Home Selling 101: Three Indispensable Tips in Writing Compelling Real Estate Facebook Ads

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“If you are selling real estate and you are awake, you are doing well.”-Brad Inman

 

It is a known fact that most individuals are on Facebook nowadays, as a real estate agent, you should know how to capitalize on that phenomenon.

As a real estate agent, you should be aware that success is not only hinged on selling properties. Know that to be an effective realtor, you need to develop other key areas in your job description such as the ability to generate leads and create captivating marketing campaigns. In fact, it has been shown that riveting and catchy marketing campaigns are paramount when it comes to a successful sale—particularly in a competitive industry such as real estate. After all, how can you reasonably sell a house if you cannot generate a lead to sell it to?

With the internet giving everyone the ease of access to perhaps everything under the sun, know that it would be a very much heavily-relied tool in generating leads. Decades ago, real estate agents had virtually nothing like the internet and had to rely on networking around the town and posting ads wherever possible to generate a lead. Today, this strategy is rendered obsolete and ineffective. With social networking juggernauts in the equation, this kind of strategy does not just quite make the cut. After all, most people would be glued to their phones 24/7, do you really expect them to notice the print ads you would be posting all over town?

In any case, if you want to capture leads in this technologically fixated and advanced world, you need to adapt. How do you do this? Take your business to social media, of course! Of the social media trifecta, Facebook is the most versatile and the most widely used which means that you might be able to generate better leads using this medium. However, you cannot just rely on peppering your followers’ news feeds with ads, you need to create ads that tick, captivate and create interest. As Facebook is primarily a visual tool, your targeting options are rather linear insomuch that it would allow you to delineate the kind of market you want to reach—whether that may be prospective homebuyers looking for a 1br condo for rent in Makati to a unit in Avida Towers Centera. Now that we have illustrated all that, how do you create an attractive Facebook ad? Read on below to find out

 

Use Targeting Option

It is an established fact that among all social networks, Facebook remains to be the most popular. But apart from its widespread use, Facebook is the perfect adverting medium as it allows you to get extremely detailed in targeting your audience. If you have already delineated the goals of your campaign, you can then use Facebook’s targeting options to refine your audience. Be precise about your targeting so that you are guaranteed to show your ads to the appropriate audience.

Utilize Video

With the unparalleled prowess of technology nowadays, you can even stage a home tour without requiring your target audience to be in your property for the showing. Simply use a video recorder and give a guided tour of your house. Taking videos of your property is definitely an excellent way to get the upper hand in the real estate game considering that this technique is rather underutilized. Moreover, most prospective homebuyers would be more receptive to ads with videos as pictures are known to be deceiving. In this regard, you ought to start catching up as well and utilize videos in your ads.

Be transparent

An effective real estate agent, as well as a successful one, knows that they should capitalize on building trust. In this regard, you ought to be transparent with your leads and potential clients. Remember, people who are making a potentially huge financial decision (as well as a personal one) would want to transact business only with a trustworthy individual. While trust can be rather difficult to establish nowadays, know that you can make a good start by being transparent with your ads. In this regard, your potential homebuyers would know that what they see is what they would get and they would never feel like they are being deceived. In the creation of a Facebook ad, be realistic about the imagery and direct in your ad copy. Let the prospective buyer know what they would be getting into and exactly what is included in the deal. Be detailed about your listing and include pertinent information from the price down to the number of bedrooms.

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Smart Home Buying: Negotiating Tips and Techniques Every Homebuyer Must Know

 

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“In business as in life—you do not get what you deserve, you get what you negotiate” –Chester L. Karrass

 

It has never been any question whether real estate is a good investment, it has long been considered a given.

However, considering that real estate property might be one of the biggest investments you would probably make in life, it is imperative that you go approach the endeavor with much contemplation and shrewdness. In this regard, selecting a property is in by no means a task you should treat arbitrarily—you need to weight your options insomuch that you can find a property that is not only suitable to your lifestyle but comes at the best price and terms as well. After all, an old adage in real estate is that everything is negotiable. But, just how much is your prospective willing to compromise? Furthermore, do you possess the necessary skills to bring the agreement equally in your and the seller’s favor?

Buying a home does not only mean scoring the best property available, but it also means getting it at the best price possible as well. However, negotiating is a rather tricky skill that is refined over years of experience. Furthermore, it requires a great deal of knowing when to start the negotiations, how to push for more and when you should stop. In conjunction with all those, you would need to possess a shrewd skill in researching the real estate market plus a commitment to being familiar with your prospective property’s neighborhood. Take note: The more properties there are than people who want them, the better your chances in a successful negotiation are. And in this case, homebuyers have more leverage over the home prices which would then create an excellent avenue for negotiation on some homes.

Unfortunately, most homebuyers are unaware of their haggling options. Consequently, opportunities for negotiations are left unexplored when they should have been capitalized. To ensure you get the best deal possible for the prospective homes you are considering—whether that may be a condo for sale in Quezon City or elsewhere—take a gander at your options for negotiating. In any case, here are some of the techniques and tips you should never miss as a homebuyer:

 

Get an agent

As a buyer, you may have a little breathing room when it comes to the purchase of real estate property. But, that does not automatically mean that you are in the driver’s seat and can dictate the terms of how the sale would go. Unfortunately, with property listings available online, many homebuyers fall into a false sense of security and would think that real estate agents are unnecessary. Sure, you might find a house online but that does not guarantee you can actually get that offer to close.

Put your finances in order

Your offer would be so much more persuasive if it holds more weight. In this regard, you should get yourself pre-approved for a home loan. To highlight its importance, take note that some home sellers would not even consider prospective buyers who do not have a mortgage preapproval making it a paramount requirement not only in negotiations but in buying homes as well.

Do the math before getting hung up on small price differences

More often than not, homebuyers—especially first-time homebuyers—tend to be a little myopic about their prospective real estate property insomuch that they would only look at the price without considering other factors. Sometimes, you need to consider every aspect of the deal before you even consider closing on it or overlooking it. There might be instances wherein small differences would actually mean you get a better property or a more flexible payment rate. In any case, you should do the math and consider the deal from all angles before accepting or rejecting an offer.

Base your offer on the home value and not the list price

Before pitching an offer for a prospective property, take a look at the recent sales in the neighborhood first. From there, you would get the necessary information to arm you in your negotiation endeavor. Keep in mind that homes priced at or below the market value are highly unlikely to budge on their asking price whereas those priced at above market value and have been in the market for a while would be more receptive to lower offers. However, do not immediately jump the gun on the negotiations and accompany your negotiation pitch with a market analysis first.

Be prepared to move fast

Most properties that go in the market tend to disappear as soon as they hit the listings—especially if they are in ideal neighborhoods and are priced reasonably. In a competitive market, keep in mind that your first offer SHOULD BE your best offer. You might never get another chance, so ensure what you offer would not only be persuasive but enticing enough as well.

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Real Estate 101: The Top Five Red Flags for Homebuyers

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“Home is a place you grow up wanting to leave, and grow old wanting to get back to.” –John Ed Pearce

 

The real estate market has never experienced a rising increase in demand as much as it did today.

While it may experience sporadic periods of highs and lows, the fact remains that more and more people are buying real estate in this decade than any other decade in history. Unfortunately, the resultant effects of this phenomenon can have positive and negative takeaways. For one, the robust real estate market would mean a healthy economy, on the other, however, it could open up the possibility of individuals who would try to leverage the market trend into their favor in the worse ways possible. As it is, the rise in demand for real estate properties would also mean a significant increase in home sellers who would try to sell their properties. However, with the real estate market rife with competition, how do these sellers ensure that their homes would potentially be the one you would select? How do they drive the deal home?

While some would just double their efforts in their endeavor to sell their home, some sellers would resort to less than favorable means in selling their homes. This does not mean that they would outright lie to you, but they would not tell you the entire truth about their homes or it might ruin their chances of striking a deal with you. Sellers who are eager to sell properties in challenging and even difficult communities would not always disclose everything to potential buyers. Unfortunately, getting a professional inspection of every house you tour is not exactly feasible or practical for your finances. Not to worry though, you just have to keep an eye out and be a little more thorough during the house tour. Be meticulous about the houses you inspect and narrow down your choices by doing your own pre-inspection.

Whether the houses you are looking to inspect are located in a lush neighborhood such as Garden Towers or somewhere a little more unassuming, here are some of the red flags you ought to look out for:

 

A major exodus from the neighborhood

Sure, one of the things that a home seller must highlight would be the curb appeal of their homes in order to attract prospective buyers. However, as a buyer, you should not let the visual appeal of the home’s exteriors keep you from examining what is down the street. If you notice that there are several other homes for sale or if nearby businesses have been vandalized or have closed down, electing to live there might not be such a good idea. Talk to your neighbors and ask them about the community. If everyone is looking to leave, you might want to take that as a signal that the home would potentially be a bad investment.

Bad maintenance

Another thing you should look out for is whether or not the home seller took care of their homes and took the necessary measures to ensure its proper upkeep and maintenance while they were still living there. If they horribly failed in this aspect, you might not want to push through with the deal with them. After all, if you can see the gutters with plants growing in them and grime on the home times, it would beg the question: What else did these homeowners neglect and overlook?

Bad smells

A home reeking with fetid smells is a home that has been neglected for far too long. Regardless of whether the smell is outside or inside, it would make you think what sort of surprises there would be in store for you on account of the grody smells. In any case, bad smells should be a huge red flag. However, you should also take into account if the homeowner took the extra measure of spraying their homes in huge amounts of Febreeze or by covering it in potpourri. If the house smells too fragrant and would border on cloying, the home seller is probably trying to mask the more noxious smells.

Fresh paint on only one wall

While it is recommended (at times, even necessary) for home sellers to paint their walls in neutral hues before selling them, there would be something terribly suspect if only one wall is covered and painted. Sure, fresh paint can really bring out the potential of drab walls and boring homes. However, they can also be used as a medium to conceal problems such as water damage, mold or mildew. If the room has strange smells or there are any visible stains in the ceilings or walls, you might want to refer to an inspector who can identify molds and leaks.

Faulty or old wiring

Sure, you are not exactly an electrician but it is best to ensure that the electrical wiring, as well as all the switches, are all in good working order. After all, you would not want to subject yourself to busted circuits, flickering lights, and outlets that do not power anything. If outlets are either warm or hot, there might be an underlying wiring problem which you might want a professional electrician to check.

 

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Send Me Your Location: Retail Spaces

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Commercial real estate varies from residential. The type and size of a business is a factor when looking into a potential commercial space. A small enterprise with limited inventory could settle in kiosks. Meanwhile, other firms may require spots in shopping malls or a free-standing structure.

There’s no need to rush when deciding on retail space. It’s much better to build a solid conclusion than a half-hearted decision. Below are pointers that can help one decide which is the best retail space for the business.

1. The space covers the business’s wants and needs.

Setting up a restaurant requires a huge floor area as it has a kitchen and a place for diners. A clothing store or fashion house at Solaris One may expect less than a restaurant. Meanwhile, a repair shop can do well with specific square footage especially when it doesn’t make stock items for sale. The size of the retail space will impact its price. It’s essential to note these details, especially when considering a budget.

Other than sticking to a budget, the potential of the business to expand is s factor to consider. The brand may attract customers that will boost sales and require an additional stock of merchandise, seating or service. The space must be enough to cover current needs, but it must also be flexible to allow expansion.

Lastly, the space must share the brand’s story. It must be customizable and ready for changes and renovations for owners and companies to convey their message to customers.

2. Customers and talents are within the area.

Knowing the brand’s target market provides an idea of the geographical location of potential buyers. If the space is in a place accessible to the target market, it gives them the convenience to avail the product or service. At the same time, consider the climate of the business community in the area. A community of supportive and growth-based entrepreneurs helps micro and small businesses thrive. Meanwhile, a competitive landscape is unhealthy for growing companies.

Future employees and staff must also be in mind when scouting for retail spaces. The ease of travel improves productivity at work. A workplace far from home results to tired and haggard talents. Their fresh energy gets worn out during the commute. When the retail space is near the skilled workers, the business gets the best out of its human capital.

3. The price of the property fits the budget.

Going for a retail space that is over the budget is overspending. It cancels the purpose of setting up a business – generate income to earn a profit. An area beyond financial limit causes troubles later on. Still, the space must be a high-quality retail space that suits the brand and enterprise.

4. Public transport and infrastructure are available.

The main concern when considering clients and staff is their convenience of travel. It’s a plus when the retail space is near different modes of transportation and government institutions vital to your operations. Moreover, it is also an advantage when Internet and telecommunication providers cover the business location. Since most transactions are online, the Internet connection will benefit operations by having a more extensive customer reach and streamlining business process.

5. There is space allocated for parking.

Most business owners forget to consider the need for parking spaces. Ample parking space is valuable for clients and people who are part of the company to prefer to reach the area through their vehicles. How hard is it for them to suitable parking space especially in a busy area such as a central business district. These people may choose a competitor with similar products or service because of the lack of space. Be it in front, back or beside the retail space, and the parking space must be accessible to clients.

6. The space must not have strings attached to it.

The full cost of the space comprises the rent, utilities, construction costs, moving expenses, and a list of other expenses that may not be obvious in the beginning. There may be costs associated with the move such as the restoration or remodeling of the space.

7. The lease terms and rental rates must be secure.

To get the best out of a lease contract, it must be subject to renewal. Any increase in rental rates must be subject to review by the landlord and the lessee. Furthermore, survey the rental price if it is the gross or net. Most figures are net. It only shows the base or the payable amount.

8. Furniture, fixture, and equipment is a must for business.

Their retail space must include furniture, fixture, and equipment since they produce products and offer services. Stocking these items in a corner contributes to an unpleasant environment. The retail space must be roomy for the bulky items. That is a property where rooms are not scarce is a keeper.

Retail Spaces Need the Time and Place to Come Through

The needs of the business entity as well as its customers and staff make up the factors to use as a guide when choosing a retail space. Besides these factors, the basics of deciding on real estate decisions such as lease terms, property price, additional expenses, as well as proximity to modes of transportation and infrastructure, affect the attractiveness of the space.

Note: This article was first published on May 5, 2016, as “Where Should You Locate Your Business?” It was revised and updated for accuracy and comprehensiveness.

Smart Investments: Four Ways to Avoid the Common Pitfalls of Investing in Real Estate

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“Persist—Do not take no for an answer. If you are happy to sit at your desk and not take any risk, you will be sitting at your desk for the next twenty years.” –David Rubenstein

Much like any other career or business in the world, real estate investment takes time, commitment and a little discipline to get good at. It does not only take a fortnight to be successful in your real estate endeavors—for some, but it can also even take years and years of trying, failing, learning and getting back at it again.

The trick here is never to give up and keep persisting. After all, every failure is a valuable lesson. Unfortunately, most novices and budding real estate investors would give up at the first brush of failure because they were under the misguided impression that a career in real estate would mean easy money. This could not be any farther from the reality of how things are. The truth is you will try, and you will fail, but this should not deter you. Study and learn as much as you can about the process and refine your techniques. Reevaluate your strategies and try to pinpoint where you have fallen short before. However, if you wish to mitigate the possibility of committing failures, here are some of the tried and tested ways to do exactly that. Whether you are planning to invest on properties in Avida Towers Centera, there are common strategies (proven by those who had already made a fortune in the industry) that would help you succeed with fewer mistakes.

When investing in real estate, here are the principles and concepts you should consider:

1.) Have an analysis spreadsheet that contains your prospective rental properties

A wise investor would not immediately close down on the first best deal he comes across. Instead, he would take note of that, find more deals, collate them and analyze them in a single spreadsheet. Commence your analysis with the Fair Market Value, money down the improvements done, the rental income, expenses and its prospective ROI figure. Weigh your options by subjecting every possible deal through your spreadsheet. This is crucial because it helps you pick out not only the best properties but the best deals as well.

2.) You are buying numbers

Do not make the mistake of envisioning yourself living in the property you are buying. Take note: You are not buying a home to live in; you are investing to buy yourself numbers. Getting far too attached to the property you are investing on can be a fatal mistake as it clouds your judgment. When you are emotionally involved, you will invest far too much time or capital than necessary which could be detrimental to your ROI. This is neither about what you want nor what you need. It is about how much you can make off the property. Remember, channeling most of your financial resources into one property so that you can bloat the rental rate is not always a feasible option. It might even backfire on you.

3.) Do your research

If you are going to be spending a significant amount on an investment property, research is not only recommended but paramount. Do your research and do it again. As stated above, do not buy the first property you see outright. Take your time and look for more properties. Weigh your options and enumerate the reasons that make a certain property great. Run it through your analysis spreadsheet and let the numbers speak for themselves.

4.) Buy local if possible

The operative word here is if possible. This means to buy local only if you can—not buying ONLY local. Do not get too focused on buying local just so you can check on the property. Quality rental properties are still superior to local ones that do not quite make the cut after all. However, if you are already lucky enough to be living in an area with a thriving rental market with proven returns on investment, then buying local should be your initial focus.

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Neighborhood Living: The Types of Neighbors and How to Deal with Them

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“And good neighbors make a huge difference in the quality of life. I agree.”-Robert Fulghum

Neighbors can either be the bane or boon of your existence.

It all boils down to how you deal and interact with them. Every neighborhood has its fair share of zany and quirky neighbors. Moreover, it also has its fair share of the other kind of neighbors. You know? Those neighbors you do cannot seemingly handle that smiling at each other when you do come across them can seem somewhat forced. Back in the day, almost everyone knew their neighbors or at have at least met them once. However, in this contemporary living setup we have today, it seems like most people would rather keep to themselves considering how perpetually busy their daily routine is. In fact, people would not even be surprised if you have lived in your house for about a decade now and have not had the opportunity to meet your neighbors.

In some cases, this can be a good thing—especially if you are surrounded by oddball and unusual neighbors. However, regardless of what kind of neighbors you have, it is inevitable to have a semblance of a community about you. After all, you are forced to coexist in one neighborhood, so you might as well get along as breezily as you can to ensure optimal residential and neighborhood satisfaction. No matter where you live, how you co-exist with your neighbors can make the difference between a yearly litigious battle and a harmonious coexistence. In any case, whether you live in Avida Asten or elsewhere, it is best to have a thorough understanding of the kind of neighbors you have or might have.

In this regard, you will be able to deal with them better.

1.) The Home Devaluers

While these neighbors are relatively harmless and friendly enough, the same thing cannot be said about how they treat their homes. In fact, they have a specific disregard to how they take care of their homes. Their lawns look like a jungle, and their car is probably left to rusting the front yard. From your perspective, this is more of their problem than yours. Unfortunately, if they live next to or right across you, this can be a significant problem when it comes to the resale of your home. To address this dilemma, communicate with the offending neighbor and get to the root of the cause of their neglect.

2.) The Dangerous Neighbor

Some neighbors are not really worth getting to know at all. However, it would bode you well to be aware what their dislikes and boundaries are so you would never cross them. If you see your neighbor ensuring that his or her lawn is painstakingly spruced up, then you would be wise not to cross that well-manicured lawn. You will never know what might set them off, so it might be best if you just kept to yourself and left them to their own devices.

3.) The Richer than Thou Neighbor

Every neighbor has one. Of course, no one can stop these neighbors from being rich, but the least they could do is stop being so ostentatious and showy about it—at least according to you. It seems to everyone in the neighborhood that they are trying to constantly one-up everyone by buying new things such as the latest cars and latest home improvements just so everyone else can feel inferior. Well, the truth is all you can do is just to cope. Remember, what is sparkly on the outside is not always as glittery on the inside. What you have to keep in mind that every family is dysfunctional to some degree and just because your neighbor is bringing in a new car almost every other month does not mean that trouble is not brewing at home. Chances are, their overindulgence and overspending are both probably trying to compensate for something lacking.

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Rental Investments: Five Excellent Tips to Prepare for A Rental

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“To stand out, you just need to do a few things others are not willing to do.” –Michael Hyatt

There has been no question that renting out one of your unused properties is an excellent avenue for real estate investment. However, with a myriad of rental properties in almost every nook and cranny in the city (from condo units in Avida Towers Centera to apartment units elsewhere), how do you ensure that your rental property makes the cut and gets selected? Remember, every single day that you have a vacancy at your rental property is considered a loss of potential profits. However, while tenancy is mostly a hit or miss thing and has more to do with your luck in finding tenants than anything else, there are ways of ensuring that your rental properties would entice tenants to rent it out.

Apart from being situated in proximity to schools, offices and entertainment hubs, it pays to prepare your rental properties for occupancy by tenants. So, if you have been thinking of renting out any of your properties, here are some tips that would not only help you navigate through the process but make it a bit easier as well.

1.) Start the process at least six weeks out

Of course, if you are getting ready for tenancy, a little work goes a long way to ensure that the home is ready for occupants. Apart from ensuring that the home is rental-ready, you would also want to present it at its best before you even start giving your prospective tenants a tour of the home. Take note; most tenants start scouring the neighborhood for potential homes at least a month prior to their move. So, start at the earliest possible time.

2.) Spruce it up

Of course, part of beautifying your rental properties as well as making an excellent first impression on your prospective tenants is to make sure that the unit you are presenting to them is clean. Apart from cleanliness, you should also invest a little in giving it a little touch-up. Spend some time and money in applying a fresh coat of paint on the walls, incorporate fresh flowers into the home, get rid of the clutter and organize. Remember, tenants, are more inclined to rent a unit that is not only well-prepared but clean as well.

3.) Change your insurance

Whatever existing policy you have might not be sufficient enough to cover you should you become a landlord. So, before signing a lease, it is best if you find time to down with your insurance agent and discuss what available coverage options you have. Ask them about their landlord’s policy which is also known as a dwelling policy and update your existing coverage.

4.) Do not overlook legal technicalities

Before drafting your lease contract, research the existing laws of your area first. Chances are you would be required to obtain licenses and permits. Furthermore, you would also need to undergo an inspection. In most areas, tenancy is considered a business which would inevitably require a license from you—regardless of whether it is only for a single property or a series of properties. Learn the requirements of being a landlord and tenancy before renting out your home to mitigate the risk of getting into legal snarls.

5.) Decide if you will accept pets

Know that even though you will have more prospective clients should you accept their furry friends as well, there will also be some tenants who would not be so receptive to sharing a roof with four-footed creatures. However, ensure that you and your tenant are on the same page when it comes to pet policies. It would not hurt to make sure that he or she is a responsible pet owner as well. Your pet policies should be in place in order to prevent costly damage, noise and other pet-related problems. Moreover, you can then decide whether you will charge pet rent or fees.

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Subletting Alternatives: Four Reasons Why You Should Rent Out Your Units to AirBnb for the Long-Term

“Ninety percent of all millionaires become so through owning real estate.”-Andre Carnegie

Today, the logistics and avenues for real estate investment are continuously evolving in such a way that it caters to almost, every consumer’s demand and convenience. Back then, we saw our rental properties as profit generators and expect our prospective clients to ride us through the tide for at least six months or more. People who are in the vicinity for a short period, however, would have to rely on lodges, bed and baths and hotels. Fortunately, through technology and the influence of the Internet, Airbnb was created. This app allows people to sublet their rental properties for shorter terms while tenants get the satisfaction of living in a place akin to home sans the exorbitant accommodation bill. As a result, a symbiotic relationship is created between the host and tenant in such a way that the host gets short-term profits every time the property is rented out while the tenant has a place to stay for a few days.

However, instead of renting it out for a few days or weeks, you should start considering having it rented out for the long term. Well, if you have an empty unit in Avida Towers Cebu, you might want to consider expanding your Airbnb offering. Here are the reasons why:

1.) You live in the right neighborhood

Not all communities are created the same. There are some neighborhoods that are ideal for cultivating familial relationships while there are those that are ideal for young professionals looking to find their place in the world. If your property is any of two, there is a likely chance that a lot of individuals would be seeking it out. Airbnb provides families and individuals alike a unique avenue to look for a neighborhood that suits their lifestyle should they ever relocate to an unknown city. If you happen to be in the right neighborhood, your listing is a premier pick for long-term lease.

2.) You wish to have more time on your hands

Managing an Airbnb property that has people walking in and out almost every single day can be time-consuming, and if you have a day job, this can sometimes be impossible to pull-off. If such is the case, then you might want to reconsider your short-term listing and offer it for long-term as you would only need to find tenants and that is it—you are done with work. Finding long-term tenants dispenses with the need to update your listing and calendar every day. You would not need to clean and prepare your property every single time a tenant leaves giving you more time to yourself.

3.) You have a second empty home

In lieu of having your second property unoccupied and empty, why not open it up for a long-term rental on Airbnb? It might not occur to you yet, but it could potentially be a profit generator—so, in this regard, do not simply have it empty and sitting ducks. If you do not wish to have various strangers in and out of your home, consider having it rented for the long-term. Not only will this ensure you have a steady income for months at a time, but you would worry less knowing that you do not have different people coming in and out of your property.

4.) You want to be paid on time

An excellent advantage of listing in Airbnb is payments and getting paid on time. Airbnb requires tenants to pay using their credit card which means that rent will be given on time via the service you listed. This is a significant advantage for landlords as it ensures they would not have to worry about clients defaulting on their rental payments.

 

Property Reservations 101

You’ve seen this sophisticated and elegant townhouse Manila for sale. Given that it is near your workplace and your favorite Ayala Mall, you can’t help but purchase this property. What can you do? Reserve!

Reservation is your deposit when you rent a house, apartment, or condominium. You haven’t fully owned the property unless you have paid in full or partial, or depending on the terms agreed upon between you and the seller.

You can now have that condo by reserving it under your name. Property reservation is very easy as you only need the following:

  • seller or property specialist

  • Reservation Agreement Form, and

  • reservation fee

Through the seller or property specialist, you will be able to deliberate which property you should buy, depending on different factors and of course, its availability. After considering these details and confirming the property’s availability, you can continue with reserving it online. You may check the developer’s website and look for the “Reserve Now” or similar buttons to proceed. If necessary, you can also contact the developer for clarifications or reserve the property by visiting their office.

Another important thing is your Reservation Agreement Form. Carefully fill out the form and check all the details and signatures before passing it. If the Reservation Agreement Form is not available online, the developer or seller will be handing it to you. You can simply mail or fax the form to the developer or seller’s office before you proceed with your reservation. If these options do not appeal to you, you can always visit their office and have this done.

Now you’re finished with choosing the property and submitting the Reservation Agreement Form, you are now to pay the required reservation fee. Reservation fee differs depending on the developer and the type of property you are interested in. It can go as low as ₱5,000 and as high as ₱100,000. Aside from cash payment, you can also pay the reservation fee through the following:

  • bank deposit

  • credit card

  • online bank transferable

  • remittance center

  • and other methods advised to you

You will be asked to send proof of payment so make sure to secure an official receipt. Some only give out acknowledgment receipt so better check with the bank or establishment that you have what you need. Afterward, the developer will confirm your payment by sending welcome letters.

Keep in mind that the validity of your reservation fee for new houses in the Philippines is 30 days. Within this period, you should be able to make a partial or full payment for your property. Better ask your developer about the different payment options that you have.

Lastly, here are some other things that you need to know about property reservations:

1. Is it deductible? Definitely! The reservation fee that you’ve made will be deducted from the total selling price. Others deduct the fee from the downpayment.

2. Is it refundable? Unfortunately, reservation fees are non-refundable. That is why you should be sure of your actions and decisions before you consider reserving a property.

3. Is it transferable? It depends on the policies of the developer or seller. Some won’t let you transfer the fees, and others will charge a transfer fee if it’s permitted.

Be reminded that not all properties in the Philippines require reservation fees, so you are to confirm that with your developer or seller. Other developers immediately ask for a downpayment or initial payment. Nevertheless, in whatever reserving and purchasing you will be doing, be sure and secured. Make sure that you will be abiding by the policies you signed for so you can enjoy your property hassle-free!

Real Estate Investment 101: Strategies to Use in Selling Your Condo in the Philippines

“Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity had devised. It is the basis of all security and about the only indestructible security.” -Russel Sage

With the condo housing market at an all-time high, it would be readily apparent that condominium towers would be proliferating almost every corner in any major city in the Philippines. After all, condo living affords a unique lifestyle option that allows for convenience and maximum accessibility. Most real estate developers would build their condominium towers in proximity to major offices, schools, and entertainment hubs–making it a premier housing option for young professionals, newlyweds, and families.

Considering how competitive the housing market for condominiums is, it would be no question that selling your condo unit might be a bit difficult—even in places where the demand for them is the highest such as in Arbor Lanes. However, there are a few tips and techniques to help you sell your condo a bit faster and to make your transactions a lot easier. Do not be mistaken though, the logistics in the sale of a condo unit would involve a great deal of patience (Do not expect to a close a deal right away). Do your research, be prepared to compromise and negotiate, otherwise here are some useful tips to make your condo selling endeavor a smooth-sailing one.

1.) Know when the best time to sell your condo is

When it comes to selling any kind of real estate, timing is a pivotal factor that contributes to the quickness or delay of a sale. Additionally, it would also play a crucial factor in how much you could actually profit from selling your property. Before selling your unit, have an understanding of how property cycles move. In this way, you can determine how far along the property clock would yield more and much better profit. Recurrent events such as rising prices (also known as the boom phase), fall of prices which is the (slump phase) and stabilization phase (essentially known as the recovery period) would comprise a property cycle. Familiarize yourself with this and put your condo up for sale during the market peak where the boom phase occurs.

2.) Determine your property’s market value

Apart from knowing how to time your sale, it is also vital that you know how to price your condo unit appropriately. If you price it too low and you may end up losing profit, and if you price it too high, it will take you longer to close a deal. Consult a professional and have them give you advice as regards the price of your property, or you can try a different tack by looking at online listings that are similar to your property.

3.) Look for potential buyers

More often than not, the sale of a real estate property would be significantly faster with the assistance of a professional such as a real estate broker who would serve as the middle person between you and the buyers. However, this would come at an added cost, and if you do not wish to make that monetary expense, you can always put your condo up in the housing market in online listings. There are websites that would offer free listing where you can list your property. However, do not limit yourself there, advertise wherever you can and go beyond free listing websites. Put up your listings on social media platforms and encourage your friends to share it themselves too.

4.) Secure the necessary documents

Before finally putting your condo up for sale, make sure you are in possession of all the legal documents required to sell it. This will expedite the process of ownership transfer and would make the transaction a lot smoother. Some of the documents you would need areas listed below:

*Certified True Copy of Condominium Certificate of Title from the Register of Deeds
*Certified True Copy of Tax Declaration and Real Estate Tax Clearance for the present year from the City Assessor Office
*Certificate Authorizing Registration and Tax Clearance from the Bureau of Internal Revenue