Archive for: December, 2017

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Commercial Property Management Austin

Building on your base of customers with agents of commercial real estate

Imagine you are working in a commercial property management Austin for the first time.  The first thing that is going to bother you in the starting phase is not having a robust list of clients to work with. Formulating a customer list is indeed hard, but when ther are not enough customers in the books. Every sales person would take pride in the fact if they have their own customer base. Yes it is going to take a lot of time along with effort for sure. The process though could take a head start the moment you join the industry. When it is commercial real estate it is modelled as a people based profession. If you are familiar with a lot of people, you can work closely with them and convert opportunities.

The process to start with a customer list

Now the question is how you are planning to start a customer list. Let us follow the rules

  • Establishing routine and regular contacts with your customers’ needs to take place during each working day. The onus is on you on how you can squeeze this into your schedule. For customer interaction ideally you are going to need a couple of hours in a day.
  • It is suggested that you can divide your market geographically, so that you are aware from which areas your business is likely to emerge. Say for example, ideally it should be restricted maximum in between 2000 to 3000 properties at the most. Considering the fact that you are working in real estate, commercial brokerage in Austin could vary considerably. They are going to be different types of properties and you would need to understand what the areas of your specialization are first and foremost.
  • When you are establishing regular contact with the prospective customers, it is obvious that you would need some information that you would like to talk to them. This could be in the form of an email newsletter and it could reveal the latest trends along with happenings in the real estate market of Austin.

These are the pillars by which you can develop a customer list. The key is to be diligent and consistent in the process as the list will develop in the days to come. You will be then able to reap in the rewards with the passage of time.

 

real_estate_appraisals

Residential real estate appraisal Austin

Need Of The Real Estate Appraisal Before Buying A Property

Real Estate Appraisal, most commonly known as land valuation or property valuation is the process of deriving the value of a real property of market value. The appraisals are done by qualified and licensed real estate property appraisers who are specifically trained to do such kind of job. Real estate appraisals are required when you are buying or selling the property. It is also needed when you are mortgaging a property.

A real estate appraisal gives you the exact value of your property based on current market valuation. There are real estate firms which guide you to find the true valuation of your property, like the residential real estate appraisal Austin.

Why is Real Estate Appraisal Required?

Every property is different based on the location and market value. Your property cannot move from one location to another, but if you upgrade your property or improve your home, that changes its market value. In that case, an appraisal report is required to assess the selling price of your property. In other cases, however, appraisals are done for mortgaging loans, settling taxation, divorces and estates.

The appraisal for your property will be done by a certified and license-holder appraiser, also known as the property valuer who might inspect your property and makes reports on the basis of that.

How is the Valuation of Your Property Determined

There are different kinds of value required by a real estate appraiser which may be:

  • Market value
  • Use value
  • Investment value
  • Insurable value
  • Liquidation value

Also, there are three methodologies for determining the value of your property. They are:

  • The income approach- Example- to value a multiple-building apartment complex
  • The cost approach-Example- to determine the cost to construct a new building and to determine the insurable value of a property.
  • The sales comparison approach-Example- to value a single family residential property.

However, there are different kinds of valuation systems used in different parts of the world. An appraiser can choose from the different approaches to appraise the valuation of a property. In recent times, most businesspeople are using a scientific approach to an appraisal which involves the collection of quantitative data, assessing the risk factors and methodologies which are based on geographical regions of the property to be sold or bought.

After an appraisal is done, the data collected is input to an appraisal report. The data entry team consolidates and types the data into the appraisal reports.

 

       

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