This is default featured slide 1 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.This theme is Bloggerized by Lasantha Bandara - Premiumbloggertemplates.com.

This is default featured slide 2 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.This theme is Bloggerized by Lasantha Bandara - Premiumbloggertemplates.com.

This is default featured slide 3 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.This theme is Bloggerized by Lasantha Bandara - Premiumbloggertemplates.com.

This is default featured slide 4 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.This theme is Bloggerized by Lasantha Bandara - Premiumbloggertemplates.com.

This is default featured slide 5 title

Go to Blogger edit html and find these sentences.Now replace these sentences with your own descriptions.This theme is Bloggerized by Lasantha Bandara - Premiumbloggertemplates.com.

Thursday, July 31, 2014

Top Tips When Finding Your Real Estate Agent Match

The best real estate agent for your property and your requirements is not always the one with the flashiest ad in the newspaper or the nicest TV commercial. The best real estate agent should match well with you, and to find the best match is a lot of hard work on your part too. 
Professionalism, a good reputation and an impressive track record should be your 3 non-negotiable when looking for a real estate agent to hire. 

But subjectively, you need to keep a list of qualities the real estate agent you will hire should have.

  1. Dedicated. Will he be able to meet my actual requirements? A real estate agent may be a professional, but that does not mean he should undermine your needs and impose his own above it.
  2. Selfless. Will he be able to serve your interest above his? It is true that real estate agents earn on commission, but that should not mean your interest is served under his. Your interest must be at the centre of his work at all times... even if it means he'll get a small chunk of your sale to make you a satisfied client.
  3. High integrity and client service. Do his previous clients and references have positive feedback about his work?
  4. Knowledgeable. Is he familiar with the area where you are buying or selling a property from? Does he know the general market value or the price bracket of properties in your area?
  5. Word of honor. Is he altering the market situation in his favor? Is he realistic with the details and assessments of the real estate situation?

Fortunately, with the kind of technologies that we have, finding a real estate agent is a piece of cake. 

There are directory websites that feature all the real estate agents found in your locality. You can start from there and if you feel quite confident with a particular agent you find, do your research. If there’s any, access their website, read their blog and assess reviews or recommendations from their past clients. 

It is essential to shortlist at least 3 to 5 real estate candidates. Meet with them personally to validate what you have researched.

Prepare your questions before meeting them up. Below are examples of questions that you can ask them.

  • How many years have you been working as a real estate agent?
  • How has it been like? 
  • Are you a full-time agent or working part-time?
  • How long have you been working with properties in this side of town?
  • How many sales were you able to close last year?
  • How do you represent your clients? Do you represent buyers more or sellers?
  • In a month, how many prospective buyers or sellers approach you?
  • How many properties are currently listed under your name?
  • What's your marketing strategy?

There are definitely more questions you can come up with. It shows what kind of service you most require and the hoops you will jump through to get it.
Appraisals and assessments should not cost you. In the event that the real estate you want to hire offers an appraisal and an assessment for free, remember that it should not be the case. You are no way obligated to one real estate agent at this point in your selection process.

Sunday, July 27, 2014

Do You Want to Live in the Heart of the City?

There is something glam and glitzy about living in the city. It seems like the world is your oyster. Your life is in your hands.
In a few words, living in the city means living where the night life happens. You live near restaurants, bars and malls plus schools, museums and parks. You can be well assured that transportation will not be your problem as you are most likely well-connected given the trains, buses and cabs that run in and out of the Central Business District (CBD).

Living in the city means living where the action is.

It is also appealing for people whose work is located in the CBD. Aside from the social life, economic and financial activities also characterizes the city center.

The hustle and bustle of city living may be appealing, but definitely not for everyone. In fact, you will be surprised at the number of reasons why a handful of people still opts to live in the suburbs.

Traffic congestion is probably the biggest issues in city living. Traffic jams are everyday headaches that people contend with regardless. Traffic congestion becomes more pronounced as car ownership becomes easier thanks to flexible car plans. However, this is not exactly the case in Singapore, where the cost of cars is purposely made expensive to control traffic.

Pollution is also another reason that puts city living on the challenging side of things. Just imagine the number of cars, buses, and trucks that pass along city roads day in and day out. Truly, pollution is inevitable in busy environments.

Living in the city also makes the cost of housing high. As people become more congested in the urban centre, land becomes extra precious to have. Land cuts also become smaller just to accommodate everyone. And as the demand goes high and supply remains limited, it naturally affects prices to reach ceiling high rates. Land ownership or even just renting out a space can cause a dent in any urbanite’s pocket.

There will always be pros and cons whether you choose a quiet and peaceful life in the suburbs or in a rather noisy, fast-paced and congested nook in the city. You just have to be ready to give up one (or 2) of your comforts to live the life that you want for yourself and also for your family.

Saturday, July 26, 2014

Ways to Declutter Your Home to Help You Sell

A big buyer turn off is a cluttered home. Mess spells chaos and if you want to sell your property quick, you need to find ways to get rid of the clutter. 
Decluttering usually means getting rid of things and throwing them away, but it is not always easy regardless if the property you are vacating is a small apartment or a 2-storey house.

In this article, we will show you ways how you can declutter so your property is ready for the real estate market.

First, get an outsider’s perspective, if your property is indeed a mess and chaotic place. We tend to invest in a lot of furniture and sentimental items and we put them in our house for decoration. For us who see the same things day in and day out, we might think that the effects in our property are clutter instead of a feature of your home that highlights it as a good place to live in. Ask a friend or a family member about what they really think about your property. Your home may be perfectly organised as it is and you only need to declutter on a few rooms and not on your entire space. 

Second, inspect the nooks and crannies of your property. Clutter resides in corners, inside shelves and cupboards, under beds, and in the attic. Prioritise these areas as you declutter instead of attending to the most obvious areas of your property. When a potential buyer inspects your property, he or she will likely open cabinets, see storage rooms and check areas often neglected on a daily basis. Make sure that you do not oversee these areas of your property during home viewing. At its best, these tiny yet important areas of your home help in giving your property the best impression possible. 

Third, get all the clutter away and sort them accordingly. Will you take this clutter with you as move to your new address? Will you donate it? Or will you simply toss it in the garbage? If you think you are getting rid of valuable clutter, but you have no plans of taking with you anymore, hold a garage sale in your neighbourhood. It is a great way to get some value from things you do not need anymore.

Fourth, remember not to declutter everything. It is best to leave a few neutral decorations in its original place to make your property a little more inviting to your prospective buyers. Stow away your personal items and put them in a box for hauling. Saving a few trinkets and home furniture will help you save money on home staging.

Lastly, start decluttering as early as possible. Remember that the clutter you have so far did not arrive all at the same time. These things have accumulated over time and so it follows that getting rid of them cannot be done in one go. Start decluttering on one area of your property and you are on your way. 

You may be able to handle all your decluttering requirements all by yourself, but you definitely need professional help when selling your property in the market. Get the help of professional and experienced real estate agents who can give the best price and the best exposure for your property. 

Friday, July 25, 2014

Buying a Property? Here's What You Need to Look for As You Make a Purchase

Buying a property should be a calculated move. It is not advisable to go into the act of buying a new property without being careful about what the property has to offer to you. It is not just a new house that you are buying. More than anything, you are buying a new lifestyle.
It is important that you buy a property based on the neighborhood it is situated. Is it located in the city? Is it located in the suburbs? Visit the place and get the feel of the location. If it is an easy drive to the new neighborhood, dedicate a weekend for a personal ocular inspection. Not only will you be able to judge the quality of the neighborhood, but also the safety and security it has.

Aside from the neighborhood, investigate on the transportation system as well. Is it well-connected by train? Does public transportation such as cabs and buses regularly pass by your area? Even if you have a personal vehicle, it is essential that your new place of potential residence can be easily commuted. A well-connected residence is always convenient.

Again, the safety and security of your new property-to-be should be a prime consideration as you make a purchase. There is no point in leaving your old neighborhood if you are migrating to a place where the crime rate is high, and there is the absence of security forces patrolling the area. Be watchful of local news that pertains to neighborhood insecurities. As you perform your personal ocular inspection, check if there is a police station nearby. Look at the different security measures that the neighborhood implements also for your peace of mind.

Is it near commercial establishments such as your place of work, your kids’ school and a mall? Again, there is no point in switching homes if you are simply moving away from these essential commercial establishments that play a role in your routine. You may not mind doing a long commute to work, to drop off your kids at school or to do errands at the mall, but all these will definitely catch up with you sooner or later. Aim for convenience at all times. It is the only way you will be able to measure that you did a good job in selecting a new property to live in.

Definitely, you need to factor in the indoor quality of the property you are buying. Prepare a checklist such as the one below.

  • How does the kitchen look like? If you are particularly keen on the kitchen area, you should look carefully into the cabinets, the counters, the flooring and the appliances if ever appliances are included. If the quality of the kitchen does not meet your expectations, factor in the cost of repairs and replacements. 
  • What is the quality of the bathrooms? Bathrooms are probably the most expensive to remodel. The replacement of bathroom fixtures and plumbing repairs for leaks can cost quite a fortune if you happen to inspect a home that has poor bathroom quality.
  • Is the roof still okay? Next to bathrooms, roofs are also quite expensive to replace and even repair. Look for leaks, cracks, ripped parts, curled edges and missing shingles. If there are segments of the roof that are rotting or have algae growth, ask what the previous owner plans to do with it prior to selling.

There are definitely more things that you need to watch out for when buying a property. Consult the help of a real estate agent too to make the selection and inspection processes a lot easier to manage on your end. If you are looking for a property to buy in Victoria, consider Raine and Horne to help you in your selection process. 

Thursday, July 24, 2014

The Why's and How's of Property Inspections

If you make it a point to test drive a vehicle before buying it, the same goes when buying a property. Inspections are everything when it comes to property buying. You will never know what you are going to get or what you are getting yourself into 100% without a careful and calculated inspection of the property you are a few inches away from buying.
Why inspect?
  • Property inspections will provide you the features and conditions of the property and its local area. If you are inspecting more than 1 property for the week, make sure to take down notes or take pictures. Of course, ask permission from the real estate agent if taking pictures is allowed. 
  • Property inspections will let you know if the property indeed meets your basic (and not-so-basic) requirements. 
    • Is the location convenient to commercial establishments such as a mall or a school?
    • Is the size good enough for my family of 4?
    • Is the location prone to flooding?
    • Does the property meet my style?
    • How old is the property?
  • Regular inspections of the property you want to buy will tell you about the repairs and structural concerns you need to address eventually.
    • Do the floors need replacing?
    • Are there blisters on the wall painting?
    • Are there cracks or stumps on the walls?
    • Are there leaks in the roof?
  • Property inspections will tell you if there were alterations made to the property. Especially if the property was extended or renovated, you need to know that these improvements were permitted by the local council. Not only do you buy the property, but you also inherit the responsibility in case the alterations were made illegal.
How to inspect?
  • Attend an Open for Inspection. Check websites and the real estate sections of newspapers for Open for Inspection dates. If you are attending an inspection, you might have to show a proof of identity to the real estate agent for security.
  • Get a professional to inspect the property. The cost of hiring an inspector is smaller than the cost of a property that comes with a lot of structural challenges. The inspector - an actual building inspector, an architect, an engineer or a surveyor - will tell you all the faults in the property, the repair potential of these faults and how much the repairs will cost you. An inspector can also identify structural faults that have been addressed with cosmetic cover ups.
  • Do pest inspections. Investments need to be protected especially from tiny invaders that can crumble that piece of investment down. Do pest inspections with an exterminator present. This is a small price to pay to ensure that your property will not fall into pieces. 


Wednesday, July 23, 2014

Selling a Property? Let A Real Estate Agent Do It!

Now that you have prepared your home for pre-selling, it is now time to look for a real estate agent who will do the actual selling for you. While there are many ways and reasons for you to sell your property on your own, there are a lot of advantages if you leave it in the hands of real estate professionals.
Do you want to sell your property? If so, it’s best to look for a real estate agent who is also based in your location. Having deep local property market knowledge with strong ties to the neighborhood is one of the prime factors when looking for a real estate agent.

What exactly can a real estate agent do if you are selling your property?
  1. He will give you a realistic value for your property. It is natural for a seller to get a really great amount of money in return for the house they are planning to sell. No matter how ambitious, your selling price should be reasonable against the many factors that determine property values. Factors that affect the value your property are:
    • Supply and demand
    • Interest rates
    • Economic growth
    • Demographics
    • Parking
    • Home improvements
  2. Your real estate agent will help you how to sell. They can advise whether selling your property by auction is better than conducting a private sale or vice versa. Let’s say you plan on auctioning off your property. What are the benefits of selling at an auction? If you want potential buyers to be competitive with your price, set an auction. A property that looks good will be competitively bid on by potential buyers.  You can exceed your property’s expected value. You can also set your own terms. If you do not want any cooling off at an auction or if you want to approve settlement terms as requested by your buyer, you can do so in an auction. At an auction, there is a sense of urgency. If you want it to sell fast, sell your property at an auction.
  3. Organise your property for viewing. Inspections and property viewing are imperative for prospective buyers. At this point, you need to stage your home such that it looks enticing and appealing for buying. A real estate agent can organize inspections and property viewing to your prospects. 
  4. It helps to hire a professional stager if you want the best front for your property. The stager can arrange your furniture and spice up your interiors and exteriors. Ask your real estate agent for a stager they can refer to you. Increase your property's exposure to other buyers. Real estate agents have their own database of prospects. Moreover, they have the technology (such as a website), international capabilities (so that your property is not marketed only to your chosen locality) and brand recognition (especially if the real estate agent you hire comes from a known real estate company) that you can take advantage of by hiring them to sell your property. 
  5. Handle all negotiations on your behalf. Especially if you are new in property selling, you need someone who can handle all negotiations for you. A real estate agent who has your best interest at heart will strive hard to make all negotiations to give you the best price possible. 
    If you want advice in professionally marketing your property, scheduling inspections and viewing, increasing your property's exposure across local and international markets and finalizing your property's sale, get a real estate agent who has in-depth knowledge of local property market.  

    Tuesday, July 22, 2014

    Know These Six Ways to Keep Your Business Safe

    Now that you just bought a business that you like from its previous owner, now is the time to keep it safe from all possible dangers. This is your business now and it is essential to keep your investment all in one piece by doing all or any of these 6 ways to keep your business safe.

    1. Invest in secure door locks: Even if you plan on having a 24/7 operations for your business (such as a convenience store), you need door locks that will keep your business premise safe and tidy in one piece. Fit deadbolts to your doors so that your premises become totally untouchable to outsiders once you are officially closed for the day. Make sure that all entry and exit points are fortified with locks and that spare copies of your keys are left in the hands of staff members who you trust.
    2. Get a security camera: It is impossible to keep an eye on every activity that goes inside your business premises. You need to pay attention to your customers, to your staff, to the deliveries that take place everyday and so on. You cannot keep an eye on every single activity most especially the fishy ones. With the technology that we have today, it is easy to get a reliable yet an affordable security camera that can monitor and survey your premises for as long as you are open for business. And in case something really fishy is happening, you have evidence to show to the courts. 
    3. Install safe windows: Invest well on the fixtures that go in your premises starting with your windows. If you cannot get your windows to have secure locks, invest in burglar-resistant window panes instead. While the purchase of a glass break sensor alarm may be a tad expensive, there is always a price to pay when it comes to your premises' security. Moreover, make sure that window treatments you invest in for your business premises align with the Building Code of Australia.Check with your builder or contractor. 
    4. Property lighting: Proper lighting for your business premises goes a long, long way in keeping you, your staff and your customers safe. Make sure that your premises' perimeter is well lighted to avoid threats to your security. It is your best protection against burglaries, vandalisms and more. Keep all doors and other entry points well-lighted. Invest in LED and CFL lighting so you do not shock yourself with a pricey electricity bill at the end of each month.
    5. A secure cash register or a safe box: Get a tamper-proof, burglar-resistant and fire-proof cash register or safe box and keep it away from plain view. Keep it locked at all times if you are not by the counter. If you are keeping a safe box, make it a habit to change the combination code whenever you release someone from your employment. If possible, do not give out combination codes to your safe box to someone you do not trust 100%.
    6. Keep confidential details confidential: Especially if you recently bought an existing business, make sure that all paper works are transitioned to you and that includes all business contacts, contracts and policies. It is important that these are not divulged so as to protect your interest as the new business owner and proprietor.


    Monday, July 21, 2014

    Are You a Financially-Fit Home Buyer?

    It is every peoples' dream to be a home owner, but dreams, no matter how ambitious, should always be practical and realistic. It does not help to advance your mind and your focus on what’s ahead if you do not have the means right in your own hands as we speak.
    Buying a home is a big financial commitment and it should follow that your finances is committed also in your effort to call a property your own. Are you financially-fit to take the plunge?

    You are sure and clear-cut on what you can afford
    If you can honestly and straight out say to yourself an amount that you know you can afford in buying a house, then you can say that you are indeed financially-fit to take on a big commitment.

    Know how much you can afford and the kind of property and location you want to put your money in.
    When identifying how much you can afford, it is important to:
    • Factor in your lifestyle.
    • Look into the different types of properties that are available given your price range.
    • Know whether it is near public transportation facilities and commercial establishments.
    • Know its potential for sale in the near future.
    You can buy a house given your regular monthly spending
    Know how much you spend in a month in terms of your:
    • Household bills - electricity / water / Internet / cable TV
    • Groceries
    • Leisure - shopping / travel
    • Debts - credit card / loan settlement to help you tidy up your credit history
    Given the amount you have for each of these monthly mainstays, will it still allow you to buy a house that you want?

    By reviewing your finances, you will be able to know how much you should borrow from your lender. When borrowing money, factor in the cost that will go for:
    • Inspections
    • Conveyancing
    • Stamp duty
    • Real estate agent fees
    Do not borrow money that will only help you shoulder the cost that your current finances cannot cover, but factor in your upfront and ongoing costs also when borrowing money. You wouldn't want to make a second loan and go through the hassles and the paperwork for the second time around, right?

    You have a well-built savings account

    Especially if you are applying for a home loan, you need to show to your lender that you are a good candidate to be granted with a loan. 20% deposit may no longer be a requirement these days, but keeping a well-built savings account should be your priority.

    If you are about to open a bank account, aim for a high-internet savings account or a time deposit that has promising interest rates. Do a lifestyle check too. Now that you are building your savings account, maybe now is the best time to move back in temporarily with your parents so the money you pay for your rent can go to your savings account instead. Or maybe you can lessen the number of times you eat out by cooking more at home instead.

    Final words

    The answer to whether you are financially-fit to become a home buyer definitely takes a lot of time. And a lot of dedication and hard work. Sooner or later, you will reap the benefits of what you saved as reflected in the home that gives you comfort and security.

    Sunday, July 20, 2014

    Questions Every Buyer of an Existing Business Should Ask

    Starting a business from scratch is a lot of work. That's why for those who want their own business, an existing business that is for sale is hard to pass up.
    Purchasing an existing business for sale could mean preventing the inconveniences of starting a business from the ground all the way up. For first time entrepreneurs, an existing business is a safer option since they can acquire the customer base, the regular cash flow, the goodwill associated with the business name (hopefully) and the contacts from the current business owner. It's a full package. 

    Despite its appeal, it does not mean that an existing business that catches your attention is the one that you will buy on the spot. Set the path straight by asking the right questions.

    • Why is it on sale?: Asking the owner why he is selling can either raise red flags or just confirm your intention of buying it. The response is also an indication of the seller's motivations. An owner may sell his business because he is retiring and no one in his family wants to continue what was started. It is possible that the owner is migrating and the better option is to sell the business than closing it. Worse, it is possible that the owner wants to try a different industry. If the owner is selling because the business is failing, that is one example of a raised red flag that you should not miss. 
    • What is the business’ reputation?: A business' reputation is essential to its survival. Reputations are formed and characterized by the trust and confidence it has gained from its customers. This is a question you can answer on your own. If the business is still operational, try to visit the place. Try to evaluate the kind of customer service available. Are they attentive to their needs whenever their attention is called? Do you feel valued as a customer? Are they appreciative of your presence in the store? If the business is already closed and waiting for a buyer, try to ask for customer feedbacks and assess from there. 
    • What is the future of the business?: When buying a business, what you should look for the most is its profitability. There is no point in buying an existing business that has no future and will require you to exert the same effort as if you started a new one from scratch. Buying an existing business means acquiring its potentials as well as its problems. Request for financial statements from the seller. Buying an existing business means buying its income stream and the expenses of its operation. Seeing the financial statements will also let you know how you can recast it once you acquire the business. It is possible that you will not see the financial statements on the first meeting, but you will need this eventually. If the seller does not want you to see the financial statements (maybe it's really bad, he doesn't have any documents to show at all or he thinks that you are not a credible buyer), that should be your cue to look for another opportunity.

    There are definitely more questions to ask when you are in the market for an existing business to buy. Keep your questions aligned with your objectives and plans. Always think of the future and how this can be a sound decision you can make today.

    Saturday, July 19, 2014

    Manila in Fragments WTA Architecture and Design Studio in La Biennale 2014

    Metro Manila continues to witness major transformations on its landscape. What were once barren districts are now thriving with structures that host multinational companies and iconic commercial and residential developments.
    Long-standing buildings from old avenues are being preserved through furthering its purpose and role in the growth of its provenance. The number of city centers, or at least those that are aspiring to serve as one, is on the rise—bringing together the live-work-play aspects in a single dense area to fulfil the promise of convenience and modern living.
    Despite such renovations, the paths that identify the richness of Manila’s history are still visible— how the metropolis sprung from cohesion of small communities in the form of barangays, as well as the influence of the colonial era. Picturing these elements, when combined, the city has an immense contrast of edifices that help strengthen the character and diversity of its entirety. 
    These are just some of the ideas that make up WTA Architect and Design Studio’s installation for the Global Art Affairs Foundation Architecture Exhibition, a collateral event for the 2014 Venice Architecture Biennale. Carrying the theme Fragments: Uncertainties and Characters, WTA will be presenting the various cultural, social, and political influences that mould the urban character of cities in the Philippines, particularly that of Metro Manila. Dissecting Manila’s Urban Fabric “Our exhibit seeks to elaborate how uncertainty and informality allow for a greater growth and creativity,” shares Founder of WTA Architect William T. Ti. 
    WTA Architecture and Design Studio is the first Philippine-based firm to take part in the Biennale. The firm’s participation aims to show the international community what is going on in the Philippine architecture scene. “Fragments: Uncertainties and Characters” will show the city of Metro Manila as seen through the lens of the firm's experiences, highlighted by a selection of WTA’s projects that are envisioned to create the biggest positive impact in the landscape. 

    To date, the Venice Architecture Biennale is one of the most prestigious cultural institutions in the world that showcases architecture installations and large-scale contemporary art crafted by different artists and designers across the globe. The exhibition is held once every two years in Venice, Italy, and for this year, the show will run from June 7 to November 23, 2014.

    Friday, July 18, 2014

    Ten fully-furnished condo units to be won in the SM Supermalls Shop and Win Promo

    Ten lucky shoppers will get to experience star-life condo living as the country’s largest chain of malls, launches their biggest and grandest promotion, the SM Supermalls Shop and Win an SMDC Condo Promo. The country’s largest shopping mall operator teamed-up with SM Development Corporation (SMDC), the leading real estate company in the Philippines, to give away 10 fully-furnished condominium units in prime locations. 
    To join, one need only to shop or dine for a minimum of P1,000 single or accumulated purchase in any of SM Supermalls’ 56 mall locations nationwide including SMDC Jazz and Sun Mall. Shoppers simply present their receipt/s along with their E-Plus Loyalty card, SM Advantage card, SM Prestige card or BDO Rewards card for an e-raffle entry. Double e-raffle entries will be given with the use of the E-Plus Loyalty card. 
    Every month, two condominium units from SMDC’s prime properties will be given away, strategically located in key areas across Metro Manila. These are Field Residences, M Place South Triangle, Light Residences, Sun Residences, Princeton Residences, Blue Residences, Grass Residences, Sea Residences and Jazz Residences and an 80-square meter penthouse at Mezza Residences.

    Steven Tan, Senior Vice President for Operations of SM Supermalls said during the recent Shop and Win Promo launch last June 24, 2014 at the SMDC Grand Showroom, “SM will continue to provide not only affordable luxury and family fun mall experience but also a chance to experience the SMDC star-life condo living!”

    The SM Supermalls Shop and Win Promo starts from June 22 up to November 22, 2014. Visit www.smshopandwin.com for more details. Like and follow SM Supermalls on facebook.com/smsupermalls and on Twitter and Instagram (@smsupermalls) for regular updates.

    Sunday, July 13, 2014

    Home Selling 101: Simple Strategies in Preparing Your Home for the Big Day

    Coming up with several strategies (and fulfilling them) can make a world of difference when it comes to selling your property. You can get a higher price than just settling for an average rate. Aside from the price, property sellers should be also  keen as to what they can do to market their property better.
    Your strategy for your property should include the following:
    • Your ideal selling price
    • The presentation of your home
    • The marketing and advertising as recommended by your agent
    Ultimately, the end goal of your strategy is for your property to sell maybe not now, but at least eventually. And the best way to do it? First, appeal to the emotion of your prospects.
    • Strategy 1: Appeal to Buyer’s Emotion
      • Buying a house is unlike any other decision people make in their lives. A house is where life happens. That said, establish a connection between your property and your prospects. When they decide to view your home, allow them to visualize your home as if they were living there already. Take out whatever personal items you have, such as picture frames and family heirlooms. Help prospects imagine the life they could have if they buy your property. For instance, if you know that the prospects who requested to view your home is expecting a child soon, prepare your home for viewing accordingly. Empty out a room and suggest that it could be made into a baby room. Be proud about the amount of space their child can roam around in when he reaches 4 or 5 years old. 
    • Strategy 2: Have a great real estate photographer
      • With thousands of ads in circulation, it is crucial that your property ad stands out from the pile. You can do so by hiring a photographer who can take great photos of your property. Let your hired photographer know the features of your home that are worth highlighting in the photographs. Don't make it hard for your prospects to see why your property is a good deal to consider. If you want inspiration, ask your agent about the kinds of photographs that worked in their past campaigns.
    • Strategy 3: Stage your property!
      • Complement the real estate photographer you will hire with a property stager. A stager can help you:
        • Sell your property faster
        • Sell your property for a higher value
        • Decrease the time it takes for your property to be viewed by prospects
        • A staged property looks better on ads and other promotional materials
        • Attracts more prospects and offers
    A few added tips:
    1. Keep an open mind when hiring professionals to help you prepare your property since your style may not match with what your agent tells you or what your real estate photographer or stager suggests. 
    2. Remember: their expertise and experience should be your assurance that their decisions will always be in your best interest.
    3. If you are getting a property stager, get certified staging professionals only. Check with the ACSP for your peace of mind. 


    Saturday, July 12, 2014

    Tips When Leasing a Commercial Property

    Commercial property leasing is similar to residential leasing since you need to inspect the property well. You need to draw the necessary paperwork and sign them. You need to check whether your finances are sufficient and if not, what are loaning options you can get from the bank. You also need to get property insurance for your peace of mind.
    However, what separates commercial real estate from is the fact that you need to check whether the property you want to lease is located within the correct business zone and if it has proper planning and building permits for commercial operation. If you are looking for a commercial property for lease, zoning, planning and permits are 3 factors you need to look for. 

    For instance, you are a business owner and you plan on leasing a space in a shopping center. As a potential tenant, what are examples of good questions you need to ask a landlord?

    1. What kinds of businesses are leasing in the shopping center? Especially if it is a large shopping center, you need to know what your competitive advantage is should you decide to lease a space. If the shopping center houses many businesses similar to yours, then you have to think about your decision to lease well. You might not be able to survive the competition.
    2. What are the facilities associated with the lease? Aside from having a clear identification of your leased area, ask if there are associated facilities that comes with the lease such as parking space, stock room use and storage.
    3. What are the trading hours of the shopping center? It is logical to lease a space in a shopping centre that matches your operating hours. A 24-hour business is definitely not a match with a shopping centre that operates form 8 in the morning to 8 in the evening. Negotiate with the landlord in such instances.
    4. Are there plans to renovate the shopping center soon? Any improvements in the facade or within the premises can impact your operations. As a potential tenant, you are entitled to know what plans they have as far as site development goes. 

    It is equally important to know how the law can protect you whether you are a tenant or a landlord. Again, taking from the viewpoint of a business owner planning to lease a retail space. A landlord also has a right to take action if the tenant suddenly abandons the leased premises without notification and without paying rent. The retail lease signed by both parties is a legal document and is binding to all those who are signed in.

    If you encounter issues and discrepancies in your lease, take a proactive step by addressing the issue on your own. Speak directly, politely and calmly with your landlord. Try to negotiate your terms and aim for a win-win outcome as much as possible. Request the help of your commercial real estate agent if ever you hired one to help you with issues on your lease. 

    Friday, July 11, 2014

    Practical Points You Need to Consider When Buying an Existing Business for Sale

    Practicality is integral when owning and managing a business. While it is essential to have business sense and entrepreneurial instincts up your sleeves, it would be such a waste to turn your entrepreneurial dreams into a mess if you limit yourself on those 2 points.
    • Practical knowledge
      • Investing on your hobbies is a good foundation if you want a successful business venture. If your hobbies include baking, quilting or even mixing bar drink concoctions, it is best to look for an existing business for sale that will allow you to hone these hobbies and make it part of your daily work. Find an existing business that will allow you to exercise your hobbies. It is a great business opportunity worth investing in. Aside from your hobbies, you should also invest in your skills. People management, interpersonal communication, salesmanship, advertising, marketing and strategic planning are examples of skills that can come in handy for an entrepreneur-to-be. Combining your hobbies with these coveted skills can make you a successful business owner. 
    • Lifestyle changes
      • Owning and managing a business will require you to make lifestyle changes and sacrifices. Especially if you are transitioning from being a regular employee to a full-time business owner, you need to dedicate time managing your enterprise, which means making significant sacrifices about your lifestyle. This could mean sacrificing your weekend and supposed non-working holidays for doing inventories, mixing lunches and dinners with business meetings, spending less time with friends and family members to be there at your store premises and waking up extra early to accommodate more responsibilities related to your business.
    • Connections
      • A successful business owner does not rely solely on one’s personal resources, but also in the wealth of connections he has. Connections are practical for an entrepreneur. It is the foundation of enduring and mutually-beneficial relationships. Having connections can get you to far places. You can have a myriad of contacts for suppliers, for your staffing needs and for your advertising and promotional requirements.  Aside from having a web of connections in the world of entrepreneurship, being well-connected to estate agents who are in the business of selling existing businesses can put you on the right track as well. 
    • Location and other fixins
      • Nothing can be a more practical consideration when factoring the location of the existing business you want to buy. You need to be on the business premises at all times and the location will obviously play a crucial factor. Aside from location, the inventory, the furniture and equipment, the staff, the existing customer base, the cash flow, financial records and plans of improvement should be included as part of the different practical points you need to consider whether it is a good idea to buy that existing business or not. 
    If you are buying an existing business from an agent, get his counsel too, as you would not want to enter the state of business ownership without being well-advised. After all, it is probably the most monumental transaction you will make in your life.

    Thursday, July 10, 2014

    What You Need to Prepare for When Buying an Existing Business for Sale

    Buying an existing business for sale has its own set of advantages and disadvantages. Jumping into the idea of buying an existing business may not be for everyone, but it pays to know within yourself if you are cut out for it or not by having preparations done.
    Planning starts by knowing the industry the existing business you want to buy belongs in. For instance, the possible industries an existing business for sale may belong to can be the following:

    • Building and Construction
    • Defense
    • Design
    • Food and Beverage
    • Information and Communication
    • Manufacturing
    • Professional Services
    • Financial Services
    • Retail
    • Science, Technology and Innovation
    • Transportation and Logistics
    Once you categorize the business according to the industry it belongs to, get to know the specific information about that industry such as statistics, average performances, grants and other benchmarks that will let you know how much you can earn from buying an existing business or how much it will cost you for the business turnover.


    If you are looking for existing businesses for sale, search according to industry so you don’t waste your time looking at industry listings that do not interest you at all.

    Next, you have to know whether you can buy an existing business you want based on your current resources. If you are buying a business in a certain place and you need financing, research on banks in that place that can provide you with different loaning options that will complement best your current financial state. As you research on banks, it is also best to research on financial management such as tax basics and obligations to prepare you for what's ahead.

    Think about whether buying an existing business for sale is a good move for you or not by listing the advantages and disadvantages of engaging in one. See the table below for a preliminary list.

    Advantages
    Disadvantages
    The business is already in operation
    You still need to learn the rhythm of the business; you cannot dictate how it should be operated
    Your focus is continuing the business and not establishing it from the ground up
    Need to replace old equipment, stocks and tools, which are expensive
    Benefit from the goodwill associated with the business you are buying
    The business may have a bad image, which can be challenging to change
    You keep the customers, suppliers, staff, equipment, stocks and contacts
    Customers, suppliers, staff and contacts may leave knowing that the owner is different
    There are several questions too that you can ask yourself whether buying an existing business is right for you or not.

    “Why do you want to buy an existing business?” “What are your motivations for doing so?” “What industry do you want to a buy a business in?” “Do you have the resources to buy one?”

    It is also important to ask yourself why the business owner is selling his business. For a business buyer, such as yourself, you need to know whether there is a future in that business or not. There is no point investing in it if there are no returns that you can calculate and anticipate should it be turned over to you.

    Wednesday, July 9, 2014

    What Can Property Sellers Expect from their Estate Agent

    Even if property sellers have the option of selling their property on their won, a majority of them would feel more secure about the entire selling process if there was an estate agent working with them. If you fall under this group of property sellers, what can you expect from your hired estate agent?

    • Licencing:  You can expect that your hired estate agent is licensed. To be a part of the real estate business, certain qualifications and licensing requirements specific to seller must be met. Aside from licensing, your hired real estate agent must be employed and authorized as a representative of the firm he is a part of. He must have a written note stating that he is authorized to work as an estate agent on behalf of the estate broker. Check with the Business Licensing Authority or the BLA for your peace of mind. The name of the agent you want to hire must be in the public registry of estate agents. If you want to make sure that the agent is a representative of the estate broker, he claims to be under of, verify with the BLA as well.
    • Commission: You can expect that if you put your property under the real estate listing with the help of your agent, you are agreeing that he will receive a percentage of the selling price in the event that your property gets sold. This percentage, which normally ranges from 5 to 10%,  is the agent’s commission. Sometimes, there is a conflict, whether an agent must receive the commission he demanded upfront or not if the property was sold anyway without the agent lifting a finger. Talk to your hired real estate agent what is the best road to take when this happens. 
    • Character: You can expect that your hired real estate agent must be ethical and professional at all times. He should have your best interest at heart and must be law-abiding at all times. He must be aware of the regulations specific to real estate so all transactions he engages in on your behalf will be clean, no red tape whatsoever. 
    • Marketing: If you are seeking for the best method of sale for your property, he must provide you with a strategic marketing plan. The way he will advertise your property must be in accordance with industry standards in Victoria so your property starts out competitive even in the first instance. He should also advise you on what aspects of the property you should highlight when putting it in Victoria real estate listings. He must organize your open house or your auction, stage your property accordingly and arrange all inspections that will follow after. 

    It is understood that by hiring an estate agent, he will make sure that your property will attract as many potential buyers as possible. He will also see to it to arrange all the necessary procedures that come after a sale are made such as preparing the contract of sale, explaining the implications of the said contract and other business aspects involved during the settlement.

    For first time property sellers, it is critical that you devote as much time as you can to prepare your home for sale when looking for an estate agent to hire. The decision you make on who to hire will definitely have an impact on the stages of the selling process that will follow.

    Tuesday, July 8, 2014

    Finding the Estate Agent for Your Property

    Whether you are buying or selling a property, it is important that the agent you will work with is the the most ideal you can ever find out there. While the terms 'best' and 'ideal' are highly subjective, it would not hurt to take these standards consciously as you set yourself out in the market looking for an agent to help you purchase or sell a property.
    The top priority you should consider when finding an agent for your property is his or her location. If you are selling a property in Melbourne or in any part in Victoria for that matter, it follows that you need to look for an agent who is working directly with real estate properties in Victoria. They know what properties are available for sale in the area, the buying and selling procedures specific to real estate in Victoria and more.

    If you find yourself having a considerably hard time contacting the estate agent you want to hire from his office, consider that a good thing. An agent who is always out in the field and hosting open houses rather than confined in his desk means he has a lot of properties to sell, buy or auction off on behalf of his client. Make sure that you know and have other ways of contacting the agent you want to hire aside from his office number. Know his mobile phone or email address. Or better yet, join an open house that he is hosting. You will most likely see him there.

    If you are buying a property, always aim for the top realtor you can find. Why is that? 
    1. Top realtors are well-connected. They have their way of knowing properties for sale not advertised and even properties that you do not know are for sale unless you personally know who the owner is. 
    2. A top realtor is also great at making negotiations. If you are new to buying a property, you need an experienced negotiator who can give you the most favourable price.  Your realtor can look into the many angles of  the property to haggle the price such as the condition of the home, the neighbourhood, the proximity to commercial areas and other angles that you are most likely to be blind to. 
    3. And with the experience a top realtor has, he will be your voice of reason whenever you find yourself falling in love so easily with a property you saw for the first time. They will stay objective for you once you find the property that suits you – appearance-wise and financially-wise.
    Take your time in looking for the estate agent who will best represent you when you sell, buy or auction of a property. Get referrals from friends or family members and do your share of interviewing the agent you want to hire. Check the agent's references by calling at least  3 of their most recent clients and check if the agent has indeed been truthful with his credentials and past works. 

    If you are buying, work with a buyer's agent who is not the same as the seller's agent. The danger of working with an agent who is representing both the buyer and the seller is whose best interest has the bigger weight. Working with an agent who is exclusively working on your side means all negotiations will be directed towards your favour.

    Sunday, July 6, 2014

    Common Home Buyer Regrets You Should Avoid

    Buying a home is a milestone for anybody. It is not an overnight decision and every move entailed in the process is well-calculated. However, it is surprising that there are still those who commit the most basic real estate mistakes that make them regret the home they recently purchased.
    In the business of real estate, it is important to buy without regret. If there’s anything you missed during the pre-buying stage, you will be constrained to live with it and make amends.

    A good number of new home owners regret not paying enough attention to the maintenance and repair costs of the home they are excited to buy. After all, when you like what is standing in front of you, it can easily eclipse the so-called bumps and bruises you should be paying attention to.

    When one views a potential home as perfect, leaks in the roof, the poor plumbing system, the defective indoor heating system and the poorly maintained front and back yard, for instance, are easily ignored. When buying a home, the maintenance and repair costs must be well-accounted for in the bid or else you will be constrained to shoulder all the expenses to make it perfect.

    Some new home owners also regret ignoring second (or third) inspections of the home they want to buy. Findings from a general home inspection should not be considered absolute. Inspections done may not be extensive, thus leaving a lot of oversight, which the rushed home buyer will manage on his own later on. Instead of paying for new living room furniture or new appliances in the kitchen, money would instead be directed to expensive home repairs. That can be frustrating for a new home owner.

    A regret some new home owners feel is the neighborhood they are now a part of. A beautiful home is not entirely beautiful if the residents are not truly desirable. The kind of neighborhood you have can spell a big difference whether you will like the new house you live in or not. Seemingly small details such as a barking dog can be just as big a concern as disrespectful neighbors and high crime rates in your new locality.

    Avoid buyer's remorse by asking around. Ask your real estate agent what is the social climate in the area and the general demographic of the residents in the particular neighborhood. Find time in inspecting the neighborhood prior to your purchase by knocking on some doors and asking the residents what made them interested to buy a property in that neighborhood.

    At the end of the day, buying a home should not be rushed. Even when you already found the home you like, have gotten pre-approved and the bid appeals to your financial capacities, there is still a lot of homework that needs to be done. The best way to avoid regrets is to take your time. That way, you do not have to keep looking back on the steps you missed. It is all matter of moving forward

    Saturday, July 5, 2014

    Buying or Renting a Home: The 2 Sides of the Coin

    The question of whether to buy or to rent applies to all sorts of things such as cars, electronics, DVDs, and even athletic equipment. However, the question is most strongly seen and applied in real estate.
    “Should I buy a home? A big chunk of my paycheck goes to my rent anyway!”

    “If I’ll go on buying a home, is my job stable enough to allow me to do so?”

    These are just some of the many questions that baffle people these days. They find themselves at a loss which side to be on – to be a buyer or a renter – and when they go to one side, they suddenly think of more reasons why it is greener on the other side. 

    The advantages of buying your own property are:
    1. It is yours!  You can do whatever you want with it. You can extend your kitchen, add a garden, put up a fence, remodel your garage area and more. You can even paint your house blue if you want to. More than the creative freedom, having your own home is personally gratifying. 
    2. Property buyers are eligible for tax deductions and other benefits. As a property owner, there are aspects of your sale that are tax deductible. The advertisement you create to entice buyers, land taxes, water and sewage charges and council rates to name a few have their respective tax deductions. 
    3. Having your own home can improve your credit rating significantly. Owning a property naturally makes you look good on paper. As you improve your credit rating, you are also building your equity, which is good since you increase your ownership of your property in every payment you make towards your mortgage.
    Renting also has its advantages. 
    1. Homes for rent will not put a dent in your wallet, especially if you are just living on every paycheck  you receive. You get to live peacefully and comfortably in a home that does not dry out your pocket. Compared to a house you want to buy and a home you want to rent, you will be shelling out less money up front. For instance, between a 2-months rent plus security deposit and a hefty 50% down payment of the selling price of the home, the first is more manageable on your part. With most of your money intact, you can invest your money elsewhere. You can use it for a new car, a new kitchen appliance - whatever you choose.
    2. If you have plans of relocating soon enough, renting as opposed to buying can work to your advantage most. Renting is most helpful if there are several uncertainties in your life. Uncertainties in income and what the future can bring are 2 most popular. 
    3. If you are renting, you won’t be required to fix the home for damages. You don’t have to channel your handyman instincts. All you need to do is to call your landlord and have him inspect the damage. Your landlord will be in charge of your rented home's maintenance.


    Friday, July 4, 2014

    Why You Should Buy an Existing Business: Advantages of Buying Businesses For Sale

    Setting up your own business can be tedious that no amount of pep talk can prepare you. Hence, if there are listings about businesses for sale, a lot of people jump at the idea and make amends to meet the selling price. 
    What are the advantages of buying a business for sale? Below are several reasons.
    1. Less risk. Especially in a place where the commercial landscape is competitive, buying a business for sale can save you from the risks of actually starting one on your own.  What are examples of these risks? 
      • Losing your own money – Every business, whether it is small always requires a significant amount of money. You empty your savings account or borrow money from the bank. As you invest it in your business’ capital, there is always that risk of not seeing that money again. Make sure that the kind of business you are investing in is not risky either. It is important to ask yourself: am I willing to gamble all this money on this particular business idea?
      • Sacrificing your personal life – Starting your business from scratch is best managed following a hands-on approach. As you clock in more hours towards your business, you will naturally lose time to spend with your family, your friends or even just to enjoy the weekend in front of the TV on your own. Starting your business from scratch comes with a high personal cost. You have to be willing to make sacrifices on your personal relationships.
    2. You save a lot of time. The majority of the time that you need to invest when starting your own business is in the beginning. The beginning is where you plan, set up your goals and objectives, devise your own logistics and hire people among many other things. When you buy an established business, the difficult start-up process is already done; you just need to continue it so initial efforts and investments won’t go to waste. Along with the purchase of the business is acquiring the existing customers, staff, contacts and equipment – all equally time-consuming as those mentioned previously. The beauty of buying an existing business is you can already measure what your potential gains are and how you can improve the entire structure. The cash flow is your immediate priority once you step in.
    3. Opportunity for creativity. Starting your own business does not provide you with this opportunity. The decisions you need to make must be calculated and scientific; creativity and innovation should follow later. If the business that you plan to buy is aligned with your specialty, it will be easy for you to personalize  it for the better. If you have extensive experience working as a chef, it is likely that you will become very successful with the cafe or restaurant that you will buy. 
    Your creativity and innovative juices can focus on improving the business and expanding it. Hence, if you are looking at a list of businesses for sale, focus on businesses that you are familiar with and businesses that you already have experience managing.

    Wednesday, July 2, 2014

    3 Must-Do's When Buying a Property

    Whether it is residential or commercial, buying a property should be a well-calculated endeavor on your end. There are several must-do's you need to prioritize and it starts by preparing yourself in a lot of aspects – financially-wise and knowledge-wise.
    A first must-do when buying a property is to find out how much you can afford in the first place. Buying a home should make you financially comfortable and not miserable. There is no point in finding a property that costs twice compared to what you can actually pay for. There are several ways to know how much you can afford when buying a property. 

    1. You can use a mortgage calculator. A mortgage calculator lets you know how much you can borrow from the bank based on the annual income that you are getting, the interest rate that applies currently and the length of the loan that you can work out. Second, identify your debt-to-income ratio. This basically shows you the part of your income that you can direct towards the settlement of your loan should you be approved for that loan. Ultimately, the amount you can loan should be commensurate for you to borrow in the first place based on what you can generate on a per annum basis. Third, know your loan eligibility. Know what your credit score is as this indicates how much you can borrow. A high credit score will allow you to borrow more than if you have a low credit score.
    2. Get pre-approved. Have all the necessary documents ready such as payslips, a letter from your employer, bank records, list of assets and credit card statements, etc. You have to show to the bank or your lender of choice how much you earn, what you currently own and what you owe. Have your IDs prepared too for validation. Why should you get pre-approved even before you start looking for properties to purchase? First, you need to get pre-approved anyway, so why delay this important step in the procedure? Second, getting pre-approved can be a long, tedious and sometimes frustrating process that you need to go through. You can meet disappointments along the way as there could be instances when your application will not be approved and you need to look for other means to do so. Third, it can save your time as well as your real estate agent's. If you find the perfect home, but you are unable to buy it primarily because the bank denied you of your loan application, you need to channel your attention towards cheaper properties that you can afford. Your pre-approval will allow your real estate agent to filter properties for sale that you have the capacity to buy. 
    3. Find a real estate agent that you can trust. The real estate agent you will hire will be your representative as you make your way into buying a property. Aside from being your representative in the industry, this person will be responsible in giving you the current market prices available, the homes for sale that you can buy based on your capacity and other valuable information that will make it easy for you to purchase a home. Take your time when choosing a real estate agent. Research well, ask friends and family about agents that they can recommend to you. Look for their credentials and affiliations for your peace of mind.


    Related Posts Plugin for WordPress, Blogger...