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5 Reasons Why You Should Choose Properties Carefully

5 Reasons Why You Should Choose Properties Carefully

Buying a property or looking for rent is a hell of a task. A lot of work needs to be done which could be daunting for many, thus from the decision to invest in property to actual buying your rental property, a lot of work needs to be done.

Since buying a house or being on rent is an emotional process, as there is always a dream of making a place a home where one will have moments they have dreamed of. So many people fall prey because of these emotions and make hasty decisions while selecting any property.

The common mistakes people make are falling in love with the place they can’t afford, assuming there is nothing better out in the market, being desperate, overlooking important flaws, rushing to put in an offer, offering too much if you like property and dragging your feet if you like a property.

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Since buying property has a number of implications so it is important to keep emotions in check and make the rational decisions. So while considering any property, make sure to follow the following things:

  • Know what you can pay.
  • Think of features you are looking for.
  • Choose rental type.

No doubt it is true that you can complete this daunting task on your own and market your property through an owner website like assetcolumn, but only if one has time to do this as a part-time job. Thus, an agent might be of great help to match your property requirement with the perfect match at a faster rate as they are aware of the market with a wider scope. The following are some reasons why you should hire real estate agents:

1. More convenience

It’s the job of a real estate agent to act as an intermediate person between sellers and buyers. Thus, he or she will have access to all properties listed by the other agents. For example, if one is looking to buy property, a real estate agent will hunt down all that will meet your criteria, get in touch with sellers and make appointments to view the property.

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So this will ease your work as they will do all the things regarding appointment and finding you just need to view. Similarly, if you are selling a home yourself, then you have to set up the calls with interested parties make appointments and answer questions yourself. And one has to keep in mind all the potential buyers and respond them quickly.

2. Negotiation is tricky

Many people don’t like the idea of doing a real estate deal through agents as they feel direct negotiation between sellers and buyers is much more transparent and it lets the involved parties to look after their own interests which is true as it results in transparency.

But, this is not true in all cases because as a buyer, you cannot express all the concerns to the owner but it’s easy to explain those to a real estate agent so they can act as a messenger as they are in a better position to negotiate.

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Always keep in mind that the owner can reject a buyer’s offer for any reason, even their attitude for example, so the agent can help by speaking on your behalf and handle the situation in a better way. The same goes for the seller, who can be benefited by a real estate agent who will convey their interests to buyers without turning them off about price or because of some other concern.

3. Handling of contracts

One should always draft the contract during buying and selling of property so as to ensure that what you are getting is a part of the deal or you can back out of the deal at any time if certain conditions are not met.

Thus, a real estate agent deals with the conditions and contracts on a regular basis and they are familiar with clauses which need to be drafted as part of the contract – what can be removed and how to use the contract for your interests, whether one is selling or buying property.

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4. Neighborhood awareness

The agents have complete knowledge about the neighborhood as well. They can collect information and hand it over to you and also inform you where you can find schools, supermarkets, and other demographics. All these details are highly beneficial while looking for property, particularly in an unfamiliar place. So one needs someone reliable and a person who is aware of the neighborhood.

5. Guidance of price

Agents don’t bind you to a particular price of a property but can guide you to settling on a price. Agents can guide clients to make the right choices for themselves. And at the same time, they will provide all the data for the buyers to make a choice based on price and amenities provided. Thus, based on demand and conditions, market supply real estate agents will devise a negotiation strategy.

Everything has its own pros and cons so it’s totally dependent on the individual to decide. As far as my experience goes, is it is always better to hire some real estate agent while looking for a new property if you are new in place as they have a number of referrals. Since the agents have great capabilities to make clients satisfied and happy, many agents will mail you periodically all the updates about the market to keep you posted so your commission will be fruitful.

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Abhay Jeet Mishra

Writer at Lifehack & Enterested.com

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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Featured photo credit: Austin Distel via unsplash.com

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