Category Archives: House Renovation

10 Property Management Tips

Are you looking for some useful property management tips? If so, you may want to read the following 10 tips from experts in the field. With these tips, managing property will be a lot easier for you. Read on.

Provide Important Information

Make sure your customers and clients have access to the information about the properties. If you really want to get the listing, you should be able to share all the relevant information in an efficient manner.

Be Punctual

You should be committed as far as making arrangements for a meeting or appointment is concerned. Try your best to get to the meeting point at least a few minutes earlier. This is a good way of leaving great impression on your clients.

Presentation

You should be well dressed when seeing your clients. This will encourage your clients to treat you well. Moreover, your dress code will tell a lot about you.

Honesty

You should be honest while providing reports and statistics about your properties. Providing misleading or false information to clients is the best method to destroy your business. What you need to do is find a strategy to deal with the situation and get a solution instead of providing false information.

Marketing

You should market your property in an effective way. The vender may have unrealistically high hopes, but you should be realistic and shouldn’t agree to the price offers without taking the time to think about everything. After all, you don’t want your property to sit vacant for months just because the price tag was too high.

Advertising

Advertising your property is of great importance. Make sure the advertisement is available at the right time. Therefore, you should be ready with a draft on time. Aside from this, it’s better that you get approval from the vender prior to uploading the advertisement on your site.

Photography

Make sure you take some professional photos of the properties and upload them on your site. Ideally, it’s a good idea to take at least 4 pictures of each property. The pictures should be taken from different angles. Putting a few videos along with photos is also a great idea.

Stay in Touch

You should send updates and reports to the property owners on a regular basis. As a matter of fact, maintaining great relationship with your clients pays. Losing a client is easier than gaining a new one. Therefore, you should stay touch with your clients.

Database

You should know your database. Your prospective clients should receive the same level of respect as do your existing clients. Therefore, it’s a good idea to take a look at your list of clients from time to time.

Background checks

Make sure you do background checks on your tenants. What you need to do is do rigorous background checks on the personal information, tenancy history and employment history of your tenants. This is a great way of making sure you are on the safe side.

In short, you should follow these tips if you want to do your property management in the right way.

Real Estate Marketing: 3 Ways Realtors Can Brand A Home For Sale

Executing an effective marketing campaign for your listings can seem like a dreadful undertaking – specifically for newer agents – but it doesn’t have to be. You’ll likely find yourself asking, “How should I present this property to the public? How should I present myself?” The solution to this seemingly beleaguering problem is actually found in this simple answer: there are essentially three ways to brand any listing.

What exactly is a brand? For our purposes, we’ll define a brand as a design strategy associated with a product. The application of the brand to a product or service is called Branding or Brand Management. Through regular branding, the consumer is trained to remember & recognize your product by its direct association with your design scheme. A brand establishes a feeling for a product – a visual connotation of sorts – that is essential for effective marketing.

There are three ways to brand your listings:

1.) Utilize your company brand

A great benefit of hanging your license at a real estate firm is the ability to use its brand to your advantage. Depending on the company, the brand can be a powerful marketing tool because all of the Brand Management has been done for you through years of consistent presence in the market. Therefore, the general public is already familiar with that brand – even if they do not recognize your name – and you should use this to your every advantage. Sotheby’s International Realty, for example, caries such an impressive reputation that you can enjoy the brand’s benefits with little effort, allowing you to do what you do best – selling homes.

2.) Develop & use your personal brand

A second avenue for branding a listing is the creation of your own personal brand as a realtor. Many of the world’s top producers understand this. They have a consistent listing portfolio, they are known in their respective geographical areas & they advertise continuously to their spheres of influence. This is achieved through persistent Brand Management. An agent’s personal brand can be anything from a recognizable logo to a consistent color pattern to a unique type treatment – or any combination thereof. A smart brand integrates well with the brand of the broker. An agent’s personal brand should never clash with the company logo & should always be versatile.

How does this effectively brand a specific property? This approach communicates to the public that you are a consistent producer of not only sales volume, but of quality marketing. With your personal brand, you build the same level of trust with your clients & prospects as any mainstream commercial product, giving the public confidence in you as their realtor.

3.) Create a brand that is entirely unique to a specific property

We all know an exceptional property when we see one – perhaps it’s a well kept mid-century modern in the suburbs or an early 19th century Spanish architectural in the hills. These special properties deserve special marketing. A talented graphic designer or marketing team can tailor your specific campaign to reflect the soul of the property in its design scheme, creating marketing materials that reflect the personality of the home. This route not only wows your sellers, but signals to the public that the listing belongs in its own category & should be treated as such.

Now you’re ready to go!

Now that you’re familiar with the three ways to brand a listing, you can more easily structure your “plans of attack” when releasing your listings onto the market. Each of the three above methods can be blended together or used singularly as desired – just remember to keep your brands consistent & complimentary of one another.

And now it’s time to sit back & watch your listings fly off the shelves!

Real Estate Transaction Process: Pricing, Marketing, Selling, Sales, Closing

Being an effective, quality, real estate agent, requires several skills, abilities, experiences, expertise, judgment, and actions, used together, to make the process, easier, less stressful, and far more efficient/ effective! This process begins with properly pricing a property, from the start, using a professionally designed, Competitive Market Analysis, valuable, properly designed marketing, well – considered, selling, bringing about a sale, and paying keen attention, until the closing. After more than a decade, as a Licensed Sales Representative, in New York, I have come to realize, the difference, the right agent, might offer, and, so, with that, in mind, this article will attempt to, briefly, consider, examine, review, and discuss, some of the key considerations, to understand, during this process, and period of time.

1. Pricing: Often, the initial, listing price, sets the tone, for how well the process will go! The best approach is to price it right from the start. Statistics, and data, indicates, the best offers, come, in the vast number of instances, in the first few weeks, after a property is listed, so, doesn’t it make sense, to attract, the maximum number of qualified, potential buyers, from the start, by pricing it realistically, and in a well – considered manner. Sellers should demand, their agents, explain, their pricing rationale, and closely review a Competitive Market Analysis, and use it, to its best purposes.

2. Marketing: What is the best way, to market, a specific house, and property? Choose an agent, who prepares, a fully considered, well – designed, marketing plan, which includes, the reasoning behind, the best media, for your home, and how to get the most bang – for – the – buck. Included in this planning, should be: the proper combination of media use/ usage; priorities; goals; the house’s niche; niche – marketing, etc.

3. Selling: Selling must be proactive, and, clients and agents, must work together, as a team, in order to achieve the best possible results. How quickly an agent responds to leads, answers/ addresses his client’s concerns, and perceptions, and the quality of his advice, in a well – considered, timely manner, often, differentiates, the right representative, for you, and the rest – of – the – pack!

4. Sales: The process of selling, must close the deal, with the results, which make the most sense! Only when the sale, is completed, and, brough to fruition, has the agent, provided the service, his client needs, and deserves!

5. Closing: Some falsely believe, the process is over, when the offer is made and accepted. However, many things, might happen, between, that step, and the closing, and, thus, experience, expertise, foresight, and planning for contingencies, are essential qualities, needed to be a great real estate agent!

Homeowners should hire someone, to represent them, who will pay attention, to all these factors, and create a scenario, where his client, receives the highest, possible price, in the shortest time period, with the best terms, and the least hassle! SInce, for most, their house, represents, their single – biggest, financial asset, doesn’t that make sense?

Real Estate – Selling – The Long List of What to Include in Internet Marketing For Your Property

If you are selling real estate in any form then you need to know about internet marketing. Do not spend your time with marketing methods from the past. Do not deal with Realtors who are stuck using old marketing methods.

The marketing methods for today and tomorrow are on the internet. You need a web marketing strategy for any type of property you are trying to sell. If your Realtor doesn’t have one for your specific property, then you must get someone else to do it for you, or get a different Realtor.

Often I am asked what is included in when we do customized Total Web Marketing Strategies for real estate properties for sale.

Below is a sample list of the types of things we recommend you do for properties after creating a custom website apart from Realtor or FSBO websites.

Sample Custom Internet Marketing Plan

– Website Marketing

– Onpage Optimizing with Keywords

– Search Engine Optimization

– Search Engine Submissions (Over 200 search engines)

– Authority Sites Back Link Development

– Email Marketing Campaigns to Targeted Buyer Groups

– Automatic Followup System – Setup & Maintenance

– Custom Flyer Creation & Distribution

– Buyer Contact List Building

– Video Marketing of Your Property (20 online video sharing sites)

– Audio Marketing of Your Property (30 online audio sharing sites)

– Press Release Distributions

– Google Local Search Engines Setup & Optimization

– Creation and Promotion of a Listing on Google Search and Google Maps

– Local Internet Directory Submissions

– Blog Creation & Blog Postings

– Real Estate Forum Postings

– Social Account Creation

– Social Bookmarking Submissions

– Article Directory Submissions

– RSS Feed Submissions

– Content Management

– Website Content Writing

– Graphic Design

– Property Branding

– Online Promotions

– Pay Per Click Advertising Setup & Maintenance

– Podcast Production & Marketing

– Webpage Sales Copywriting

– Web Traffic Analytics Setup & Analysis to Determine Website Traffic Sources

– Ongoing Monitoring to Determine Most Effective Channels for Marketing Your Property

Tips to Market Your Home

Selling a home online is the simplest way for an owner to sell his home himself. Like in any kind of sale, online selling also warrants extensive marketing. Marketing techniques used to reach the target market help in the quick sale of the property.

Effective marketing techniques are those that make the deal seem lucrative to the buyer. Online facilities offer the seller a lot of flexibility for marketing the property. However, one should use these facilities to bring out the features of the property in an attractive manner.

Here are some useful tips for marketing a home:

1. Property portals allow the seller to post descriptions about the property. Generally, there is no limitation on the number of words that can be used. However, it is beneficial not to go overboard and write lengthy descriptions. You should write brief, precise description of the property. This is because the prospects lose interest in lengthy descriptions and may opt to read about a different property.

What should you include in the description of the house?

• Location of the house

• Number of bedrooms

• Number of bathrooms

• Square-foot area

• Highlights such as the type of flooring, if kitchen sinks are made of steel or any other features, etc.

• You should also highlight if public transportation system is close-by.

• It is also beneficial to mention nearby malls, schools, etc.

The description should be worded such that the seekers can easily find relevant information.

2. You can post a number of pictures on the website. You should take care to capture attractive images with a proper lighting of the home. You could also consider home-staging before taking the photographs. Photographs should be taken from vantage points so as to make the home look spacious.

3. Online listing offers you the opportunity to post a virtual tour of the property. This enables the seeker to get a fair idea about the house. Before you record the video you should ensure that the home looks attractive. For this, it is essential to de-clutter and organise the house. Home-staging also helps in enhancing the appeal of the home.

4. Although the trend is for buyers to search properties online, it helps to advertise in the newspaper also.

5. You can also distribute e-flyers.

6. You can put up ‘Home for Sale’ boards in your yard.

7. You can send direct mails to neighbours, agents of buyers and to buyers in other locations.

Though not exhaustive these are some useful pointers which help in marketing a property effectively. In addition to these, you can use your creativity to market your home. Effective marketing will enable you to sell your property without an agent. This will help you in enhancing your gains.

5 Keys To An Effective Real Estate Marketing Plan

When a homeowner decides to sell his home, he should interview potential agents, and have a thorough discussion, about, why he should hire that individual (what is unique, or better about their service, etc), etc. Once, one feels comfortable with the individual’s quality of character, integrity, ethics, attitude, aptitude/ skill – sets, negotiating ability, and ability to customize an approach, to fit a specific property, it is essential to, take the time, and make the effort, to, understanding the basis, reasoning/ rationale, etc, of that representative’s marketing plan, and what will be included, and any necessary teamwork, involved. With that in mind, this article will attempt to, briefly, consider, examine, discuss, and review, 5 keys to an effective marketing plan.

1. How many Open Houses (Broker, and Community)?: Will Open Houses, be a component of this approach and planning? How might they, be marketed, introduced, and useful, in the overall marketing, of the client’s home? Should the house, be staged, or any other areas, addressed, and considered? How will your chosen, agent, introduce your home, to other local agents? Will they use a Brokers Open House? If a public, and/ or community one, is planned, how will it be promoted, where, and, who, do you believe, is the niche – market, for the specific property? What will the professional do, which differentiates his, from what others do, and make a significant, positive impact? How often will they be conducted/ held?

2. Where/ how promoted?: How will your home, be promoted, marketed, etc? Will your representative, explain his reasoning/ rationale, explaining, why, he will pursue a specific, course, and plan of action?

3. Pricing philosophy: After, well over a decade, as a Real Estate Licensed Salesperson, in the State of New York, I have witnessed, certain agents, who suggest, unrealistically, higher listing prices, in order to try to buy a listing. Ask individuals, when you interview them, what their pricing philosophy, is, and, why, they feel, it works best. Pricing is a significant component of the overall marketing system/ plan!

4. Agent/ client, regular discussions: How will the agent, you hire, interact, with you, and how, often, will, both of you, regularly, discuss, the process, etc, which are relevant, to the process? Avoid anyone, who won’t be ready, willing, and able, to fully communicate!

5. When price adjustment, and why?: How smoothly, effectively, and in a timely manner, will, price adjustments, be made, and what will be the core reasoning/ rationale?

The more, you and your agent, remain, on the same – page, the better, you can proceed, with the necessary degree of teamwork, to make a quality marketing program, even more meaningful and effective! Remember, for most, the value of their house, is their single – biggest, financial asset, so, do all you can, to follow a smart, course of action!

6 Quick Tips For Writing Effective Property Listings

A lot of potential buyers look to the Internet and magazine and newspaper listings when looking for property. For this reason it is imperative that your property description is as well written and attractive as possible. The last thing you want to do is waste valuable advertising space and money with a boring listing. Here are some tips to make you listings effective in selling a property:

1. Start with a Catchy Subject Line

As with most things you have a limited period to grab a potential buyer’s attention. When writing property listing, the subject line is where you make the first impression and it is essential to make it eye-catching. Don’t use words like “3 bedroom” or “2200 sq. ft.” or the property’s address in the subject line, as this information will be displayed in property features and facts section. Rather use the words like spacious or roomy to describe this feature. The sentence shouldn’t be long, so use your words wisely.

2. Sell The Area In Your Description

The description should rather focus on information regarding location, such as the fact that it is close to the beach, or 20 minutes from the city center, close to schools in the area and other amenities. This will give the potential buyer a better idea of where the property is, what lifestyle it offers and why it is such a good buy. If you don’t have a dedicated area to add features and facts about the property you can use bullet points to highlight the amount of rooms, bathrooms, garages etc.

3. Words to Avoid

A recent study showed that words like “curb appeal”, “move-in condition”, and “landscaping” are better to use than words like “motivated seller”, “good value”, “as-is”, “clean” and “quiet”.

4. Highlight the Positives

Words like “small garden” imply a lack of space, but instead of stressing the negative, rather turn that into something positive like “easy-to-maintain garden”.

5. Use Good Language and Grammar

Show your professionalism by ensure that the language and grammar you use are correct. Let someone proofread you copy and run it through a spell checker before you publish it.

6. Avoid Boring Cliches

Words like “gourmet kitchen”, “luxury bath” “bargain” and “cozy” are very commonly used. To stand out from the crowd you need to be unique in every way.

When you are listing properties, it’s vital that your content are presented in a way that is attractive to potential buyers. Include as much information as possible and remember that all this translates into a higher likelihood of a sale.

How to Effectively Market Your Rental Income Properties

Anyone who has been engaging in real estate investing for any amount of time has surely tried to sell an investment property at one time or another.

It’s called marketing. Over my thirty-year real estate career, I certainly did my share. And though my attempts didn’t always produce a successful outcome, the experience taught me a few things about marketing rental income property I would like to pass along.

Most are common sense, but mentioned as a reminder because there are realtors and sellers out there who need to hear it. The remaining tips are more subjective, but included to help you consider what might be a more effective marketing approach than you’re using.

Foremost, never make your marketing packages too vague. When you omit important financial data, it makes it very difficult for a buyer to adequately determine whether or not it presents a good investment opportunity. And this will typically lead to a further exchange of data with a buyer or agent that, at the very least, will be time-consuming, and at the worst, could cause a buyer to lose interest in the deal altogether.

Secondly, resist the temptation to skew the property’s financial data to appear overly optimistic. Perhaps rents can get raised, for instance, and you want to reveal that. But if you over-inflate what you deem could be future rents, you risk losing your credibility with the buyer, or may end up wasting your time in a deal that never has a chance anyway, once it’s subjected to the buyer’s due diligence. Keep your estimated assumptions realistic.

Thirdly, and this is a bit more subjective, don’t present marketing packages that contain everything but the proverbial kitchen sink-at least not in your initial presentation. In my opinion, distributing more than a three-page property report at your local investment club meeting or in response to a telephone inquiry, is overkill. Remember, you’re just trying to generate a response from credible investors with a valid interest; a more comprehensive set of reports can always get presented during subsequent exchanges.

Okay, now let me show you the essentials that worked for me. For simplicity, I’ve organized them by category: the numbers, and the reports.

The Numbers

Aside from sale price (which is a given), you’ll want to provide an itemized break down for the property’s annual cash flow, and computations for at least two rates of return.

1. Cash Flow

Cash flow is crucial because it’s essentially what the real estate investor is purchasing in the rental property. So compute it for at least the first year of ownership by focusing on the following three financial elements:

  • Gross Rental Income
  • Operating Expenses
  • Debt Service

2. Rates of Return

The rates of return (at least the two listed below) are important for the investor to determine whether or not his or her yields get met as well as providing a good way to compare the property’s financial performance and value to other similar-type rental properties in the market area.

  • Cap Rate
  • Cash-on-Cash

The Reports

Here are two reports I commonly used for initial inquiries. Both clearly show the rental property’s cash flow, and each include the cap rate and cash-on-cash rates of return. So they are informative, easy to read and understand, and straight to the point. Consider them as examples.

1. Marketing flyer

This announces the listing to the community-at-large (i.e., investment meetings, call-ins, and inquiries from colleagues). (Sample available on my site).

2. APOD

This enables you to show your own investor-customers a likely scenario during the first year of ownership. (Sample available on my site).

In a Nutshell

An effective way to market rental income property is to consider the process in two stages: the initial presentation, and the subsequent follow-up. Keep the initial presentation concise; even one report with enough data to reveal the property’s description, estimated cash flow, and investor’s rate of return should be adequate to garner interest from credible buyers when they exist. And reserve all the other reports (e.g., acquisition funds, proforma income statement, rent roll) to the subsequent follow-up exchanges.

Home Design Software Tips for You

The benefits of using home design software can be extraordinary. Whether you have experience with home building design or not, home design software can give you a fairly clear picture of what a new home looks like and this is amazing.

1. Make sure that you understand how the software works. Take some time to read the instructions and practice using the software until you become comfortable with all of the tools and other options that are available in the program.

2. Get a couple of books on house design, to make sure that you are designing everything so that it will function and flow properly in the new house. In other words, don’t make your hallways to big and your bedrooms too small.

3. Don’t design a house with engineering problems. Your home could look marvelous on your computer, but have engineering problems. Don’t get too excited, before you actually try to figure out if the home can be built.

4. Once you have a pretty good design, you’re going to need to make sure that all of the electrical, plumbing, heating and air-conditioning systems will actually work and function well with the home design.

5. It wouldn’t be a bad idea to understand how homes are actually constructed, before you design one. I can’t tell you how many architects I have worked with, who don’t understand how homes are actually built.

If you have the house design software, design a couple of different buildings, before approaching an architect or engineer. A good engineer or architect and even a good general contractor can look at a home design and point out potential problems with it. Have fun with your home design software.

Home Designer and The Way To Choose One

Home designers determine the design, materials, style, and details for residential building projects. In many states in the US, home designers are not mandated to have an architecture diploma or an architecture license. Many people can evaluate this type of home designer who does not have this qualification as an undesirable factor. Basically it is certainly not close to the truth. A non-commercial design professional “home designer” is the most suitable choice that will guide you through the design and building business.

A great home designer generally possesses years of expertise not only designing and drafting the construction docs in addition will often have put in many years on actual construction sites performing the actual job themselves. Now this isn’t at all times the situation however, these people with this kind of knowledge are usually best to design your home. Not just because of their experience and expertise in the profession but their rates tend to be more affordable when compared to a registered architect’s charges will be.

The rates a home designer, as well as an architect command has proven to be completely different. Architects attain four years or more of college getting an education and studying the particulars on architect home design as well as architectural design of almost everything else all varying from little homes to large high-rise buildings. Architects are registered to approve numerous facets of building not employed for individual houses. Because of these two details architects demand very high service fees to create an architectural design in addition to a set of construction drawings for houses. The majority of architect’s charges vary from 7% to 15% (sometimes greater) for his or her services on a housing project. Almost all home designers’ rates for this exact same service vary from 3% to 8%. This particular large variation in rates combined with the undeniable fact that each commonly possess the identical or the same level of expertise in residential design is actually the reason why the majority will probably select a home designer above an architect for their housing project.

Even though design capacity can virtually, be trained, the most effective jobs are the effect of a mix of skill and knowledge, therefore your choice in who to employ shouldn’t be exclusively selected simply for their reduced rates or education. A home designer needs to be selected as due to their outstanding results of their labor.

Home designers make use of numerous sources and instruments accessible to them to assist in communicating their architectural designs as well as the construction documents into the completed product. Many home designers continue to utilize pencil and paper in addition to numerous types of color goods to symbolize and express their design to their clientele. Even though this can be a great method of communicating a design to a customer it really is outdated and doesn’t consistently accomplish the job the home designer developed it for, to help the customer to fully grasp and picture the design. Nowadays there’s a large amount of computer programs that enable a great house designer to provide their house design to their clientele. These types of graphic tools as I prefer to refer to them include things like 3D colored renderings, walk-a-rounds, as well as walk-throughs.

Therefore, when you’re looking to select a designer it’s also advisable to consider exactly how they show their designs to their clientele. Not everybody can easily figure out a conceptual drawing of a 2D floor plan. In fact ultimately it will come right down to what home designer you sense you might have more suitable connection with and you feel the most confident with.

Building a residence signifies one of the biggest monetary assets that most people in their lifetime might make and very few understand how complicated this procedure is until they are involved with many agreements, construction requirements, territorial procedures, design and style choices, options materials, suppliers and builder options and so on. Help your family and your bank account and find a home designer to partner with and who you believe in.