Real estate development requires skills in project
management, land prospecting, land and housing law, sales, marketing, finance,
communication and, of course, construction. Real estate development has many
stages depending on how each agent in the sector wants to handle them, and
here, real estate professional Jack Bistricer, lists the three main stages.
In our country, we can find different real estate projects
whose purpose is to provide services and comfort to its residents, regularly
known as real estate developments. If you are interested in these projects, here, real estate developer Jack Bistricer will explain what they are about
and what are the benefits that investing in one can bring you.
As the Chairman and CEO at Talisker Corporation, a company
that provides real estate development, construction, leasing, and management
services, Jack Bistricer has extensive experience in the real estate
development sector.
In brief, property development is the purchase of real
estate (property or land) with the intention of adding value by renovating,
refurbishing and/or extending to generate a positive return on investment. It
really is that simple. However, getting it right isn’t always quite as
straightforward.
For the progress of this class of projects, it is necessary
to select from a land to build, obtain legal permits, have plans approved by
the corresponding authorities, obtain and prepare the materials, even develop a
previous 3D model for future investors interested in them.
In the United States, there has been a growing trend in the
construction of real estate developments as they offer multifunctional spaces,
luxury amenities, an excellent location, proximity to various services and all
at an attractive price for you as a client.
An extremely practical solution considering that, thanks to
the current situation in the world, a large part of the population is studying
or working remotely, always considering your well-being, comfort and
functionality.
Although there are numerous potential financial gains to
developing property, it is also important to understand the possible risks
involved for inexperienced or first-time developers. Here Jack Bistricer
explores the pros and cons of property development whilst highlighting the advantages
of working with an experienced development company.
The biggest advantage of property development is the
potential to generate significant return on your investment. However,
identifying a property development opportunity that is likely to deliver the
desired level of return can be extremely challenging, especially for first-time
developers.
Jack Bistricer and his company Talisker specialize in
sourcing real estate opportunities in unique locations, transforming them into
high quality homes to achieve maximum financial return.
Over time, property has proven to be a more stable
investment when compared to other investment options. Despite it’s up and
downs, the property market as a whole tends to be a lot less volatile than
other markets, such as the stock market.
Jack Bistricer offers investors a unique opportunity to take
advantage of the team’s skills and experience and to invest into their choice
of development projects, generating potentially significant returns on their
investments.
Let me ask you several questions about your real estate
business, to see if your strategy is in the long term,
§
Are you now laying the foundation for the sales
you hope to have in 6-8 months?
§
Do you use any method or system to be close to
prospects who tell you they DO NOT want to sell now?
§
In short, apart from current vendors, are you
trying to generate business in the medium-long term today?
You've probably heard the phrase that says "The Money
Is In The List." Well, it is not 100% true.
According to real estate executive Jack Bistricer, you don't
need to have a huge list of prospects or followers to be able to generate
sales. It's not so much about the size of your list ... as the relationship you
have with those subscribers, and the influence and credibility you generate to
convert them into customers.
So, the question is ... how can I build a strong
relationship with my little subscriber list?
Here, Mr. Jack Bistricer, Chairman and Chief Executive Officer at the Talisker Club offers you three tips that can help you achieve
exactly that.
Having contact with
the client after selling a property can be the key so that as a broker you
obtain better results, hence why the real estate after-sale service is
important. According to Jack Bistricer, CEO of the Talisker Club, after sales
service plays an important role in customer satisfaction and customer
retention. It generates loyal customers and increase a brand value.
It takes far more time
and energy to gain a new customer than to sell your product repeatedly to those
you already have. It is therefore mandatory in Jack's book to provide excellent
service to his customers, especially after he has made the sale, so they will
continue to do business with him in the future.
The relationship with
the buyer should not end as soon as the acquisition process ends, as in the
future it may be the means to reach more people. Implementing this stage in
your sales strategy can be that one thing that distinguishes you from other professionals
in the real estate sector.
Here, real estate executive Jack Bistricer shows you an overview of everything related to
real estate after sales.
Do you know what a real estate Multiple Listing Service is?
On this occasion, real estate industry expert Jack Bistricer explains in detail
what this system consists of, how it works and what advantages it can offer to
your real estate agency.
If you don't know the meaning of MLS real estate, don't
worry! Jack Bistricer will begin by explaining this concept in a brief and
simple way so that you do not have any doubts about it.
We can define the Multiple Listing Service (MLS) as a
collaboration system between different professionals in the real estate sector
that seek to provide a better service to the user.
Through this MLS real estate system, properties are shared
exclusively, which are transferred to a common real estate exchange for the
members. In this way, everyone who is part of the system can offer these
properties to their clients.
You may wonder what is the benefit that each professional
obtains with this method. When a transaction is closed, the fees are shared 50%
between the agent who contributed it and the one who managed to close the deal
with the client.
Users often access a real estate MLS network in order to
enhance their customer experience through professional service coupled with the
use of the most innovative tools.
Many real estate agents choose this method, since a group of
the best professionals in the sector is produced to provide the client with the
property that they really need. Efforts come together and, therefore, the
result is more satisfactory, explains Jack Bistricer, CEO and Chairman at Talisker Club.
In addition, the coopetition allows the agents associated
with the MLS not to be alone during the difficult process of buying or selling
a property.
Some professionals believe that belonging to a real estate
MLS has given them greater recognition, an increase in fees and they have been
able to offer excellent quality services, so there has also been an improvement
in the image of the company.
As for whether the client is concerned that their home will
be shared, the truth is that the vast majority agree that it should become part
of the system, since the chances of success increase considerably.
Implementing an MLS in your real estate agency will provide you with many advantages. For example, you can participate without having to leave the office.
Ultimately, both the recruitment and sale process become
something more enjoyable for the real estate agent and success increases. Read
on to find out in detail what are all the advantages and benefits of a real
estate MLS.
Jack Bistricer roughly summarizes the use of an MLS in two
functions:
·
It is responsible for producing a greater uptake
of properties in a simpler way.
·
It helps clients find their ideal home quickly.
The sale closing process will require less time compared if we only offer the
homes of our agency.
By belonging to an MLS for real estate, you get a lot of
advantages and benefits. Here are some of them:
·
Closing efforts are simplified, since properties
are shared within the system. This means that we can close deals with a greater
number of clients.
·
If you do not have a wide portfolio of clients,
you can offer the properties of other real estate agencies.
·
The client usually feels predisposed that his
home becomes part of this system, since he is aware that the sale will take
place more quickly as it remains in the hands of a large group of
professionals.
·
A type of networking is created in which each
real estate agent exchanges his experiences with other agents in the sector.
This fact causes an increase in the degree of training and professionalism,
since everyone learns from the other members of the MLS.
·
Users often have access to courses for real
estate agents. In addition, they usually also have forums and other events.
·
Joint growth occurs.
·
The service offered within a real estate MLS
network is better. As a result, the professional acquires a greater prestige
and the client is satisfied.
Entering the world of real estate investing is a great way to build wealth. However, in order to succeed you must find profitable real estate investments. The goal of real estate investing is realizing a good profit. Understanding the return on investment (ROI) concept and how to calculate it is critical to meeting that goal.
Calculating ROI can be a helpful tool in gauging the value of an investment. You're not buying property to lose money, and you'll want a rough idea of how much you stand to gain if you decide to move ahead with the purchase. Bellow, Canadian businessman Jack Bistricer, explains how you can determine your Return on Investment (ROI) in real estate.
The profitability of a real estate can be calculated after
having sold the property, since this way the operation can be carried out with
the exact amount for which the property was sold.
In this sense, Jack Bistricer adds, the return on
investment when selling a property is calculated with the following operation:
(Final sale price - investment price / investment price) x
100
Example: If you bought an apartment for $ 135,000,000 and
with the help of the capital gain it was sold for $ 148,000,000, the return on
the investment is obtained as follows:
(148,000,000 - 135,000,000 / 135,000,000) x 100 = your
profitability was 9.62% and your profit was $ 13,000,000
Sometimes the property is not sold at the price that the
market demands, which is why sometimes you can get much less, and at other
times, depending on the geographical and social context, much more.
As a savvy real
estate investor, Jack Bistricer, Chairman and CEO of the Talisker Club, always
buys investment properties that yield a good return on investment. Here are the three factors to know if the
property will be profitable:
Selecting the right property is quite important. Location is
also an important factor that property investors should take into account
before making any investment decision if they want to succeed in the business.
Location determines many aspects related to real estate investments. In that
regard, the best advice that Jack Bistricer can offer is to buy an investment
property are where demand for real estate investing is higher than the
available supply of properties.
Searching on Internet platforms, specifically in real estate portals or reaching put to a professional real estate agency are good options. Compare real estate properties with similar characteristics: rooms, bathrooms, appliances, common areas, outdoor space.
The main key is to know how much the price can be lowered
during the negotiation. For this, you can resort to official studies such as
notarial ones, to find out what is the real price with which the houses in the
sector that interest you are sold.
Most of the professionals in the real estate sector estimate
that the percentage of discount compared to the initial price is between 10%
and 20%.
When the asking price is known, a profitability calculation
must be carried out. Jack Bistricer, a real estate professional affirms that
"a home must have an annual profitability of at least 5%. Anything bellow
that it is not worth buying".
Investments in the real estate sector continue to position
themselves as one of the most reliable assets on the market. Times are
constantly changing and people who dare to seek new opportunities no longer
place their decisions on instincts. Now the world has vast access to
information and expert advice that gives us the foundation to make good
decisions.
Jack Bistricer, a respected figure in the world of real estate development, offers a unique perspective that blends decades of experience in...
