Another year have passed with different rise & downfalls in the real estate market. At the end of 2014, can we expect new possibilities in 2015 for the U.S. real estate market?
So, based on few observations we can determine some tips & guidance for real estate professionals who will be interested to invest their time & resources in real estate sector.
Tips and Hints for new real estate agents :
A country's economic growth majorly influence the vast & diverse real estate market. Like banking sector mainly similar to interest rates, the real estate market is also fluctuate frequently. A strong system of real estate market can support a country to flourish on a great level. To start as a new real estate expert, you should consider these expert forecasts -
- Total value of non-residential properties will be rising at a moderate rate. This is a major change that modest pace & strong operations can cause rising of interest rates. The non residential real estate market can be fruitful for high earning & positive for construction works
- The residential real estate market will continue to boom for another two year at least. This will continue until interest rates goes high again. The prices of residential properties are might get higher by 4 to 4.5% according to a government agency.
Tips and hints for existing real estate agents:
Real estate agents are commonly licensed people. These agents normal work under a broker as per their guidelines. A Real estate agent takes care of the relationship between a salesperson and a buyer.
Here goes few tips for the existing real estate agents who want to advance in career :-
1. Make influence & contacts - There is a network strategy called SOI (Sphere of influence), which is a major tool for developing new contacts. From those new /old contacts, an agent can generate real estate leads. These contacts may include known people like family, friends, colleagues, their family, & many more. A perfect real estate agent should map these contacts & keep a listing through various documents.
2. Maintain your image – As an agent it is important to maintain your professional image properly. Below given essential points you should be take care of as an real estate agent:
a. Your overall appearance
b. Positive body language
c. Good meeting styles
d. Good communication skills
3. Be technologically sound - To create , organize & maintain the real estate business, a real estate agent must use updated technology & tools. Internet, social media boosts the real estate business much further than the last few years. So using social media platforms & internet , a real estate agent can grow up in below mentioned aspects :
1. Maintaining potential clients & build new contacts
2. Connecting people through Professional Web pages
3. Lear new Marketing Techniques from experts
As per the report of National Association of REALTORS®
- Apartment market: The vacancy rates of rental market will likely stay below 5 percent in the new year 2015. The demand of rental market will be higher. Apartment rents are assumed to be increased at 4.1 percent in 2015.
- Office market: The vacancy rates of office properties will be down to 15.6% from 15.7% in 2015. The amount of rent might get increased by 3.3%.
- Industrial market: The vacancy rates of Industrial properties will be increased to 8.4 % in 2015. Annual rents will rise 2.9% next year.
- Retail market: The vacancy rates of retail market properties will be down to 9.5% in next year. Average retail rents will rise 2.5% next year.