Choosing Between Being A Commercial Agent Or Private Property Agent

There is always a need for commercial real estate agents as long as people keep purchasing and leasing property. Naturally, anyone looking to invest in property wants a stress-free experience with someone helping to find their dream home, profitable commercial building, or selling their home. As someone who is getting ready to become a realtor, it becomes crucial to decide whether to become a commercial or private property agent.

The first main difference between the two types of agents is the type of property they handle. There are some differences in the level of education required, the work culture related to the different environments, and of cause the amount of commission earned after a successful sale.

The decision largely depends on the vision you have about your career in the business, and the steps you have already taken towards becoming a property agent. Start searching for good real estate training now.

The Difference Between A Commercial And Private Property Agent

Commercial agents spend a significant amount of time negotiating properties including entire apartment complexes, office buildings, hospitals, and even malls. Private agents, on the other hand, focus on residential real estate negotiating the sale of houses, apartments or condominiums.

  • The Commercial Agent

The return on investment drives a commercial realtor and are sometimes thought to take an emotionless approach and instead focus on hard numbers. A commercial agent must also be adept at calculations and realize that their clients want a good investment and not a dream property.

Working in the commercial real estate is a corporate affair and more data-driven. The agents have to present data with good numbers to win over clients. Commercial property clients are more concerned with cap rates, monthly ROI, and gross rent multipliers. These are all elements that a commercial agent should know off the top of their head.

The reality is that dealing with commercial property comes with much significant risk. However, there is always the possibility of benefiting from a larger commission. On the other hand, the sale commissions do no come as often because commercial property do not have a high turnover rate.

  • The Private Property Agent

Residential sales take a softer approach, and you often will not find agents dealing with such property concerning themselves with numbers. Residential realtors rely on quality pictures showcasing the property as a primary marketing method. Their role is to find their clients their dream home and get them in the house as soon as they desire.

The private property realtor can choose all forms of online and offline marketing methods to reach out to potential clients. For instance, most usually use classic flyers and circulars, and billboards as advertising tools. Now that most companies have also taken their business online, the agents also make use of social media to reach clients.

A private property agent might earn ten times less in a single commission compared to a commercial realtor. However, private property has a higher turnover rate, and with many listings, the realtor can still enjoy a significant amount of commissions.

  • The Qualities and Skills That Both Commercial And Private Property Agent Should Possess

Whether dealing with commercial or private properties, a realtor must have specific skills and qualities to succeed in the business. Potential clients always look up a realtor before deciding to buy what they are selling. They want someone who has the necessary skills and experience to sell their property or help them find a suitable investment.

Being organized and having a keen attention to detail can single-handedly help you sell property in hard-to-sell markets. You must be able to identify the tiniest of changes that can significantly improve the property value. It also includes coming up with compelling enough property listings accompanied with quality photographs. Returning client calls promptly and getting to appointments on time are also some of the important virtues a realtor should have.

Realtors should be social enough to form connections who essentially become potential buyers. Having ties to a reputable agency does help as well as knowing other realtors working in the same area. It also pays off to know when to collaborate with other agents to sell property faster.

Aggressiveness sells in the real estate industry, but you should also have a polite attitude. Sellers want to see that you are taking a tenacious approach and working hard to find them a buyer. Realtors who treat the property as if it were their own and make use of all aggressive means possible to get it to the right clients often succeed.

It is needless to say that property agents should stay up-to-date with technology and their local market in general. Technology makes several aspects of a realtor’s work easier, and it also helps you to be more organized.

Last but not least, it helps to be honest with clients and tell them everything concerning their property even if it is not the easiest of news to hear. That means being open about the sale price and timing to close on the property.

  • Should You Become A Commercial Or Private Property Agent?

Once again, it all falls back to your career prospects and where you currently are in your quest to become a realtor. Some people may want the challenging atmosphere that comes with working as a commercial agent. Others might feel more comfortable in the “less-strenuous” environment that comes with working as a private property realtor.

Naturally, this is not a decision you want to make in an instance, and you should take the time to study the market. Find out as much as you can about both the commercial and private property markets in your area. It can help you determine which route will be more lucrative. Another factor to have in mind is whether or not you intend to work as a full-time property agent.

Regardless, you cannot go wrong with the decision to join the property industry working as a realtor. There is also the option to possibly switch over to the other specialization once you start working as either a commercial or private property realtor.

Want to sell your property? Here is what you need to increase the value

When it comes to getting your property ready for sale, it is important that you spend your money on projects that will positively add value to your home. It is the goal of any property investment to increase the value; you want it to worth more than the time you bought it. Otherwise, there is a risk that you might end up alienating prospective buyers with features that they may not require. With the right idea and hard work, you can easily increase the value of your property without having to spend a lot of money. Also look are organisations offering free property appraisal.

  1. Make plans for remodelling

The fastest way to increase your home value is by planning. If you plan and redecorate the place intentionally, not on impulse, your upgrades will bring more value to the property. Think about it slowly and take your time. Make a list of things you wish to see remodelled and updates you want to make.

After sorting everything out in the list, start organizing according to how much it will cost in terms of money and time. Be very realistic about it. Once categorized, look at the list and prioritize what can be taken care of practically and which are do-able fantasies. Balance it reasonably.

  1. Spend time and money with a professional interior decorator

Inviting an interior designer can give you a lot of ideas to improvise when it comes to redesigning your property. Most interior decorators charge according to hours spent, and a single hour can give you a lot of ideas. Even a small idea like furniture placement or paint job can go a long way towards improving the look of your estate.

  1. Work on one room at a time

Do not attempt to handle two to three rooms in one go. Whether it is a simple paint job or knocking off the wall, handling one room at a time keeps you organized and your work achievable. Take a look at your list and figure out which jobs will take the entire day or just an hour. By strategizing, you will see each room getting transformed before your very eyes.

  1. Get the basics up and running

Before installing a fancy upgrade to your room or kitchen, it is important that you address the basics first. Repair plumbing leaks, insulate the attic, inspect the furnaces, repair broken doors and windows, replace rain gutters, weed the garden or lawn, etc. These kinds of fixes go a long way and can add substantial value to your property. Investing in repairs is crucial for a sale; it is said that the sale of real estate property depends on how well the repairs have been carried out. Cleaning the house can give you an idea of what needs repair and what does not. If repairing and maintenance is not your cup of tea, do not hesitate to hire professional help.

  1. Market it well for your buyers

Perhaps, the simplest way to increase the value of your property is to make it appealing to a large number of people. In simple mathematical terms, the more people want to buy your property, the higher is the demand, thereby increasing the value proportionately. If fewer people want your property, the chances to create a bidding war falls and people will have time to haggle.

Different people have different expectations and ant different things. Some want to buy a one-bedroom apartment in the city while others want different properties in the suburbs. Your area and the type of property will be the deciding factor for your market. Talk to a real estate agent and get an idea of what kind of property are people searching for in your vicinity and type of property. Use this information to your advantage and give the market what it wants. If people are searching for an estate with a backyard, design your backyard as such.

  1. Banks will not be ready easily to overvalue your property

Banks won’t simply add $100,000 for a simple paint job. In the business of making money, banks will undervalue properties to lower their risks. Design your property and try to appeal to the widest market. They will value the property appropriately.

  1. Do not add your own taste

Make sure you paint the property in neutral colours like mochas and creams. One of the many reasons is that most buyers may not like your idea of using bold colours like blue or red. You need to renovate the property for the market, not yourself. Your taste might look beautiful in your head but may not work well with potential buyers. Hence, your taste does not really matter.

  1. What can be seen adds more value

Several old properties require a lot of structural works to keep them up to market standards. But, you need to work on things that can be seen like a paint job, the look of the property, etc. rather than things that cannot be seen like electrical jobs, restumping, etc. Create street appeal because the first impression always works. Paint the exterior with subtle colours that may appeal to buyers from different demographic. Landscaping the garden and improving the fences are some other vital things that potential buyers tend to check out.

  1. Try not to over-improve

Improving can increase your property value up to ten folds. But, you also need to be careful so that you don’t end up spending thousands of dollars on improvements and not see a single return on your investment. Potential buyers may not like your idea of decoration. Hence, it is important you keep redecoration to a bare minimum. Research and come up with new ideas and hacks that can add more value to your property without over-doing it.

Conclusion

With housing prices soaring, it is time to capitalize on your property. Whether you want to increase your property’s value or simply want to improve your living space, improvements can be a daunting task. Luckily, these steps are just a few, to begin with. These little things can mean a lot when it comes to increasing your property value.

Take The Stress Out of Your Short Term Move with A Home Rental Package

So you’re thinking of moving to a new city, and probably getting excited about the move. Whatever is bringing you to a new place, whether its work, family, school, or just an interest in checking out another city, country, or culture, you’ll find that moving has a pretty universal set of stressors regardless of the reason for the move.

Of course, you need to find a place to live, which can be a whole process. If you’re only planning on moving for a shorter time, finding a place can still be difficult, especially when you don’t know the area you’re headed to. Even if you do, you’ll have to pack up all your things, give them to movers, and ship them off to wherever you’re going.

Packing And Unpacking Your Whole Life Is Stressful

Once the boxes arrive, you’ll have to open them up, throw out the things the movers broke, and re-arrange your furniture the way you like. The only good thing about that whole process is the take-out Chinese food you can enjoy while sitting in your new place, surrounded by a small mountain

range of cardboard. Can you imagine how difficult this whole process is for people who have to move every so often because of their career?

Don’t forget all of that other details of moving to a new place, like finding a new doctor, locating the various stores you’ll need on a weekly or daily basis, discovering new restaurants, and making new friends. Some of that can be energizing and fun, but some of it can be a huge drain.

If given a choice, wouldn’t you want to cut one huge stressor out of your move? That’s why considering a home rental package could be a smart move for your short-term move. Home rental packages are great for several reasons.

Renting Furniture Is Smarter Financially

When you rent, you’re not buying things that depreciate. As any good investor knows, buying assets puts money in your pocket, while liabilities do the opposite. Chances are your furniture is a liability, not an asset, especially if you’re moving somewhere for a short period. When it’s time to pack up, you’ll be stuck with a whole home or apartment of furniture to get rid of, and you won’t be making money on flipping these items to the next user because furniture tends to get beat up pretty easily. Check out amazing prices on rental items at Click On Rentals.

How many of us have had to replace a couch, table, bed, mattress, or desk because it got worn down from daily use? By renting furniture, you won’t spend thousands (if not tens of thousands) of dollars on furniture that you’re just going to have to throw out or unload for pennies on the dollar once you move again, because trust me, no one is going to pay what you paid for that bedroom set.

Renting Furniture Takes Stress Out Of Your Move

Renting your furnishings can take so much stress out of your move. Instead of spending hours shopping for the things you need, you can spend that time relaxing, exploring your new city, and making new friends.

The rental company will deliver the furniture to your door, and in many cases, set it up the way you like, so instead of eating Chinese food in a takeout carton, you can head out to explore some new restaurants. Trust me, when you buy furniture at the store, you always end up going back to exchange something or pick up something you forgot. Save yourself time and hassle by treating yourself to rented furniture.

Renting Furniture Is A Classy Design Move

Let’s face it: the majority of us are not interior decorators. But many home rental centres have in-house designers or can recommend matching products and accessories to make your apartment or home look quite spiffy. If you hired your interior decorator, that would cost you a pretty penny, and it you do it yourself, you might find your furnishings to be a hodgepodge of styles and colours that clash.

Even if you like to dabble in design, the rental centre can still be a good move. You can work with their team members and catalogue to order the parts you need to create the awesome living space you envision. 

Appliance Maintenance Is Much Easier With Rentals

If you need to get appliances for your new pad (like a washer/dryer, dishwasher, television, etc.) renting them is a smart move. Appliances are extremely difficult to resell, or even to give away. More people would be interested in scooping up your couch than your washing machine, especially with the hassle of having to set it up themselves.

With rental appliances, you can just trade the thing in when you’re done, and since it’s the property of the company you’re renting from, the maintenance doesn’t have to be a concern of yours. If it breaks, they can send out a tech to work on it and salvage it so they won’t take a loss. On the other hand, if you have your appliances, any unfortunate events that damage them are going to hit your pockets hard.

Trade Up

When you buy furniture, you’re usually stuck with it for awhile because of the cost. But with rentals, you can trade them in at the end of your leasing period for a new look, or better quality. Especially when it comes to your appliances, renting gives you the liberty to move up to the next model flat screen (as an example) when you’d like. And if you suddenly decide you no longer like that cutting edge modern look, and want to go for something a little more…classical…you can just swap your furniture out. Granted, there may be a leasing period to consider, but you will still eventually have the option to trade up or out.

Conclusion

If you’re moving to a new city, renting your home furnishings is the way to go, especially if your move is a temporary one for work, school, or exploration. Take the stress out of your move and do it the easy way!