Three ThingsYou Need toKnow In Real

Estate

Raaanan Katz

@RaananKatz2

RaananKatzMiami.com

The real estate business is one of time and

experience. The longer you’re out on the

market selling property, buying property,

negotiating, building relationships with your

colleagues and clients, the better you’ll get.

But it takes time.

Investopedia.com has a list of things that

every real estate professional should know. I

definitely agree with a lot of they have to say.

Here's a list of three essential tips and my

thoughts on them.

KNOW YOURMARKET

You absolutely must do your homework.

What are the price trends in your

area?

Are they accelerating more quickly in

one area then another?

Are they just not moving at all?

Is there a wave of foreign buyers

taking an interest in the area?

The more you know about

prices in a particular

neighborhood, the more

you’ll know about the

demand there, and

knowing about demand

will help you determine

how to price your own

listings.

If you’re going to sell a stereo on Ebay,

you’ll want to see what other people are

charging for that same stereo, or one

similar it.

The same goes for neighborhoods. Make

sure you’re combing through your MLS.

KNOWWHAT'S

GOING ON

Where has a neighborhood been?

Where does it seem to be going?

Not just in numbers, but also trends,

events, developments.

Are you seeing a number of new forms

of infrastructure pop-up (e.g. roads,

schools, etc.)?

For starters, you can drive around the

neighborhood. But I’d also recommend

checking in with town hall to get a figure

on what sort of developments are slated.

KNOW YOURTAX

ALTERNATIVES

Towns with lower property taxes will

almost always be more in demand. Use

this information to your advantage. Speak

to the local tax assessor to learn how

much the municipality charges for $100

of house.

You’ll also be able to

learn the last time a

given area was audited

by the local

government and figure

out when the next

reassessment is set to

take place.

Are a lot of people moving to the

neighborhood?

Are school’s reaching their capacities?

Do the roads look like they’re in

terrible shape?

If so, taxes may go up.

Three ThingsYou Need toKnow In Real

Estate

Raaanan Katz

@RaananKatz2

RaananKatzMiami.com