Reasons To Be Careful When Choosing An Online Marketing Agent For Your Property

Buy sell Property & Real Estate Investment Guide

Buying Property Tips#1: Choose the Right Location
Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.
Buying Property Tips#2: Study the Local Market Dynamics
It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.

With the rise of technology there are a number of sellers and landlords who are considering an alternative to traditional estate agents, by using a purely online marketing agent for their property, due to the lure of very cheap fees. In most cases a purely online agent will simply market the property on online portals such as rightmove and zoopla and leave the viewings down to the property owner. For some this can seem like an easier option but having a good quality estate agent is not always as costly as some alternatives in the market.

By using a good quality estate agent to market your property you can be confident you are dealing with a specialist who will be able to advise you on all aspects of the selling or lettings process. They will be up to date with current legislation and market conditions for your area as well as having the benefit of a database of applicants searching for similar properties. In most cases a good quality estate agent will also be able to generate a positive interest in your property which in turn can demand a better price than that achievable by a purely online agent simply advertising a property.

Buying Property Tips#3: Choose the Right Property
Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.
Buying Property Tips#4: Do the Math Properly
Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.
Buying Property Tips#5: Consider Additional Expenses
When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.

It is an old saying which suggests “you get what you pay for”. In most circumstances an online estate agent will charge for their services in advance. one of the benefits of using a reputable property agent is they have to work for their fee. They will only ever charge you for their services once they have found you a suitable tenant or buyer for your property. There is a fine line between a “bargain” and “to be good to be true”. Some online agents use fee comparison guides, which on their own look very attractive as it would appear you are saving sometimes thousands of pounds. In reality most property owners end up achieving a lower price than a good quality estate agent or end up instructing a traditional estate agent to actually get the job done and paying the original fee along with the online agents upfront charges.

A common misconception from property owners considering an online agent is that because a similar property down the road achieved a certain price by simply marketing the property the people who missed out on that property will all flock to their door. This is not always the case. Many people still have trust in the traditional estate agents and like dealing with an intermediary on the viewing and during the complex sales or lettings process.

Even if you are considering selling your home with a purely online marketing agent, it is always best to speak to a few different reputable estate agents in your area first. Get to know what you may be letting yourself in for. Although you may be confident in the current market conditions and even property legislation, there are always scenarios which you may not have been aware of. The potential risks often outweigh any potential cost savings advertised and in most circumstances you can be left with a false sense of economy and potential issues arising from not having the advice, support and knowledge of a professional on hand.

Buying Property Tips#6: Inspect the Property
To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.
Buying Property Tips#7: Pick the Right Financing Option
While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.
Buying Property Tips#8: Invest through Equity
One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.
Updated: December 29, 2017 — 12:21 am
Property Investment Buy & Sell Guide © 2017 Frontier Theme