Real property or real estate in easy terms would mean any land, building or house. It means that it is that type of property which is tangible in nature and is fixed or immovable. The people who deal in real estate or real properties are known by different names, viz., property, developers, property builders, property dealers, etc. These are professional people who have a good amount of experience and expertise in the real estate field. In a country like India, a lot of many businessmen are involved in real estate. Most of them have gained their knowledge through their experience. The following are some of the important requisites of being a good real estate developer:
• Having the thorough knowledge of properties is immensely important. One should have the jargon of all the terms of real estate. This line of business doesnt have too much of variation, but still it is very complex.
• Having the good amount of experience helps a lot in dealing with various types of properties and different types of clients.
• Having the good amount of financial resources is always a must; a developer cannot go further with his work if he doesnt have the required amount of money. All sorts of sources of funds are needed, ranging from banks to shareholders fund to loans from other sources.
• Technical education is a major add-on; it helps a person know the minute details of the real estate business. A person becomes very well versed in technical aspects. Real estate management, tax laws of real estate, Calgary conveyancing in real estate, other property laws, etc.
Ultimately, a good developer should know how to negotiate and settle the best price possible. And for that to happen, the requisites as mentioned above are a must.
Factors on which pricing depend on:
The pricing of the plot, project or the apartment depends on various factors. The most important ones can be summed up below:
• Demand and supply is the most important determinant of the price of the property. If demand is higher than the supply then obviously the prices shoot up if the supply is greater than demand then the opposite thing happens.
• The nearby location and amenities that the developer is going to provide is the second most important factor. The better the location and amenities, the higher is the price of the property
• Current market trends hold the third place, it means that people might have plenty of money, but still they do not invest in properties because the overall real estate market is weak. This again creates a situation of excess supply which increases the price. This great site will provide you advice on the contract as well as guide you through the conveyance process when you buy a property.
Overall the real estate business is very good; it just needs a little bit of touch ups and more of professionalism.