Shopping Mall Leasing Strategies for Real Estate Brokers

The leasing of a shopping mall is a specific strategy relative to the location, the property type, the customer demographic, and the landlord. All factors come together to contribute towards a successful leasing outcome and tenancy mix.

It should be said that a successful leasing strategy will contribute towards the greater the benefit of the property. More customers will be encouraged to visit the property and purchase goods or services. On that basis retail leasing is quite special.

Here are some tips to help you with leasing a retail mall in today’s property market:

  1. Understand the vacancy factors that apply to the precinct or location. An excessive number of vacant tenancies will have an impact on market rentals and incentives. Check out the factors of supply and demand that apply within the region. Look for any new property developments that could have an impact on tenant movement and market rentals.
  2. Understand the types of incentives that can be offered by the landlord to attract tenants. Also understand the requirements of tenants when it comes to incentives in today’s market. Any vacancy that you have available for lease needs to be matched to the prevailing market conditions. That will include the rental types, and the incentives offered. The landlord needs to adjust to the prevailing market conditions. Get some details of comparable rentals and other properties nearby to help the landlord understand the packaging of their vacant tenancy.
  3. It should be said that a lease incentive cost should be recovered through the rental structure over the lease term. In other words, any money that is lost or offset in the incentive availability should be recovered by rental growth and escalation across the lease term. You can do this calculation through an assumption of market rentals and a discount cash flow calculation. The net present value of the deal can be compared across the duration of the lease.
  4. Successful leasing executives usually have a substantial database of retail tenants to contact. Any new leasing opportunity can be offered through the database to targeted tenants, anchor tenants, retail specialists, franchise groups, and other industry professionals. Any vacancy can be directly marketed to these groups through cold calling, direct contact, e-mail marketing, and direct mail.
  5. It is acceptable and normal to market a vacant tenancy through the generic media. That will involve newspaper advertising, and Internet listing. There are costs associated with that marketing activity and the landlord should contribute towards those costs.
  6. Most successful leasing transactions occur through the involvement of the leasing executive and direct marketing to the right people. I go back to the point that the database for each broker or agent is quite important to converting more commissions and listings.

It should be noted that any quality property in a good location will create good inbound enquiries. If you are selective with your property appointments and vacant tenancies, you will create more churn and activity in property leasing.

Immobilienmakler Heidelberg

Makler Heidelberg

Real Estate Advertising Ideas – 5 Unique Advertising Options

When building customer-base for real estate, success is not an overnight feat. It will involve a lot of hard work. Letting other people know of your business or about the property you sell does not totally mean that you have to place lots of text-based ads all over. You have to be creative to excite your potential buyers. Here are some tips for your next real estate advertising goal.

  1. Create a video walk through of the house. Take advantage of the technology offered by smartphones and drones. Using them plus your creativity, you can shoot at different parts of the house to present realistic view of what you are selling.
  2. Build free offers to collect email addresses. If you are observant, you probably can see that a lot of websites and blogs have pop-ups offering free trials, free newsletters, pdf downloads of articles, and a lot more. By simply filling out the electronic forms, users can give you email addresses which you can later use to send out your offers of real estate properties being sold.
  3. Be a resource person for local TV networks and radio stations. By being an expert person on real estate, you can actually gain the attention of local TV networks and radio stations. It’s like applying for a job but if you’re able to hook with them, you will have a great venue to advertise the properties in your portfolio. You can email them to send either a letter stating your endeavor or a short video presenting yourself as an expert and willing to be their resource person on subjects related to real estate.
  4. Take advantage of the trending internet memes. Admit it or not, you are also among the bunch of internet users who are enthused with the trending memes we see. They carry a range of graphics ranging from animation characters, Hollywood stars, animals, and a lot more. Depending on the graphics and the texts that go with them, they become instruments to send-off messages to those who see them. With this said, then you can have memes that actually persuade people to buy the property you are selling or call them to action to avail your services as a real estate agent.
  5. Have video testimonials done by previous clients. Go beyond the usual testimonials which are fully textual and placed on specific sections of the website or blog. Instead, ask for video testimonials from your past clients. Aside from presenting their real experiences, you present real people to potential customers.

Go unique. Go beyond the usual. Exhaust your creative juice to excite your clients. Real estate marketing is tasking and will need you to work your way to become a brand and an authority.

Immobilienmakler Heidelberg

Makler Heidelberg

Realtors Marketing Tools and Website Marketing – Why You Better Implement Them

As the home buyer becomes more computer literate the realtor needs to take advantage of this. You need to realize that more people are coming online every day and researching products before they buy. A home being the biggest purchase in most families lives will be searched online for reviews and comments. You are dealing with a more informed customer than ever before.

Realtors website marketing tools can consist of a no cost blog to advertise your services in a personalized manner. The cookie cutter sites given to you by the company you work just doesn’t accomplish this. Your blog can be updated with information about you and your potential clients can leave comments on it. This gives you the opportunity to get to know them.

Realtors marketing tools should also consist of article marketing. This can give you a higher ranking with the search engines. It will also give your credibility in your field.

These realtors marketing tools can be implemented at no cost to you. That means more money for your other campaigns and can save you money by bringing you targeted traffic to your site. Gone are the days of having to paint your face on your vehicle to gain exposure in your town. Learn the skill of website marketing now.

Whether you only work in the surrounding community that you live in or if you are a relocation realtor you can utilize these realtors marketing tools. As the average age of the home buyer becomes younger they will be more computer literate. If you don’t take advantage of learning your way around the web you may be left behind.

Immobilienmakler Heidelberg

Makler Heidelberg

First Time Homebuyers and Down Payment Assistance Programs

May 27, 2010 Down Payment Assistance Programs (DPA’s) for First Time Home Buyers By: Michael A. Foote, CMB

There is money available for first time homebuyers today. In a much needed addition to financing products available today, down payment assistance programs are available once again. Down Payment Assistance Programs are generally a local, state or federal grant or bond program designed to assist certain persons with certain income levels in certain areas, with money that can be used for down payment and closing costs on many purchase loans.

These tax free grants or loans are generally forgivable provided the buyer stays in the home for a designated amount of time. And these dollars can dramatically change the amount of money required for closing when these first time homebuyers buy a home. For example, a typically FHA borrower may have to come up with over 4-7% total of the sales price whereas a borrower with a WISH down payment assistance program may only need to bring in 2-3% total. That’s a huge amount of money on a several hundred thousand dollar transaction. If you amortize out that difference the savings are literally tens of thousands of dollars since most closing costs are financed in the new mortgage.

So what does the process with „DPA“ look like when compared to the regular loan process. Quite frankly, it’s seem less to the user insofar that the lender will generally have to deal with the additional hoops during the process. For the borrower/buyer they probably wouldn’t know the difference. The only real difference is a potential for a slightly longer loan processing time. So is DPA a good idea? Well, lately it has been a challenge for Realtors to get clients using FHA let alone FHA WITH Down Payment Assistance so an argument could be made that using DPA on an Offer to Purchase could be a determining factor for the seller’s side when these choose the offer to open escrow with. The only cure for this pitfall will need to be more product on the market for properties up to the $400,000 range as DPA generally have no purpose and no qualifying borrowers as the sales price rises and/or in areas of high per capita income. Undoubtedly, DPA has a place in today’s financing landscape and those of in the industry are happy to have it, it is one more additional tool to increase homeownership for low to mid income families. And this product will help sell the forecasted shadow inventory rumored to be lurking around the corner.

Only time will tell if that come to fruition or not. These programs are not free from abuse, there have been in the past scams related to DPA and officials, lenders, and large institutions have really scaled back what is allowable as DPA. Also economics play into the availability of these from all the time. There are many DPA’s completely drained of funds.

Immobilienmakler Heidelberg

Makler Heidelberg

What You Need to Know About Buying House in Summer 2018

The sunniest time of the year when sun is shining brightly is surely a great time for exploring new neighborhoods and visualizing future patio parties during viewings. If you are planning to buy home this summer then it is important to understand the housing market prior starting any serious shopping. You must have to know what housing market is like for buyers now and what you can do to end up the best home with best price that fits right in your budget.

Owning a home is an investment in your future and with that in mind you wants to make sure that you are making educated decisions so that you could get the best possible deal. Housing market in 2018 should be just as strong this summer as it’s been all spring. List prices and existing home sales have risen this year but there are perks to house hunting right now, too. We present you some of the facts and tips to help you get the most out of this year’s summer housing market.

SUMMER MARKET FACTS

DURING THE SUMMER PRICES DROP: Although summer is busy home-buying season but still it is not crazy as prices drop from May through October. Anyhow if you hang out until late August then you could find a really great deal-that is when nearly 14 % of listings get a price cut.

Private Mortgage Insurance Is GETTING MORE Reliable: PMI or Private Mortgage Insurance getting cheaper after PMI lenders MGIC and Radian lowered their rates this spring; it is great financing news for homebuyers. That’s going to cause most of these PMI companies to be competitive with each other which in result going to bring them all down. Less than 20 % of down payment makes the home buyers to get PMI. It means it will be cheaper for some buyers to get into homes sooner.

HOMEBUYING TIPS FOR SUMMER 2018

DON’T DISCOUNT OLDER LISTINGS: At the times when homes are flying off the market within days due to strong competition, it is easy to think a listing that’s a week or so old is a red flag. But keep in mind that it is not always the case. It is often because buyer got cold feet and pulled out of a deal on a perfectly good house. But thanks to the assumptions home buyers make about older listings in busy markets, the delay can cause the price to come down.

There are just more of these in market. The number of homes in market is shrinking but still there are 8.3 % more fixer-upper among them than there were six years ago. If you are dead-set against a fixer-upper to be prepared to move quickly then there is only ever going to be a couple of options at a time. And when new listings come up it’s going to be pretty ferocious.

GET TO KNOW THE NEIGHBORHOOD: The plus point of competitive market it gives you temptation to make an offer on any available property that fits your criteria but if it’s in the wrong neighborhood, you may never want to purchase the house. It is better to take some time and do community scouting before making an offer. You can even find out what your future neighbors have to say about the area by communicating with them.

MAKE THE STRONGEST OFFER: To stay in the market make the strongest offer, even your offer is not the highest because now is not the time for low ball-offer. No doubt, coming up with cash offer could be tough for many home buyers but there are some ways to make a strong offer that don’t require gobs of money. Substantial eventualities like a shorter closing or inspection period and writing a great offer letter can help make your offer stand out.

Immobilienmakler Heidelberg

Makler Heidelberg

Real Estate Statistics Explained

Basic Real Estate Statistics Explained

We are going to define some of the basic real estate statistics that get thrown around on a regular basis. To do that, we will use one real estate market, located in Hood County Texas. Even more granular, we will use the single family numbers for homes in Granbury Tx, a small town of approximately 8,000 residents which has seen substantial real estate growth in the past 12 months. It is important when reviewing real estate statistics to use a group of numbers large enough for consistency, but granular enough to tell your story.

The statistics that we will be referencing are true and accurate for the year discussed but are being used to define the real estate statistic itself.

We have chosen Granbury Tx as our example because the growth of the local real estate market there make the statics stand out.

Anytime you are evaluating statistics, especially in real estate, the source of the numbers are extremely important. In most instances, the MLS (Multiple Listing Service) provides the most accurate numbers when referring to real estate. This is because they have all listings by all local real estate brokers in their database. For the sake of explanation of the data, we will be looking at the numbers for home sales in Granbury Tx, directly from the MLS. These numbers are meant to give an example of how to read the statistics themselves. Anytime you evaluate real estate numbers, its important to pay close attention to how the numbers are gathered. In this instance, we will be using ONLY single family properties in the city of Granbury.

Basic Real Estate Statistics

  • Number of Sales – This one is pretty self explanatory. It is simply the number of single family homes sold in a particular month. In January of 2015, they had 51 single family homes sold. One thing to pay attention to when looking at this statistic is are they using the Under Contract date or the day the property actually went to closing. These two dates are usually between 30 and 60 days apart, so its critical that you know which one is being referenced. In addition, many of the homes that get calculated, if you are using the „under contract“ number may not actually close! In our example, we are using the number of homes that actually closed. In January of 2016 they had an increase of over 49% which brought the total to 77 from 51. Growth of that level is very seldom ever seen.
  • Sales Volume – Sales Volume is simply the total amount of dollars spent on single family housing within that month. Once again, when reviewing this statistic, its important to keep the property types consistent. If you are comparing two areas to see which one has grown more and you include vacant land in the number for one area, you must include it in the other too. As previously mentioned, our examples only include single family properties. With Number of Sales looking at the units, you would expect the Sales Volume to go up appropriately, but in this instance, it went up even more than the units (by percentage). The total Sales Volume of single family homes in Granbury in January of 2016 was $15,191,500 as opposed to the January of 2015 number of $9,281,915. That is an increase of over 63%. Because the Sales Volume went up at a larger rate than the number of units, this reflects the average home sale being much larger in 2016 than 2015.
  • Months of Inventory – This is a commonly referred to statistic when examining a real estate market. This statistic refers to at the current rate of sales, how long will it take to sell through the existing level of inventory. This reflects the supply and demand for the market. In our example, in January of 2015 the level of inventory was 9 months and in January of 2016 it had dropped to 6 months. That is a 33% drop in available inventory! This means if you are looking to buy a home in Granbury Tx, it will be a little tougher in 2016 as there is less inventory available to buy.
  • Median Days To Sell – This stat simply refers to how long it takes for single family properties to be put under contract. Don’t let the „to sell“ confuse you. To accurately show the demand for active homes, you really want to track how long it takes to go „under contract“. The process of acquiring final lender approval, insurance and getting to a closing can vary on a variety of factors. In January of 2015, the Median Days to Sell was 88. That number dropped by over 30% to 61. Once again, this tells you if you are looking for homes in Granbury TX, you better get your offers in quickly as the most desirable homes are going fast!
  • Average Price – This statistic can be derived in a variety of ways. We are going to use it in its most raw form and simply be the Average Price of Homes Sold within that month. Be careful when looking at this statistic printed anywhere as how the user defines the date sold can vary. Needless to say, Average Price can be used for active homes for sale or for the homes that sold. The Average Price of ACTIVE homes for sale is generally a pretty useless number as you can list a home for any price, without any possibility of it ever selling. Many homes listed for sale are at unrealistic prices thus the Average Price of Active homes for sale can fluctuate dramatically and give little insight into the market. You will want to look at the Average Price of SOLD homes. In January of 2015, the Average Home Sale was $181,998 and it jumped to $199,888 in the same month in 2016. This is an increase of almost 10%. This is not a number that truly tells the increase in home values across the board, but simply of the homes sold in that month, what the average was.
  • Median Price – The Average Home Sales Price can be skewed by a variety of factors. All it takes is one 5 million dollar home sale to throw those numbers off. To get a better view of the overall increase in value, it can be better to look at the Median Sales Price. Median Sales Price takes the number that is perfectly in the middle. For instance, if you have 11 homes that you are using in your statistic, you would take the sales price of the 6th one. This leaves 5 homes sold higher and 5 homes sold lower. In this instance, they are pretty close as the Median Sales Price increase from January 2015 to 2016 was 9.69%. This shows that we didn’t have the Average Price skewed too much because of an extremely large or extremely small sale.

There are hundreds of ways to look at the same numbers, when referencing to real estate, so be very careful to read the fine print on exactly what numbers they are using. When making comparisons, you will want to make absolutely sure that both are referencing the same property types, dates etc. It like the old saying says… there are lies, damn lies and statistics.

Immobilienmakler Heidelberg

Makler Heidelberg

The Best Way to Sell Your Home Is For Sale by Owner

For Sale By Owner is a very popular term used these days in real estate market segment. Home owners who have listed their home as understood the benefits and have been recommending this to their known ones. If you have heard For Sale By Owner for the first time, let me define it – Listing as For Sale By Owner do require some initial research and knowledge but the ease it provides in selling owns property is worth the time.

When you make a decision to go all alone selling your home, first step is market study which is important to start with. You as an owner of the property need to know what is the market price currently for your property which you can quote while listing in MLS. It’s not that you need to do some deep market research on real estate market but do need to know the real estate market in your area at least to decide on the price for your property you are going to sell.

Second step to list as For Sale By Owner will be listing the property in Multiple Listing Service. Questions might arise why MLS as it is popularly know, but this is the most popular platform for selling or buying a property these days. Almost all the property bought and sold are doing through MLS which not only make the process easy but also save lots of money which is worth saving in this economic crisis. MLS provide a safe platform which is accessible to licensed brokers who in return charge 3% sales commission (approximately) which is almost half what normal real estate broker would charge on closing the deal.

Immobilienmakler Heidelberg

Makler Heidelberg

The Advantages of Services Like the RedX and LeadSenders For Real Estate Agents

Expired listing lead services such as the RedX and LeadSenders provide real estate professionals with a continual slow of leads from which to grow their business. The primary advantage of both services to REALTORS is that they enjoy a first-mover advantage over their competition. Agents that use these lead sending services get notified as soon as the prospective customer comes available. These services then provide users with the information that they will need to quickly make contact with the prospect, begin creating the relationship and finally convert the prospect into a listing or a sale.

Although similar, LeadSenders and the RedX (Real Estate Data Exchange) have some very significant differences. The most significant of which is the timeliness of the service. Where the RedX system provides expired mls listing leads in real time, the LeadSenders system provides information on a daily basis. In contrast, where the RedX software provides a prospect by prospect history, there is no way to easily create visibility on all of the listings that expired six months ago and have not re-listed.

In general, the services provided by the Real Estate Data Exchange are a little more comprehensive than those of LeadSenders. In addition to expired mls listings, the RedX also provides real time FSBO listings from multiple databases. The RedX also scours multiple databases to provide a comprehensive picture of both the expired and fsbo listings which allows the real estate agent to be much more informed when they first make contact.

In addition to those services, the RedX does provide an expanded menu of marketing resources that are not currently available through Lead Senders. These resources include tools to help REALTORS update their websites with the latest lead capture technology. For real estate agents that do not currently have a dedicated website, the RedX even offers a service to provide them with a turnkey solution.

Between the RedX and LeadSenders, both have their own unique benefits. As a result, it is ultimately up to the real estate agent to choose the system that will best fit his or her needs. When evaluating these types of lead generation systems, there are a lot of things to consider. Cost notwithstanding, the caliber of the leads as well as the technology used to identify prospects is one of the most important factors of consideration. If you are a REALTOR that is looking at these two systems, weigh the benefits of both and choose wisely.

Immobilienmakler Heidelberg

Makler Heidelberg

Townhouse or Condo – What Is the Difference?

Between a townhouse and a condo, there is a lot of difference. Everyone dreams about owning a home some day and if you are considering either of these as your first, or maybe your last, home it is important to know what each one is and how they differ.

Townhouse

It is a type of row or terraced house that is similar in shape and size and will usually share common walls. They are considered a single-family residence with each having a separate entrance. When you buy a townhouse, you are buying a special unit from a long line of properties that are similar. In historic Ireland and UK, it was a house for aristocrats inside a capital city that they used when they had to attend parliament sessions or during social functions.

Condo

It is also referred to as a condominium and is a type of housing tenure that also means common ownership. These were a part of a certain estate that are sold or leased to a tenant. The owner of the whole estate did this. Today it is a term used as a substitute for special unit, or apartment that are leased or purchased.

Major differences

• Ownership specifications-when you own a condo you will be the legal owner of everything that is inside the interior and if the condo owner wants to use the rest of the amenities, they must pay a monthly fee to the condo association. All members who own a condo form this association.

• Property taxes-the one that owns the condo also has to pay property tax on their individual living area but the townhouse homeowner has to pay not only for their living area but also for the ground on which it is built. This can mean that the cost for a townhouse may be higher than the price of a condo.

• The townhouse owner will have to pay a sum to a homeowner’s association for the maintenance of the complex but the monthly dues that a condo owner pays takes care of the overall maintenance without paying an extra fee.

• Structure of the home-mo matter what size of a townhouse that you purchase it is located on the ground level. There are no more floors on top except for maybe a terrace or it could be built in a different style of architectural like Cape Cod. The condo is usually located in a two or three floor complex. It could also be in a luxurious high-end multistory building along with exotic views.

• Condos are safer than townhouses as they are surrounded by a close neighborhood

• Townhouses offer more privacy as you are not surrounded by a lot of neighbors.

Immobilienmakler Heidelberg

Makler Heidelberg

Staging Your Home For Sale – 5 Tips to Help Get it Sold

It is so exciting when you are staging your home for sale. Preparing your home to make an impact on potential buyers is fun and you only have one chance so you need to make sure you give it your best shot. The greatest benefit of staging your home for sale st that you will usually sell it for more than you originally expected. When multiple buyers are impressed with your house there can be a bidding war. Even if there is only one buyer interested in purchasing it, the greater impact that the staging has had on them will ensure that your asking price does not seem like too much.

There are many things that you can do when it comes to staging your home for sale. Take these ideas for example:

1. Remove Unattractive Features

Is there anything that you don’t like about the home? It is now time to get rid of it or update it. This would be a great time to update those lighting fixtures.

2. Painting

Putting a fresh coat of paint in a neutral color on your interior walls is easy and very inexpensive. If you are feeling really adventurous then consider painting the outside of your home too (depending upon what your home is made out of).

3. Declutter

It is amazing what some cleaning up does. Take a good look inside your home and see if anything can be removed to free up more space. Consider removing extra furniture, your collections, pack up most of your books and accessories, but leave a few. Rooms that are free of clutter will make your house look larger to buyers.

4. Landscaping

First impressions are everything. The outside of the house is the first thing buyers see when they drive up. Keep the lawn mowed. Have the kids bicycles and toys out of sight. You don’t need to renovate your garden, but by simply planting some nice plants and shrubs you can make a massive difference to the ‚curb appeal‘ and character of your home. Choose native plants and trees and plan in advance to give them time to flower and blossom for the season.

5. Modernize

Just by changing drawer handles, curtains and other trimmings around the home you can give it a whole new look and really modernize the home on a budget. These days you can buy house accessories at a very affordable price from local hardware and home stores.

Staging your home for sale is the best possible way to maximize your asking price and get sold more quickly.

Immobilienmakler Heidelberg

Makler Heidelberg

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