Business & Property

Benefits of Word of Mouth Method in Property Marketing

There are many strategies you can use for property marketing. Direct marketing, indirect marketing, and many more are available to use to fit your liking. However, there is also word of mouth method in property marketing you may need to consider due to its effectiveness. This method is actually not new at all. This can be considered as manual or traditional method in marketing in general. However, this method seems to work efficiently in property business as lots of investors show their interest in using this method and the result is positively good in return.

Word of mouth method in property marketing benefits

Word of mouth method in marketing strategy is considered as recommendation which is made by satisfied customers to their network of personal contacts. The recommendation can be both in oral and written forms.  This is effective method because most customers are more eager to try new product or service recommended by their close friends or family. This strategy is more convincing in the customer’s point of view. It is more promising in the investor’s point of view. Here are benefits of word of mouth method in marketing:

  • This method is more effective in building trust to customers because most of them are more willing to try, purchase and stay loyal to brand or service referred by their friend or family member. This strategy emphasizes more on customer service and customer experience unlike the traditional marketing strategy which emphasize more on self-branding.
  • Word of mouth method in property marketing is less expensive than more modern marketing strategy such as putting ads on television, printing brochures, or campaigning on radios. Those who have experience in property business must have known that the cost of marketing is not cheap at all. It can even take large portion in operating budget. Thus, this strategy seems to be a great solution to have more affordable marketing.
  • This method of marketing is also a great help to build brand awareness. People will be easier to recognize your brand or in this case your property. Unlike social media which seem to be more exaggerated in many ways, word of mouth marketing is more convincing in providing resources which can be easily shared by customers to their families or friends.
  • It says that communication can be made not only by words but also by body language. Word of mouth is often to be done by direct communication and interaction between friends and families. This is why this method is more effective because customers will be more convinced by subtle body language such as when they friend’s eyes are so enthusiast while recommending your property.
  • Cold calling marketing startegies are less effective these days because people are getting immune to it in which they tend to ignore it instead of giving response. Meanwhile word of mouth method in property marketing uses warmer kind of communication by involving more intense emotional response. Thus, you need to formulate your strategy to drive this method so your property has positive light in return.
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Business & Property

Thinking of Going into Real Estate? Here’s a Glimpse on Starting Out

There a number of solid reasons why real estate business is so popular. Aside from the tempting statistics that shows that the majority of real estates consistently appreciates over time, real estate is a tangible form of investment. Being a real estate owners or a real estate agent is a pretty popular choice among those who are in the midst of switching careers because pretty much anyone can enter, without the bar of education or prior experiences. Real estate is also known to be a lower risk investment compared to other means of investing such as the stock market, as long as you have a comprehensive understanding of the business. So, what are the gist of things that you need to expect in diving into real estate?

Thinking of Going into Real Estate? Here’s a Glimpse on Starting Out

Start small and Educate Yourself

 

Sure, you go into real estate expecting to make big, to do big. We can’t help but be attracted to big ideas; problem is, we don’t know how they’ve become big. Understanding the revolutionary process is difficult and most of what we can see is the result, not the process. We know once they’re already big. So start small, and grow. Rather than start big and collapse of burnout.

 

Starting small can mean many things according to each individual. For a lot of people, renting their own home is a good place to start. For others, it’s saving up just a bit more to pay in cash rather than relying on mortgage—identify what “starting small” is for you, then extract the first step. Go from there.

 

There are plenty of ways to educate yourself in real estate, and no two methods are the same. Do what you can continuously, consistently commit to. There is no point in learning if you just learn that one time and it doesn’t continue.

 

Many successful real estate people are those who already own a house—at least one that they live in—and they start from there. You can rent your house while you move into a new one. Another popular method for home owners is renting a part of their house while preserving one room for themselves. Whichever you chose, understand the pros and cons of each option, and identify which one is suitable for you. For example, even though renting parts of your room might be the option that saves you more money, if you’re not into the the idea of living with your tenants, you might want to take a step back and reconsider for a bit. You might change your mind, but remember the point in starting small is identifying where you’re comfortable and capable in starting.

 

When it comes to acquiring properties, paying in cash is definitely the preferable method for those who have it. It’s not necessary, but If you have the means, buy a house with cash rather than relying on a mortgage. The elimination of mortgage payment makes a huge difference, thus, easier in generating a positive cashflow.

 

Home Maintenance

 

Depending on the condition of the home when you buy it, you might want to make some repairs or even renovations. Make some connections and establish good relationships with people who can help you in these areas. Having reliable people who give the service you can trust takes off so much burden.

 

Join a Community.

 

Learn from the people who have been in the business for longer than you. Meet with newbies who might be facing the same struggle as you. Share what you’ve gained through the chunks of time you’ve spent in the real estate business. Network. Network, network, network. Then network some more. There’s no such a thing as too much networking. Joining a community is a part of educating yourself in real estate. Set aside a chunk of your time simply for meeting people, it’s an investment on its own. Don’t be afraid to be a student and (literally or figuratively) take notes.

 

The Best Way to Learn? Do It

Learning by doing has always been the most practical way—you don’t simply learn of secondhand information—you learn through the things you experience yourself. Real estate is no exception.

 

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Business & Property

Important Factors to Plan Well-Organized Budget for Your Property Business

Budget is the main key in every business you run. Making well-organized budget is the right step you need to take to maintain your property business. To start your step in this plan, you need to understand personal financing. This is a way to create as well as maintain your budget. It is not only about gaining steady profit or balance checkbook. It is about how you maintain your personal finance in healthy way. This way, you will be able to decide what step to take to maintain or even expand your business. Having your budget organized will give you many benefits in the future.

Consider important elements to create well-organized budget

In running your business, you have more than steady income as your goal. You need to set more effective financial strategy which helps you step up your way in achieving your goal. Here are some elements you need to maintain in order to create your well-organized budget:

  • Credit score is one of important element to organize your personal budget. Believe it or not, you will have more difficulties in maintaining your budget well with bad credit score. If you can improve your credit score, you will automatically get lower interest rates. This leads you to have higher chance in building your wealth. Better credit score helps to finance business better. Thus, make sure to do everything you can to improve your credit rating.
  • Regular monitoring of your expenses is the next important element to create well-organized budget for your property business. As long as you can measure your finance, you will be able to manage them well. It is highly recommended tp keep tracking your expenses periodically. Make sure you set your budget with flexibility because there are times when you experience ups and downs during harsh seasons. When you examine your budget regularly and frequently, you have more control and choice to make further decision.
  • Lots of people thought that managing finance needs business degree. However, it is not true. There are many ways you can manage your finance while running your property business. Befriend with financial planning software where you can manage your financial situation well. No matter how complicated your financial situation is, you can rely on financial planning software to try out different scenarios.
  • Some experts believe that tax is strategy. You can use tax strategy to gain more advantages in earning more cash. Investing in real estate means you have more advantage from good tax. Thus, you can build your own wealth for the better. Remember that significant tax implies business structure which is based on certain ownership.
  • As mentioned earlier that you need to set your own goal. Make sure that the goal you set is concrete. Your goal is yours to reach. There are many kinds of goal such as starting business for long term purposes or earning certain property for personal use. Your goal will motivates you to manage well-organized budget for your financial future of your property business.
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Business & Property

Choosing A Real Estate Company Name That Sounds Legit

Here you are, in your final way of establishing a real estate business. You have prepared everything, read every tips, and now you are ready to launch your real estate company. But you stumble upon one little things; finding the right real estate company name. A catchy and creative name is a must if you want to gain customers’ attention. A good real estate company should sounds good when spoken, looks good when written, and easy to memorize.

Here are some tips to help you find the perfect name that will be the identity of your business.

Use Geographical Location When Appropriate

If you have settle on one location for your property business, it’s good to take the location for your name. It’s good as immediate reference for people who are looking for properties in that area. Take example as Villa Bali Sale, which name make its as a top priority for customers searching for villa in Bali. If you wish to expand beyond your current location, however, it’s best to stick to general name and avoid specific geographic details.

Don’t Use Your Name

Whether it’s first name or surname, using your own name for your real estate company name is not a good idea. First, a person’s name is not really memorable, which means on bad branding. You want a catchy name that will easily stick to your customer’s mind. Second, it gives false hopes for people who expect to meet with you directly. You will more likely assign your workers to handle clients, and those clients might be disappointed to not meet with you, whose name is on the company name. Selling the company can be difficult when it’s named after yourself.

Add “Property” or “Realty” in the End

You want customers to immediately know what your business is all about. Hence, it’s a good idea to throw some keywords that shows you are in property business. Words like “property”, “reality”, “Estate”, or “Asset management” are good and very specific to property business. They can also act as a good extension name for domain registration. Especially when your actual company name has apparently been owned, parked, or is too costly to purchase. These specific name extension actually contributes a lot to better search engine response.

Keep It Short

Nobody has time to remember long names, so better keep your real estate company name short. The name of your business (which double acts as the brand) will be shown in apps and all social media channel. That’s why you need to keep it short but engaging and invoking curiosity at the same time. It should represent your business as well. Here are good examples for such short-and-witty names: Houzz, Homesnap, Brick & Mortar, Tenants Choice, Pacific Estate, Castle Group, or Riverstone Residentials.        

Choose A Name that Invokes Trusts

Trust, confidence, and reassurance are among the most important things in property business. Customers need to feel safe and secure to buy property at your office. That’s why the name of your business should resonate with clients’ emotional needs. A name that inspire trust, confidence, and reassurance will greatly affect customers, especially the first-time home buyers.

To come up with a great real estate company name, you need to get your creative juice flowing!

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Business & Property

5 Beginner Mistakes When Investing in Property

Beginner mistakes in property investment

Investing in property is fun. Many people are drawn to property investment as the property rate always increase per year. Investment in property seemingly guarantee a good return. That’s why people tend to miss out the risks and fall into loss. Only a handful of investor that can make it through and actually create wealth from their investment. While there’s no manual book to ensure success in property investment, at least you can avoid these beginner mistakes in property investment.

Using Heart Above the head

Many home buyers are, mistakenly, using their heart over head when they purchase their first home. It’s actually understandable as home is where you will raise the family. However, if you think home as investment, letting your heart rule the decision is not a good start. Emotional judgement can lead to over purchase, rather than negotiating for a good deal. Put possible outcome as the main consideration. Conduct rational analysis before buying a property. Consider whether the location will attract quality tenants or not. Or if the house will sustain property price market in the long term or not.

Fail to Understand How Property Markets Work

Do your homework before diving into the property field. Attending seminars and reading couple of books (or articles) will not be enough. You need to do a deep research in the surrounding area as well. Make yourself familiar with the area. Find out about vacancy rate and value of property of the area. This way, you can have a good idea about the success rate of the investment. If you see no potential in the area, both current or future, why bother to invest?

Not Matching Targets with Property

Your target markets should be a major contributing factor in property buying decision. It affect the location, type of the property, facilities, and others. If you are targeting a family with two children, for example, you would want to invest on studio apartment. A luxury house with a big pool might be not appealing for young workers in the heart of the city, who prefer more to minimalist apartment.

Not Devising Clear-Cut Planning

Property investment is more than buying a house. It extend to planning, developing, to marketing strategy. Before you begin purchasing, build a lucrative plan with clear goals. It will be the roadmap of your investment journey. Write down a set of goals that you want to achieve with the investment. Determine the final result of your investment. devise a coherent plan to get you there.

Giving Up Too Quickly

When you dive into property investment, don’t expect that it will give you dollars overnight. Many people have hight expectation when they first invest in a property—sometimes it’s too high. When the said property are not returning quick benefit, they think that property is not for them and throw it to the bin. Just like diamonds, knows that property investment takes times and efforts before it starts flowing dollars to your bank account.

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Business & Property

Why Everyone Doesn’t Invest In Real Estate?

I am really wondering around about the investment in real estate. Many have said that the investment will give many of advantages for future. “You’ll be rich, one day!”, they said. But if that is possible even for me that have no idea about what is going on, then why doesn’t everyone investing in it?

Invest in real estate: Why everyone doesn't do it?

The fact about investing in something is, you don’t need to spend a lot of money at the beginning although you may need to keep on doing that all over again for years. Still, somehow it is not burdening our shoulders at all. I have nothing to know about the terms and conditions, agreements and laws of investing in USA or Europe, but i know that they who need to find many of the investors as if trying to tell you like: “Give me your money each month for about 5 or 15 years ahead and then you will get more of what you have given in return.”

That’s the simple way to understand what the investment is. I mean, it is pretty much just my own simple thought, so it’s ok if you will denying it. But to be honest, doesn’t it sounds right to you?

I know that investing in real estate is not easy and even will requires a lot of hustles, however, how comes a guy like me with only one job could afford to invest in something? Now you may have realized how poor I am that actually can be used as an excuse why invest in real estate is not for everyone.

The next reason I found about my own confusion related to this topic is about the definition of the real estate itself. I don’t know who was saying that the real estate is “the land and all improvement made both on and to land.” So, now I know that the apartment is not considered as the investment if you get one because you only use the building and you have no right about the land or the ground.

What does it means to me? Surely, we will talk about the taxes! Now, you don’t just need to spend the money for the investment, but also prepare for the taxes. It is so obvious for many of us that are determined for making money. Why don’t we just saving the money and then buy a house while slowly building our passive income as one of the sources of income? I know that it is not possible to everyone as well, but it could be.

What’s stopping us for invest in real estate? Is it our lack of money and knowledge, or they have got a better investment for the long-term? You’d be the one who know your own condition.

If you find this article useful and may stimulate your mind to find the answers even further about the wider world of investment, please kindly to share this. Keep in mind that what I have written above just a simple thoughts from someone who haven’t known much about the concerned field, so I may miss one or two of the information.

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Business & Property

Does Your Brand Needs to Hire a Digital Agency?

Millennium era has been changing so far. The way how the business branding and communicate with
the customers are also changed. Many businesses, small or the biggest one are also have increased
both the quantity as well as the internet users. Don’t matter who your business end customers
targeted are, you need the business stands from the crowd on internet and the brand or digital
agency can be a solution. Even, it will be your “all under one roof” solution.

Digital agency for business development

Here are things you need to build related to make your online business successful especially in
improving the brand awareness. You need to setup all the required social medias along with the their
content plannings and strategies, build the wonderful website and start to generate more visitors to
be converted into the loyal customers, dealing with the graphic design field to make the logo,
promotion contents and many more.

If you think that you can’t do all of those things and not have built the teams yet, then you have to
consider to hire the digital agency to solve your industry problems and provide various solutions that
your business need.

For many reasons, the usage of online advertisement networks are usually being used for inviting the
visitors to your website and hope they could put one or some items into the cart that later will be
dealing with the payment as soon as possible. Meanwhile, if you choose the right brand agency to
help you with that, doesn’t you think that all of the ads campaigns can also be helpful for your
business brand?

Signs of the good brand or digital agency actually have been mentioned above which are dealing with
the web design and development, can help your social media’s engagement and website visibility on
search engine, and should help you with the ads campaigns. That’s why I’ve said about the one stop
services since the first place.

And those only some of what the brand agency can do for you. But if you really need the better one,
feel free to not only stop there.

You must have heard about the digital marketing before, don’t you? I think I really don’t need to tell
you about its definition and what the advantages of it in this article. But, if you want to spend some of
your times to search for it and dig a little deep about it, you will also know more about what the
agency is capable to do for making your business increased.

If you think that your business logo somehow a peek of the ice mountain on ocean, then your brand
will be the whole of the mountain from below the water surface up to every inches on the top. And
digital marketing will covering all of the parts to make sure your business is paying attentions to every
little part of what it could becomes its power.

It is not an obligation for you to use the brand agency for your business, but if you think you have to
takes it to the next level, then considering or thinking about collaborate with the agency is worth to
try. Overall, you only needs to visit the agency office and start consulting.

And the only thing you have to spend simply just your times and the money for the gas. There are
many of the digital agencies will hear your issues without charging you even a penny. Share this
meaningful post to spread the words.

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Business & Property

Things We Don’t Want to Hear About Property Business

Things in property business you won't want to hearFor those who loves property as their core business, getting success may even comes into their own dreams. Selling and buying properties may have created many of the successful businessmen and women, so with they who were failed. You may have heard and read about anything that are needed to be the best or at least the better businessman, still, you are not going anywhere. You don’t even makes a single progress as the clue that you are moving forward. No improvement at all.

There must be something wrong with you, something that is not going well for many of us. And I am calling it as the things we are not actually want to hear, know and then apply them in our business activities.

Things you don’t even want to hear about business property

No matter how long have we been worked, learnt, and trained, there always one and two things that we usually missed. And sometimes, those are the important thing but we keep insisting that they won’t work at all for your property business.

And if you want to know about them, read all the lists below to help you achieve your long-dreamed success.

1. There will be many things to be done

You are not the one who think that the property business is the easy way for getting much money, right? Even though it can be so true, there won’t be many of the business guys will telling you that they have sacrificed many things. It is because there are tons of duty that they have to do and some of them may need to be done as soon as possible.

You have to prepare the catalogues a month before auction, knowing how the properties being sold in the past, analyze the value of both property and the land plus location, and many more things that could cause you a headache and insomnia.

2. Sometimes, you need more money than you think

There are reasons why you have to prepare the budget since the first time you are running your property business. You need for advertisement both printed or digital ads, you will need the money for the auction’s day and before it either for renting the building, agency, or even for the lawyer when things are going a bit crazy. Moreover, it is not a secret that many of the auctioneers and their vendors are going to the court because one party did not comply with the agreement that had been agreed upon beforehand.

3. You mostly can’t change the property agreement

A deal is a deal, although you or the one at the auction who just win the bid haven’t been sign the contract yet. So, you’d better think about all aspects that might harm or benefit you with the efforts you have built. Each of us want the best related to buy or sell the property, so there must be something binding to ensure that it can be mutually beneficial between the two parties.

All of the three things above mostly can’t be easily to be controlled, and even will be out of our own control. Property business is quite famous for its higher earning for years, but besides all of that, there are also obstacles and problems that are commensurate.

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Business & Property

Knowing More the Benefit of Crowdfunding for Real Estate Investors

In few short years, crowdfunding has become a trend not only because lots of investors take a liking but also the advantage it gives to them. Knowing well the benefit of crowdfunding for real estate investors, lots of people involved in this business take no time to the opportunity. Through crowdfunding, investors have more access to the real estate market which is quite challenging when they do it alone because of the inherent risks lies in all kind of investments. It is true that crowdfunding investment is not the most ideal way in real estate investing. However, it does not mean it lack of benefits. Real estate crowdfunding is great to consider especially for those who are just starting and has limited budget for the property investment.

Benefit of crowdfunding for real estate investors

Each method of investing in real estate business always has its pros and cons. It only depends on investors to choose which method of investing that suits them better. Crowdfunding also has its pros and cons but here is information about the benefits that the investors can get from choosing crowdfunding investment for their property business:

  • Lots of people have long assumption about real estate being a business investment that only the wealthy elite can afford. Large sums of cash are usual when it comes to real estate investment. However, real estate crowdfunding can give the opposite impression of that. Lots of platforms allow investors to participate and invest in as little as $5,000 while the usual takes six digits to buy the investment of real estate.
  • Another benefit of crowdfunding for real estate investors is that investors have variety of deals they can choose. Different types of deal are available so investors can choose themselves which of the deal the risk they feel the most comfortable with. Therefore, the investors don’t need to feel pressured about the dal because they can calculate themselves the risk and opportunity lying behind each deal.
  • Next benefit of crowdfunding in real investing is the lack of hassle regarding to property management issue. It must be nice to be a landlord but the responsible behind it is quite challenging. A landlord is supposed to choose the right tenants, repair the property, and solve problems related to the tenants. With real estate crowdfunding, you can invest in your money and leave property management issue to the deal sponsors so you won’t have to have so much hassle with it.
  • Comparing to other method of investment, real estate crowdfunding is rather more transparent related to the asset. Investors have more control over the location and selection of the assets. Investors can even choose the property and market that they are most comfortable with to invest in. There will be also periodic updates about the property they are investing in and this cannot be found in other type of investing method in real estate investment. This is another big benefit of crowdfunding for real estate investors that cannot be underestimated.
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Business & Property

How to Grow Real Estate Business with the Right Strategies

Starting real estate business can be done by those who want to search for promising profit. However, expanding the business is on another level. It is important to know how to grow real estate business with the right strategies. People say the beginning is always the hardest. However, making your business established is also not an easy task to do especially there are so many issues challenging you.

Sale house and calculator

Real estate business is said to be a promising field where you have higher chance to gain more profit and steady income. However, it takes time until you can really have established business. You need to build it one step at time. Besides, you will need the best and property strategies to help you grow it.

Tips to grow real estate business with the right strategies

There are many strategies used by those who are involved in real estate business. However, you cannot just copy what other use to grow their business. Sometimes, one strategy doesn’t work when it is used by different person. Thus, you need to keep searching the best strategies which suit your way and needs. However, there are at least basic strategies you can try in order to expand your real estate business as following:

  • Instead of searching for biggest and open deals, it is more recommended to find out an odd-market property. People refer this as pocket listing as well. In this pocket listings, you will likely to find those who are willing to sell their property immediately. This results in acquiring the price below market which can benefit you when you lease or sell it later. This pocket listing often provides you people who need immediate cash which benefit your real estate business.
  • You can also grow real estate business with the right strategies by fixing and flipping. This strategy is not something new. You just need to find a property or house which has reasonable price which you can afford. Then you fix it up and sell it later. This is what you call flipping. This strategy is said to be great way to generate additional income. You need to buy a house below market value and make precise estimation of the cost or repairs to gain the best profit when you sell it later.

You can also grow your real estate business by making it more stage presentable. It is important to gain best judgment from potential clients. You can imagine what your clients think if you present your property in empty view without something interesting that catch their attention. The whole transaction process will be awkward and far from successful. Thus, you need to give your property the best staging before you present it to your clients. This is also the best strategy to gain client’s trust because they will know how dedicated you are to make their needs come first. This is how you grow real estate business with the right strategies. Giving the best impression to all clients is a must.

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