Friday, 9 December 2011

How to Build a Real Estate Business

Real Estate Business
It's not exactly easy learning how to build a real estate business, but the rewards can be tremendous. Life changing. Wealth altering. One of the common problems faced by entrepreneurs looking to build a real estate business is figuring out the 'how'...perhaps it's more better described in terms of 'how' do you do it, followed up by 'what' do you do to build a real estate business.

In that regard, there's a few relatively simple steps to follow that first starts out with a question. Precisely 'WHY' do you want to learn how to build a real estate business?

If you come up empty-handed - or worse still, say you just want to get rich quick - then go elsewhere...because the reality is that if you don't know why, you don't have enough 'chutzpah' to cut it whenever a challenge arises. These types of people when faced with a potential obstacle get easily frustrated, then cut bait and run.

Similarly, anyone looking to jump on the next 'get rich quick' bandwagon is an opportunist. And opportunistic minded entrepreneurs never focus on doing one thing great, typically meddle in something for a few days or few weeks at best, then as the next obstacle pops up - or if they haven't done a deal in 30 days - they throw in the towel and go elsewhere.

So how to build a real estate business that dominates and crushes your competition? It first begins with an understanding of what is a real estate investor, and what investing in real estate really means.

Since there's no dictionary definition for this one, I'll give you my interpretation. A Real Estate Investor essentially is a problem solver. This is an individual - or group of individuals - seeking to solve the real estate needs of others, in a courteous, respectable, and enlightened manner. As a result of successfully solving the issues at hand, the real estate investor profits both within their heart and with their wallet. 

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Singapore real estate goes digital

real estate
In December, Singapore’s leading real estate agencies officially launched the Singapore Real Estate Exchange (SRX) with StreetSine™ at a ceremony attended by industry leaders, government officials, regulators, professors from Singapore’s leading universities and members of the media.

SRX is an electronic network powered by StreetSine Technology that allows leading estate agencies and sales people to access a realtime system and source the information they need to conduct real estate transactions. StreetSine and market leaders PropNex, HSR, DWG, and OrangeTee soft-launched the Exchange in July last year as part of a coordinated industry effort to share proprietary pricing information and increase efficiency, productivity, and transparency in the property market. SRX quickly expanded its member companies to include most of the market, including ERA, C&H, ECG, DTZ, Huttons, Savills, and ReMax.

Within hours of closing a sale or rental, the agent submits the transacted price and because the agency is linked electronically to the SRX database, it is immediately distributed on an anonymous basis to the entire SRX network and can be used to price other homes using comparable market analysis. On average, SRX receives 300 sales and rental transactions a day. The sales transactions are posted on the SRX weeks or months before they are published by URA or HDB and no other source in Singapore has rental transactions.

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