From the first time a client decides to invest in real estate, to purchase a property or to sell, there is quite a bit of work they must do, but this is where the real estate agent comes in to provide much needed experience and guidance.
Owning a property may be a tough job for a lot of investors, but they can also do a lot of good with it. Finding the best properties out there, however, takes some skill and preparation.
The following tips will give you an idea what you can do to find the right property for your clients:
Even though a lot of people may try to do a property search on their own, they will rarely possess the necessary knowledge to pull it off the right way. Agents are meant to take the time to find all necessary details surrounding the client’s needs and finding potential properties is a major part of the job. The investing range of the client may vary, but it is up to you to find the right type of property for their needs for investment and purchase. You will need to take an unbiased approach to the situation however, as you are a go-between the two sides of the deal between owners and client.
Something else worth noting is that some buildings may have had improvements done, such as basement conversion, new roofing jobs, tiling, wallpapering, brick work and loft conversions that may also add to the value of the property in question. You would still do well to scout ahead and check what the improvements look like, so you can be aware of what you will offer to your potential clients.
You should keep the quality and safety of the neighborhood where a property is as part of the equation. This will have a great impact on the market value of the property itself, as well as its desirability in the long run. You can, for example, benefit from finding a property in a neighborhood with a university nearby or other lots where you have stores and other useful locations for future tenants.
Although property taxes are not quite standard all over the world, you would still do well to plan ahead for them with your client, as they will need to be aware of the amount of money they will lose on taxes. High property taxes may not always be a terrible thing, depending on the neighborhood, but you should still keep it in mind. You can talk to the homeowners and the local assessment office for more tax information.
Nearby schools can also be important factors for determining the perfect property, as your clients may need a place where they can find a decent school for their kids. You may want to check the reputation of local schools as well, as this may also reflect upon the value of the property on the market. This will work well with investors looking for a property or families with children that need a new home.
One other thing worth mentioning is that you should pay close attention to crime hotspots and activities around the properties you plan on finding for your clients. You can check the local police crime statistics for more information, rather than risking it and helping to seal a deal in an area potentially dangerous for your clients. You should look for specifics, such as vandalism rates, recent activity trends, petty and serious crimes and registered sex offenders nearby. This will likely affect the value of the property in subtle ways you may not know about otherwise if you don’t look for this information.
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