Selling Residential and Commercial Property: 5 Valuable Tips to Remember

Whether you are selling your own property or selling properties for other people to earn money, there are important ways to go about it. Often, the same rules apply to residential property and commercial property.

So, if you want to know how you can seal the deal, here are five valuable tips to remember:

1.       Know what you’re selling.

Just like any salesman, you have to know what you’re selling. You can’t just upload a photo of the house, put a description and that’s that. Selling property requires knowledge from you, knowledge that you can use to entice a buyer to buy that property you are selling. Know the facts. Never appear unsure to a buyer.

2.       Get the right photos.

If you’re selling property online, make sure you have high-resolution photos. If you have the extra cash, hire a professional photographer to take great shots of the property. Every buyer looks at the photos closely and if they like what they see, that’s one step closer to sealing the deal.

3.       Make sure the property is presentable.

When a buyer is interested in the residential property or commercial property you are offering, they’d ask you if they can see the place personally. Of course, you will oblige. Make sure the property is presentable. There shouldn’t be trash lying around and there shouldn’t be any clutter either. Remember, first impressions always last and you need to nail that.

4.       Be open to negotiations.

Sure, you may already have a price in mind and you’re committed to getting an amount of commission or ROI. The problem is, if you’re not open to negotiations, the buyer may just think twice about dealing with you. In these situations, buyers and sellers should have an open mind. The ideal solution is for both parties to come up with a deal that will be fair for both.

5.       Get the paperwork ready.

When selling property, you must prepare all the paperwork already in case a sale happens. Nothing is more inconvenient to a buyer than having to wait for the seller to fix the paperwork. The cash is ready, but you aren’t. As a result, you can lose the sale. When selling residential property or commercial property, there’s no time to waste so you should always be ready.

Keep these basic tips in mind the next time you post an ad online. Selling property isn’t easy, but isn’t hard too. As long as you get the basics right, you’ll be selling residential property and commercial property left and right.

Tam Bay Realty LLC

1408 N West Shore Blvd Suite 1000 Tampa, FL 33607

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com

Selling Property: Asking the Professionals

Making your property attractive is the 1^st step you need to take if you want it to get sold. And in order to attract attention and to make your home more memorable, you may consider adding  custom designs such as landscaping, high-grade windows, or a new roof. Improving commercial or residential property aesthetics not only increases home attractiveness to buyers, it also adds market value to the home.

There are two possible ways on how you could sell residential property. First, auction by nature creates urgency as there is a definitive time in which the buyer must act or they risk losing their opportunity in buying or selling property. Setting an auction date, groups all interested buyers together at the one time, creating a competitive environment and the greatest chance to achieve the highest possible price. Second, sale of residential properties by private treaty requires the seller to set a price from the beginning of the campaign. Your agent can help you with this process. Many sellers have a tendency of initially setting a higher price as they think buyers are likely to negotiate the price down.

The rules of the game change when it comes to selling a commercial property. The biggest difference lies in the way each is valued. Far more weight is put on the income of a commercial property, whereas residential property values are generally determined by neighboring comparable sales. Income on commercial property is directly related to its usable square footage. That's not the case with individual homes. You'll also see a bigger cash flow with commercial property. The math is simple: you'll earn more income on multifamily dwellings, for instance, than on a residential property.

Know also that commercial property leases are longer than on residential property. On the other hand, in residential property, make sure a full detailed financial appraisal is undertaken, precisely identifying the likely gross revenue of the scheme the property could accommodate, total costs and level of profit expected by the market.

By and large, finding and evaluating commercial and residential properties is not just about farming neighborhoods, getting a great price, or sending out smoke signals to bring buyers to you. It takes great skills to sell a home. If you don’t have what it takes, never hesitate to seek the help of professional real estate agents as they will make your sale a lot easier.

Tam Bay Realty LLC

1408 N West Shore Blvd Suite 1000 Tampa, FL 33607

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com

Getting to Know Your Real Estate Appraiser

The refined, intuitive skills that consumers apply to most goods and services are the product of years of experience comparing the prices and quality of various commodities. These skills are often lacking when it comes to decisions for residential and commercial property, and are not equal when it comes to Real Estate Appraisers. The purchase or sale of residential real estate may be one of the largest financial transactions a person will ever make, so the reliability and competence of the appraiser are especially important. Evidence and assurance of ability and experience should be a top priority to users of the appraisal product.

A good real estate appraiser will readily provide this documentation. Copies of licenses are commonly requested by mortgage brokers and loan officers. Once you get a copy of the license, it's a good idea to check with the government agency which issued the document to ensure the license is active and in good standing. A key question to ask prior to hiring a real estate appraiser is whether or not he or she is licensed. Also find out what type of license the appraiser has. There is a certain level in which an appraiser may appraise real estate subject to limitations regarding commercial property and value than residential property. A Certified General Real Estate Appraiser is a comprehensive level of licensure which qualifies the appraiser to appraise any and all types of properties.   The training and educational background should be a consideration prior to hiring the appraiser. The state is continually increasing the educational and training requirements of appraisers and if the state finds it important to continue increasing these requirements it must be an area of concern. Prior to the state and federal government getting involved in the licensing of appraisers the Appraisal Institute was training and educating appraisers. 

A Trainee may need to have the appraisal signed by a standard/certified/ or general license. Once you find a real estate appraiser hang around while he's doing the job. Watch what he's doing and feel free to ask questions about residential property selling and commercial property costs. Be sure to ask for a copy of the appraisal. Unless you hired the appraiser yourself you won't automatically get a one. If the bank hired the real estate appraiser then the bank is the client, even though you're paying for the appraisal. By law you have to be given a copy if you ask for it; even just for your assurance.

Tampa Bay Realty LLC 

1408N West Shore Blvd Suite 1000 Tampa, FL 33607 

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com

Residential Property or Commercial Property: The Better Investment

For every buyer and seller in the real estate market, there’s a reason behind why they choose to buy or sell a property. But for the most part, it’s all about making an investment or getting a return for their investment.

If you’re someone who’s looking to invest in real estate, you will have to decide between buying a residential property or commercial property.  Each one has its pros and cons. Take a look at each of them to make a smart investment decision later on.

Commercial

Commercial property is comprised of buildings and lands. Basically, you invest in this type of property to

earn profits. Commercial real estate is also called income property because you lease them out and earn from that. Retail space, offices, rental residences are just some of the income properties you can invest in.

When you invest in a commercial property, your ultimate goal is to generate profits from your tenant’s leases. There is also a risk involved here. You will have a higher start-up cost for commercial real estate. They are pricier and maintenance is more expensive too. Commercial real estate loans are harder to get too.

But the tradeoff is that if you do succeed, you can earn a lot from your income property. Just make sure to manage and maintain it properly. Further, you must also do your share in giving your tenants what they want.

Residential

Residential property is comprised of single-family homes and rental residences with 1-4 family homes. Condominiums are also categorized as residential real estate. The main reason why investors buy residential real estate is they want to become a landlord or they want to flip houses and generate a profit. House flipping is a term used when an investor buys a house at a low cost, fixes the houses (flipping) and then selling it for a higher price.

The main advantage of investing in residential property is the low start-up cost, specifically if you’re flipping houses. Now if you want to be a landlord, you can earn good money from your tenants too. The only disadvantage is the risk you will take if you don’t get to sell a flipped home quickly. Also, you will have to deal with tenant issues, which can be very stressful.

What are you leaning towards, residential property or commercial property? Pick the type of real estate that will suit your experience and selling skills more. This way, you will feel more confident with your investment.

Tam-Bay Realty LLC
1408 N Westshore Blvd, Suite 1000,

Tampa, Florida 33607
(813) 908-0706

http://www.tam-bayrealty.com/contact-us/

http://www.businesslocallistings.com