Real Estate Team Player

Real Estate Team Player

There is a lot of buzz out there in the industry today about the emergence of “teams” and how dominant they can be in their market. Is this the wave of the future and are we going to see the sole practitioner move into the background?

I don’t think so as long as we have top producers like Margaret Rome of Baltimore, Maryland who dedicated herself to building a successful solo career by structuring her business and personal life. She shared her philosophy and commitment to helping other agents in the industry in a recent interview where she highlighted some of the key elements that make a successful solo agent.

· It is critically important for the agent to be the one that communicates with the client. If you don’t, you can’t be sure that they are looking at the right properties for the right reasons.

· Outsource those tasks that take your time away from interacting with your clients.

· Maximize the use of technology to insure timely communication and the delivery of the specific information the client is requesting.

· Your website should answer every question about you that the customer has – just as if they sat down and interviewed you.

· Be a specialist and choose to work with those clients with whom you can build a relationship; which primarily come from your referral network.

· Focus on customer needs and wants and insure that you are prepared and ready to deliver.

· There are 3 key questions to set before every seller to set the tone for building a relationship of trust:

1. Are you 100% sure that you are ready to sell your house?

2. Do you have any questions a out the company I work for?

3. Are you 100% sure you want to use me as your real estate agent?

· All showings should be conducted by the agent; your clients need to be certain that you are in charge and delivering on your promises.

· You need a blog and if you can’t write you should hire a writer and provide them with the ideas and subjects. It will dramatically improve your web traffic.

Is the team concept for you or are you the committed sole practitioner? It has a great deal to do with your personality. Are you a “Type E” personality? If you are it may very well impact which path you take. You can find out by going to going to www.typeepersonality.com and taking their short quiz. Margaret found out that was a real key to her success as a solo agent.

She summed up her thoughts with 5 guidelines to becoming a successful “non-team member:”

1. Really work only with people that you like and respect.

2. Get all the tech tools you will actually use.

3. Maintain “constant” email access and respond immediately

4. Keep in regular contact with clientele and other agents.

5. Never stop learning.

If you want to ensue that you are staying up-to-speed with all aspects of the real estate industry, you should check out membership in iSucceed.com. There are over 200 top producing agents like Margaret Rome that have provided you with all of their tips, tools and strategies.

Source: http://www.realblogging.com/are-you-a-real-estate-team-player

Simple Real Estate property Tips

Simple Real Estate Tips

People everywhere are looking for some sort of Real Estate or some sort of home.

There are several types of people relating to Real Estate.

The first type of people are first time buyers. A newly wedded couple are in an apartment and they need to move to somewhere bigger. So they go looking for a house.

The second type of people are those that have already been an a house for several years. They find out that they bought a "lemon". They are searching for a new house.

The third type of people are those who just want a new house just to have a new house. So they go looking for a new house.

There are things that all three of these types of people need to keep in mind.

Interest rates
Pre-existing problems to the house
Money

Money in fact is the most important thing. It all revolves around the other things. If you don't have the money of course it doesn't matter what the interest rate is.

Make sure that you find a good real estate agent. Find one, preferably a recommended one from a friend or neighbor. Make sure that they know what they are doing.
Realtors can be a blessing and then other Realtors can be a curse. Of course Realtors will get there share, but if you get a good Realtor that will help you no matter what, stick with them.

From personal experience, don't get ripped off on your interest rate. Make sure that it is locked, if that is what you are getting. Have it in writing and have it faxed to you or mailed to you. Even if you have the mortgage company lock your interest rate over the phone, I don't know how else to tell you to make sure you have it in writing. It is as important as having your heart.

Keep in mind when you search for a new house, that you take a look at the structure of the home the foundation and how everything is made. Don't be afraid to ask the owners of any problems that are not seen with the naked eye. e.g. plumbing, fixed foundation problems etc.....

This tip is pretty self-explanatory. If money is a major issue with your family. Get the money problems under control

Last but not least, buying a home is no joke. It is a life-changing decision. It is a step to another part of your life. Whether you are a first time buyer, looking to get out of a lemon, or just want a new house. Make sure(I hope I am not wearing that phrase out) but it is important that you do make sure you know what you are doing, pay attention to everything that you do including mortgage interest rates, Realtors and the house itself. It is that important.

Hope this has helped you somewhat. Good Luck!

Article Source: http://EzineArticles.com/?expert=Kenia_McDonald

How Understand Commercial Property

How to Understand Commercial Property

Have you ever heard other investors talk about commercial property, but were unsure about what they meant?

Its okay we have all been there.

One of the main problems about commercial property is its diversity. For example what is commercial property? What properties fall under its characterisation?

Simple.

Commercial property is commonly classed as containing a diverse group of structural types and uses. Yes we know, this doesn't exactly help you narrow down on its meaning, but there's more.

We can help you to break down commercial real estate into 3 distinct categories that will soon have you investing in the rental properties you want:

Multi-Family Commercial Real Estate

These consist of duplex homes* and other constructions built for habitation of multiple family groups, for example apartments, semi-detached, terraces...

*a duplex real estate property can fall under either residential, multi-family or commercial. In simple terms, a family may buy one and choose to rent out the other side. If a buyer does choose to do this it will be recognised as a residential unit. Alternatively, an investor may buy want to one and rent out both of these units. This changes its category and makes it a commercial property.

Retail Space Real Estate Properties

Or you may call them shops. These are single buildings used to house clothes, electrical or consumer stores. These can also be found on a much larger scale, for example shopping centres and restaurants can fall under this characterisation.

When opting to invest in a retail real estate property. Valuations are either be based on size and land value, retail sales per square foot or on the possible investment return you can generate from your rental property.

Of all these commercial types, these are probably one of the hardest commercial properties to invest in. They are prone to - depending on the location you are investing in - to sitting empty with no tenants for months on end, and for not generating a consistent monthly cash flow.

So if you want to invest in retail properties, only invest if you are confident that you can make a profit from them.

Office buildings and Office Complexes

Is exactly what the title describes them as: they are a single building designed solely for office use. You can expand upon this property investment though by either turning one office building into a group of offices or by buying the surrounding buildings (of the same structural type) and turning them into a cluster of offices.

A few things to remember though when you invest in an office building is that if the offices are grouped under a single ownership they will be listed as commercial office rental properties.

This will enable you to rent out your property investments, and earn a positive cash flow every month, whilst letting your tenants pay for the mortgage. You will have to pay nothing.

Plus if you do choose to rent out your offices, they can be valued based on your rental return on the property rather than per square foot or its land value.

And that's it.

Commercial property doesn't have to feel like an obstacle. By applying these 3 simple terms to your investments you will know exactly where you stand when you come to invest, plus will be able to pick out the right deals for you.

Perfect.

So get investing, and let commercial property open your investment horizons.

Article Source: http://EzineArticles.com/?expert=Frank_Woodford

Real ESTATE PLANNING

For individuals who want to exercise control over their property after their death, estate planning becomes very important and necessary. Without proper planning sibling rivalry and issues regarding the distribution of property will intensify. It is important to overcome negative outcomes such as family members not speaking to one another, lawsuits, or strained relationships through estate planning in advance.

It is also very necessary to consider such human factors as to where to begin discussion. The owner has the ultimate right to decide what is to be done with the property, hence all legal aspects of ownership needs to be clarified. Once it becomes clear as to who owns what, where and to what extent it will help to transfer the property smoothly before or after death. Problems can arise if the owner does not accept the right of owner ship and with it the responsibility of property transfer. In case of joint ownership, all the owners need to communicate their desires with each other.

Sometimes children can forget who owns the property and at times, the strong influence of some family members can get in the way. It is for these reasons that the lawyers do not allow family members to be present when the legal discussions are underway with the person planning the estate. If the lawyer is certain that the owner of the estate will not be influenced by anyone he may prefer to allow the family members. This happens more so in cases when it is the first estate planning document or the will of an elderly parent.

It may also not be prudent to have one attorney prepare all the estate planning documents for closely related family members, unless it is clear that each person is knowledgeable, articulate, strong-willed, and familiar with legal terminology.
Similarities of family members in age, health, family situation, assets, and goals need to be considered. The more they are similar; they can all be represented by one lawyer. The more dissimilar their characters and positions are, they will require independent representation. Jointly held businesses which are not in partnerships need to be given special consideration.

If it is a husband wife family, the lawyer's ability to represent both parties will be influenced by the relationship of the lawyer to one family member, but not the other.
The relative size of each estate, the existence of children from prior marriages and the stability of the marriage are the factors that come into consideration. It is the creation of the multi-generational estate plan that sees the greatest opportunity for conflict in all families. The question that needs to be specially considered is the need for income in the future, whether the asset itself is a problem for the marital deduction, or whether the asset should be kept together with the rest of a business.

The objective of estate or family planning is to minimize taxes, reduce or eliminate probate and to maximize the beneficiary's estate, apart from reducing family conflicts, misunderstandings and rivalry in the future.

Real Estate Secrets

Real Estate Secrets

What is it really that keeps people rich? What is the real secret of those who have plenty from enough to scarce? What difference do those successful in terms of money have from those who are in need of it?

Usually, we classify rich by determining their ability to spend without any worries. Added that they could be able to save and make their money go up in value without any hassles. Poor folks would just say, "It's because they've been into a good school and of course, from a good family." Other factors such as they have a stable job to give them secure tenure are things that are more likely to be considered too. But I am dearly telling you that these are not the major factors why rich become even richer and poor even poorer. Having a good education, a stable job and things like that cannot greatly secure your future. There are lots of those who had a college degree yet are still jobless. And the worst scenario is listening to other people who know nothing but to keep you worry.

Those people who are already rich are in the state of composure when it comes to their money because they know they are in the right track. They know that they have invested their money in the appropriate venture and their risks were worthy of their efforts and trust. This is the big difference of those who confidently make use of their money to those who are scared to take risk. It is indeed true that it takes money to make money. But in Real Estate Investing, your money is in the safe vault if you are to wisely ask for advice from those who provide real facts and not just bluffs.

Nowadays, people tend to engage their selves into a lot of business ventures. Some are successful, but some are not. Now what business is really making it all to the top; not just making the people become richer but also giving them the propensity to enjoy and become passionate with it? You can create any life style you want to, if you just follow some key success principles. If money is the problem, then building a business and investing in real estate is the proven formula.

"More and more people have made and kept their money in real estate than anything else." "98% of the millionaires in this country made it through Real Estate Investing".

But these statements alone cannot gain any attention especially to those who are kind of skeptical to this kind of business. In addition, with a big amount of money involved, nobody would just get hooked up that easily. With all the scams going around actively, you are more likely to be treated as one of those pitiful victims. Many would want to hear a more elaborated testimonial even though there are lots of those already. They need proof. Let's face it, when talking about big bucks; it is really hard to trust anybody. Some would really find it hard to start. Others that have already decided to give it a try tend to back out too.

There are those who always whine about their job or how unsecured their future is; worry when the issue is concerning how irresponsible they are when providing for their family; and complain about their debts and never-ending payments and bills. Saving is a difficult undertaking that they are always struggling for and yet they just end up broke. So thinking about investing is something they disregard. Even for those who have no houses of their own.

Real Estate Investing is a sure fire way to earn some serious cash. Napoleon Hill in his book "Think and Grow Rich" identified that more people earned and held their money in real estate than any other vehicle. You can make quick returns on your money, as well as hold properties for long term appreciation. The return on your money far outweighs the pennies you earn on mutual funds and most 401k plans.

All wealthy people invest in real estate, no matter how they obtained their wealth. In some fashion, they will invest in real estate simply because it is the best way of perpetuating huge returns on their money. Donald Trump, Bill Gates, Warren Buffet and countless other wealthy people, all own several properties all across the world. This is no coincidence.

What makes real estate investing so attractive is the ease in which it can be done. You don't have to be a licensed realtor, and with so many different methods of investing, you will never be at a loss for deals. And the best part is that it does not take money to begin investing in real estate. All you need to do is learn from someone who has the experience and know how, and the ability to help you through your first deal.

It's easy to purchase a course on real estate investment, but the reason so many people fail to ever actually buy one property, is because they lack a mentor and a mastermind team. Think how much easier it would be to buy that first property with someone helping you through the transaction.

The way you see your future, how you see things playing out will indeed become true IF your vividly and repeatedly imagined thoughts reflect your vision. You must have confidence that you have done everything right, done your homework, are acting in congruence with your core beliefs and truly believe you are going to succeed, then the results will be better than you ever expected.

Real Estate Player India

Real Estate Player India

In the new millennia of real estate India has emerged as strong, swift and bold player. Industry expert's believe that the Indian real estate has huge demand potential in almost every sector, be it commercial, residential or retail.

"India is the most exciting real estate market in Asia," says Michael Smith, head of Asian real estate investment banking at Goldman Sachs. "It's one of the last major countries in Asia with an improving market."

The Real Estate explosion

This spurt of growth in the Indian real estate is in large part due to the by the burgeoning outsourcing and information technology (IT) industry. By 2010, the IT sector alone is expected to require 150 million sq.ft. Of space across major cities .New companies means new offices, houses, shops in short commercial, residential and retail space.

This growth is facilitated by favorable demographics, increasing purchasing power, existence of customer-friendly banks and housing finance companies, professionalism in real estate and reforms initiated by the Government to attract global investors. People have more purchasing power and exposure to organized retail formats has redefined the consumption pattern. Even small towns want to emulate the culture of their big city cousins. As a result, retail projects have been mushrooming across even B-grade cities.

This new way of life has quite drastically changed the face of India's real estate, may it be the city centers the urban areas or the new yuppie towns. Small shops, old fashioned bungalows and office blocks have all changed into luxurious apartments, with club-houses, pools and sprawling greens. Instead of small shops we have humongous sprawling malls and office complexes.

The Global Effect

When Farallon Capital Management, a U.S. hedge fund, and its joint-venture partner, Indiabulls, snapped up an 11-acre property in central Mumbai in March 2005 for $54.5 million an acre, the purchase was called an act of idiocy by local developers. A few months later, when the same joint venture offered $95.5 million an acre for a nearby property, this was the second-lowest bid.

The first dynamic impact that announced a global change in the Indian real estate sector came when the Government introduced new policies in February 2005. It allowed 100 per cent foreign investments in construction projects with fast-track approvals. But the fatal attraction for foreign investors was the potential investment returns of 25 per cent or more in Indian projects that were nearly impossible to achieve in the US and European markets today.

Industry sources more than 90 foreign investors are already in the country tapping into the real estate investment avenues in India. Dozens of US funds are being raised for investments in Indian realty. Those raising the funds include Blackstone Group (US$ 1 billion) Goldman Sachs (US$ 1 billion), Citigroup Property Investors (US$ 125 million), Morgan Stanley (US$ 70 million) and GE Commercial Finance Real Estate (US$ 63 million) JP Morgan, Warburg Pincus, Merrill Lynch, Lehman Brothers, Warren Buffett's Berkshire Hathaway, Colony Capital and Starwood Capital, and believe it or not this is just the tip of the ice-berg.

Morgan Stanley closed a deal worth about US$ 150 million with Oberoi Constructions in Mumbai. The Nakheel Group in Dubai entered into a US$ 10 billion deal with DLF for residential projects in Tier I and II cities. This was followed by three financial institutions -- Khaleej Finance and Investment (KFI) from Bahrain, Kuwait Investment Company (KIC) and Kuwait Finance House (KFH) -- from the Middle East promoting a US$ 200 million fund for investing in India.

Players At Home

Investors back home have also sat and started taking active participation in the real estate segment. Indian financial institutions are competing with each other. Prominent companies promoting real estate funds in India are HDFC Property Fund, DHFL Venture Capital Fund, Kotak Mahindra Realty Fund, Kshitij Venture Capital Fund and ICICI's real estate fund, India Advantage Fund.

The Tata group has also joined hands with private equity firm, Xander, to raise US$ 1 billion for an institutional retail real estate fund. DLF has raised US$ 2.24 billion in the country's largest initial public offering and has also entered into a joint venture agreement with Indian pharmaceutical major Ranbaxy group company Fortis Healthcare to set up hospitals across the country with investments of about US$ 1.5 billion.

Conclusion

But with the boom comes the crunch, property prices in India are rising fast, real fast and not just in the biggest cities. As the tech boom spreads across the country, and as more Indians buy homes, and as the economy grows at faster than 8% a year, real estate is attracting more investors, many of them from abroad.

It is really no longer going to be cheap or easy to be a player in the Indian Real Estate Game.

Retail Shopping Development India

Retail Shopping Development in India

India's retail industry is undergoing a dramatic transformation as the masses are scampering to shopping malls and foreign investors are poised to move in ever ready to sweep them in to the retail bosom.

The Retail Attraction

India has emerged as the most attractive destination for retailers in 2007. According to the latest AT Kearney study, for the third year in a row, India leads the annual list of most attractive emerging markets for retail investment followed by Russia and China.

Retail has proved to be one of India's largest industries, and has presently emerged as one of the most dynamic and fast paced industries with multitude of players entering the market. Accounting for over 10 % of the country's GDP and around 8% of the employment retailing in India is gradually inching its way towards becoming the next boom industry.

Policy changes introduced by the Government in February 2005 allowed 100 per cent foreign investments in construction projects with fast-track approvals. This was the global signal and thus began a mad race with the real estate companies to join the retail shopping developers. Foreigners poured in from all parts of the world to join in this real estate-retail development gold rush. International companies from Philippines, Dubai, Malaysia, UK, US, Israel and Singapore were all investing in India's retail development.

Another advantage to the retailing industry in India is allowing 51% FDI in single brand outlet. The government is now set to initiate a second wave of reforms in the segment by liberalizing investment norms further. This will not only favor the retail sector develop in terms of design concept, construction quality and providing modern amenities but will also help in creating a consumer-friendly environment.

India's vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. Even though India has well over 5 million retail outlets, with organized retail industry accounting for just 3% of the country's total retail sales, though it is poised to grow by 97% per year in the next five years to a staggering $24bn.the country sorely lacks anything that can resemble a retailing industry in the modern sense of the term. This presents international retailing specialists with a great opportunity. The organized retail sector is expected to grow stronger than GDP growth in the next five years driven by changing lifestyles, burgeoning income and favorable demographic outline.

The Spending Generation

"...India's middle-classes, widely traveled and with deep pockets, are flocking to malls...India's organized retail industry...is poised to grow by 97% per year in the next five years to a staggering $24bn....in two years there will be 360 malls across the country....And it has only just begun. Developers and promoters of malls believe the face of the industry is about to dramatically change." Source: BBC World Service,

India retail industry is reflected in its sprawling shopping centers, multiplex- malls and huge complexes offer shopping, entertainment and food all under one roof, the concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India.

The new culture brought in by the Tech generation has not only changed the way Indians work but also how they play. This is preeminently reflected in the contemporary retail sector development. The tech generation not only bought in gadgets and gizmos but also big and deep pockets and an eye for all things expensive. They were willing to spend for comfort and pleasure.

Though there is some truth to the fact that most malls are at the moment are being used as hang outs and for window shopping this trend is definitely changing as shopping in malls is becoming not only convenient "everything under one roof" but it is also now catering to shoppers with all sorts of budgets. In fact prices have become so competitive that you can buy things cheaper in a mall than at your local shopping store.

Shop till you Drop

27 million square feet of organized retail space is currently available. Another 90 million square feet is expected to be added by 2008 from 263 mall projects. Of these, 18 million square feet is slated to come up in Delhi as well as in Mumbai, 9.5 million square feet in Ludhiana, 6 million square feet in Chandigarh and 3.6 million square feet in Ahmedabad. Big cities or small towns to the obscure villages, retail shopping development is coming to all parts and corners of India.

With the retail sector experiencing a boom, the country is witnessing a spurt in extremely large retail spaces. Shopping malls with over 1 million sq ft of are now common In the National Capital Region (NCR), Unitech's Great India Place has a million square feet (sq ft) of retail space. In Mumbai, at least eight malls are covering over 1 million sq ft each In Bangalore, at least three malls with similar dimensions are under development. Ludhiana will soon have a 1.6-million sq ft mall by Today Homes. The biggest mall of the world Mall of India will have 32 acres spanning a huge entertainment area and large city town squares offering a total retail experience. The Mantra here seems bigger the better

Specialized malls seems like another catching trend Gurgaon, on the suburbs of New Delhi, has a jewellery mall and will soon have an auto mall. Bangalore will get an exclusive furniture mall. Two malls targeting foreign tourists will come up at tourist hotspots--Goa and Udaipur. A furnishings mall is coming in Kolkata. And India's largest theme amusement park, Noida Entertainment City will be absolutely colossal standing upon 150 acres approximately.

Discount malls are also on the rise. Top realtors and local retail chains are developing malls in regional areas, specifically to sell premium branded goods at prices 30 to 40 per cent cheaper than the maximum retail price. At least 50 discount malls are expected to come up in the next two years across the country, positioned in the middle-to-the-premium end of the market.

Conclusion

In the upcoming years India is set to be crowned shopping paradise, giving strong competition to Malaysia, Singapore, Dubai etc.