Any successful real estate agent will tell you how important it is to be advertising your real estate business. However, how can you determine your budget for real estate advertising? Your bottom line will be affected negatively if you will be spending on the wrong kind of advertising as well as be spending too much for it. On the other hand, if you will be spending too little, you will most likely not be able to get the kind of results that you are after. In order for you to determine the perfect budget for your real estate advertising efforts, below are some crucial factors to take in.
History of your sales
Your advertising budget must be parallel with your sales goals. For you to determine this, you must keep an objective mind and assess your sales history. Check the amount of money that you have made on homes that have closed. Take note of the total number of completed transactions, the amount of commission you have received, and the final prices of the homes that you have sold. If the last quarter made you earn more that you think you are less likely to recreate this coming quarter, take them as factors in planning your advertising budget.
The current real estate market
If your locale is currently suffering from the ill effects of the economy, it is a bad idea to increase your real estate advertising budget. However, if there are a number of homes that are ready for sale and a number of potential buyers for them, it would be fine to invest more of your budget on your real estate advertising efforts.
Average ad budget in your area
One location differs from another when it comes to the advertising budget that they spend on. In setting your budget, you have to assess the average amount that your city or town is spending in terms of real estate advertising. How much do your competitors spend for their advertising? What aspects of real estate advertising are they spending on? Assess what knowledge you have of the real estate market and set your ad budget from there.
Industry average ad budget
Get some insights as well on the average budget being spent on real estate advertising on a national level. If most real estate companies on a national scale have a minimum spending value of a thousand dollars per year on their advertising efforts, that number is a good starting point on determining your ad budget. Get industry averages and compare them with your current income so that you can assess what is the best budget range that you are most comfortable with.
This is the most crucial factor in determining your real estate advertising budget and where things must go from there. If you have high goals, investing your money on the right marketing and advertising tools to attract as many buyers, sellers, and other real estate agents in the market as you can is your best move. You have to understand that to make some money, you have to invest some money. Investing in your goals combined with hard work is the sure way to earn more in return.
Home building is an area in real estate that promises a steady flow of income if it receives inquiries from potential clients on a regular basis that of course leads to orders and in the end, profit returns. However, with how competitive the home building industry has become, most home builders fall short in getting new clients every single day. The modern-day clients always strive for knowledge before they make deals in various aspects of their lives. If you are a home builder and you are reading this, you have to find and use the most effective ways to better market yourself in this industry and increase your profit potential.
Make yourself stand out and find some areas in home building that you can specialize in
For a home builder to be on demand, they must make themselves more valuable and bring something new or special to the table that not a lot of home builders can do. For example, as a home builder, you can join a group of luxury custom home builders to get high profit returns and at the same time get new clients. However, this can be challenging for most home builders and if you do feel the same, here are some other things you can do to make yourself stand out and specialize on certain areas of home building.
– Specialize in creating green homes and point out that this knowledge that you have helps making homes more comfortable to live in and less energy-consuming.
– Utilize traditional building practices like India’s Vaastu. Combine the principles from this traditional practice with modern methods to come up with unique home building projects.
– Make your home building projects more valuable by shedding some advice on using specialized ventilation and lighting systems.
– Offer landscaping services and harmonize the interiors and exteriors of your home.
– Create your own identity in the home building market by offering custom design services.
As a matter of fact, if you will be offering your clients with not just custom luxury home options but also special interiors, lighting, landscaping, and green building features, you will be earning more money in the long run and be growing your career as a home builder. If you happen to be hired by one client, most likely, this client of yours will also be referring someone they know to hire you.
Take your home building expertise online
As mentioned above, modern-day buyers do what they can to gather as much useful information about something before they buy them. The internet is one useful resource that they use for this purpose. Being the home builder that you are, you have to establish an online presence for potential clients to find you online. Creating your own website is a must and the best platform for all your online marketing efforts. Be sure to keep it search engine optimized with high definition image as well as highly informative content. You can even include uploading relevant videos online. Make sure to also consider doing the following things.
– Make use of a property specific mobile responsive website to get more leads.
– List and register your home building agency and properties on local online directories and maps.
– Post and write informative blog posts and articles.
– Take advantage of social media platforms and create an impression that you are in authority of the industry that you are part of and be sure to give freebies for recommendations and even hold contests online.
Smart homes have become the current trend in the real estate market. If you look at home living magazines and articles online and offline, you will see that most if not all of them feature these houses. Usually, a place of residence can be considered a smart home if it comes with certain devices and appliances intended for this so-called smart home. For most home owners who want to make the most of their smart homes, they must be sure to utilize only the most useful and relevant technological essentials inside. Keeping this in mind, here you can find some useful home solutions and features that you can add to your smart home.
1. Security systems and alarms: In the past decades, most home owners wish to live in a home that they can monitor remotely from its appliances, fire/smoke, entry ways, to security systems and many more. This capability of homes has become a reality with smart homes. If you look closely at present-day security systems, they have become effective, efficient, automated, and digital providing your home with another layer of protection not just on a property-level but also on your own mindset. There are security system providers that make sure to add some closed-circuit monitors in your home allowing you as the home owner to know what is happening inside and outside of your properties even when you are not around. Modern-day security systems even offer parents some peace of mind to monitor the babysitters put in charge of their small ones and their homes.
2. Heating, ventilation, and air conditioning systems: Technology has made the lives of most home owners of today more comfortable. Comfort can be guaranteed to come in the form of current HVAC systems. HVAC systems of today have become more effective and efficient while maintaining a smaller look than those used in the past. For a long time, getting some air conditioning in the home only implies getting either the individual window units or the central system units. But now, another option of HVAC system includes the ductless ones. Ductless HVACs are not just effective and efficient but also very quiet when turned on. They allow cooling of only certain areas of the home where you live without really having to cool down the entire place like central air conditioning systems in the past.
3. Energy and lights: Even if you live in smart homes, it is wise that you still monitor your energy expenditure. It is even recommended to have professionals provide you with some suggestions to increase the effectiveness and efficiency of your home while saving money. A lot of utility companies take charge in remotely monitoring your energy consumptions enabling better saving of manpower and time and avoiding inconvenience when there are power outages.
4. Robotics: A lot of areas of your home can take advantage of the power of robotics. Take, for instance, robotics that come in the form of vacuums. There are also other service-related systems that make use of robotics technology such as cooking and butler systems and many more.
Aside from these four, there are still other smart home options and appliances that you can choose from. It really all depends on your preferences and what makes more sense to you. Pro tip: wait and see and only go with high quality options to match your particular needs and usage for them.
You have to be prepared not just mentally and psychologically to own your very own home but more so, financially. Before you can buy a house, you have to set aside a certain amount to purchase the one that you intend to buy. You should get your finances in order and set aside the necessary down payment that you must be making to purchase the house of your dreams. Because most people tend to get excited with the idea of owning a house, they sometimes miss the importance of planning and preparing their finances accordingly. A wise home owner must not just think about their current payments such as the monthly payments associated with their utility bills, insurance, taxes, and mortgages but also the payments that they will be making in the future. Being wise means saving up or securing some useful reserves that you can later on utilize when unpredictable situations come into your life. If you want to be a wise home owner, you must have some idea what useful reserves you must be making. When you still do not know what these are, here are some of them.
1. Reserves for income interruption: Despite working as a regular employee and despite having the necessary skills and knowledge to carry out your job, there will be times that your source of income becomes temporarily interrupted. From the moment you have decided to make reserves for possible income interruptions, setting aside some of your income from the 6 months or onwards will be enough or even more enough to cover for your income interruptions.
2. Reserves for maintenance and repairs: Always set aside some money for possible maintenance and repair costs for your assets such as those found in your home as well as the vehicles that you use. Start securing these reserves with more or less equivalent to the income you make in one month and if possible, per week, add at least 2% to 3% of your income.
3. Overall reserves or those for contingencies: This is one reserve that you must be sure to fund well. It deals with taking care of the payments that you might be making for unpredictable needs, contingencies, and more. When you have completed such reserves, you do not have to add to them regularly. However, if you have used a portion of this fund or all of it, be sure to have it replaced as soon as you can. Six to nine months’ worth of your income is recommended for this reserve.
4. Reserves for major maintenance and repair concerns: Are your prepared to deal with the financial implications of something you own and need that must be repaired at the least convenient times? For concerns such as this, it is best that you set aside some funds that will be equivalent to at least six months of your income for any unfortunate circumstances that might come your way.
5. Reserves for upgrades and renovations: Despite owning your own home, there will be times that you need something more from it such as having some renovations and upgrades to make it a more comfortable place to live in for the entire family. Always think about how you will be paying for these upgrades whether they may be caused by a need (e.g., having a new member in the family) or a want (e.g., making your kitchen look more modern). Set aside some money for this purpose, and only start such projects when you have prepared the right amount for them.
Luxury apartments are becoming more popular as time goes by. There are certain elements to them that really set them apart from most regular apartments. Luxury apartment developers seem to always find ways to make these living spaces more luxurious from adding in-house spas, home automation, Jacuzzis, concierge services to luxurious interiors, and many more. They even come with state-of-the-art entertainment areas, gardens turned in to natural ecosystems, and kitchens equipped with high-end appliances and gadgets.
Despite all of the abovementioned features being high-end and the most recent trends, luxury consumers still want something more. No wonder why developers are always looking for ways to meet such demands. Apart from those features just mentioned above, if you are wondering what sets luxury apartments apart from the regular ones, here are some of them.
1. Home automation and technology
Luxury home owners always want their apartments to come with the most expensive and up-to-date technology the market has to offer. And developers always find ways to meet such demands. Usually, luxury spaces are considered as smart homes with the capability of the home owner to control all parts of their home with just one device such as their smartphone. With a click of a button, they can control their alarm systems, their apartment’s climate, their lighting systems, as well as their door and window locks. Technology has enhanced the level of security among luxurious apartments where any threats on security made by perpetrators and burglars immediately alert the home owners as well as the police officers about the situation in real time.
2. Luxurious interiors
Luxurious apartments even become more luxurious with modern interior design and decor. Even the simplest of rooms are transformed into luxurious spaces by furnishing them with luxurious decorating materials, elegant home furniture, as well as contemporary pieces of art. Luxurious interiors when combined with fresh home furnishing ideas and creative artworks always result in exclusive, rich, and unique looking spaces. Lobbies of these apartments are even furnished with expensive items and braised leather for them to really look that expensive, attractive, and bright.
Entertainment should not be left out if you talk about luxurious interiors. Luxury living is better achieved when all forms of entertainment can be reached by the home owner while inside their luxurious apartments. Aside from the latest entertainment technology, home owners make their living spaces more luxurious by adding luxurious amenities such as lavish sports bars, indoor basketball courts, and indoor pools. Each room is installed with smart televisions and theater and gaming rooms serve as a primary source of daily entertainment among both home owners and guests.
3. Design efficiency
No luxury apartment is complete without achieving some efficiency in its layout and design. In terms of design, landscape projects must possess the qualities of being low maintenance as well as being sustainable. Better transition of indoor living to outdoor living is made possible by choosing ceiling to floor doors that can slide easily to the wall and will immediately open to the backyard. Using masonry blocks for the construction walls help in decreasing the cooling and heating costs. Better insulation must be kept in mind in terms of the design of the roof. Luxurious apartments also comprise the use of natural stones as well as hardwood floors. Adding these sorts of materials give a more organic and natural appeal to certain areas of the apartment such as kitchens, spacious living rooms, spa bathrooms, and so on.