Until the middle of the 1990’s elite real estate realrry did not exist in Moscow as an entity. Most prestigious and most expensive on that moment were what was called Zhekovskiy Dom, which were built in 1960-70’s. House on the even side of the Kosigin street until now considered to be very prestigious, mostly because of its location. The standards for the elite real estate in Moscow have began to change rapidly since 1996, when on the Veresaeva street was built first elite house in Moscow. From that time the basic place for the concentration of the apartments of top- class became the regions Of Ostozhenka, Prechistenka, Tverskaya, Arbat. Until now this territory is the focus of the most expensive apartments in the country and one of the most expensive in the world. The cost of new apartments here frequently begins with 15 thousand dollars for 1 sq. m.

The major principle, by which status is defined and, correspondingly, the price of real estate, in the English-language peace they designate as the principle of three L, in the Russian version - three M: location, location and again location. The majorities of Russian customers for “elite” apartments are looking for them; being also guided by this factor. Therefore, although people talk about overpopulation and about other deficiencies of the “golden mile” buyers are assured: the present apartments of top- class are found only here. As the director of the department of elite real estate Of Penny Lane Realty Alexander Ziminskiy notes, with this selection “the clients value not only the prestige of region and proximity to the center of Moscow, but also the homogeneous social medium, which was formed in these territories”.

True, that for the past couple of years the regions of elite building in Moscow nevertheless gradually enlarge their boundaries. This is due first of all with the fact that areas in the center convenient for the building began to run low. Then appeared new possibilities for the building at the places of the conclusion of large industrial zones, like factory “Red October” (“Gold Island”) or plant “Natural Rubber” (region Of Plyushchikhi) The territories of the former factories give to developers one big advantage size. “Next to each house it is possible to arrange “the territory for the life”, which according to its qualitative characteristics will correspond to house itself”

Furthermore, as some experts consider, that Ostozhenka region is strongly overestimated. Sales on “golden mile” are not as active as before. “When the building Of Ostozhenka only began, buyers, in the essence, acquired not concrete apartment, but concept, dream about the gold life on “golden mile”. Now, when concept is personified into the life, some of its components prove to be completely questionable, discusses Kaydo Kaarma. - The basic problem of Ostozhenkia lies in the fact that it is not intended for the family stay, consequantly these executive and business-like apartments most of the time are empty”.

The demands of domestic buyers for elite apartments because of the absence of their own examples were formed, from one side, under the effect of the foreign standards, with another - under the pressure of Russian reality and stereotypes. Hence the discordance of opinions and tastes. “Because of the considerations for safety, many buyers have great desire to live in the populous complexes with protection, fenced territory from the environment, in the large and remote from the ground apartments”. Others for the same reasons prefer the isolated club houses with the face-control and the limited number of neighbors.

One of the last tendencies on the market is connected with “the passage” of top- apartmnets only further from the center and with the appearance of more major multi-apartment projects. New elite houses will further increase in number of floors. Especially as the attitude of buyers toward a large quantity of neighbors also changes. “Certainly, this size is incapable to ensure comfort of stay, inherent to limited number of apartments club houses. But, as show the results of sale of apartments in a number of similar objects, this does not confuse buyers. The clear example of a similar habitable complex is project “Fusion Park”. “The requirements are erased for the large scales projects: is conducted the building of skyscrapers and many-storeyed houses”, However, this position is not approved by all.

As a whole “elite real estate” - the concept is just as misty as “ordinary apartments”. There is the specific collection of associations and requirements, which answers the typical project, but there is no clear signs and boundaries. Situation with the classification is complicated by the fact that realtors and the housebuilders love to pick out subcategories directly in the elite segment. From their names and differences in the inexperienced user it can hurt your eyes. Deluxe, club, VIP- class or class A all these are considered to be designation of elite houses. “Everything, which is close to them, but for whatever reasons does not suffice to “complete elite status”, it is accepted to call them B- class or premium. “The category of project is determined by housebuilder himself. Overstating as a rule, occurs. Frequently in order to sell, it issues “business” for “the elite”, premium for deluxe”.

In the past year, when apartments in Moscow’s market rose in price with the unprecedented speed, elite segment somewhat lagged behind in the middle rates. Its increase was smoother, but steadier. When during the last year’s autumn- winter Moscow market arrived into the state of stagnation, “elite” apartments continued gradually to collect in the price. As a whole, last year the cost of this form of housing grew by 70%. There were no such forecasts predicted by any company. As a result in 2006 Moscow entered into tens of the most expensive cities of the world based on the cost of habitable real estate.

The today most expensive proposals in the elite segment are concentrated on the market for already owned apartments, whose owners are willing to rent them out for a high price. Apartments in all known branded houses, such as “Agalarov khaus”, “Stolnik”, “Monolith”, are sold on the price above 30 thousand dollars for 1 sq. m. “It is understandable that this purchase can be compared with the acquisition of expensive automobile, for example Bentley, when the part of the money you pay not for the functionality of machine, but for the brand. Staying in this house together with comfort and convenience in the location assumes specific status, for which the buyer is ready to pay”. According to the data “new quality”, the minimum level of prices on the elite market - 7 thousand dollars, maximum - 37 thousand dollars.

According to the report of the company Knight Frank for the first quarter of 2007, the mean cost of 1 sq. m on the primary market for elite apartment composed 16,8 thousand dollars, on the second - 19 thousand dollars. The rate of increase in the prices within this period reached 15,4% and 0,8% respectively. As a whole in the first five months of 2007 an increase in the cost on the primary market for elite dwelling was of about 16%. These data attest to the fact that in the elite segment reductions in the prices does not be worth awaiting. They will continue to grow, although it wil not have the same rate of increase as in 2006.

If you like my article, please read more at my website at

www.eng.realtor.ru



Sell and Rent Back

Repossession can be a very unpleasant experience. It can have serious long-term consequences on you and your family, both emotionally and financially. Many homeowners are faced with the imminence of repossession because of a difficult financial situation that can be caused by a number of factors. If you think that home repossession is an irreversible process, you will probably be relieved to know that there are ways of avoiding the demeaning and unpleasant experience of losing your home on account of failure to make mortgage payments. Many people run the risk of losing their family home on account of misinformation. It is very important that you know all your options when you are faced with the prospect of repossession. There are several ways in which you can avoid eviction and repossession orders. You will eventually get to keep your family home, provided you make informed choices in your attempt to stop home repossession.

First of all, you are probably aware that the amount of money you will have paid the lender by the time your mortgage payments are over exceeds the retail value of your home by far. Therefore, the financial institution is more interested in receiving the payments you are supposed to make rather than in selling your property. In other words, the financial institution that has originally granted your mortgage loan may be open to negotiations and alternative solutions. Therefore, it might be a good idea for you to contact your lender and try to agree on a reasonable solution to making your overdue payments in order to stop home repossession.

Second of all, you can avoid eviction and repossession orders by taking out a second mortgage on your home. You can stop repossession by refinancing the mortgage and whatever other loans or debts you might have. This solution is worth looking into well before eviction becomes imminent.

If neither of these solutions works in your case, you are still presented with a very good option, namely selling your home for cash in order to avoid eviction and repossession orders. At first, this idea may not seem too appealing, which is only understandable. After all, a traditional sale process can be a very long and tiring experience, at the end of which you may not come out on top. However, if you make informed choice, you can stop home repossession and continue to live in your home even if you have sold it. The solution is fairly simple. All you have to do is contact a local investor with plenty of experience in the field of rapid property sales, sell your home fast for cash and continue to live in it as a tenant until you are financially capable of purchasing the property back from your buyer. Most homeowners who want to avoid eviction and repossession orders agree that this is the optimal solution. There are many investors that specialize in solutions to stop home repossession. After a careful examination of your situation and options, you will certainly come to the conclusion that selling your home fast for cash and continuing to live in it as a tenant for a fixed amount of time is the most equitable solution to avoiding eviction and repossession orders.



Sell and Rent Back

Fewer than 10 years ago, Charlotte, NC, was a medium-size city with a strong banking industry. It quickly grew into one of the southeast’s most prosperous cities, drawing revenue from Wachovia, Bank of American and smaller, funds management businesses. This growth spurred more growth. People arrived and the population grew. Residential and commercial property was built and the real estate market boomed.

Then the recession hit and Charlotte’s quick rise stumbled. Too many project developments, too many residential properties on the market, and not enough buyers, or not enough capital to sustain the gigantic real estate bubble.

Now Charlotte is in a precarious situation. It is working hard to pull itself up from the recession. It is using its vital economic muscle to make the coming years prosperous and healthy. It is leaning on its cultural attractions, its high quality of living and successful population to attract commercial investors and realtors with the future in mind.

Make no mistake, though, that real estate is a hot topic in Charlotte. Many downtown buildings and office spaces are for sale. Bank of America and Wachovia are in transition, Project developments need to be sold and homeowners are waiting for the economy to recovery before they think about selling or moving into another home. For some, if you have the capital, good credit and job security, now is a good time to consider buying a home. One local development firm is happy that some people are in this category. The Royal Court Condos, slated to open in February, are selling and prepared for occupancy.

The building – 11 residential floors atop 21/2 of parking – has 35 units left for sale, but competition is getting scarce.

Fewer than 1,000 high-rise units are still under construction in the center city. Three towers have been postponed, and two have been halted by legal disputes.

“We feel good about Royal Court,” Hollidge said. “The financing market on future construction will limit the projects coming out of the ground for the foreseeable future.”

The market should tighten and could work in Royal Court’s favor as fewer units are built in and around the city, said housing analyst Emma Littlejohn of The Littlejohn Group.

This is good news for some. For others, the trick now is to wait out the economy, to raise capital and plan for the future. If that sounds like the most reasonable thing for your and your family, a smart option is to rent in Charlotte. Plenty of attractive, affordable apartments are on the market.



Quick Property Sale

As the news stories about the woes of the property markets continue to pile up in the media, more people are tempted to put their homes on the market in the present climate to see if they are able to sell ‘at the top of the curve’ and take advantage of the capital gains they have made in the past years of the property bubble.

While experts disagree over the size of the market ‘correction’, or the length of any downturn in the market that is likely to take place over the next few months or even years, there is little doubt that more people will be in a position where they feel under pressure to sell their property as quickly as they can. The danger is that in putting your property up for sale you will be tempted into taking a much lower offer than you should, as well as the stress of dealing with demanding buyers.

On the other hand, being unrealistic about the value of your property, the motivation of your potential buyers, and the market conditions could lead to being stuck in a situation with a property that has been extensively marketed and still does not sell, despite discounts to the price.

Some of the situations you may encounter over this period of toughening market conditions are explored here, along with some possible strategies to help you sell your property at the right time and for the right value.

Be Objective - This is particularly important when you are selling your own home, rather than any kind of investment property, but it is vitally important that you are realistic and able to take the fact that agents or buyers may suggest you sell your property for less than you think it is worth.

This does not mean that you should just give in without a fight to the first offer that comes along, when you are convinced that the property is worth far more, but make sure your position is backed up with solid facts. In market conditions as they are at present, research in the local area is even more important, and can be the key to making your sale successful. Check estate agents’ windows regularly to see what at price similar properties are on the market, as well as how quickly they move.

Also, try to compare your property to other similar ones for sale in the same area, and be as objective as you can. Essentially, these similar properties are your competition for buyers, and you need to know where your property stands in relation to them. Think about things like proximity to schools, shops and leisure facilities on the positive side, and main roads, traffic black spots and industry on the negative.

Knowing all of this, and listing where your property is stronger than most of the other similar properties on the market at the time, will allow you to price your property effectively and realistically, as well as helping in its marketing. The knowledge that your property has the best gardens of the type, or has an extension as a utility room should allow you to bring out the advantages in the details as supplied by the agent, as well as helping you to sell the property when you are conducting viewings.

Aggressive buyers and tactics - One of the biggest problems with selling with the current turbulent market conditions is that buyers will feel they are in a true ‘buyer’s market’. This means they will feel emboldened by the prospect of being more sought-after than the property they are considering buying, a situation that has not occurred in the UK for example, in at least five years. Given this fact, buyers are taking up some practices that have not been seen by vendors for a few years - some of which are just a shift in the landscape and relationship between buyer and seller, other which are a degree more unsavoury or even immoral.

One of the biggest differences that sellers will notice in the current climate is the time factor. Buyers are now far less likely to be rushed into making an offer, or improving an existing offer as they will have the impression that you need them more than they need you. While this can be true, it pays to be prepared to wait for offers and responses to come in.

Of course, this is a legitimate buying tactic in the same way that in a rising market sellers are able to make buyers wait for their responses to try to make sure they would be prepared to move their offer upwards. Buyers will feel that by holding out on making their first or follow-up offer, they are sowing the seeds to make sure that you are ’softened-up’ for a lower offer than would otherwise be normal.

Be aware in this situation of the research you have done on the right price for your property, and be prepared to stick to your guns - but not too much. While it is quite fair to ask for a fair price in negotiation, if you are completely inflexible in the money stakes, you will scare off legitimate and fair buyers.

Once you have accepted an offer for the property, there are other things that buyers may now feel emboldened to do given the market conditions. For one thing, the agreements for fittings and fixtures may go on longer and be more intense that you might expect. Again, buyers will feel that they are in a stronger position to demand that some of the items you would have taken with you remain in place or are prepared to pay less than you want for them.

In this situation you would be well-advised to try to keep the two issues separate, while the buyer may be keen to suggest that unless you move on the fixtures and fittings the whole deal could fall apart. If they continue to be stubborn on this point, and you feel that they are close to pulling out of the sale, there may come a time to make a difficult choice. If you give in to their demands, can you be sure that this is the only issue on which they will be aggressive, or will it be a signal to them that they can push you into a corner in any of the negotiations? Would you prefer to keep this sale, no matter how much you have to smile through gritted teeth, or are you confident in finding a buyer? There is no blanket answer to this, and each situation can only be judged upon your feelings at the time.

One of the more worrying trends in recent weeks has been the idea of buyers gazundering sellers. Gazundering is a process by which buyers agree a sale price and put the wheels of the sale in motion, only to demand a hefty discount on the property price at a very late stage, often just days before completion. The discount demands can be anything up to 20 per cent off the agreed price, and sellers are left with the option of either giving in to the demands of their buyers or risking losing their sale, the house they want to buy and causing the rest of the chain to collapse.

Some websites are deliberately promoting gazundering as a legitimate bargaining tool in the house buying process, and even go so far as to say buyers should have offers accepted on three different properties to maximize the chances of one of their gazundering attempts being successful. Most people will see this as a morally-questionable way of entering into a sale, but be aware that there may be some people out there who are willing to try it.

Make the most of what you have - Many of the properties that are coming on to the market at the moment are quite similar - in some areas there are so many two-bedroom apartments for sale at the moment that sellers are dropping their prices by up to £100,000 (approx $200,000) in order to attract attention from a smaller pool of potential buyers than has been seen for some years.

In this situation, the best thing you can do is to make sure that you have maximized the features of your property that are going to attract buyers and make it stand out from all of the other properties of the same type they will have viewed already. If you have a huge kitchen, make sure it is clean and tidy but that people can see you enjoy spending time in there, if the garden is 30 yards longer then the neighbouring properties, make sure it is tidy, the lawn mowed and some colour and life are evident. You may even want to demonstrate the its lifestyle possibilities by putting out garden furniture to show how it can be used.

A recent survey also suggested that spending a small amount of money on refurbishing and remodeling parts of your property can not only get you back almost the same amount of money as the investment you put in, but will also help to make the property stand out to buyers. Purely on a monetary basis, it is said that a minor remodeling of the main bathroom in a property is the best way to spend on the interior of a property, with up to 100 per cent of the investment being made back on the property sale.

Making your property ready for viewings is also important. Some say that brewing fresh coffee or baking bread in the kitchen is the best way of making an impression on people viewing the property, but nothing will stick in their minds more than a well-presented, well cared-for home. The much-vaunted ‘kerb appeal’ factor is very important in creating the right first impression and setting the tone of the viewing. Pets and clutter should both be banished for the duration of the viewing, and if possible and necessary, you may want to send the children and partner to the park for an hour while people are viewing the property.

What you really want to create in a competitive market like we have at the present time is a lasting impression on potential buyers. If you can let each of your viewings leave with a sense that they want to be in your property, and can see themselves happy there, you have won half of the battle and will have a better chance of sticking in their minds.

Think differently - Don’t be afraid to do something a little different in marketing your property to the buyers that are out there. Remember that there are always people who are looking to buy property, even if there aren’t as many as there were, or as many as you might want to see. In fact, many buy-to-let investors are looking to expand their property portfolios now as they see it as a perfect time to buy the properties they want, as well as a time when there will be more people who have to rent instead of buying themselves and getting on the property ladder.

Some sellers will see this as the right time to look into selling their property on their own, and not using an estate agent. Certainly the fees that will be saved on any purchase are a welcome bonus, and perhaps that will allow you to be a little more flexible on your pricing than someone who also has to pay their agent a commission at the end. Selling without an agent is not something that should be tackled without careful thought and preparation however, as doing things wrong will waste time and money, and will ultimately make it difficult to sell the property later through an agent if the independent route fails. Many agents will be reluctant to take on a property that has been on the market independently in the recent past, as they will feel that it has been overexposed to the market, and their chances of success are therefore diminished.

Even if you are using a real estate agent to sell, you can still get creative with your own marketing strategy. There are some wild and interesting ideas of how you can bring attention to your property sale, from having bumper stickers made up and taking out advertisements in local papers on your own. One of the more targeted approaches works very well if your property is in the catchment area of a well-regarded school. Some sellers have been known to hand out flyers at the time when parents are arriving to collect their children, as they often know someone who wants to move to the area.

If your property is particularly attractive and stands out from the crowd, you may want to consider holding an open house for potential buyers to come along. This is a particularly good idea for desirable properties - it brings in interested parties to have a more leisurely look around the property and even to take a little more time to discuss finer points with you personally, and if you are lucky it will also mean that they will see other interested potential buyers arriving to look around and spur them into making a good offer.

Don’t panic! - Despite some of the media stories to the contrary, there are still properties that are being bought and sold across the country, so there are buyers out there. They may not have the huge and easily-accessible finance options that were available a year ago, and they may not be as willing to enter into a bidding war to get your property, but they are still out there. A well-presented, loved, realistically-priced property will sell, as there will be a buyer out there who wants it.

Try to be patient in waiting for viewings, offers and negotiations - not only will you find it stressful; you will also transmit a kind of desperation to the buyer that they can use to drive your price down.

It is also a good idea to have a set of limits and a back-up plan if the market turns out not to want to buy your property in the timeframe you have in mind. Set a lower limit for offers that you will accept, a time limit that you want to lave the property on the market. Should a sale not happen, or the price you are offered is too low, consider updating and improving the property you already have - either for you to continue to enjoy, or for a fresh assault on the market.

If you need to sell quickly - Should you get to the point where you need to sell your property quickly, there are a couple of options that should at least allow you to escape from a sticky financial situation. Sometimes these options are looked down on by many in the industry, and while they do offer opportunities to those involved to make money from buying your property cheaply, they can offer sellers a way out and still give them some equity to play with.

Auctioning property in the UK has not really taken off significantly, despite numerous efforts to promote it as a good way to buy property. Some properties are auctioned, and it is often repossessed or probate properties that make up the lots. This can be a good way to make sure that you achieve a reasonable sale, so long as you don’t put an unrealistic reserve price and are prepared to accept a slightly below market value price. If you are lucky enough to have two or more bidders who are keen to get hold of your property you may get a higher price than you imagine.

Another option is to go to one of the quick sale companies in the UK market, who offer a range on service to allow you to sell your home quickly and get your money out in a short space of time. Backed by the fact that they have cash reserves, these companies are able to offer cash within days to most sellers. They make their money from buying properties below the true market value, but that is the price you pay for being able to get your hands on a significant amount of capital in a short space of time. For people who are in more dire financial straits, these companies also offer ‘sale and rent back‘ schemes to allow them to get their capital out of the property and still have their home to live in.



Rent Back Fast

If you plan to carry out a structural bathroom renovation, it is best to consult with professional bathroom renovators about local building codes along the way. Structural renovations are all about changing your bathroom’s wall by taking out sections of it and adding doorways or windows. It also involves plumbing work and raising ceilings.

When doing a bathroom renovations project, you will most probably add more value to your house since the money you will invest in remodeling your bathroom yields into equal or greater returns when you try to sell your house. It will always be a good idea to keep the receipt for most of the work you have done during the project since these expenses can be deducted from the taxes you will have to pay when your house is sold.

Before you start any project that involves bathroom renovations, it is best if you try to plan extensively. Also, if it is within your budget, better if you hire bathroom renovators Sydney that can efficiently do all the work with minimum supervision.

At St Ives Bathroom Renovations, they aim to give a lifetime experience. The friendly team at St Ives Bathroom Renovations will be there to help you create the bathroom of your dreams, whether it’s to transform a bedroom to a bathroom or simply to renovate an existing bathroom. They also provide fine tapware, vanities, basins, sanitaryware, glass blocks, tiles, spas and all other bathroom accessories. They are a family owned business and pride themselves on their exceptional one on one customer service. Their in house design team can help you design your tailored bathroom to suit your individual needs. They have renovated over 300 bathrooms from Wahroonga to Mosman.



Real Estate Professionals

If you are trying to stop repossession of your property, there are several things you can do to help the process.

First and foremost, you should take good care of the property. One of the worst things you can do if you are trying to stop repossession is to destroy the interior of the house.

Many people strip their house clean of valuable items in order to ensure that the lender receives as little of their personal belongings as necessary.

However, this will not stop repossession of your home. In fact, it can have the opposite effect as a property devoid of heating, carpets, kitchen appliances etc will be worth less when it is being sold.

Considering the proceeds of the sale of the property will be used to pay off the balance of the loan and any mortgage arrears that have accrued, you should do all you can to ensure that the lender achieves the highest price possible when they sell the property after repossession takes place.

Another important thing to do when trying to stop repossession of your home is to be honest with the lender. If you are completely broke then you should tell them.

It will cost the lender money to pursue you for your outstanding debts so they may not be so inclined to continue chasing you if you make them aware that there is nothing to chase.

This does not mean that you will successfully stop repossession by eliminating the debts you owe, however it can help to relieve the pressure of constantly being hounded for payments that you cannot make.

One important step in the process required to successfully stop repossession of your home is to check your credit file. Lenders will use this file as a tool to help determine whether you have enough money to pay them.

In fact, it is important to check your credit file regularly anyway to ensure that there are no unauthorised checks on your file from credit issuing companies.

If you have received a shortfall letter from a lender you should check your credit file to discover whether they have already performed a search.

Legal issues may arise from such an act that could weigh in your favour. It is, of course, necessary to consult with a repossession solicitor to determine whether this has any bearing in your particular case.

Every individual in the UK has a right to privacy and it is possible that an unauthorized credit search may breach this right.

Please consider the information above if you are hoping to stop repossession of your home.



Sell House Quick

Whenever I conduct a workshop or give a talk to a group of agents, I ask how many of them are in the business of selling insurance. Inevitably about 25% raise their hands. My response to them is, “If you’re in the business of selling insurance you’ll have a hard time succeeding because NO ONE WANTS TO BUY INSURANCE!”

No one wants to buy insurance. Not homeowner’s, auto, life, health or disability… They only want what the insurance provides. They only want the benefit. Believe me, if people could get the benefits they wanted in some other way, they would. So,… if you “sell insurance” success will be tough. On the other hand, if you’re in the business of helping people it’s a different story. Now, you might protest that the distinction is simply a matter of semantics, but there are fundamental differences between having a sales focus and having a helping focus.

This difference affects pretty much everything a person does along with how they do it. If they have a sales focus, their focus is on making the sale! Everything from the initial contact to the presentation to the close to the follow-up is done from a sales perspective. Marketing, contacting, presentation, and follow-up are from a product and/or company perspective. On the other hand, a person who is focused on helping rather than selling will understand that the service they provide (helping) is what matters and the insurance they offer is simply the means to achieve the solution they create.

Let me illustrate what I mean. Here’s how a sales-focused person contacts: “Mr. Jones, my name is Bob Smith and I am with the ABC Insurance Company. We have a full line of products to meet your needs. I’d like to set up a time to show you our products and explain how they can solve your problems.” The focus of the entire exchange is on selling their insurance products. In contrast, a person focused on helping, contacts this way: “Ms. Jones, my name is Sue Smith and I help people protect their assets/reduce employee turnover/leverage their financial security. Is that something of interest to you?” They understand that they are a professional offering help, rather than a salesperson selling products.

There are many other distinctions related to taking a professional, helping approach over a selling approach, and they have significant implications. Professionals help rather than sell. They have clients instead of customers/policyholders. They build relationships instead of conducting transactions. They offer solutions instead of sales. They attract clients instead of pursuing customers. People buy from them instead in being sold. They find cooperative opportunities instead of competitive obstacles. Think of the implications from these distinctions. We’ve always heard that people do business with people they like, and people like people who help. You’ve heard the term “trusted advisor”? This is what we’re talking about. It occurs when you shift from selling to helping. Imagine having clients who are eager to refer others to you.

When you adopt the attitude of a professional and take the focus off the products, guess who the focus falls on? You! You become the service that clients buy. You become valuable. You become a resource. You become an expert. Clients don’t look to insurance policies for answers, they look to you! One of the greatest challenges in arriving at this mindset is becoming clear as to what makes you unique so you can communicate it effectively to your prospects and clients. I often work with my clients on clarifying their purpose and identifying their unique strengths so that their marketing and leadership is effective. An interesting challenge we face is that we tend to downplay our strengths, especially if they come easily to us. We tend to take them for granted and we tend to assume that everyone has the same (or better) abilities. A very revealing exercise I often ask clients to do is to ask five people they know for five traits that make them excellent at what they do. (My suggestion is to ask people who aren’t family. Ask clients, friends, and associates.) You may be surprised at the results. I find that the responses fall into three categories. 1) You’ll hear things about you that you and everyone else already knew and will thereby get confirmation, 2) You’ll hear things that you already knew but didn’t think anyone else noticed, giving you new insights as to what people notice and value, and 3) You’ll hear things that you never knew about yourself; things that never occurred to you to be a trait that others would value. These traits and insights are the things that set you apart from all the others out there. These are the things that cause people to do business with you. These unique traits will help you be more effective as you contact new prospects, present your ideas, and generate referrals.

I find that when people aren’t clear about what sets them apart and aren’t clear about their purpose (Inotherwords, why they do what they do) they end up leading with their products and their company. They rely on the strength and credibility of others instead of leading with themselves. The goal of every professional should be to become credible in their own right. That doesn’t necessarily becoming the foremost expert in their field, but it does mean becoming excellent at what they do as a professional - helping others. It means finding new ways to help. It may even mean helping in ways other than with insurance. You can become a resource for information or a networking source of contacts within your community. You can offer advice in other areas of business or life (other professionals are more than happy to provide you with article and insights you can pass on).

The whole point of this is to stop selling insurance and start helping people. It’s been said that people don’t care how much you know until they know how much you care, and it’s true. The interesting consequence is that when you take your focus off of selling and place it on helping, you’ll attract more clients, generate more referrals, and sell more insurance. Life is good…



Passive Income

Many people wonder what the best way of acquiring commercial property in Canada is, building or renovating. Renovating will still give one a commercial property to rent out or sell but one is not able to choose the desired location. If building, one will choose their location but it will take longer before the building is completed and ready for use. Building renovations are possible and one will have to consider a few things when renovating. Building contractors determine the type of work that will be done. Toronto home renovations can be used when doing home modifications. They will provide invaluable advice on the type of additions and renovations one can consider. These include basement remodeling and renovation and bathroom renovations and remodeling.

Toronto home renovators work with owners to come up with a customized building. They provide some of the best building renovations in Ontario, Mississauga and other parts of Canada because they believe in attention to details. One has to know what kind of renovations they want. Some could include handicap modifications and the company will build some ramps to ease wheelchair movements. If one wants to renovate a building that will house business offices, they should consider the customer base being targeted. At the same time, the building should be updated. This will add value to the building. Air -conditioning in hot regions is necessary. Plumbing to accommodate the extra people should also be put in. Modern buildings are taking advantage of minimizing costs. It is now common to find buildings utilizing solar power to cut down on electricity. Plants are being planted in pots and this directs attention to the plants instead of the façade of an old building. Toronto renovations take care of such details so people will hire space in the old buildings.

Office space renovations should include more sockets to accommodate the various electronics used in an office. The open plan has become fashionable in many offices and renovations should consider those. A Toronto renovator could also use double glazed windows. This will keep a room warm during winter. Elevators that can carry more people can be used when renovating and old ones removed. When buying property with intention of renovating, one should also remember that contractors delay projects. Even companies dealing in Toronto home renovations might be delayed for a number of reasons. This should not deter one from considering a these companies to fix their Toronto Kitchens or other rooms in the house. They provide some of the best Toronto home improvements. Once the homes are renovated, they can be sold handsomely.

In any type of construction, one requires building permits. In renovation, one has to approach the proper authorities who will inspect the building once it is complete to make sure their specifications have been met. Renovating a commercial property is a serious undertaking that requires proper planning. However, one should not shy away from it since it will reap profits. One gets a customized home with additions and renovations that raise the value of the property.



Sell and Rent Back

As a real estate investor focusing almost exclusively on apartment buildings throughout the country, people often ask me what it takes to find motivated sellers. All buyers want to make intelligent investment decisions, and to do so investors must understand seller motivation-thus the question.

One of the most important principles for negotiating the purchase of a lifetime (over and over again) is to learn and understand seller motivation. They generally fall into one of four categories:



They need to solve a problem. (Management headaches, divorce, bankruptcy, death, illness, lawsuit, needs cash, dispute with partner)

Their circumstances are changing. (Retirement, moving, job transfer, increase in taxes)

They have other opportunities. (1031 tax-deferred exchange, business, stock)

They’re price motivated. (If they get their price, they’ll sell. If not, they won’t.)



If you buy an apartment building and hope to make a lot of money, you’ll need to convert current and/or future cash flow into value. Price is undoubtedly a major factor in your decision making process. If you negotiate with sellers who are price motivated, you’re less likely to get what you want and you’ll probably make a poor investment. It’s your job to figure out what’s driving the selling decision and then focus on solving whatever issue your counterpart is facing, but you don’t want to solve it by paying too much for the property. So how do you do it?

Assessing motivation is easy to do when you’re buying from homeowners. Most of them haven’t learned the same skills and strategies and they don’t know why or how to ask certain types of questions. For example, almost all investors ask the seller why they’re selling, and they should. If you ask Joe Homeowner that question, he’ll likely spill his guts and tell you that he’s moving out of town, going through a divorce, or is about to lose the home. He’ll openly give you all the information you need. It can be a bit more challenging when working with investors.

But that doesn’t mean the motivation is different, it just means the answers are not as clear. One of the biggest negotiating mistakes investors make is to assume they know what the other side wants. We’re all different. We all want different things for different reasons. Although a large percentage of sellers sell because of price, there are still plenty who are not price motivated. Even so, most apartment building owners will answer the “Why are you selling?” question with, “We’re doing an exchange.”

An IRS 1031 tax-deferred exchange falls under the “opportunity” category. Maybe they really do want to exchange out of one property into another because they can make more money. However, “We’re doing an exchange,” is usually just their way of telling you: “I’m not motivated so don’t try to steal my property.” They know what you’re doing and why you’re asking the question. This answer is especially popular with real estate agents-because they know negotiations will be difficult if you suspect you can buy the property for less. The point is there’s almost always something else behind the decision. Maybe they’re exchanging and maybe they’re not-it doesn’t necessarily mean that it’s the reason they’re selling the property.

The best way to get to the bottom of it is to ask a lot of well thought out, pre-planned questions. Think of assessing motivation as a fact-finding investigation. Have you ever asked the same question in a different way and received a completely different answer? We all have. It happens all the time. Do your homework and ask several good, pointed questions. Here are a few examples:



What do you like most about the property? What’s the one thing you would change if you could?

Why did you buy this property versus anything else on the market?

When was the last time you sold a property like this?

How did you arrive at the asking price?

How many other properties do you own? Why did you elect to sell this one?

What steps did you take to prepare the property for the market?



When new investors decide to buy apartment buildings, one of the first things I do is help them build a plan based on their objectives. For example, two questions I ask repeatedly are, “Why?” and “When?” Everyone wants to make money in real estate. Is that the goal? No! It’s not. The goal is the reason behind it. Why do you want to make money and when do you want it? What’s driving the decision?

For some it boils down to putting their kids through college. For others it’s all about setting aside a financial nest egg for retirement. Everyone has a reason and that’s what we’re trying to uncover when we ask sellers questions. We’re trying to get to the heart of the matter because they’re unlikely to tell us on their own. If you want to accelerate your net worth and buy properties that will make you richer, faster than you ever thought possible, master the art of assessing motivation.

Everyone has a reason. It’s up to you to find out what it is.



Quick House Sale

You’re putting your house up for sale and it can definitely use some updating and improvements, but how far do you go? Do you initiate a full scale renovation from top to bottom or limit your changes to some painting and de-cluttering?

An updated, newly renovated home definitely increases your home’s allure to prospective buyers, and you don’t want people walking away because your house requires more updates than they are prepared to deal with. You also don’t want to spend more money than you’ll ever recoup on your investment. Here are some tips that will help you decide which renovations are worth your time and money.

The figures below will give you an idea of the potential for payback for renovations when a house is sold:

Kitchen - 78%

Bathroom - 71%

Interior painting - 74%

Exterior painting - 63%

Main floor, family room addition - 55%

Flooring upgrades - 62%

Central air conditioning - 52%

Fireplace addition - 50%

New heating system - 50%

New windows - 48%

Finishing the basement - 49%

Landscaping - 35%

Energy efficient features - 33%

Dollar for dollar, your best return is usually spent in the kitchen or the bathroom. The value of a fresh, paint job in neutral colors should not be undervalued; many prospective buyers have turned away from homes simply because of their outdated or unflattering wall coloring.

A kitchen should be bright, clean, functional and free of clutter. According to a 2006 Royal LePage survey, kitchens with stainless steel appliances, granite countertops and brushed nickel finishes give you 44% better return on your investment. An alternative to replacing dingy, wooden cupboard doors may be a simple paint job, or having stained doors professionally cleaned. New handles and hinges can also make a world of difference. Any sign of water damage raises red flags and these should be repaired immediately.

The bathroom is the next most important room to consider when selling your home. Overall, spa-like bathrooms give you a 56% better return on your dollar. Not everyone is prepared to add that two person Jacuzzi tub, and unless it’s in really bad shape, usually a new paint job, an updated shower curtain and fresh towels is all your bathroom may need. Instead of replacing a tub, you may want to consider having it reglazed, and toilets are quite reasonable to replace, if necessary. Cabinets can be freshened up with new paint and handles and you may want to consider replacing an old damaged floor as well.

Flooring is expensive, and unless they are in really bad shape, do not need to be replaced. Solid floors; however, should be gleaming and carpets well cleaned. Any squeaky floors should also be repaired or replaced.

Entryways, lend to first impressions; they should be bright, maybe contain an eye catching accent or two, and have a roomy feel.

An outdoor deck or patio can add up to thousands of dollars in value on a home.

Does your home have curb appeal? Houses are bought and sold every day before the client even steps through the door. It’s that emotional buy that says, “I love that house, it’s just what I’m looking for”. Mentally, that buyer has closed the deal before they even walk through the door. Curb appeal plays a big role in downplaying other deficiencies in the home.

This may not mean replacing the siding, but ensure the gardens are neat, the fences are painted and the overall appearance reflects a well maintained home.

The following areas provide little or no payback value upon sale:

Pools and spas

A renovation gone bad or not completed

Gaudy or overdone renovations in small homes

Make a list of general repairs that have to be completed and a list of the renovations that would contribute to the sale as well as give you a good return for your money. Get three quotes on the required work, or if you’re doing the work yourself, make a budget of the cost of materials. Weigh this against the selling price of your home and make any necessary adjustments.



Rent Back