The Six Most Common Mistakes when Investing in Properties

 

There comes a time in life when we must think of a plan to have an income without having to dedicate so many hours of work, enjoy more time with the family and enjoy economic stability.

Investing in properties could be the best decision to reach your financial and personal goals, but be careful not to make mistakes that put your savings at risk! Below, established real estate developer Jack Bistricer, shares the six most common mistakes when investing in properties.

Why should you invest in property?

One of the reasons is that real estate is a safe asset and that it maintains a stable demand, despite economic downturns.

In fact, Jack Bistricer, Chairman and CEO of Talisker Club emphasizes, it is estimated that by 2030, more than 2 billion people will be living in rental housing due to cultural changes. These generations choose to delay marriage, have a small family, or simply do not have the capital to buy a home.

Therefore, for those who seek to generate income to increase their family assets, it is good to invest in properties to use for rent and anticipate demand.

Micro-Apartments - A Real Estate Trend That Increases

Micro-apartments are homes that have had a greater boom in recent years, mainly due to their design and location.

Real estate developer Jack Bistricer, CEO of Talisker Club, shares that these properties offer a space of 18 square meters to a maximum of 40 square meters for its inhabitants.

The living room, the bedroom and the dining room; as well as a kitchen and a complete bathroom are located at the same space in these micro-apartments.

The Three Main Stages of Real Estate Development

 

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.

Real Estate Development Opportunities

 

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.

What is a real estate development?

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.

One of the best options on the market

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.

High return on investment

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.

Greater stability

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.

How to Add Value to “Your List”

 

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.

Why is Real Estate After Sales Service Important?

 

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.

What is a Multiple Listing Service?

 

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.

What is a real estate Multiple Listing Service (MLS)?

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.

Opinions of a real estate Multiple Listing Service

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.

Why implement an MLS?

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.

What is the purpose of a 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.

Advantages of an MLS for real estate

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.