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Estate Agents and Properties

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Estate agents deal with the buying and selling of real estate and real estate is defined as being land, regardless of as to whether or not that land has any buildings on it. Therefore a real estate agent may be responsible for selling empty parcels of land.

In the real estate business, properties are divided into three different types, residential real estate, commercial real estate and industrial real estate. Although residential real estate will usually mean a piece of land that has either a detached house on it, a semi-detached house, a town house or a block of flats, it can also refer to an empty piece of land that has been designated for residential purposes, meaning that a house can be built on it.

Commercial real estate refers to a piece of land that has shops, hotels, offices or other businesses on it or, once again, an empty piece of land that has been designated as being available for commercial buildings to be built on it. Industrial real estate refers to farms, factories or even mines and may include land that has been designated as suitable for industrial purposes but could also include land suitable for grazing animals.

Although an estate agent may have to know all about all these different types of real estate, it is perhaps more common that a real estate agent will specialize in just one of these categories and in doing so, be able to provide clients with a better understanding of that particular aspect. As there are no academic courses for real estate agents, other than the distance learning courses provided by both the National Federation of Property Professionals (NFoPP) and the National Association of Estate Agents, estate agents are usually trained ‘on the job’ by the agency they work for, it is that agency which will decide which category an agent will specialize in and train them accordingly.

Once trained though, it will be up to the agent themselves to ensure that they are aware of any legal changes to the buying and selling of that particular category of real estate.

It is essential that a real estate agent is fully aware of all the laws regarding the buying and selling of properties as it will be them that provides any relevant paperwork required to make a sale legal and it is also them that will ensure that the completed paperwork, reaches the right places.

An agent that specializes in residential properties may find that they are required to work weekends and holidays whilst specialists in the other two categories do not.

The reason for this is that often the only time potential buyers of residential properties can view houses is on a weekend o holiday whilst commercial and industrial properties are usually viewed during the normal working hours. Obviously the different types of properties may have differing prices but that will not affect an estate agent, unless of course their agency affords them a commission on any sales they make.

The Housing Market

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When a country’s economy is doing well, there is usually a high demand in housing and so the price of properties at that time, often increase however, if a country’s economy is on hard times, prices of housing often go down.

This means that if you are selling a property, you are best advised to do it during a strong economy yet, if you are looking to buy a house, as the prices will probably be lower during times of a poor economy; that is usually the best time to buy. Although a house may indicate an asking price, that price is not necessarily the price you have to pay as you can make your own offer.

Obviously though, if someone else offers the full price, they will probably be the ones that get the house. If however, no one offers the full price, which is quite common, you may be able to go into negotiations with the owner to decide a price that is agreeable to both of you.

The real estate agent will usually mediate these negotiations and encourage you both to reach an agreement. One of the things that you should enquire about when looking at a house to buy, is how energy efficient it is. Heating costs in the winter can be very high if a house is not energy efficient but it may save you a substantial amount each year if it is energy efficient.

If the house isn’t energy efficient, you may perhaps be able to negotiate a lower price because of it but if it is, you may even consider paying a little more than you originally planned.
When looking at houses to buy, people often only look at the house itself and the property it stands on but you should also ask questions about the neighborhood before you reach any agreement.

How far is it to any schools and where are the public transport stops, bus stops, railway station or even the coach terminal. Where are the nearest shops, gymnasium or recreational park and lastly how safe is the neighborhood deemed to be? Is it safe to walk the street at night?

Are there a lot of burglaries in the area? Where the nearest police station and what is are generally their response times? Although these are questions that everybody wants to know the answers to, all too many forget to ask them whilst looking at a house. Although you would like good answers to all the questions, if one or two are not so good, you may accept to buy it anyway but may ask for a discount due to the bad answers.

Many of us only buy a house once in our lives and so it is worth the extra effort to try and be sure that it is not only what you want but also in an area where you want to be. Even if the house you prefer is a little further away from your work, once there is good public transport, it may be your better option.

How to Market Your Real Estate Business like a Pro

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Being in the real estate market is tough as it is without you thinking about viable marketing strategies to attract new clients and stay connected to the old ones. As online marketing has come up as a big game changer in the way real estate agents market their business, the role of old and time tested techniques of marketing should never be under estimated. We know the effort it takes to tackle the ups and downs of real estate market that consumes a lot of time for the business owner. Therefore, we have put together a well researched list on how to market your real estate business that will help you to stay ahead of the competition by maintaining a strong online presence and also market yourself effectively in the real world.

 

Email marketing

Let’s stick to the basics first. We all know email marketing remains the undisputed leader in online marketing techniques. Building your clientele with email lists is of utmost importance as it helps you keep in touch with your previous customers. This is vital because according to a study by National Association of Realtors, about 75% of real estate business is dependent upon referrals from old clients and word of mouth advertising. This statistic should serve as an eye opener for business owners in the real estate market who shell out a lot of money on marketing focused on bringing leads for new clients. Simply put, retaining an old customer is far less expensive and lot more effective in bringing new clients to your doorstep.
Automating your Online Marketing

Time is probably the most valuable asset for a real estate business owner. Hence, automating the online marketing on social mediums such as Facebook or sending out email newsletters is highly recommended. You can outsource the entire online marketing process to internet marketing experts.

Be mobile friendly and stay active on social media

Another great feature you can use is the Facebook boost feature on the Facebook Business page. For a little bit of money, you can boost a post which can include a blog post or video that you have made to attract more views and much needed exposure. Another important thing to keep in mind is to make sure that the content you send out online is accessible on mobile. According to a study, almost 66% of emails are opened on mobile phones or a tablet, which tells you the need to be adaptive to handheld devices.

LinkedIn as a tool to promote yourself

LinkedIn remains the most valuable networking tool as of now on the internet. The reviews on your LinkedIn profile are considered by the prospective clients. You should also use the LinkedIn long form posting feature to post content related to real estate business that showcases your expertise in the field. The content will be posted on the curated news feed, Pulse, which is specially designed to voice the opinions of market experts. Your valuable input regarding the experiences in the real estate business can boost your following and make you stand out from the competition.