The How-To Guide For Real Estate Success

What's this I hear - real estate success? Yes, that's right, and you can achieve this by cultivating good habits. And if you want to know what these habits are, then I invite YOU to read this article and make yourself some real estate investing success.

Don't just tell them your name, ask for your clients' names as well! People are the most valuable commodity in the world of real estate investing. The more you get to meet potential clients, the higher the chances of finding good properties and people interested in these properties. Get to know the right people too. If you don't, you may consult a real estate agent for some complimentary listings tailored to your target market. But it would even be more swell if the agent rung you before you did him/her.

Numbers, numbers, numbers. Think people first, but know the relevant numbers. Ideally, when you look at a rental property, for example, you should be thinking about the income, the expenses, and the cap rate. You should have a knack for forecasting how certain events can potentially raise the income, and how it would affect the value of property. If you simply rely on instinct when dealing with property, numbers be damned, the only thing you may have to predict would be how quickly you get into trouble.

Be armed with supplies. Make sure you bring a few business cards, pen and paper at the very least. You have to be prepared for that pleasant surprise upon seeing or hearing about a property for sale. Once you tell people you are a real estate investor, don't expect their jaws to drop on the floor - expect them to shower you with their opinions, advice, and in some cases, an offer you can't refuse - but not THAT kind of Don Vito Corleone-esque offer! Be a Boy Scout...or Girl Scout!

Risk reduction helps. Your offer must be rife with fall-back stipulations on inspection, financing and the like so that way you can reduce your risks and get your deposit money back if need be. Before buying, there must be some sort of escape clause involved. Always compare values and again, don't rely on instinct alone. Use your corporation or LLC to buy property. Keep those risks to an absolute minimum at all times.

Real Estate Success - Action Speaks Louder Than Words!

Make your goals action-oriented. Make it a habit to galvanize yourself to take action in order to attain real estate success. Require yourself to look at a certain number of properties, and maybe even to write a certain number of offers each month. Even the minutiae of real estate must have some sort of goals attached to them - say, making at least five phone calls a week or one a day, visiting the Internet at least twice to check for new listing, among others. Action creates momentum, and repeated action creates habits. And you can't have success without good habits.

Finally, learning more about investing from books, magazines and even tapes or CDs is a great idea. However, you must put your research to good use after you're done gathering data. A lot of us fall into the trap of being so enchanted by the stories of real estate success we read about, that we don't even take any sort of action to achieve that success through investing on our own.

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Why You Need A Realtor

These days you probably are hearing FSBO this, FSBO that till you're dreaming FSBO and considering it as your primary option if you are selling your home. People usually opt for this because saving on commissions is just too good to pass up. That doesn't always apply. What is left out of these advertisements for FSBO is the fact that those thousands of saved commission dollars are usually used up and exceeded by completing the tasks that are seen to by a Realtor. A Realtor sells homes for a living. ask yourself this: if you needed to have a cavity filled would you go see an electrician? Of course you'll go to the bar...duh! Likewise, you wouldn't want an untrained professional helping you sell your pride and joy for the past few years!

The services provided by a Realtor are specifically designed to make the sale of your home a breeze, not to mention make sure you are not getting a bad deal in the end. Marketing is probably the most tangible benefit you can get from a real estate agent. Unlike selling by yourself, a Realtor has access to a huge variety of advertising mediums. They usually have websites that are well-known in the Internet community as their first option. Real estate agents generally list your home on the local MLS, and showcase their own personal listings on a separate website of their own. This would be the website where would-be buyers would usually get their first glimpse at the homes for sale. They would also market your home by having advertisements printed on newspapers, or by distributing flyers in different forms and other forms of information dissemination.

Another aspect of home marketing where a Realtors comes in handy is in the relationships they retain with other real estate professionals. Realtors work within their bailiwicks and market homes to each other, which helps them widen their reach in the home buying market. The world of home selling is, in essence, about making each home for sale as palatable as possible and as accessible to the buying community as large. There is a reason that a large percentage of FSBO's eventually end up listing with a Realtor in order to get the coverage and price they deserve.

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How To Sell In A Buyer's Market

Experts tell us that it's not a seller's market anymore. This doesn't mean that it will be hard to sell, but you might need to make the extra effort to get your house to move faster. Here's how you can sell your house in a shorter period of time.


Sell for a reasonable price. Nowadays, buyers are more cautious where they invest their money. They wan to know that what they are choosing is right. Be practical and choose a price that reflects the current market, not the market six months ago.


First Tip. Sell your house at a price at or below the competitive market price. So if the neighbours are selling for $400,000, sell your house for about $395,000.


Provide a little extra. Offer an incentive so you can attract buyers. Gone are the days when people are willing to pay more for less. This means buyers want to make sure they get their money's worth. You can make them feel like they are getting a good deal.


Tip #2. You can offer to pay the buyer's closing costs as a perk of the sale. Or you could be flexible with the length of escrow and be willing to fix items in the house inspection report.


Make things pretty. Spending a little money to improve the appearance of your house can work magic when it comes to attracting a buyer.


Tip #3. Fix that wobbly doorknob, plant a new flowerbed, or put on a fresh coat of paint to give your house a fresh and new appearance.


Don't forget to clean. You must make sure the house would be clean and pleasing. Remember that they are most likely going to be looking in closets, opening the oven door and peeking in showers. You want to show your house in the best possible light.


Tip #4. Clean, dust, scrub, and polish your house to make it shine.


Doing so would help attract buyers to your house. Show a buyer that you are keeping him in mind and that you want to give a fair sale. That can go far in today's real estate market.

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