26 Sep

Why is it Good To Get Your Property Renovated?

A lot of Port Moody Realtors do not understand the importance of getting their investments renovated. It is a common notion that a property if sold without spending any money on maintenance and repair makes a good deal. It is not true though as there are many things that should be considered other than the profit you make on one property.

Here are certain reasons that should make you see how restoration of your investment would mean more gains despite spending more money. Spending more money doesn’t mean making more money, might as well buy a Daniel Wellington watch for yourself.

Increase In Property’s Value

Getting a house renovated automatically increases the value of the property. When talking about any restoration of property, it is important to note that properties that are already well kept do not need much work and so you will not have to spend too much on them and yet get an increased selling profit.

The other scenario is that you bought an absolutely run down place that needs to be brought up for sale. If the locality and other proximity related factors are covered, the property could be sold for almost double the price with creative renovation work. Whoever is going to buy a rundown place from you is not going to pay you a good amount in any case.

Better Renters

With a property that looks well kept and maintained, you are sure to attract good tenants for the place. By good, it is meant that they will be the kind who can pay higher rent and can pay on time. A run down place on the other hand will only draw tenants who might not be able to pay on time or on the expected price lines.

Reasonable Expenses

The most important reason for getting a remodeling for your old and broken newly bought property is that it does not cost as much as is usually projected. With some smart arrangements you will be able to get it done at a reasonable price that will suit your overall budget.

Tax Deductions

If you spend money on renovating your investment property, there are certain tax deductions you are entitled to. You should start by contacting a professional before you start. He or she will let you know clearly how much you should be shelling out.

In any case you are in the real estate business for long term. Building your name for lasting business relationships should be more important to you than a few thousand dollars in your initial years.

26 Jun

Marketing for Real Estate Agents – 4 Tips to Be Successful

Marketing can lead to a lot of expenses, when it is not working. Lots of real estate agents, especially those who are newbies, tend to stay away from any type of advertising or marketing as they are not sure which ones would work for them. But when done rightly, a marketing campaign can work wonders for any real estate agent and serve to make him a viable name in the business.

Read on to get 4 tips that can this Burnaby realtor used to become successful!

Have a great marketing message

Do not concentrate on creating a catchy slogan or jingle. A marketing message should be smart and establish your own identity in a few seconds. It has to convey how you can help clients save money and time in looking for real estate properties when they choose your service. It should be something on the lines of “Get Your Home Sold in 2 Months Flat, or Get Money Back”. However, do not make tall promises that you cannot keep. Offer only what you are capable of, and it would be enough to get calls pouring in.

Personalize your marketing campaign

In other words, you should focus on your strengths and use them to your advantage. For instance, if you have good network in one or more particular areas, you should base your marketing campaign around those regions. A proper understanding of your strengths and using them to your advantage will help you to choose a type of marketing campaign which can make the most of your strengths.

Adhere to the 7% rule

Marketing campaigns can be quite costly, and you should set a specific budget in order to avoid wastage on mistakes. The prices of real estate properties tend to go up and down across the nation. Naturally, you should not spend over 7% of your total commission amount on any one type of marketing. You need to get back minimum of 1% of the transaction money with every 7% you invest. Once you choose a marketing campaign which goes over the 7% of standard transaction commission, you will find it more difficult to profit from the campaign.

Use low-cost marketing ideas

It is a misconception that marketing campaigns have to be costly in order to make an impact. Even with low-cost ideas such as self-made videos, memes on social networking websites, website and intelligent tweets and posts, you can have good success.