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There are a wide variety of people that work in real estate. Since it goes beyond the actual sales of the properties, it also includes people giving appraisals to the land, property management construction, and development. Even some fields of work you might not expect like education, banking, accounting, and more are indirectly linked to real estate. Because there are a variety of professionals that need to have some participation in real estate it makes it a much wider market than you might think. Here we will try to answer a few pressing questions like what is real estate? Where can I find recently sold properties near me, recent home sales near me, or apartments for sale near me?
It is important to know that searching for modern homes for sale near me, the house sold recently near me, houses recently sold near me, or big houses for sale near me is important in targeting the right audience. Read on to understand how you can use these to help you get a sale.
Why Should I Get Into Real Estate?
Before we get into recent home sales near me, let’s look at a couple of reasons why you should get into real estate.
There are several advantages to getting into real estate. One of these is that you can assign working hours according to your liking. This lets you manage your priorities yourself as you’re pretty much your own boss. Depending on what kind of person you are, this might take some getting used to but not being tied down to a schedule assigned to you is always nice.
Since you can choose when to work or not and what you do is up to you, working harder is more directly proportional to how much you will earn. Compared to a job with a fixed salary where hard work might get you a raise or promotion, but that relies on your boss thinking whether or not you deserve it. As an individual though, working harder to get better deals will directly and immediately provide results.
Since you work with people looking to start a business, build a home, or take steps to invest in something new, you will meet a lot of people. This can help you beyond your work as having connections in multiple industries can not only help your career and professional life but also your personal life. Besides all the financial benefits it’s also just nice to be able to meet new people often.
Choosing to become a real estate agent is also not as hard as other “higher-level careers”. Although it still takes much work and study to get to the point where you can confidently and consistently make money, it doesn’t take a fixed amount of years like getting a higher education such as a master’s or a doctorate. Of course, that will depend on how much you are willing to put into it as the harder you study and work to become a successful real estate agent can vary if you’re not goal-oriented. You can also start with doing it part-time to dip your toes into the field and see if you can make a transition to doing it full-time.
There are of course many problems you can and probably will come across when trying to become a real estate agent. One big thing that needs to be kept in mind when going in is that being a real estate agent is a very people person kind of job. You need to be accommodating to your clients, not just constantly chasing the sale. It’s important to not only take into consideration what they need but be able to guide them to a purchase that will leave them happy as this will help you in the future. This does mean that you could make less money than if you tried to sell higher or even have no pay at all if your client finds that they don’t need it at that current time. You also need to be strong financially to keep yourself afloat if a sale doesn’t go through.
Understanding Real Estate
Real estate is the land and any permanent fixture on it. These permanent fixtures could be either natural or made by man for example a tree or a shed on a piece of land is part of real estate.
Real property includes the rights to the ownership whereby owners can do whatever they want with the land, develop it, sell it, rent it out, or anything else. Real property can be either classified as residential, commercial, or more.
Understanding Real Property
To further your understanding of real property, it’s beneficial to start with land and real estate. The land is defined as anything up or above the ground while on the other hand real estate also includes everything on the land as well. This includes all the permanent fixtures mentioned earlier.
Real estate is also beneficial to investors and analysts. They observe the market on housing closely as these numbers help in providing an idea of the economic direction. They look for recent home sales near me, current land development, and housing. This is also dependent on the type of housing as this gives a clue as to how the economy is developing in these areas. This is because real estate is one of the economic drivers in the economic growth of many countries. Because of this, statistics on construction projects, both in development and completed ones, help predict where the economy may be going.
Housing starts are what current residential projects are called. An example of how these can give an idea of where the economy is going is if housing starts show fewer single-family homes and more multifamily starts are being made. This will mean a shortage of single-family homes which would lead to home prices rising. Single-family homes are ones with 2-4 units, while the multi-family has five units and above.
Economic Aspects Of Real Estate
These are parts of real estate that help real estate agents gauge the value and potential risk or loss of it in the future. These are also just fundamental parts of real estate in general.
- Scarcity – While in most places land isn’t exactly rare. There is a finite amount of it, and depending on where you are in the world this may be important when considering any purchases.
- Improvements – Anything added or manipulated on the land or buildings that can affect the property’s value is considered an improvement. Improvements done by private individuals that owned the land are considered improvements on the land. These include things like fences, buildings, gardens, and more. Improvements done by the public such as sidewalks and street lights are considered improvements to the land.
- The permanence of Investment – Any improvement to the land is summed up to its total capital and labor. These are then added up to a sizable fixed investment through the improvement made. Even if a building is razed these improvements like drainage, electricity, water, and sewage systems are still considered permanent. This is because usually they can’t be removed economically.
- Location or area – Location refers to what individuals find preferable to their situation. These can affect their value of certain things like convenience, reputation, history, and so on. Location is typically seen as the most important economic characteristic of the land.
Different Types Of Real Estate
There are several reasons to buy real estate. But there are five different types of real estate to help narrow down your search and define their purpose.
- Residential Real Estate: These are any properties that currently serve residential purposes. It could be anything between condos to townhouses and any other residential building with less than five residential units.
- Commercial real estate: These include properties that are used exclusively for the purpose of business and examples of some of these are shops, stations, stores, and more.
- Industrial real estate: These include properties that deal with manufacturing, distribution, creation, and more of products and services and therefore would include factories or warehouses.
- Land: These are properties with undeveloped land or land that is not being used and can include anywhere from a ranch to even places where you get to buy wood.
- Special purpose: These properties are used by the general public and include religious and educational institutions, graveyards, and more.
Steps To Get Into Real Estate
Depending on where you are in the world the requirements may vary, but generally, you want to follow these steps.
- Take a pre-licensing course: This typically takes about 6 months to complete and of course, there is whatever payment you need to make for the course.
- Take the licensing exam: This step is straightforward, just make sure you’re ready and understand everything to ensure that you pass.
- Join a real estate brokerage: Working under a group of licensed real estate brokers may not be the immediate freedom in work you expect, but it is good to start here. Also since being your own broker requires additional finances and usually needs a bit more education.
Why Finding Recent Home Sales Near Me Is Important To Real Estate
Recent home sales near me, recently sold homes near me, recent land sales near me, homes sold near me and any other variation you can think of is useful for anybody in real estate. If there are single-story homes for sale near me or apartments for sale near me, this can drastically change how you might want to approach clients in your area. This is because if single-family homes are being sold then you have to ask why? Could it be because more multi-family homes are propping up? Or is it becoming more expensive to live in the area? These will affect not only your own prices but how you should approach your clients and how you could meet their needs. So finding recent home sales near me is a big factor in what kind of clients you’ll be working with which may make your work easier or harder.
Finding Recent Home Sales Near Me
For finding recent home sales near me several sites can help you see how the market is doing. If however, these sites that provide information on recent home sales near me don’t have your location or maybe you just don’t want to solely rely on them, there are other ways to find recent home sales near me.
You can of course work with either your fellow brokers in your brokerage or if you work solo, get into contact with these brokerages. Brokerages usually keep a database on recent home sales near me, both what they were listed for and how much they sold for. It’s also good to work with them as it expands your connections and keeps you in the loop of recent home sales near me.
There are also large databases online that cover specific locations and recent home sales near me. These are more reliable than general sites as they are updated on recent home sales near me more often.
You can also check online marketplaces where you can follow listings and wait until they are sold and typically the info is there as to how much it was sold for. Keeping in touch with clients, businesses and other brokers is still the best way to find info on recent home sales near me.
You should always do a quick search on homes recently sold in my area, individual houses for rent near me, recent property sales near me, or even recent houses sold near me to get an idea of what kind of people are drawn to the area. Understanding your target audience is the key to closing a deal.