Real Estate - real estate agent

Christine Harrell asked:




As the world becomes increasingly more crowded and the cost of living rises, the idea a relaxing retirement may seem more like a dream than a realistic goal. However, there are still pockets of beachfront property available in Mexico’s Costa Maya region at a fraction of the cost of property in the US. Today, many retirees and self employed individuals have decided to stretch their dollar in this Caribbean paradise while also making a smart and profitable real estate investment. Here you’ll find a guide for foreign real estate investing in the Costa Maya region of Mexico.

Look for Recently Revitalized Areas

The best real estate deals are often those in places of natural beauty that have recently undergone a massive revitalization or beautification project. There so many areas of pristine coastline around the world often overlooked because they haven’t yet been rejuvenated to meet the tastes of those wishing to retire in tropical luxury.

Areas that have recently undergone government funded revitalization projects often remain off the radar of the real estate investment masses, and are great places to look for serious investment deals.

The Costa Maya project is the newest in a series of revitalization projects initiated by the Mexican government to increase the value of Costa Maya real estate. Previous projects included the rejuvenation of Acapulco and Cancun, both of which have proven extremely profitable in terms of real estate investment.

Seek out Areas with Emotional Appeal

Foreign real estate investments are usually most profitable in areas rich with emotional appeal and natural beauty. As the world becomes a more crowded place, areas of natural beauty that ignite a sense of freedom and peacefulness will continue to diminish.

As cities grow and sprawl, the remaining natural havens continue to increase in value. Costa Maya, a 57 mile strip along the Caribbean Sea, is rich with picturesque tropical natural beauty. Its deep blue skies, crystal clear oceans, and white sandy beaches remain raw and natural sanctuary just south of the tourist driven area of Cancun.

Much of the tropical real estate for sale in the Costa Maya region is just now available for development. New property owners are free to develop homes that compliment the laid back, tranquil, Caribbean lifestyle to further increase the land’s property value. A villa style home, just feet from the gently lapping Caribbean Sea will continue to increase in value as the rest of the world becomes increasingly more stressful and overpopulated.

Government Friendly Property Ownership Laws

Buying property in any foreign country requires a great deal of research and the assistance of an estate agent or local attorney. The laws of some countries are safer and friendlier to foreign buyers than others, and each has its own set of requirements for ownership.

The Mexican government offers property ownership opportunities that are friendly for foreign investors. As an adaptation to a historic law written to prevent Mexico from foreign invasion, investors are required to set up their own Mexican corporation. The property owner’s corporation technically owns the title to the land, protecting it within the laws of the country. Some property agencies have used this law as a lucrative source of revenue, charging buyers additional fees to set up corporations. To avoid this, look for property agents who offer help setting up corporations, trusts, and other legalities at no additional cost.

Governments set their own property use standards such soil regulations, zoning laws, etc. It’s important to look for a reputable property agent that guarantees the property is buildable according to the local and federal government regulations. You should be entitled to either a full refund to have the property brought up to compliance by the agent should your property be deemed not suitable according to government regulations.

Buying a tropical home in a foreign country is a very real opportunity. Those with a sense of adventure and the desire to live out their dreams can easily purchase their dream home in the setting they desire most while making a lucrative investment in their and their families future.

Shawn

Karley asked:


Im 22 and wanting to start my career journey. I am currently working in sales but have recently realized that the real estate market would be a much better fit for my life. I am outgoing, organized, and great with people. Im just not sure the steps that I need to take. Would appreciate any suggestions or knowledge you may share. If there are any local real estate companies looking to take on an intern please let me know, the more experience I can get, the better! Thank You.

Jamie

Sweetaries41 asked:


I already have my real estate license and majoring in Global Business Management. So I was wanting to know what other things I needed to do.

Phyllis

Leanne Hoagland-Smith asked:




Sales goals are just as important in real estate as they are in any other business. Successful goal achievement begins with using valid criteria and understanding the linkage between sales goals and strategic planning.

Within your strategic plan for your real estate business, there should be a sales plan. This plan centers around specific sales goals to secure the result of converting those who have received your marketing message to an actual selling or listing client.

After establishing specific goals, then your challenge is to monitor these goals to ensure achievement. If you are new to this industry, it may take 6 months before the first sale. HINT: Use the W.H.Y. S.M.A.R.T. criteria for goal setting.

Many real estate agents have goals, but very few have integrated specific goal setting criteria into their goal planning, goal setting and goal achievement process. The S.M.A.R.T. criteria:

Specific Measurable Attainable Realistically Set High Target Date/Time Driven

are not new, but unfortunately, still not utilized as much as they should be.

One of the reasons for this is because the What’s In It For Me (WIIFM) or the W.H.Y. has not been included. All goals should be committed to Writing. When sales goals are written down, the intangible thought now has some substance and becomes more real. The paper can be not only actually seen, but also touched. Suddenly, the sales goal appears to be more concrete than just a wish or a dream.

Additionally, goal planning, setting and achievement is a process that should become a Habit of behavior. Weekly written grocery lists or the daily “to do” lists are habits that improve performance. Planning, setting and executing sales goals should become a habit that is consistently demonstrated on a weekly, monthly and yearly basis.

Finally, goals need to be Yours. Achieving goals for someone else usually are not successful because of the WIIFM. When the business sales goals can be translated into your specific goals, then you have greater ownership of the goals.

When the W.H.Y. S.M.A.R.T. criteria are infused into sales goals, successful goal achievement has been greatly increased. For example, using the industry average of 6% commission rate with 3% going to the listing broker and 3% going to the selling broker, the typical real estate agent averages 1.5% commission unless she or he listed and sold the property. If the sales goal is to earn $20,000 the first year, this means that the agent must achieve listings or sales of over $1.3 million. By the second year, the goal may have been increased to an income of $30,000 which translates into listings or sales of $2.0 million. By having the marketing research, the sales plan is data and market driven. Consequently, the agent can determine how many homes he or she needs to list or sell based upon the $1.3 or $2.0 million.

Sales goals are directly tied to the market plan within the strategic plan. Without goals, the real estate agent is embracing what I call the “spray and pray”sales technique.

Spray your sales efforts on the wall and pray that they will stick giving you a sale.

P.S. Read 7 Tips to Real Estate Agent’s Success: Tip #3 - Research Your Market Plan

Roy

ppmaggoo asked:


I would like to futher my education in college with a base in business b/c I hope and plan to own a business one day. I have always been interested in Real Estate and I love architecture, design, traveling etc and enjoy working with people. What route should I take if I want to go to college but at the same time I know I dont need college to become a real estate agent. AND are their other professions dealing with real estate that in fact need a higher education to qualify for those jobs?

Marie

taylorsonline asked:


I am fairly new iin this real estate game and my capital is limited. I Need new leads and any advise is welcome. I live in an area where prices are cheeper than most and we do not have a state income tax.

Laurie

031708140503 asked:


What exactly do real estate agents do?

George

Terry Gardner asked:




If you’re interested in learning how to become a real estate developer, you’re not alone. This field has been so hot over the past few decades that even some of America’s most notable universities have begun to offer master’s degrees pertaining to it. From Columbia and Emory to the University of Michigan, real estate development has garnered its own school of learning.

Getting into this field in today’s market can be a little tricky, but it is still attainable. A lot will depend on where exactly you would like to work in real estate development. An actual developer is a person or entity that buys real estate with the idea of adding value to it prior to a sale or lease. This means not only finding and holding land, but also overseeing the construction of buildings on the property.

While many people learn to become real estate developers, few actually front the cash behind the buys. They, instead, work for firms that do. If this appeals to you, these tips can help you break into the field:

Examine your interests closely - Real estate developers actually have a need for a variety of specialties. Not only are skilled buyers required, but so too are those who represent a host of other trades. A development firm, for example, will also require the services of accountants, clerical workers, geologists, lawyers, negotiators, architects and so on. Sometimes a real estate developer directly hires people from these professions to work on personal staff. In other cases, they receive subcontract work. Considering the variety of jobs available that are related to real estate development, it pays to examine your interests and pursue the area that best fits your skill set. Pursue the proper training - If you want to be the man or woman who actually finds and buys real estate for commercial, residential or industrial development, you might want to consider a bachelor’s or master’s degree in the field. Related field degrees are also useful. Get financial backing - If it’s your notion to become a developer personally, you will need financial backing to do so. If you’re independently wealthy, you’re on the right path. Otherwise, you will need investors or bank backing. Seek out jobs - Should it be your desire to learn how to become a real estate developer and work for others, you’ll need to scour the market for jobs. Look online and in trade publications for the most updated listings.

Deborah

Patti Porter asked:




Do you need a real estate development business plan? You will if you want to obtain financing for your project. The first thing any lender or private investor will want to see is your real estate development business plan. This plan is specific for development of real estate. Your business plan will tell your story in an organized and concise manner. It will provide all of the critical information needed to judge your project. A well-written and professional looking business plan is crucial for your success in obtaining financing.

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.

Executive Summary

The Executive Summary should provide a complete overview of your project & company. This will include:

Brief description of the overall project. For example, develop a 4 star, 250 room luxury hotel in downtown St. Louis, Missouri. Brief overview of the company - Is it a corporation, LLC, etc? Who are the owners and/or board members? Brief company history & experience level. Brief summary of the market & demand.How large is the market and at what stage of development is the market currently in? Brief summary of the competition and what separates you from them? Brief description of key Management team members. Key financials - total acquisition & construction costs, nature & use of funds, future revenue & expenses.

The Executive Summary should be brief and an outline to your overall business plan. Now lets take a look at the specifics in the real estate development business plan.

The Company

This part of the business plan should give full details about how and when the company was formed. It should indicate the legal structure of the company, as well as where it is licensed. A key piece of information about the company is the company owners. Name all of the principals and their percentage of ownership.

Project Description

This section of the plan is where you explain your project in detail. Remember, you are selling your project so that you can get the funding you need! Is this a hotel development project? Is this a luxury, single-family home community project? Is this a multi-tenant shopping center? Give all the details about the project. For instance, lets continue with our hotel example. You will want to name the other amenities that will be located at the hotel, such as swimming pool, tennis courts, the number of conference rooms, etc. How many of the rooms will be suites? What other features & benefits will your project have?

You will also want to address where you currently are in the project. Has the land been purchased or optioned? Where are you in the permitting process? Has the architecture plans been drawn? How much time & capital has been spent on your project to date?

The Market

In this section you will provide the market type & size, current & potential growth rate, and relative stage of development of the area. You should also address why you chose this particular area. You should discuss any forthcoming changes in the market, government regulations, economy, and short-term & long-term trends. If you have performed any feasibility studies, you will want to include it as well as the source of the feasibility study.

The Marketing Plan

The main objective of any developer is to sell the homes, the stores or the hotel. And this can only be accomplished with a well thought out marketing plan. Who will handle your sales efforts? Will they be in-house or out-sourced? How will the pricing/leasing/room rate be determined? Will there be any brand or strategic partnerships involved? What is your marketing budget (in a table format).

The Competition

Any lender or investor in your project will want to feel comfortable that you know who your major competitors are. They will want to know that you have done a thorough competitive analysis. Name and describe all key competitors. What are their strengths & weaknesses? How will your project compare? What are your projects strengths & weaknesses?

The Management Team

In this section, you will want to go into further detail about the principals involved. You will need to highlight the team’s relevant experience and previous successful projects?

Well what if this is your first project?

Then you want to make sure that you have an excellent support team in place. These team members should have the experience that you are lacking (team members doesn’t necessarily mean company ownership). These team members can be legal, accounting, construction, architecture, etc. So for this section of the real estate development business plan, you will want to include:

Resumes/biographies on all principals & management team members Organizational chart Board of Directors
The Financials

Since the primary objective of your business plan is to obtain financing, you will want to address what type of financing you are seeking and how much capital is needed. You will want to state how much money you have on hand (and where did you get it from) and how much money you have spent to date.

Everything that you have put into your real estate development business plan up to now should support your financial assumptions and projections. You will want to include a statement that shows a breakdown of construction and acquisition costs. You will want to include an Income statement that will outline income and expenses for the next five years after construction. It should follow GAAP (Generally Accepted Accounting Principles) and contain specific revenue & expense categories. You will want to include a Balance Sheet and Cash Flow Analysis.

Now that you know what to include in your real estate development business plan, make sure that your business plan presents itself in a professional manner.

Use a table of contents, with numbered pages. Make sure that the writing style is simple and conversational. Don’t use long or complex sentences. Paragraphs should be short & simple. Use graphics & pictures but don’t get carried away. Use charts & tables to back up your data. State all sources of your data and studies. Proofread your real estate development business plan for grammatical and spelling errors. Have someone else proofread it for you. If you have the resources, hire a professional business plan writer.

Lee

E. Lee Reid asked:




Precisely how does a buyer or seller know when a real estate market most favors buyers or sellers? No buyer wants to pay too much and no seller wants to leave money on the table by pricing too low. The answer is in knowing the market absorption rates.

Property absorption rates in any local real estate market are usually considered the best indicators of whether that market is a sellers’ market, a buyers’ market, or a neutral market. The market is the market and favors no one. But knowing the current real estate market cycle is essential for success as either a buyer or seller.

Sellers’ Market - Absorption Rates 1-4;

Neutral Market - Absorption Rates 5-6;

Buyers’ Market - Absorption Rates greater than 7

The easy-to-understand process of calculating absorption rates for local markets will be helpful to anyone trying to figure out the current real estate cycle and how to formulate a winning buying or selling strategy.

For instance, assume there are currently 100 Single Family Home Lots for sale in a large, single family home community. Of these, 70 are priced at, or below, $45,000. Last month, assume that 5 lots sold for $45,000 or less. The absorption rate would then be 70 divided by 5 , or 14.0. An absorption rate of 14.0 indicates a strong buyer’s market and, that in an unchanged market, it will take 14 months to sell all the hypothetical 70 existing lots listed at or below $45,000.

This basic analysis can be used with most of property types including building lots, homes, condominiums, or even commercial properties. There must, however, be a high enough number of actual transactions to permit statistical analysis. The fewer the actual number of transactions the less statistically significant will be the results. Also, remember that within very broad but weak markets, narrow market segments may be showing non-typical strength.

Market absorption is a very useful tool for anyone trying to best determine how to price their property and what the current market says is a reasonable time period for a sale to be concluded. The absorption rate analysis also helps buyers in that in a buyer’s market a low purchase offer is often a winning strategy.

Franklin