Selling That Luxury Home
Selling That Luxury Home
Blog Article
Most real estate developers make the mistake of not creating a good business plan or even getting professional assistance in developing their business plan. They will use the excuse of not having enough time or they can't find the data. Don't let that be your excuse! All a real estate development business plan really is, is the answers to a bunch of questions! You will learn what to include in your real estate development business plan.
Understand that as a seller you are the broker's employer. The broker also has by law, a fiduciary duty to you and is charged with trying to get you the best possible price and terms for your property.
This is particularly so regarding building plots and land and more recently towards agricultural land. With prices of development land being so expensive and with the planning laws allowing the development of a single house just about everywhere, the public's interest has been diverted with an increasing volume towards agricultural land, where prices have shown increases real estate in Marbella. excess of 30% - 50% over the last year alone.
Some syndicators charge in excess of 10% commission. 10% seems to be the norm but is still high as it has to be made up through asset performance which takes a few years. Also an annual asset management should probably not exceed 0.5% on the asset value or 2% of the cash invested... otherwise it is too rigged towards the syndicator and not the investor. It has to real estate development. be win/win!
3 Read 1 or 2 books that deal with personal development and real estate. Everyone's favorite in Chicago, if not the US, is Rich Dad Poor Dad by Robert Kiyosaki. His benalus marbella book is a great eye opener and helps adjust one's thinking about wealth. For real estate, Keller Williams' The real estate company or service. Estate Millionaire, has interviews and bios of many investors throughout the country.
Hotels and condos - One cannot predict the capability of cash flows, sales prices or rental values from these investments. It represents the worst case of investment. They bring along themselves the risk of reselling.
Network: A Realtor will have a network of associates who will also be showing the house to potential buyers. With an agency, there is a team of professional on your side.
Look for the unique selling proposition of the home and feature it. People love a mystery, the process of discovering something special. Most fine homes have some exceptional features. It is the unexpected that sells them. Do not spoil the surprise by editorializing about it. Just give them a hint. Evoke the participation of the reader with a call to action. That is what makes your phone ring or your email box full. Do not miss out on the opportunity to make a new friend by answering the query. Better yet, show them the home and let them form a bond with it.