Bryan R Ziegenfuse: Understanding the working of Real Estate Industry
Bryan R Ziegenfuse is one of the managing partners of a real estate lending firm IFP (I Fund Philly). He had a vast experience of 15 years in the real estate world.
If you're planning to think about getting into the real estate industry, then he had given some of the things that can be considered in order to understand the working of a real estate world, which are given below:-
If you're planning to think about getting into the real estate industry, then he had given some of the things that can be considered in order to understand the working of a real estate world, which are given below:-
- Real estate is defined as a term that refers to the purchasing and selling of properties such as houses, apartments, sections, offices. It is a major industry who provides employment for many people, mainly to those who want to work as a real estate agent.
- He further added that in the real estate world, selling a property is one of the most important things thus, while selling a property; the owner must determine the value of the property and set a target price. He further says that it is important to have a figure which is quite reasonable, because if it is too high then there are chances to lose a potential buyer.
- Stay focused towards your marketing strategy and the most common approach to do so is to recruit an agent who will attempt to sell it on your behalf says Bryan Ziegenfuse.
- If you are planning to sell the property by auction, then the buyers generally have to determine the value for themselves, as auctions can generate competition and push the price up but it can also be a huge disappointment if there are not many bids.
- If you are planning to openly advertise the price of your property, then you can either start from a specific figure or the lowest figure. He further recommended that a transaction usually involves some negotiation between the 2 parties and this can be a great advantage for your real estate business, if there is more than one interested buyer. If the market is slow then you may have to compromise and for doing compromise, your agent has to make a mutually beneficial arrangement.