Category Archives: Finding Property

Farming For Real Estate – How To Effectively Use A Blog To Market To Your Farm In Real Estate

If you have been farming an area with traditional methods you have probably been trying to service an area of two to three hundred homes. You probably send direct mail pieces several times a year, offering a free home evaluation or other marketing offer. Maybe you even go door to door a few times of year. Most of the people are either not at home or do not answer the door and you leave your card or notepad on their front steps.

Welcome to the new millennium. Farming can now be done using technology that will enable you to reach thousands of homes more easily and efficiently than you could reach just a few hundred previously. One of the very best ways to do this is by starting a farming blog.

A blog is a website that lets you write, or post, as often as you wish, and deliver your message to anyone who has either subscribed to the blog’s feed or who visits the website. With the click of your mouse your message can be in front of the homeowners in your farm at a time that is convenient for them to read what you have written in your post.

It is relatively simple to start a blog. They are available for free from some places or for a fee of less than five dollars each month from others. The blogs that have a monthly or annual fee will generally offer more choices and features than the free blog services. It is up to you and you should experiment with the ones you are considering.

You will want to give your blog a name that has meaning to the people who live in your farm area. Do not use your name unless everyone in the area knows you. It is better to use a name that is relevant to the neighborhood. My farming blog is called Plum Canyon Neighbors. When people receive an email message with this subject line they know that it is important information from me about happenings in their area.

Give blogging a chance as a way to market to your farm. You will find that it is so easy and effective you will be glad that you started one.

How to Generate Real Estate Leads Online

Social Media Marketing

1- Listing properties on social media is very easy. Simply copy the URL of the property listing that you are trying to sell, then past and post it on your personal and/or company Facebook page. This action will result in displaying your property to everyone who liked your page or to those who are in contact with you.

2- Posting regular articles and updates about your business and industry will position you as a reputable real estate agent with great knowledge and authority.

3- Facebook is one of the best sources for lead generation. There are several social media strategies designed to engage and encourage the user to provide his/her contact information through a simple form. This may be fulfilled in exchange for a free home evaluation or a list of foreclosed homes in a particular area.

4- Social Media marketing provide advertisers with the tools and options to target users both geographically and demographically as well as by interest. Social media marketing campaigns when designed and implemented properly can result in providing a large number of leads at an affordable cost.

5- Twitter is another alternative mode of Social Media for advertising. What is significant about it is that it cost considerably lower than Facebook.

6- LinkedIn is the best social media platform for business networking. Building a network on LinkedIn can help you generate solid leads. As they say “Your network is your net worth”.

Video

1- Creating and posting client video testimonials stating your expertise, achievements, why should people do business with you rather than with your competitors, and informative real estate tips, can have a tremendous positive impact on increasing the chances of those visiting your webpage to reach out to you.

2- Once you have created a video clip or more you can use the videos to advertise on Google’s display network which includes YouTube and Facebook video ads. Those video clips can also be shared and promoted on several social media networks.

Blogging

1- Nowadays knowing how to write a good blog has become a very important part of any online marketing solutions and real estate leads. blogs have been proven to be effective in generating leads. It is advisable to create and maintain a blog. Posting at least one blog per month is a must to secure its effectiveness. Blogs provide you with the opportunity to appear on more relevant real estate search terms and provide your current and potential clients with helpful information that will ultimately increase their loyalty and trust.

Real Estate SEO

1- SEO is the ability to optimize a real estate website to appear on the top ten search results for relevant real estate keywords, such as “Real Estate Agent in Montreal” and “Homes for Sale in Laval”. Make sure that the title, headlines, and content of your website includes relevant real estate keywords.

2- A Good SEO practice is to constantly build links to your website; you can do that by hiring an SEO agency or make time every week to work on getting quality websites link to yours preferably related to the real estate industry.

Real Estate Web Design Layout and Features

  1. When you give away your business cards to potential clients they are more likely to visit your website before they even consider calling or sending you an email. Therefore it is crucial that your Real Estate Web Design is professionally designed and clearly presents the properties being advertised for sale as well as the value you provide to your customers. Your real estate agent website should be easy to use with a visible menu to help users navigate the site.
  2. It should have several lead capture forms on most if not all pages preferably with different call to action.
  3. Let your potential clients know that you have tremendous experience selling real estate properties in their cities or areas.
  4. Write an interesting meet the team page comprised of fun and creative paragraph about each member in your team. Make sure to deliver a strong message that you and your team are capable of helping your client buy or sell real estate while making the entire experience easy and enjoyable.
  5. If the majority of your business comes from certain communities make sure you list any community work you have done in these communities.

Pay Per Click Marketing

  1. Google AdWords and Pay Per Click advertising provide real estate agents and agencies with the opportunity to display ads on any relevant search term, providing exposure for your properties with while keeping you up front and centered for significant prospects. The advertising budget can be set to a daily cap and the ads can be targeted by cities, even area and postal codes.
  2. Support your PPC campaigns with personalized effective PPC landing pages.

The Evolution of Property Manager Software

Properties include immovable assets such as buildings, apartments, houses, shopping malls, and theater complexes that can be rented out either for residential or commercial purposes. In the last couple of decades, real estate industry has witnessed growth that was never seen earlier. However, the growth was limited only to properties that were well-maintained and properly managed. Hence, it is clearly evident that property management is extremely important to gain maximum value for your assets.

Property management involves handling issues such as renting out properties, communicating with tenants, rental payments, and aspects related to building maintenance and installation. For an individual or a management firm, managing all these issues on a routine basis can be frustrating and cumbersome. The best way avoiding any such discomfort is to sign up for any online property manager software that enables users manage their property portfolios efficiently, thereby saving ample amount of time, money and energy.

When they were developed initially, first-generation property management software were originally based on DOS platform. One disadvantage of these systems was that users found these systems extremely difficult to use, could be used only for accounting purpose, and were inflexible. Also, the software was not compatible with standard hardware and software components available in the market. Users even had to compromise on data storage as they had limited storage facility. Property investors even found it difficult to import and export data across systems.

As the technology evolved, the software also experienced phenomenal changes. Second-generation property manager software, which was based either on Windows-OS or Linux-OS, came into the market equipped with better features and enhanced capabilities so as to provide better property managing experience to users. These programs were easy to install, convenient to use and promised increased functionality. Also, they allowed customers to customize their applications and arrange data as per their needs and requirements. It was now possible to integrate diverse components and different modules into one system, thereby allowing the software to provide solutions to every major aspect related to property management including accounting, marketing, managing tenants and lease issues, maintenance, financial management, and communication. However, one disadvantage with these systems was that they were expensive. Users had to buy the software from the manufacturer and have them installed in their systems. Many times, users even had to upgrade their systems so as to make them compatible with the software.

With the advent of advanced concepts such as internet and e-commerce, the software has further evolved so as to support these concepts. Now, property management solution providers are developing property manager software based on a special platform called ASP (Application Service Provider) so as to integrate them with the web and can be accessed anywhere anytime in the world. When compared with traditional programs, web-based programs are advantageous in many ways. These are extremely flexible and provide users with unlimited data storage space. These programs are user-friendly, have broad compatibility and are easy to maintain. Since they are web-integrated, users can have access to real-time information, thereby allowing consumers to respond quickly according to market fluctuations and gain maximum profits. In addition to these benefits, web-based programs are extremely cost-effective and allow users have complete control over their properties.

The entire objective of any software is to integrate technology with the day-to-day processes of life, thereby facilitating users define their tasks and successfully achieve their objectives along with optimal utilization of resources. In this regard, property manager software is an exact fit as it helps property managers plan, organize and handle multiple tasks related to their properties in an efficient and effective manner. At present, there are many types of property manager software available in the market. However, one should employ bit of care while choosing the right one. There are many useful resources available on the internet providing valuable tips on how to choose good property manager software.

Wholesaling Real Estate In Six Easy Daily Checklists

We ran the largest real estate wholesaling business in the world wholesaling properties to investors in 280 US markets and the entire wholesaling process can be broken down into 6 easy to implement daily checklists. Here they are in order of importance and, coincidentally, the order you should work them each day.

First, you need to remind yourself daily the direction you are heading in and what you want to achieve. Stephen Covey says, “begin with the end in mind,” and so we want to review our goals, empowering daily questions and affirmations first. It should only take 5 or 10 minutes but it sets the tone for the entire day and is a critical, often overlooked, first step.

Second, and this is a big one, you need to take care of all your marketing. When wholesaling real estate you need to focus on marketing in a few major categories: buying (or controlling properties), selling (and building your buyers list) and hiring help.

For the marketing for buying properties you’ll be taking actions that get sellers calling you with the properties they have for sale. Easy things like using Craigslist effectively can produce a steady flow of wholesale deals.

You can also rely heavily on Craigslist when marketing to sell properties that you have control of and to grow and strengthen your buyers list. However, there are some highly effective, low cost direct mail methods of finding the most serious, active buyers that are buying deals just like the ones you control and are trying to wholesale too.

One of the easiest things to do to automate your wholesaling business is to find help that costs you nothing up front and that is only paid when you close a deal. Posting just one or two ads per week to find researchers and bird dogs can bring you a flood of deals and investor buyers that puts you in the position of sifting and sorting which sellers and investors you work with.

The third daily checklist is working with your seller inquiries through the entire buying process from the initial call back, through the research phase, to making offers and following up all the way through you collecting your wholesaler fee when you release control of the property to your buyer.

The fourth daily checklist is working with your buyers (both retail and investor). One of the great appeals to wholesaling is being able to rely heavily on the work you’ve done in the past with your existing buyers list. Growing your buyers list in number and strengthening your relationship with your buyers list are worthwhile daily activities.

The fifth daily checklist is where you work with your other real estate dream team members. Here’s where you focus on working with your title company, hard money lender, real estate agents, mortgage brokers and more. A strong team can make even the weakest leader successful so focus on getting the strongest team possible and let them do their best. If the transaction is paying for the dream team member why not work with the best?

The sixth and final checklist is the business management checklist where you take care of all the business management activities like accounting, business entity maintenance, asset protection and backing up important data.

By following these six proven to work checklists consistently will have you growing a successful real estate wholesaling business.

Tips on Marketing a Luxury Home

When thinking of luxury real estate you can expect to pay more than five hundred thousand dollars for a home. With the economic recession behind us, the market for luxury homes is booming once again. The market is now getting the benefit of the rising income levels of people along with their desire to own a lavish, grand residential space. It is just as easy to sell a luxury home as it is one that is affordable to those without a lavish income. The market will basically targets the individuals with high net worth that also has big cash reserves and is looking for high quality living and potential investment options. These luxury properties are usually found in an up-market locality where the residents can enjoy a lifestyle that is world-class and has ultra-modern amenities.

One thing to note is that the prices of a luxury home can be very volatile. At one time, they can be at their peak when the demand is at the highest point and then it can drop substantially where you have no buyers in the market for luxury real estate.

There are many different ways in which you can market a luxury home. One way that is very important is that you will need to advertise aggressively. You should use mediums of advertising like radio, the internet, newspapers, and television effectively to attract potential buyers. You can also use billboard and pamphlets as a means of advertising in order to draw the attention of potential buyers. In your advertisements, make sure that you highlight the specifications, layout of the home, the location, and the facilities to generate more curiosity.

You can also organize seminars and exhibitions where you can showcase the luxury properties that are available to the buyers. Ask the sales representatives to interact with them personally and be able to solve your buyer’s queries. Convince them how investing in the properties will be in the long term advantageous to them.

Make sure that you can assure your potential buyers that they will have legal clearance on the homes they are considering purchasing. No buyer wants to spend millions, or even hundreds of thousands of dollars on a luxury home only to find that there is some form of legal trouble related to the property.

You can also hire a brand ambassador, who could be a celebrity that works in some of your commercials that is helping to promote the luxury properties you are trying to find a potential buyer for. Make sure you promote the luxury home throughout the world as a potential buyer can come from anywhere.

The MEFPAP Of Selling Homes

Effectively selling homes, and representing one’s clients (homeowners), is an essential component, of serving, as a quality, professional real estate agent! Many factors should be evaluated, carefully, and thoroughly, in order to determine, the best approach, for a specific property. After over a decade, as a Real Estate Licensed Salesperson, in the State of New York, I have simplified, some of these considerations, into, what I refer to, as the, MEFPAP of marketing and selling homes. With that in mind, this article will attempt to briefly review, consider, examine, and discuss, using the mnemonic approach, what this means, represents, and mandates, for responsible, responsive, meaningful representation.

1. Market conditions/ competition: Depending on the specific market conditions, as well as the competition, the best approach, must be focused and adapted, to achieve the best possible results, for one’s client. These factors should help develop the best listing price, as well as how to market, etc, the property, to appeal, to the appropriate, qualified, potential buyers.

2. Economy (overall, and local real estate market): When public confidence is high, more people are ready, willing, and able, to proceed forward, in a smart, logical, effective manner. A combination of a strong economy (both, actually, as well as perceptually), relatively low – interest rates (so, mortgage rates are attractive), and the local area, is a desirable one, benefits the marketing, and sales – potential, of a particular house.

3. Features of a specific home: Objectively, review, consider, and evaluate, the specific features of a home, and consider, what might make this particular house, most desirable, for potential, qualified buyers! Pay particular attention to the property (size, shape, location), as well as its curb appeal. Why would someone be drawn to this house, compared to others? Most people pay particular attention, to the kitchen, living rooms, bathrooms, and distinctive characteristics, so compare these, and accentuate the positive!

4. Property and specific location: Is the property, a good balance, between, too large, and not big enough? What about the specific location, is positive, and/ or negative? What potential does this specific property, possess?

5. Agent – friendly: If you want to get the best results, be certain, the house is agent – friendly, and easy, and ready – to – show. One never knows, the ideal time, the best buyer, might be available, and desirous of seeing the house, so, it’s important to make the home, agent – friendly, and focused, on getting the best possible results!

6. Price: The two major issues, are pricing, and location! Only, when a professionally designed and created, Competitive Market Analysis, or CMA, is used properly, to create the Listing Price, will the best scenario, result!

Focusing on getting things done, and effectively using the MEFPAP of selling homes, is the most reliable way, for a real estate agent, to provide, the finest level of service, a client needs, and deserves. Will that be your focus?

Commercial Real Estate Agent Prospecting Facts and Strategies

When you work as a commercial real estate agent or broker, it is essential that you develop and implement a prospecting program to generate new business leads. It is a personal process and it is not something that you can or should delegate.

I am amused sometimes when I hear that an agent has paid considerable money to a marketing company to ‘cold call’ their entire sales territory or market segment looking for leads and prospects to serve. Delegating the prospecting process to a marketing company or another ‘unskilled person’ is a waste of time and money. Commercial real estate is an industry built around personal relationships and trust; a marketing company or employed canvasser cannot offer that level of communication or service.

So why would a real estate agent employ such a ‘marketing firm’ to make prospecting calls? The answer in most cases is glaringly obvious; the agent doesn’t have the skill or the discipline for the prospecting process to be successful.

If you want to win the new business, then you will need to do it yourself. Yes, it takes time to get results and you will need to develop some new skills, but discipline will help you get to the results that you are seeking.

One thing should be said here; commercial real estate brokerage is tremendously rewarding for the sales people that can work hard and to a system or plan. Looking for leads and opportunities is part of the process or game. It’s a personal thing and it can’t be delegated.

Here are some way’s to find new business, better property listings, and good clients:

  • Redundant Properties – Some properties will move to a level of redundancy due to age, deterioration, change of zoning, or lack of tenants. When this happens it is time to move to the next phase of the property ‘lifecycle’. A good real estate agent can see the signs early and work closely with a property owner as they start to deal with the issue of investment change.
  • Vacant Land – As a city expands or suburbs change, vacant land will be rezoned for new development. Keep ahead of this opportunity by monitoring the planning and development applications at your local planning approvals office. Get copies of the public minutes of the planning committee meetings.
  • Old Listings – Some listings don’t sell or lease at the first attempt. What you can do here is withdraw the property from the market today and then revisit the property marketing effort a few months later in another and perhaps different marketing approach. Refreshing a listing is a valuable business process.
  • Open Listings – The best way to sell or lease a property is through an exclusive listing process. Open listings are very much a process of luck; most open listings stay on the market for a very long time and on average are far less successful when compared to the dedicated marketing efforts of an exclusive listing. Revisit old open listings to see if they can be optimised for a fresh marketing effort.
  • Larger Businesses – Local businesses are involved in property either as tenants or as owner occupiers. Business owners will need help with property from time to time. The best way to tap into that opportunity is through direct and ongoing contact. Cold call every business in your town or city and speak to them regularly about property needs and changes.
  • Surrounding Other Listings – When a competing agent puts a property on the market, you can use that listing as a reason to talk to all adjacent and nearby business and property owners. One property listing can be the catalyst to talk to others to see if they would like to compete or do something themselves.
  • Street Canvass – On a street by street basis, systematically move through your sales territory and research all property owners. Eventually you will create a good list of owners for your database. Ongoing contact will allow you to build valuable client relationships and the levels of trust that help grow commissions and listings.
  • Cold Calling – The telephone remains the most effective business tool that we have. Direct calls handled in a professional way will help you reach out to new people. Selectively researching the property owners and business people in your area will support the cold calling process.

A simple list like this will give you an abundance of property leads and opportunities. The secret to making things work for you is in doing it yourself.

Understanding Property Curbs

‘Property curbs’ is nowadays a very frequently heard term in wealth management space. Nations across Asia, such as China, Indonesia, Hong Kong and Singapore have implemented property curbs in the recent years. Property curbs can be defined as property policies set by the governments to curb excessive increase in property prices. Property curbs are also called as property tightening or cooling measures. The policies generally target the residential sector. An excessive increase in home prices can lead to property bubble and make housing unaffordable and out of reach for a wide section of population. When property bubble bursts, it generally has far reaching consequences on the economy. This is because the linkages between banking sector and property sector are usually strong, in the form of mortgage lending to home buyers and project lending or construction loans to developers.

Property tightening measures can be demand side measures or supply side measures. Demand side measures are targeted at decreasing speculative/investment demand, in order to soften the prices. Some of the measures include i) decreasing the availability of funding, ii) increasing the cost of loans, iii) increasing the down payment on loans, iv) rising taxes such as property tax or capital gains tax, and iv) tightening eligibility criteria for home purchase. Funding availability can be tightened by not providing loans/mortgages for second or third home purchases. Further, even if loans are sanctioned, the initial down payment can be higher and interest rates can be higher. For example, the minimum down payment on first home mortgage is 30% in China, while that on second home mortgage is 60% (70% in tier-1 cities such as Beijing). Capital gain tax hike impacts second-hand/secondary home market and controls speculative demand. An extreme form of curbs is to prevent a whole section of population from purchasing property. Non-locals (within a particular city or country) may be barred from buying property. Hong Kong in October 2012 levied a 15% tax on property purchases made by foreigners. Supply side measures aim to increase the supply of homes in order to control price gains. Some of these measures are i) increasing land supply/availability for property development, ii) government developing affordable homes for lower income population, and iii) imposing hefty fine/penalty on land hoarding (keeping land idle for long time).

Whether property curbs are effective is the question. China introduced property curbs in 2010 and has been able to avoid a property market crash till now. Hong Kong implemented curbs in 2012, while Singapore and Indonesia imposed them in 2013. When price rise is due to shortage of land and housing, like in the case of Hong Kong, demand side policies may not be effective, unless they are stricter policies such as banning certain population from purchasing home. Compared to demand side measures, supply side measures take longer time to have any impact on the property markets. Property acts as an investment or storage of wealth, when household savings rate is high, deposit rates are low and there is a lack of investment channels. In such a scenario, measures tightening the mortgage market may not have a significant impact, as home buyers fund purchases out of their savings and do not depend on mortgages. Other measures such as allowing alternative investment options may divert investment away from property and contain investment demand.

Real estate asset class provides investment opportunities to investors. However, investors should consult financial advisors in order to better understand the regulatory environment in different markets, assess the various risks associated with them and invest accordingly.

Internet Marketing Your Investment Property

So you’ve made the decision to make additional income by flipping or wholesaling investment real estate, and you’ve acquired the property following a profit formula. What is your plan to market the property to find a buyer?

The percentage of homes purchased by people looking online can’t be ignored. From the National Association of REALTORS (NAR): according to the latest NAR Profile of Home Buyers and Sellers 2009, 90 percent of buyers used the internet as an information source in their home search. With figures like this, doesn’t it make sense to have a planned internet marketing strategy?

Real Estate Related Websites

One of the best sources to find buyers for retail home owners and investment buyers is Craigslist. With a reported 59 million visitors in May 2010, Craigslist (CL) is a great site to promote your property and drive traffic to your business – and it’s free.

Using CL is one of the simplest ways to start an online marketing campaign. I’ve received most inquires and built our buyers list from CL ads over the years.

After you’ve posted your property on CL, post the same property on other online real estate related websites. They are mostly free, requiring you to only fill out an online form for your information. The great thing about some of these other websites is that they automatically post your property on other real estate or “for sale” websites.

Some of my favorite sites are Postlets.com, Houspads.com, Loopnet.com, MyHouseDeals.com and Sellpoint.com.

Video Marketing

Make a video of your property. Video marketing is one of the most popular ways to get your property seen by retail buyers and investors. A good video only has to be about two minutes long. The most important part, if it’s an investment property, is to show how the financial numbers look, the investor’s monthly cash flow. Also, in your videos, remember to always give your viewers a “call to action” at the end, by going to a website, filling out a form, etc.

Start your own YouTube page – also free, and start posting your videos there. YouTube will give you a place to where you can send people to see the properties in your ads.

Article Marketing Site or Blog Site

Have a blog site or article website where you can post articles on various subjects in real estate and draw buyers/investors to you. If you have a blog site already, update your articles on a consistent basis. It can be once a week, once every two weeks, but as long as you’re adding new material, real estate buyers searching for information will find you.

If you don’t have a blog site, sign up for a free account on Squidoo.com. Squidoo allows the user to create a “lens” of a particular subject. Make a lens of your property using the wording from you CL ad and you can also embed the video that you have on YouTube for readers to watch your video all on one site.

Social Media

Hopefully by now you have a Facebook account. Yes, you can use FB to keep in touch with friends and relatives, but you can also build it to use FB as a way to promote your real estate properties. I’ve written an article on how to start using Facebook as a marketing tool. Check it out: “Facebook Internet Marketing for Newbies”.

With consistent promotion and updating, potential buyers/investors will funnel down to your website or final property page from these various sources.

There are other aspects to internet marketing, such as SEO and keyword use that will be covered in other articles or you can research the importance of their uses yourself.

But also remember, that face-to-face networking, is marketing that should always continue and not be forgotten in this internet marketing world.

Learn Internet Marketing

Commercial Real Estate Valuation 2

The approaches used to value real estate from an appraisal perspective determines the possible sale price a property would yield on the open market with adequate time for marketing by a knowledgeable seller who is not under duress, fully informed of market conditions and a knowledgeable buyer agreeable to consummate the purchase also without undue duress to act. The range of values derived from the methodologies used and the final conclusion after implementing adjustments for different variables represents processes used to determine the market value of subject property under specific conditions and at a specific time. Changes in the variables e.g. vacancy factor, comparable sales, depreciation for economic or functional obsolescence, etc invariable alters the values derived from the processes and the obtained conclusion. The three methods used for finding a range of property values from which the final conclusive worth is attained are the: – Income Approach, Cost Approach and Comparable Sales Approach. Each has its own process for calculating a property’s value and is given varying worth or relevancy in the final value attributed to the realty.

Income Approach – establishes the value of real estate as a derivative of its net operating income in relationship to the prevailing capitalization rate associated with the asset class in its submarket. The Net Operating Income (NOI) representing the amount after gross income drilled down through effective income added miscellaneous income, etc minus expenses associated with operating the property. The value calculated from this approach is deemed more indicative of the true worth of the property by some practitioners in comparison to the other two approaches below from an investment perspective.

Cost Approach – establishes the value of real estate calculating the current worth to recreate improvements at cost minus depreciation for functional and economical obsolescence; the underlying land is not depreciable. Technological advancements, procedural changes, more adaptable efficient materials, user friendly space layout plus industry changes and the desires of the end user, etc can diminish the appeal of once highly sought buildings or leasable space in relation to newer inventory. This results in a lesser market value being assigned to the property factoring its reduced appeal to a broad base market.

Comparable Sales Approach – establishes the value of real estate from the historic sales of similar properties in the submarket with adjustments for dissimilar characteristics with these properties; assigning values for these features or lack thereof and adding or subtracting dollar amounts reflective of the increase or decrease in value attributed. This process draws its data from the sales activity in the market place and the historical purchases/sales of properties of the same CRE type, e.g. multifamily, retail, industrial, etc that have sold under arms’ length transactions including financing structure which does not suppress the sale price.

The collective information obtained from each approach is analyzed with weight given to respective methods depending on the nature of the subject property, the quality of the data available for the approach and the purpose of assigning value. The nature of the subject property influences the method which is considered most applicable to determining value, e.g., is the property vacant land, stalled mixed use development, operational hotel, etc. However, from an investor’s perspective the income approach is usually given more consideration than the other two in relationship to commercial real estate income producing or potentially income producing properties. Even land’s value is tied to its use or potential use mobilized through zoning and entitlement and the income stream that can be attained from the improvements added. The final value given to the property factors all the variables applicable to the realty and the experience of the individual drawing the conclusion of property value.