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Commercial Real Estate Property

What Are 10 Skills Realtor Need To Improve In Real Estate Profession For Life Time

What Are The10 Skills Realtor Need To Improve In Real Estate Profession For Life Time?

https://shezglobalrealty.blogspot.com/2019/03/10skills-Realtor-Improve-Life.html
10 Realtos Skills

 

10 Skills Realtor Need To Improve In Real Estate Profession For Life Time

In modern real estate where realty business is a profit generating business for many people and organizations. Realtors require professional qualifications and expertises to work in the industry. Today we are here to discuss the 10 realtor skills on workplace to become a successful professional in the real estate business

Research

Research is the part and parcel of the every business. In professional life every individual need to research on business or profession. In realty business professionals need to research on real estate business, commercial and residential properties to understand the nature of project in term of areas, markets and prices of different listings. Research on the market is important because it helps a professional to explain the complete picture of realty listings for customers and investors.  

Organizational Planning

Organization planning includes the daily routine work within the office. If as a professional you are responsible to manage the office of the realty you need to manage things. It includes different departments i.e. Accounts, HR, Marketing, IT,Social Media and publication related to properties.

Confidence and Persistence 

Confidence and persistence is very important to face customers and investors on the workplace. It is a personal expertise which achieve with knowledge and practice. More and more information and study helps to gain confidence in real estate work. Whereas, Interaction with customers and knowledge of listings or knowledge of the field helps a professional to gain confidence. Real estate is not an easy job. However, It’s a profitable business but it takes time to get success.It is very important for realtors or brokers to be a persistent on workplace to get a success.

Computer Knowledge

Computer knowledge includes the usage of Microsoft Words, Spreadsheets, Power Point etc. It also includes the use of social media, i.e. Google, YouTube, Facebook, Instagram, Twitter and Pinterest in modern real estate. Because social media helps realtor to get listing an clients. All form of social media are important to learn in modern world. Moroever, Real estate firms use websites and listing websites to find clients and investors. In this case if a realtor have understanding with computer then its a helpful to get success in real estate business.  

People Skills

It includes the handling of subordinates and work related people inside and outside organization. Moreover, People skills include conversation on phone, emails and face to face. 

Self Discipline

It’s a personal expertise of an individual at work where how an individual behave with other professionals on workplace and outside the organization. Moroever, Self discipline includes the activities of a realtor related on work about his timing in the office and arrangement of listing for clients and customers.  

The Art of Negotiation 

 Skills Real estate dealing or negotiations is an art in the realty industry because of money and high profit involve. Every brokers want to earn profit and where profit involves there people forget the ethics of business. The real estate market is different in different parts of the world and it does not mean ethics are same in all parts of the world. Moreover, As a real estate agent income and number of deals determined the ability to close the deal. Dealing and negotiations are an art and takes time to learn.
Please Read More about “The Art of Negoation Skills”


What is “The Art of Negotiation in Realty”, Basic learning for realtors and customers?

https://shezglobalrealty.blogspot.com/2019/01/the-art-of-dealing-in-real-estate.html

What is “The Art of Negotiation in Realty”, Basic learning for realtors and customers?

https://shezglobalrealty.blogspot.com/2019/01/the-art-of-negotiation-in-realty-basic.html

Interview Techniques 

To learn and expertise of interview techniques is very important for realtors to learn. It requires inside an office for the selection of candidates on workplace and secondly, Deal with customers and investors in beginning to understand “what customers are looking for in term of properties”. There are three kinds of interview techniques are important in the real estate business.  

Emails

It’s an interview where a real estate customer asks about information related to properties. As a realtor you have to ask basic questions about customer choice in term of residential and commercial properties. Realtors need to ask simple questions to attract customer to meet face to face.  

Interview on Phone

 Modern day people inquire about listing on phone rather than go and meet realtors face to face in until convesation. Realtors need to learn the art of interview to attract customers. Realstor Need to provide basic information about property to get clients to meet him face to face.

 Face to Face Interview

Realtor needs to be very friendly with customers when they meet face to face. Here realtors need to explain each and everything about the properties. More and more information about area, property, price and real estate market help realtor to go through with customers. 

Problem Solving

Skills Problem solving skills include dealing, prices and paperwork where customers usually make arguments with realtors. So realtors need to complete all work to avoid such issues on the workplace

Mathematics 

Mathematics includes plus, minuses and percentage.Realtors need to command on maths because customers only understand the language of full figures rather than math in parts. Investors just want to get information of profit and loss in whole numbers. This is where an investor ready to invest in real estate. Moreover, Realtors need to be specific about Return on Investment (ROI) before explaining to investors and real estate customers. 


 

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Commercial Real Estate Property

WHAT ARE THE 5C'S OF CREDIT FOR LOAN,MORTGAGE AND FUND IN REAL ESTATE?

WHAT ARE THE 5C’S OF CREDIT FOR LOAN,MORTGAGE AND FUND IN REAL ESTATE?

 

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5C’s of the credit is a term use in business to get funding from banks and other financial institutions for business purposes. Now these 5C, S also use in the real estate business, especially when someone buys homes, houses, land, shops and flats etc. in commercial or residential properties. The concept of 5C’S is very keen in USA, UK, Canada, Australia, Singapore, Hongkong and Dubai etc. where lenders take serious before offering funds to individuals and companies.

THE 5C’S OF CREDIT STANDS FOR


CHARACTER

CAPACITY

CAPITAL

COLLATORAL

CONDITIONS    


5C’S is the framework used by many traditional lenders to evaluate potential borrowers. In many countries, institutions take these steps very seriously. However, There are not strict guidelines in many countries. Even in online lenders use simple proprietary to determine a borrower’s application for credit by analyzing finances and other data, such as different social media accounts.

1)  CHARACTER; Refers to borrowers reputation for repaying debits


Character  of any individual is very important to descibe himself or herself in front of people or insitituon in every aspect of life.In business “Character” refers to borrowers reputation for repauying debits.Lenders think barrower’s gerneral trustworthiness,credibility and personality in the form of first “W” what is it?


Why? It matters becasue financial institutions want to lend to people who are responsible in deal and keep things to fulfill commitments.
 

H;How it’s assessed?
Lenders assessed borrowers charater from references,repuation and nteraction with lenders.
 

2)  CAPACITY; Measures borrower’s ability to repay a loan


Capacity or cash flow measure borrower’s ability to repay loans and lenders review borrower’s hoistory before decision.

Lenders use What,Why and How to complete this step.

“W”,What it is?  includes the ability to repay loans

“W”,Why it matters? A business must generate enough cash flow to repay the loan. Loans are a form of debt.


“H”,How it’s assessed: History it includes financial metrics and benchmarks (debt and liquidity ratios, cash flow statements), credit score, borrowing and repayment history.


“H”,How to master it? It metters in online and local banking differently.Online some lenders are very open to help finance immediate cash flow gaps.In local banks, pay down previous debt before you apply. Also, calculate your cash flow to understand your starting point before heading to the bank.

3 Capital; Consideration of money put towards investment


The level of capital usually considered by lenders toward investment.It includes amount of money and cridet in business.


“W”,What it is? The amount of money invested by the business owner or management team.


“W”,Why it matters?Becasue  Banks are more willing to lend to those who have invested some of their own money into the venture rather than loans. In most cases lenders are not willing to take on 100% of the financial risk.


“H”,How it’s assessed?  The amount of money the borrower or management team has invested in the business help to assessed.


“H”,How to master it? In many cases 70% of small-business owners use personal savings to start their business.

  

4. COLLATORAL;Secures the loan with the assurance of assets

The assurance of assets need to secure the loans.It includes the recurity,back up sources requires.

“W”,What it is? Assets that can be pledged as security.

“W”,Why it matters? Becasue collateral acts a backup source if the borrower cannot repay a loan.

“H”,How it’s assessed? Hard assets such as real estate and equipment; working capital, such as accounts receivable and inventory; and a borrower’s home that also can be counted as collateral.

“H”,How to master it? By picking the right business structure can help protect your personal assets from being used as collateral if you’re sued or if a lender is trying to collect. Making your company a legal entity will help you mitigate the risk.

  

5. CONDITIONS;Reffers how the buyer intends to use the money


Lenders in almost many cases put conditions to borrowers intends to use the money.


“W”,What it is? The business will use the loan and how that could be affected by economic or industry factors.

“W”,Why it matters?BEcasue  To ensure that loans are repaid, banks want to lend to businesses operating under favorable conditions. They want to identify risks and protect themselves accordingly.

“H”,How it’s assessed: A review of the competitive landscape, supplier and customer relationships, and macroeconomic and industry-specific issues to ensure that risks are identified and mitigated.

“H”,How to master it? You can not control the economy, but you can plan. Although it might seem counterintuitive, apply for a line of credit when your business is strong.

 


Categories
Commercial Real Estate Property

How New York City Realty Progress In 2019?

How New York City Realty Progress In 2019?

https://shezglobalrealty.blogspot.com/2019/04/how-new-york-city-real-estate-progress.html



BackGround Of New York City


New York City is one of the finest city of the United States of America. It is the most populated city also known as international city. New York City has international presence because of many United Nations institutions are operating from this city. It is known as the city of cultural, financial and media capital of the world famous organization includes politics, tourism, entertainments, education, arts, fashion, sports and business. New York City is divided in five boroughs namely Brooklyn, Queens, Manhattan, The Bronx, and Staten Island. New York City is the most diverse city culturally as as there are 800 languages spoken in the city.



New York City Residential Real Estate



New York City is the hub of international activities in different sectors of the life. World the most famous organizations and business operates from New York City. New York is home to the highest number of billionaires of any city in the world. Real Estate is the main industry in many cities. As in New York city real estate is one of the most explosive factor in the city economy. According to different reports of survey New York City is property worth is US$1. 07 trillion.The most expensive property in the city the sales and purchases of of offices. New York City is home to some of the nation’s and the world’s most valuable real estate. 450 Park Avenue was sold on July 2, 2007 for US$510 million, about $1,589 per square foot ($17,104/m²), breaking the barely month-old record for an American office building of $1,476 per square foot ($15,887/m²) set in the June 2007 sale of 660 Madison Avenue.

How To Find Properties In New York City



The advancement of the technology has changed the way to find properties in the world. It is very easy to find properties in new York city. The popular source to find properties in the city is different websites. There are different kinds of websites it includes brokers or realtors websites which operate privately. There are famous websites, namely “Zillow.com”,, “Realtor.com“,” and CityRealty.cometc are the most famous among all. People use these websites to find new properties both residential and commercial.


How New York City Real Estate For Investment



According to the forbes.com,The NYC real estate  just come out from recession and it considers a safer for investment.However,it does not consider the best market for real estate investment at the moments.Moreover,Zillow.com predicted home values in NYC 3.3% in 2017.

What Is The Worth Of New York City Real Estate


The worth of  New York City real estate  is in 1.74 trillion of dollars$$$.




Categories
Commercial Real Estate Property

What Mean By"For Sale By Owner"In Realty?

What Mean By”For Sale By Owner”In Realty?

The Concept Of For Sale By Owner(FSBO) In Realty

In real estate “The process of selling and buying properties without the representation of real estate professionals called FSBO. For Sale By Owner is a common concept in different parts of the world. However, It’s really hard to complete where countries are very key about laws of properties includes taxes. Because every individual is unaware about property laws and procedures. Sale by owner is a tough concept because it takes time to understand and get knowledge of selling.Selling requires expertises and knowledge of the market and ways of marketing to get clients or buyers first and then the knowledge of tax and legal paperwork.However, little mistake in the process of completion can make a big loss for seller or buyers. Moreover, FSBO only helpful for saving money while it’s a time consuming process and bit risky if understanding is not good.

What Tasks FSBO requires to complete the process of sell&buy?

For sale by owner where the owners are willing to sell and buy properties their own needs step by step point to complete the task quickly without wasting time.

1) Knowledge of Property

Owner needs to understand the value of property in the areas where He/SHe want to buy or sale the properties. Knowledge includes the prices of property and people demand. It requires time to get more knowledge of market and it need to research. Realtors and internet i.e. real estate websites and social media iare the best way to find right things. Moreover, Properties taxes and knowledge of transfering the properties is also necessary to understand.

(2) Marketing for FBSO


To sell a property second thing need to do is marketing and advertisement of the product. Marketing is a wide term to market a product. However, For FSBO have limited choices to market their products because marketing need budgets and for individual when they have a single property for do not show willing to spend for such expensive marketing tools. Usually Owner use banner on the property gate for sale and it is a time consuming process because clients do not know about banners.

3) Ways of Marketing Property

i) The Use Of Banner

FSBO only market their property without any cost with the help of banners and it cost few dollars. It is the cheapest way to sell properties however, It takes time or months to sell it.

ii)  The Use Of Newspaper

It’s a bit useful sources of marketing and cheaper to advertise. However, the usage, electronic media and social media makes this medium importance less in modern marketing. Moreover, In the United Kingdom, Australia, Europe, Canada and America where the printing press is still popular people use to read newspapers, magazines and leaflets etc.

iii) Websites For FBSO


Websites are very popular in the modern world and people like to use in different parts of the world.There are many websites specifically for properties buy, sale and rent purposes. i.e. Gumtree, Trovit, Rightmove, Olx, Zameen, Realla, Zillow Redfin, just property, Propertyfinder, DAMAAC, justmovein, Makaan commonfloor, Juwai, Caimeiju etc. are the popular in different parts of the world for marketing. However, all these websites charge for listings. 

(4) Documentation For FBSO

Once an owner or FSBO finds a customer for his/her properties, then the owners need to get deep understanding to complete the paperwork. It includes different kind of properties taxes, transfer charges of properties and allocation of property.