After youve primped and prettified your home for the purpose of making it look more attractive to potential buyers, the next logical step you will have to take is to actually make these buyers feel welcome in your abode.
Whether or not youre selling your home on your own or through the assistance of real estate agents, the basic tips for successful home showing remain the same.
The first is that you should always be ready to show your home to potential buyers. Naturally this does not mean that you should entertain guests who come knocking in the middle of the night. It simply means that you should be flexible with your availability. Always be ready to show off your home and greet your guests with a smile even if your guest comes in 15 minutes early or 15 minutes late. Dont worry; clients who know that they are running a bit late usually call to advise you.
Unless youre selling your home by yourself, it is also ideal if you discreetly remove yourself from the premises when the agents are showing off your property. Although it is understandable that you would want to see the reaction of the buyer, buyers may feel uncomfortable when youre around. They many not be able to ask the agent questions about your home, nor feel free to open doors, windows, even lights. If youre doing the selling, you may open and close doors yourself and naturally, answer their questions. However, try to keep your distance. Give your guests privacy and let them explore the place on their own.
As a home seller, it is also important that you remain slightly impersonal in your dealings with clients. This does not mean that you would act like a robot to your guests. It simply means that you should avoid bringing up your opinion on controversial topics such as religion or politics.
It is also advisable that you keep your pets away from the guests as they may be frightened by your friendly Labrador or may find the distinct animal aroma your pet emits offending.
Finally, for your own safety, try to know as much about the potential buyer before you allow them inside your home. You can verify the details they have provided (phone number, email, etc), by making a return call or sending them an electronic message. It is also ideal if you could have another person oan site when you are showing off your home. If this is not possible then make your guests enter the home (and the interior rooms) first and situate yourself by the door at all times. This way, you can easily run off if something goes wrong.
Most people get Real Estate wrong for two simple reasons.:
1. They don’t understand the difference between an asset and a liability
2. They don’t understand the difference between investing and speculating
The broke majority live under the misguided belief that their family home is an asset. An asset by definition is Something valuable that an entity owns, benefits from or has use of, in generating income. The key is the words generating income. By that definition your home is not an asset, it is a liability. It does not generate income, it costs you money.
The broke majority will borrow as much as they possibly can, to buy the most expensive home they can afford, in the mistaken belief that this is a good investment. In fact they are are burdening themselves with the worst kind of debt. Long term, expensive, non-deductible debt that produces no income in return. The same kind of debt that lead to the housing collapse in the USA.
Successful investors understand this crucial point. Your home is not an investment.
The Business Dictionary defines an investment as Money committed or property acquired for future income. Now some will argue that an investment doesn’t have to produce an income and cite as an example gold bullion, collectibles or share futures contracts. By definition, none of these are investments, they are items of speculation. They can go up in value or, just as easily, go down. You are speculating on the future trade-able value, not investing in the inherent value of the income an asset represents. Tens of thousands of homeowners around the world discovered in 2009 that home values can fall and can fall dramatically and disastrously.
If you buy a house to live in with no income return expected from it, but in the hope it will increase in value, you are speculating not Investing.
If you buy a house to rent out, you are investing. The Australian government has long recognised the difference and that is why they allow you to claim the expenses relating to a rental property, including interest payments, as a tax deduction but do not allow any deductions for expenses incurred in buying a house to live in. In other words, the government is willing to share the risk of investing in income generating real estate because the risks are lower than tying up your money in your home.
Smart investors have a small or no mortgage on their own home and the majority of their borrowings are for rental property because that is the lowest risk strategy. They also get the best advice they can on quickly reducing the mortgage on their home.
Being the part of the NCR and a major industrial hub, Noida witnesses a thriving real estate market. Along with industries, Noida is also the major target of world renowned corporate sector. The emerging BPO and the software sector find the place to be apt for spreading their business. This has resulted not only the growth of the commercial realty sector but also the residential realty developments to provide homes for the growing number of urban professionals and business executives.
Whether to get your own home or simply to receive bulk investment returns, to buy property in Noida is indeed a good idea. As an investor, if you are waiting for the right time to buy property in Noida, this is perhaps the right time. The Noida property prices are appreciating, you are sure to get high returns in future.
To buy property in Noida, you would get wide choices. This can ultimately confuse you. The following tips to buy property in Noida, can help you to great extent.
Tips to Buy Property in Noida
Check the legal feasibility and due diligence in the property. If you don’t and if the property happens to have legal issues, this can put you into trouble in future. To avoid such consequences, you are advised to under go a thorough property check with respect to legal terms and conditions.
Visit the site. This would help you to get the idea of the locality where you are going to stay in future. Make sure the place is safe for you to reside peacefully. Check out how long it exactly takes to reach the nearby markets, malls, bus stops, educational institutes, hospitals and such. Take a test drive from your new home to your office and gauge the traffic you would face.
Note down the track record of the developers. This is very important. Often many investors have to wait for long to get the property possession even after payment. Make sure you do not fall in such traps. Go for a renowned builder if you are looking out for a hassle free property transaction process.
Check the correct value for money pricing of the project. Research on the prevalent Noida property prices before you buy. Either you can take help from your friends and associates or simply browse the internet to get the idea.
The Noida property dealers are quite useful. But before hiring make sure you are not a target of any fraud.
The real estate scenario looks gloomy in the current scenario, but a couple of cities are sure to stay ahead of the rest even in the current scenario. Pune, one of the hottest real estate destinations will continue to see stabilized prices and an appreciation in prices in the long run. There are various reasons that can be attributed to the growth of the city.
Pune is a commercial hub with dominance of industries including IT andITeS, Automobiles. Petrochemicals. Oil and Gas, Engineering. Financial Services, Textiles. Companies have displayed a brilliant growth within the city. The city is centrally located and makes fro a good hub for manufacturing companies. Swanky office buildings host the biggies of the word like Mercedes Benz , GM and many more. This has led to extensive commercial development in the city. Infact, companies from other sectors also eye the city including Biotech, Hospitality etc
Some of the advantages of being in Pune real estate include the following
Pune is the second largest city in Maharashtra and sixth largest city in the country with a population of 7.2 million people with a high purchasing power. It is also a prominent education centre. The city has over 100 colleges and institutions of higher learning including 14 Engineering Colleges and 10 B-Schools. A large number of ITI s provide the necessary shop floor skills. Scientific institutions and the substantial presence of IT companies assure a supply of high quality knowledge base.
Pune is also emerging as a prominent city for BPO due to the availability of skilled English speaking manpower. The city houses a large number of national and international players including Tata Motors, Bajaj Auto, Daimler Chrysler, Fiat, Bharat Forge, Tata Consultancy Services, Infosys and Wipro, among others. It has 12 focus industry areas including automobiles, chemicals, consumer durables, engineering and Information Technology.
The commercial property development of the city can largely be attributed to the state, Government and the infrastructure. The advantages of being in Maharashtra include the following. It is the largest economy in the country, with a high per capita income and one of the most attractive investment destination in the country, accounting for 40 per cent of exports. This has also fostered the presence of reputed R&D centres in the city.
The IT presence in the city is largely attributed to the bold and visionary IT policy. Initiated by the State Government, it is responsible for attracting companies to set up shop in the state. The Policy includes exemption for IT units from various taxes and duties, permission to set up units anywhere in the state without restrictions, setting up of Special Export Zones and various other government initiatives to boost the IT culture within the state. Software Exports: Maharashtra accounts for more than 30 percent of the countrys software exports, with over 1,200 software units based in the state, thus providing a familiar and friendly environment for IT companies.
The government of Maharashtra has undertaken the ambitious project of developing the Mumbai-Pune Knowledge Corridor, thereby creating a natural home for companies from all over the world, seeking to set up their IT or ITES activities in a safe, business-friendly and progressive environment with world-class facilities and infrastructure, with a long term perspective.
Committed huge investments in the state include Boeing Rs 500 crore (Rs 5 billion) in Nagpur Volkswagen, Rs 2,350 crore (Rs 23.5 billion) in Pune, General Motors Rs 1,350 crore (Rs 13.5 billion) in Pune, Bajaj Auto Rs 2,000 crore (Rs 20 billion) in Pune/Aurangabad, Hyundai Heavy industries Rs. 260 Crores in Pune, Mahindra & Mahindra Rs. 2000 crores in SEZ, Microsoft and Videocon.
All of the above reasons are sure to be the reasons for continued growth in the city for years.
Residential real estate at Pune is all set to create new benchmarks. To cater to the residential demand in the city, Pune needs almost 40,000 residential properties every year to meet the housing demand in the city. Thus, the Public Private partnership will create a new city sky line.
The upcoming residential areas include: Kalyani Nagar, Kawade Road, Hadapsar, Thergaon, Ambegaon, Balewadi and Wagholi among others.
Thus, jump into the Pune realty bandwagon and search for a house to invest or live in. To find that dream property, it is recommended that you search online and find your options before getting on the ground. Thus, you can save precious time and money. With the prices just stabilizing, it is an opportune time to get that house you have always dreamt of.
CRISIL Research expects divergent price trends during the year in Mumbai and NCR (National Capital Region), the two largest residential real estate markets in India. In 2011, prices of houses are likely to decline in Mumbai, whereas prices will rise marginally in NCR. Further, the extent of price decline will vary widely across areas in Mumbai, whereas prices will inch up uniformly across areas in NCR.
CRISIL Research studied the price trend in three major supply pockets in Mumbai and NCR western suburbs (Goregaon, Malad, Kandivali and Borivali), Thane (Ghodbunder Road), and central suburbs (Dombivli and Kalyan) in Mumbai; and Noida and the outskirts of Ghaziabad and Faridabad in NCR.
City Reality reports offer an in-depth, area-wise analysis of residential, commercial and retail segments covering 400+ areas across 88 micro markets in 10 Indian cities. Read the real estate developer ratings at CRISIL that has developed two specialized products with their real estate research that help housing customers and financial institutions understand the intricacies.
Accounting for more than 50 per cent of total planned supply in each city, these major supply pockets would represent the trend in housing prices in the whole city. Mumbai and NCR would together account for more than half the 1.5 billion sq ft housing supply planned in India’s 10 leading cities up to 2013.
In Mumbai, falling demand, owing to diminished affordability, and rising interest rates will trigger a decline in prices in 2011. Prices of houses soared by 43 per cent in 2010, in the city’s three major supply pockets. Prices thus surpassed their peak values, attained in the first half of 2008, by 26 per cent, adversely affecting housing affordability. CRISIL Research therefore expects prices in Mumbai to decline by 8-10 per cent in 2011.
In NCR, prices will move up marginally because of relatively better affordability. Prices went up only by 6 per cent in 2010 in the capital region’s three major supply pockets. Prices in these areas currently are 15-20 per cent less than their peak values in the second half of 2007, making affordability relatively better in NCR than in Mumbai. CRISIL Research therefore expects average prices in the region to move up marginally by 3-4 per cent in 2011.
“Reduced affordability and a likely increase in interest rates by the Reserve Bank of India will subdue demand and depress housing prices in Mumbai in 2011. In NCR, relatively better affordability will prop prices despite any increase in interest rates,” explains Nagarajan Narasimhan, Director – CRISIL Research.
In Mumbai, the extent of the price decline would vary widely by area. Prices in premium locations like South Mumbai and Central Mumbai, which have an excess supply of houses priced at more than Rs 50 million, would decline sharply by 15-20 per cent over the next 12 months. Prices will decline more moderately, by about 6 per cent, in areas like Vasai and Virar, where affordability would be relatively better. In NCR, with prices increasing marginally across all areas, the trend, again, will be divergent.
No matter what profession you are in, you will be impacted by real estate in some form or another. Whether you own, rent or sub-let, your life is impacted by real estate and the professionals or individuals that sell, manage or own it.
With that in mind, it would make sense that you just might be interested in people who have made it big in real estate. There are a select few in the entire world who have made their tremendous mark on the real estate landscape. Although, there were many struggles along the way, they arrived at that coveted spot of being a famous real estate tycoon.
Sarah Beeny is a developer and a host of Property Ladder, a British television program in the U.K. Beeny is a die-hard optimist and proponent for incorporating energy efficiency into building or remodeling.
Tim Blixseth is an American real estate mogul and billionaire businessman. He made a promise early on in his investment life to only collect assets, not liabilities, for the remainder of his life. He says he’s stuck to that promise.
Donald Bren, according to Forbes.com, is the wealthiest real estate tycoon on the planet with a $12 billion net worth. He currently owns hundreds of office buildings, along with 90 apartment complexes.
Conrad Hilton is the founder of Hilton Hotels. Hilton was known as a tremendous philanthropist who believed charity was a basic requirement for humanity.
Stanley Ho is one of the richest people in Asia. He’s a Macau and Hong Kong billionaire and casino mogul.
Lee Shau Kee is recently most famous for losing around $8 billion in net worth just in the past two years. Even with the huge losses, Kee continues to be noted as a real estate magnate as owner for Henderson Land Development. China’s greater region still considers Kee as one of the area’s richest people.
Ray Kroc is a entrepreneur who founded the McDonald’s Corporation franchise. Kroc purchased all rights to the McDonald’s name from the founding brothers Richard and Maurice McDonald. He took the franchise internationally to Japan and Germany in 1971.
Akira Mori is a famous Japanese real estate tycoon and billionaire. He’s one of the richest men in the world. President and CEO of Mori Trust, his family’s company owns real estate and hotels in Tokyo and all over Japan.
Minoru Mori is also a famous Japanese tycoon and billionaire. He and his brother Akira are sons to Taikichiro Mori.
Donald Trump is a famous television celebrity and billionaire real estate developer. Although his investments fluctuate with the waves of the sea, he always seems to come out on top.
Steve Wynn is a well-known Las Vegas casino and resort developer who developed some of the most opulent casinos and resorts in the City of Las Vegas.
Sam Zell’s net worth exceeds $6 billion. He is ranked 68th on Forbes’ list of richest Americans. He co-founded Equity Group Investments LLC that launched Equity Residential and Equity Office Properties.
Ranchi is the capital of a decade old state, Jharkhand. Jharkhand is known worldwide for housing first private Iron and Steel Company of India, Tata Steel. The most industrialized cities of the state include Jamshedpur, Bokaro and Ranchi and so, they attract a lot of migrant population from various regions. This migration has cultivated growth of real estate in Jharkhand.
Ranchi, being the capital city, is witnessing huge growth in its real estate sector with high investments pumping in. Real estate in Ranchi is soaring high with property prices growing almost five times in last five years. The investments by real estate developers and land owners are already bearing fruits with reaping of such great returns. Depending on locality, the rates of property, today, varies from Rs. 1,200- 1,700 per square foot in comparison to Rs. 400-500 per square foot five years ago. The hike in prices is proving expensive for locals but government is taking steps to ensure that they do not face the brunt of these developments.
Jharkhand State Housing Board is planning to develop various residential and commercial space establishments jointly with private builders of the area. The construction of various multi-storied apartments and commercial complexes is in pipeline across the state with Ranchi alone in possession of 19 plots. Since, government plans to develop Ranchi real estate in collaboration with private players like Parsvnath Builders, huge investments in this sector can be foreseen. The most interesting feature of the city is its natural beauty full of surging hills, little streams, calm lakes and brooks that together form a picturesque sight. It has retained its traditional touch in spite of moving towards modernity swiftly with large number of developments taking place. Beautiful waterfalls and rich tribal culture are among its other major attractions.
The tremendous growth in Ranchi has led to a boom in retail sector as well with leading retailers such as Reliance Fresh, Big Bazaar, Spencer, etc. opening up their outlets. Malls, five-star hotels and multiplexes are also under construction indicating the growth rate of hospitality sector. There is also a proposal for industrial expansion on 350 acres of land along with setting up of SEZs, educational institutions and healthcare facilities. The growth in IT industry and tourism activities has high potential for bringing in the economic boost in the city.
The vision set for Ranchi is to make it a model capital city and 6Rs (of Redevelopment, Rejuvenation, Rehabilitation, Restoration and Preservation, Restructuring and Reforms) have been set in this line. The population of the city is expected to reach 15 lakhs by next year and the government seems to be all geared up to word towards making Ranchi a symbol of progressive Jharkhand. It has come up with a City Development Plan (CDP) that identifies land for new sub cities which would require 6400 hectares of land in order to accommodate growth till 2021. In addition to this, strengthening of management systems for urban planning, disaster mitigation, environmental management and management area also needs attention according to CDP. The government is also focusing on improving other amenities related to water supply, sewerage and sanitation, solid waste management, storm water drainage and urban transport. It is also chalking out plans for heritage conservation and tourism development, disaster management, effective urban governance, basic services to the urban poor, sustainability of investments and various other important issues.
With such commercialization of the city and improving living standards, Ranchi is gaining its position as a lucrative investment option. The positive push to both residential and commercial sectors has largely benefited the real estate of Ranchi.
Delhi has always been the most sought after real estate destinations of India. In recent years, Delhi property market has witnessed an exponential growth rate due to immense improvement in the transport system, expansion of Delhi Metro Rail and the commencement of 2010 Commonwealth Games in the capital. A real estate consultancy had recently rated New Delhi as the 16th most expensive real estate market of the world and one of the costliest retail destinations in India. The demand for real estate development is expected to remain robust across Delhi real estate market due to a huge demand from IT/ITES and other various sectors.
Delhi residential property market has witnessed immense growth because of huge demand for housing from various sectors. South Delhi is one of the most happening housing places in Delhi real estate market and the rental values of residential properties like the flats, villas and duplex houses are extremely at higher end.
Delhi, the national capital of India is one of the hottest destinations for investors. One of the main reasons why Delhi is an investors priority is due to its good connectivity with most of the cities in India other than the best connecting city to all international airports. The property prices in Delhi in the recent times have been quite exorbitant.
Due to all these reasons, the prices of property in Delhi increased exponentially. But with the slowdown, one can see the rates for both the commercial and residential properties coming down.
Delhis Khan Market has also been in the news recently for being one of the costliest retail locales in the world.
Till some time back, in the residential market segment, Delhi has been known to have made the most exorbitant transactions as properties have been sold for millions. This trend which was earlier common in the posh localities of South Delhi is now moving towards earlier less significant places like Dwarka. These days, the rental values of residential properties like the apartments and independent houses are quite high.
Property rates in Delhi:
Apartment rates in Delhi:-
Central Delhi Rs 7, 500 to Rs 28, 000 per sq ft
East Delhi Rs 3, 000 to Rs 6, 000 per sq ft
West Delhi Rs 4, 000 to Rs 10, 000 per sq ft
North Delhi Rs 5, 000 to Rs 8, 000 per sq ft
South Delhi Rs 3, 500 to Rs 12, 500 per sq ft
Builder flats rate in Delhi:
Central Delhi Rs 2, 700 to 18, 000 per sq ft
East Delhi Rs 4, 000 to Rs 10, 000 per sq ft
West Delhi Rs 5, 800 to Rs 13, 000 per sq ft
North Delhi Rs 5, 000 to Rs 14, 000 per sq ft
South Delhi Rs 4, 000 to Rs 28, 000 per sq ft
Plot rates in Delhi:
Central Delhi Rs 80, 000 to Rs 5, 00, 000 per sq ft
East Delhi Rs 25, 000 to Rs 1, 00, 000 per sq ft
West Delhi Rs 1, 00, 000 to Rs 2, 00, 000 per sq ft
North Delhi Rs 70, 000 to Rs 2, 50, 000 per sq ft
South Delhi Rs 75, 000 to Rs 4, 00, 000 per sq ft
Rental Values in Delhi:
Apartment rental values (2 Bedroom Hall Kitchen) of Delhi:-
Central Delhi Rs 8, 000 to Rs 50, 000 per month
East Delhi Rs 5, 500 to Rs 13, 000 per month
West Delhi Rs 3, 000 to Rs 10, 000 per month
North Delhi Rs 5, 000 to Rs 15, 000 per month
South Delhi Rs 15, 000 to Rs 35, 000 per month
Builder flat rental values in Delhi:-
Central Delhi Rs 10, 000 to Rs 60, 000 per month
East Delhi Rs 4, 000 to Rs 40, 000 per month
West Delhi Rs 10, 000 to Rs 20, 000 per month
North Delhi Rs 6, 000 to Rs 30, 000 per month
South Delhi Rs 8, 000 to Rs 1, 50, 000 per month
These are the latest rates and rental values of highly potential realty market of Delhi. Being the national capital, the city boasts of a lucrative real estate market. The city has a lot to offer both to sellers and buyers.
Contingent on who you question, you will find varying viewpoints on when and how the Canadian housing market will cool down from its recent meteoric climb. For instance, TD Bank economist Pascal Gauthier bluntly stated in an interview with “Globe and Mail” this month that even though housing prices will carry on increasing by 9% over the 2009 figures until the middle of 2011, they will then sharply fall — possibly as low as 2.7 percent. But economist Sal Guatieri of BMO Capital Markets is somewhat hopeful, telling “The Montreal Gazette” that the overvaluation that resulted in the real estate bubble will just affect large cities, and should not bring about the kind of nationwide collapse anticipated in the US market. However they both agree that the Canadian housing sector will need to cool down, but just how soon it will take place and how quickly it will fall is the question still up for debate.
Guatieri indicated that the price for a family residence should be “about four or five times income,” however the current market in Toronto and Vancouver is closing in around $700,000, which averages 10 times the earnings of the home owner. Even though TD Bank had at first forecast 1.6% gains in 2011, this kind of real estate hyper inflation in the middle of economic recovery has in fact compromised the market, and they are already seeing the signs of cooling this year derived from the surge of new housing starts and new listings. places like Mississauga are still seeing an escalation in new Mississauga condominiums but sales could start to cool.
In their discussion with “The Vancouver Sun,” TD admitted that their forecasts have been off in the past, because their late 2009 forecast did not anticipate the rise in first quarter sales for that year that was an unpredicted “move by buyers and sellers to pre-empt regulatory and interest-rate changes”. The looming harmonized sales tax due to take effect in July in Ontario and British Columbia definitely impacted markets in those provinces. In expectation of this July time limit, the Bank of Canada has now declared its intention to lift their overnight target rate by July to counterbalance the recent record breaking low rate of 0.25 percent. Higher borrowing costs should act on cottage country with deduced values for places such as Wasaga Beach real estate and this could constitute an opportunity for buyers.
As family incomes catch up with the level of inflation — a whopping 8 percent over the past 8 years — TD predicts that overvalued housing prices will continue to fall from 15 to 10 percent by the end of next year. This is bolstered by a decline in MLS sales, that as well includes Toronto MLS listings, over the last 6 months that the Canadian Real Estate Association has observed. But everyone can spot signs that the whole housing market has been affected by the high percentage of boosted values in the cities — how far this influence will spread is the primary question.
Gauthier describes his forecasts are a consequence of the “stronger supply response,” and that the “market balance is now expected to be somewhat softer next year, consistent with market conditions more favourable to potential buyers and a mild depreciation in home values”. But Guatieri thinks the approaching slow down period does not automatically mean that housing prices will indeed fall, however predicts it as a gentle adjustment after the recent surge. One fact both Guatieri and Gauthier do foresee on the horizon, though, is that regardless of when it strikes, the calming trend will not last forever, and inside of 3 years the average real estate price in the country should find a equilibrium and return to its fair market value.
KTAM Aims to Become Thailand’s Leading Property Fund,Increasing Assets Under Management to 11.3 Billion
The Bangkok Post reported on Thursday, 22 February that real estate investment in Thailand soared by 81.8 percent to $2 billion (1.3 billion)in 2012, nearly double the $1.1 billion (720 million) in 2011, as property funds markedly increased their investment activity.
According to property consultant DTZ, Thailand’s real estate market was boosted by the listing of major property funds and a high number of acquisitions, particularly in the office and hotel sectors. Some $1.1 billion (720 million), or 55 percent of total real estate investment, came from transactions by real estate funds or public funds for public offerings (PFPOs).
Investment activity received a major boost from the listing of Tesco Lotus Retail Growth Freehold and Leasehold (TLGF) in the beginning of January 2012, which proved to bethe largest property fund listing for the year. The $594-million (389 million) fund purchased 17 Tesco Lotus shopping malls in prime locations across Thailand in a deal which by itself exceeded half of the real estate investments in the country in 2011.
Other notable property fund investments in 2012 included the purchase during the first quarter of three serviced apartment complexesand residences for $106 million (69 million) by the listed Land and Houses Freehold and Leasehold Property Fund (LHPF). Additionally, the Quality Houses Hotel and Residence Freehold and Leasehold Property Fund (QHHR) bought three Centre Point serviced apartments in the third quarter, for some $107 million (70 million).
KTAM Eyes Real Estate Market
Krung Thai Asset Management (KTAM) has the ambition to lead the market in property funds and,more specifically, to increase its assets under management by 20 percent in 2013 to 516 billion baht (11.3 billion), said chief executive officer Somchai Boonnamsiri, citing the positive overall investment climate.
The Bangkok Post reports that Thai billionaire Charoen Sirivadhanabhakdi plans to raise funds through the funds managed by KTAM, with the subsequent capital increase being dedicated to turning KTAM into the global leader of this type of fund.
KTAM is considering entering new markets including Mexico, Brazil and some European countries. Annualised return for short-term investments in these regions is forecast at 3.5 percent or about one percent higher than returns in the Thai domestic market.
The Thai fund intends to boost the capital of property funds under the direction Sirivadhanabhakdi’s TCC group to as high as 50 billion baht (1.1 billion) this year. The fund also plans to launch ETFs on the Stock Exchange of Thailand in sectors such as food, energy, ICT and the commercial sector.
2013 will be the last year in which Thailand’s Securities and Exchange Commission will allow investments in what has been known as property type 1, with introduction a new type of property fund, the internationally recognised real estate investment trust, set to replace the old structure.
In recent years, the real estate industry has changed dramatically.
With the advent of new technology and more home sellers and buyers using the internet before selecting a real estate agent those who have not kept up with the times and technology are destined to fall behind the leaders.
Take for example the concept of real estate teams. Most industries have utilized team concepts to their advantage for years: corporate departments, sports, small businesses all utilize the team concept for growth and profitability.
The real estate industry however has historically placed real estate agents as sole entities, training them to be stand alone islands left to their own devices and abilities.
However, in recent years this ‘old school’ training has slowly been side stepped by some of the most profitable and top producing real estate agents in the country.
By realizing and implementing team concepts into a real estate agents business, these agents can provide substantial benefits to their customers’ traditional methods lacked.
Let’s examine a few of the benefits of being on a real estate team…
Marketing and advertising
Teams utilize shared expenses in marketing and advertising to a much greater degree due in part to having additional resources by way of more agents as well as an increased visibility in the communities.
Stand alone agents must pay for all marketing and advertising costs themselves with little assistance from the brokerage. It is up to the individual agent to market and advertise properties for sale using their own limited funding.
With teams, agents do not have to fund the advertising costs alone. Having more agents available to share the costs greatly decreases an agents cost outlays and increases their profitability.
In addition, sellers can be assured that their property will reach more potential buyers. More potential buyers in turn may mean quicker sales and often times better realized profit.
Let’s not forget about our buying customers who also benefit greatly from the real estate team concept. Regular team meetings to discuss customers’ wants and needs may often present opportunities missed by the solo agent.
More minds working on a task tends to produce better results!
Experience and training
Teams benefit not only from 1 agents experience, but the combined experience of the entire team.
This aids the individual agents by having insight and experience to draw on for help in problem solving and working with difficult property issues as they arise.
Having a larger ‘pool’ of experience to draw on provides agents with less experience increased training opportunities in a much quicker time frame.
The real estate business experiences business peaks and valley’s through out the year depending on locality.
During the busiest times of the year some agents may not be able to provide the support and services which they normally provide due to the number of customers they’re working with at one time.
On a team, this is never the situation as there is always someone on the team that can lend a hand, provide support, show customers properties, write contacts etc.
Fun and Camaraderie
Teams tend to be much more fun!
Think about this a moment: If an agent is working alone, they may be able to visit and entertain with a few other agents in their office when not busy.
However, with a team you get the closeness of friendship and support that only a group of like minded professionals enjoy.
Team events, dinner parties, team meetings etc. all lend themselves to additional fun for the agents providing the ability to relax and share good times with others.
While many agents continue to employ the ‘old school’ traditional techniques in running their businesses, the more successful agents employ the team concept to provide increased customer services, reduced costs to team agents as well as increased profits to sellers and agents alike.
Growing a productive team is a key ingredient in running a successful real estate business in today’s market.