants will fail in the first year; however, this is just an urban myth as there are no conclusive studies on this. There is only a study by Associate Professor of Hospitality, Dr. HG Parsa of Ohio State University who tracked new restaurants located in the city Columbus, Ohio during the period from 1996 to 1999 (Note: you should not draw the conclusion that the results are the same everywhere else in the US or during any other time periods .) Dr. Parsa observed that seafood restaurants were the safest ventures and that Mexican restaurants experience the highest rate of failure in Columbus, OH. His study also found 26% of new restaurants closed in the first year in Columbus, OH during 1996 to 1999. Besides economic failure, the reasons for restaurants closing include divorce, poor health, and unwillingness to commit immense time toward operation of the business. Based on this study, it may be safe to predict that the longer the restaurant has been in business, the more likely it will be operating the following year so that the landlord will continue to receive the rent.

For franchised restaurants, a franchisee has to have a certain minimal amount of non-borrowed cash …

Feb
24

Starbucks Coffee – What Commercial Real Estate Investors Should Know

Company Summary

Starbucks Coffee, sometimes referred to as Fourbucks Coffee is the largest coffeehouse chain in the world. It opened its first store in 1971 in Seattle's waterfront Pike Place Market by three partners: Jerry Baldwin, Zev Siegel, and Gordon Bowker to sell high-quality coffee beans and equipment. In 1982, Howard Schultz, the current Chairman and CEO joined the company as the Director of Marketing. He was impressed by the popularity of the espresso bars in Italy after he traveled to Milan in 1983. Back to the US, he convinced the founders of Starbucks to sell both coffee beans and espresso beverages. However, the idea was rejected so he left the company and founded Il Giornale coffee bar chain in 1985. In 1987 Howard Schultz and Il Giornale bought Starbucks with $ 3.8M and renamed Il Giornale coffee bars to Starbucks and turned it into the Starbucks you know today . The company went public with the symbol SBUX in June 26, 1992 at $ 17 / share with 140 stores. Since then the stock has split 5 times. As of May 2008, SBUX is traded at about $ 16, down from the high of $ 39.43 in November 2006.

Starbucks opened the first overseas store in Tokyo, Japan in 1996. The company currently has about 16,000 stores, employs 172,000 partners, AKA employees as of September 2007 in 44 countries. It has annual sales of over $ 10B with most recent quarterly revenue being $ 2.526B. About 85% of Starbucks revenue comes from company-operated stores.

Starbucks does not franchise its operations and has no plans to franchises in foreseeable future. In North America, most stores are company-operated. You may see some Starbucks stores inside Target, major supermarkets, University campuses, Hospitals, and Airports. These stores are operated under licensing agreements to provide access to real estate which would otherwise unavailable. Starbucks receives licensee fees and royalties from these licensed locations. At these licensed retail locations, the workers are considered employees of that specific retailer, not Starbucks. As of 2008 it has 7087 company-operated stores and 4081 licensed stores in the US. Internationally it has 1796 company operated stores and 2792 joint-venture or licensed stores in 43 foreign countries. The pace of expansion is slowing down as the company plans to open 1020 US stores in 2008, less than 400 stores in 2009 down from 1800 stores in2007. In addition, it also plans to close 100 stores in 2008.

Risks to Real Estate Investors

Starbucks coffee buildings remain a popular investment for many investors. When you consider investing in a property occupied by Starbucks, you need to understand the following risks of your investment:

  1. Recession-sensitivity: a hungry man can survive with a Big Mac & fries but can live without a four-buck Frappuccino. This means Starbucks is very sensitive to economy downturn as seen in 2007 and 2008 compared to Burger Kings and McDonald's. This may be the main reason sales at stores in the US open at least a year are
Feb
23

Agent Marketing Minute: Let a Brag Book Tell Your Story

In today’s competitive real estate marketplace, I still amazed at how few agents know how to communicate their real estate business story to a home buyer and seller. First impressions count, and you need to be prepared verbally and visually to tell your story and why the consumer should use you and not the competition. Soon after I started in the business I developed for lack of a better name, my brag book, that take on all listing appointments and first meetings with buyers.

My books’ contents are always evolving and are constantly updated with current information and examples. The first section has as many active, pending, and closed listings as I can fit in. I include property brochures, postcards and virtual tours on CD-ROMs. Include a variety of price points and locations.

The second section has examples of newspaper advertisements, magazine features, and screen prints from my and my brokers web site to illustrate what types of marketing I do for a specific property.

Third in my brag book are the actual cards, letters, and emails that have testimonials from clients, both buyers and sellers, about their satisfaction with my real estate business.

Lastly, any awards or non-profit work I do in the community, I like to point out that giving back to the community is an important part of my business. After a client goes through my book, they have an comprehensive idea of what benefits I bring to the table. Let your brag book help tell your story to prospective clients.

Feb
23

4 Steps To Sell a House During Divorce

Getting divorced is certainly one of the worst situations a person can find themselves in. Not only will you have to go through immense emotional and psychological trauma, but you will also have to face numerous financial challenges along the way.

Considering most married couples own a house, a question is posed regarding the fate of the house. Will the house be bought out by one of the partners, or will the partners put the house for sale and share the profits together.

Before selling the house it’s important to know that you will have to pay off the mortgages and brokers fees with the revenue from your house sale.

A lot of people wonder how you sell a house after or during a divorce. Here are some of the most important steps when selling a house.

1) PICKING AN AGENT

While it is fine to try and sell your house without the service of an agent, it is not recommended. The stress of the divorce is already enough for both partners, you don’t need another unnecessary burden.

Picking an agent shouldn’t be a case for arguing. You have two options: picking the same agent that sold you the house in the first place, or picking a completely new agent.

If both of the parties agreed on selecting a new agent, it’s best if they could come to an agreement on a specific person too. This is usually not the case and the decision of a third party is needed. This person can be a close relative or a mutual friend.

Quick Fact: States divide property differently. Some states recognize the legal theory of “community property” while others rely on a judge’s decision after listening to each party and using a special formula to determine the division of property. (Source: http://family.findlaw.com/divorce/checklist-dividing-marital-property.html)

2) SHOWCASING THE HOUSE

This is a more difficult step in the process because it involves a lot of tedious tasks such as painting, repairing and moving furniture. You will also have to splash out some cash for these tasks if necessary.

If you have moved out from the house after you put it on the market, it would be a brilliant idea to hire an agent to stage your house. Staging involves composing and customizing the furniture and other items of the house in such a way that will make it presentable and sway the customer in to buying a house. This is a very important step.

The partners can also mutually agree on making the house more presentable if they feel they are up to the task.

Quick Fact: If you’re getting a Wisconsin divorce, all assets will be considered during the division of revenue generated by the selling the property. (Source: http://www.sterlinglawyers.com/wisconsin/divorce/)

3) DETERMINING THE PRICE

The price the agent suggests is the best price you will get. The reason you hired your agent is because of his expertise in this area and your relative incompetence on the other side.

Giving your partner and …

Feb
22

Advantages of an Exclusive Property Listing Agreement With Your Real Estate Agent

Property buyers are always exposed to lesser options than the availability. This is because of the unwillingness of estate agents to share the information about different properties at their disposal with each other. This may also give problem to the seller because the property gets exposed to lesser market, and it has fewer chances of getting the highest possible price. The seller is also vulnerable to losing track of the entire procedure, something that can have serious ramifications in the future. However, there is a simple yet efficient solution to this problem. And that resides in the formulation of an exclusive listing agreement between the realtor and the seller.

How does an exclusive listing agreement weed out the flaws of the current system? And how does such an agreement facilitate all the three parties involved.

  • An exclusive listing agreement works both for the seller and the agent. The agent is assured of being financially rewarded if he sells the property for a higher price and thus is more motivated to achieve the same while the seller is most welcome to any high bids that the agent brings in.
  • By law, an exclusive listing agreement allows the agent to put up a yard sign in front of the property for sale. Historically, 60% of all buyers are attracted to properties after noticing yard signs. So when a yard sign goes up, the seller is assured of a higher market for his property which increases the chance of him getting a better deal.
  • Carrying on from the first point, if an agent is assured of his financial future with the property, he will also invest more in advertising the property which will of course attract more potential customers, driving up the demand for the said property and along with it, the price.
  • Through an exclusive listing agreement the property is provided with exposure to other agents resulting in the increase of the demand of the property and involvement of more buyers. A better selling price can be achieved by this procedure.
  • The exclusive listing agreement keeps the property seller involved throughout all of the stages of the transaction. The agent shares all information with the buyer and ensures that it goes without any hindrance.

With an exclusive listing agreement the seller and the agent merge into one team and collaborate collectively towards one single goal; exacting the maximum price of the property. For obvious reasons, such an arrangement is better than a seller working alone trying to sell his property while juggling the task with his other daily activities. Team work has always been considered more beneficial. Therefore, you are recommended to have an exclusive listing agreement with your real estate agent. This will surely make things easier for you.

Feb
21

How to Become a Jamaica Real Estate Agent – The Licence to Sell Jamaica Properties Legally

If you are looking to sell real estate in Jamaica, you can do so by attending the Real Estate Salesman’s Course #100H that is offered at the University of Technology, Jamaica. After passing the course, you are required to go through a few background checks to ensure you don’t have any skeletons in your closet. The final step is an interview with the Jamaica Real Estate Board to get final approval for you to become a Sales Agent.

Salesman’s Course #100H

This course is four weeks full time at the Faculty of the Built Environment, University of Technology, Jamaica. It offers material that is necessary for you to become an efficient agent in the local market, because what you don’t know can hurt you. You will be trained to handle transactions for Jamaica Properties such as Sales, Rentals and Leases.

Background Checks

The nature of the industry involves huge monetary transactions and in such a field you might find persons of a dishonest nature. In order to protect persons and their assets from thing like fraud, a background check is done on each applicant for a license approval, one of these checks is a police report.

The Interview With The Board

After gathering all the documents from your background check, you should submit these documents and attend an interview with an officer from the real estate board that puts the final stamp of approval on you application to become a sales agent in Jamaica.

Start Selling

After you have passed the exams and checks to practice in Jamaica legally, in most cases you must be employed to a licensed Dealer in Jamaica. There are some exceptions where persons can sell properties without being licensed but you should check the Jamaica real estate Act for the conditions.

Feb
20

Mortgage Loan Officer Training: 10 Helpful Tips That Can Instantly Boost Your Income

Well here they are… 10 mortgage loan officer training tips to improve efficiency and increase revenue. These tips have made me hundreds of thousands of dollars over the years and I’m confident they will do the same for you:

Mortgage Loan Officer Training Tip #1:

Only use a few lenders

Depending on your niche, all you really need is a few good lenders. With a portfolio of about five lenders, you can handle all credit grades and even special programs like stated, no doc and 100% financing.

Mortgage Loan Officer Training Tip #2:

Read your lender’s guidelines to build an intimate knowledge of their products and procedures – THIS IS A MUST!!! (And easy to do if you only use a few lenders.) Don’t rely on lender reps to tell you about their guidelines. They are human and can make mistakes just like the rest of us.

Mortgage Loan Officer Training Tip #3:

Send gifts to your appraiser, title agents, and underwriters to gain favor. This is a great way to build relationships with the people you rely on to do business. Look for a reason to send these people a thank you card along with a gift. This is another good reason to use only a few good lenders.

Mortgage Loan Officer Training Tip #4:

Define your market

What loans will you do and what loans will you not touch? You can and will cause yourself undue heartache if you agree to take a loan that is outside of your market. For instance, I refused to even look at a loan unless the borrowers had a credit score of 580 or higher. If an applicant has a credit score less than 580, I referred them to my loan officer partner and split the commissions.

Mortgage Loan Officer Training Tip #5:

Specialize

Find a niche. Specialists always make more than generalists. Everyone does purchase loans on single family houses. What if you became the expert in your area on financing investment properties, construction loans, or VA loans? With some work and dedication you could become the mortgage lending “guru” for your niche and monopolize your marketplace.

Mortgage Loan Officer Training Tip #6:

Location, location, location

If you can: Keep a frig in your office, place a copier close to your assistant’s desk, and have your computer printer right next to your desk. This will save loads of time walking around the office. It will also keep your assistants focused. Sometimes it’s hard to walk through an office without falling into several casual conversations that can lower your team’s production.

Mortgage Loan Officer Training Tip #7:

Get all documentation up front

I believe in getting every piece of documentation I could possibly need right up front. That way if a problem arises you have a greater chance of being able to fix the problem on your own without bothering the borrowers.

Mortgage Loan Officer Training Tip #8:

Only the necessities

Just because you collect extra documentation, doesn’t mean you have to …

Feb
19

Buying Parking Lots and Parking Garages: Finding the Most Profitable Locations

There are plenty of successful investors out there, but many work so hard that it’s hardly worth the money-because they’re never freed up to enjoy the fruits of their labor! It’s far more worth it to find an investment strategy that would allow you to make considerably more money and create more time to be able to reinvest, spend that money, travel, enjoy time with family, or have fun with that “Bucket List”.

Owning a parking lot or parking garage is a great investment because they can offer you two things: free time and exponential amounts of income. Finding these gems is the hard part because most existing “cash cow” lots are sold before they are even listed. And most are purchased by other parking lot owners-they know what they have, and they want more. If you can find these potential parking lots and garages before anyone else, you can find these extremely rewarding profits too.

Think ahead

Most parking lot locations were never designed to be just that. Parking lots are built out of necessity, plain and simple. Someone would never build a parking lot and then proceed to build something that draws people who need to park; never! It sounds simple, but you need to be ahead of the building curve and search for land before it holds great value. You can do this by recalling where you would need to park a car. Think for a second: Where do people really need to park? Let’s brainstorm: shopping malls, schools, sporting events, entertainment districts, government centers…the list goes on.

Now let’s look at these ideas: malls will provide parking for customers because they want shoppers (so scratch that); schools do the same, but there always seems to be no parking at some schools (possibility here). Every time I see a concert, I end up paying to park; keeper. Last time I got a traffic ticket, it took me 30 minutes to find a parking place at the courthouse to fight that traffic ticket. Ding, ding, ding-got a good one here. Where have you needed to park? Where have you paid to park? I used the same thought process and search techniques you just practiced to purchase a one acre plot of seemingly worthless land across from a new 380 million dollar courthouse that was yet to be built. The property owner had the land for 30+ years and did nothing with it, including not reading any local newspaper that clearly highlighted the new courthouse: funding was approved, a date for the ground breaking ceremony had been set, and the severe lack of parking was already projected in the overly-crowded area!

Harness the power of Google

Seems so simple, right? After all, who has not Googled something? Google, the most popular search engine in the world, is a robust mechanism for quickly finding what you need on the web. Unfortunately, a standard Google search of “parking lot for sale” will currently return around 14.6 million results that are all …