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What does a successful real estate agent do?

successful real estate agent

Well, the answer to this question is quite simple. Now you might be wondering if the answer is that simple why everyone can’t be a successful real estate agent. The first thing you have to do is treat the company in which you are working as a small business this is how you will be able to achieve longevity and success in the long run. The idea might be too overwhelming but in doing this it generates more consistent and dependable leads consistently.

Be available to your client at all times

Successful real estate is available at all times. Successful real estate agents make sure that they provide their clients the utmost comfortability. Whenever the client needs help or some sort of advice a successful real estate agent is always there to facilitate the client in every possible way. There should not be any inconvenience caused to the client by the real estate agent as it is a negative effect on the image of the business and the agent.

Stability and Steadiness

A successful real estate agent has the ability to make decisions calmly and it gives a client a sense of security and it makes the individual supported. The ability of a successful real estate to make distressed clients feel relaxed by the demeanor and the attitude is what differentiates a real estate agent and a successful one. The calm demeanor also compels the clients to make complicated decisions more quickly because a successful real estate agent will give the best advice to the client.

Be Honest as a successful real estate agent 

As they say, honesty is the best policy. Well to be a successful real estate agent honesty has to be the priority. As the relationship between client and real estate agent is based on the trust factor, maintaining that level of relationship honesty should always remain intact. The client will only be able to trust a real estate agent when the agent is being completely honest. To be successful in the field of real estate you cannot run away from being honest.

Develop a Business Plan

A real estate business plan allows you to stay with the current market trends and it also gives you the edge of being ahead of your competitors. Establishing a business plan also helps the real estate agent in tracking results over time, test lead generation strategies, and try different marketing approaches for brand advertising.

  • What a good real estate business plan includes:
    • Where you are today
    • Where you want to be
    • How you’ll get there
    • How to measure your performance
    • When to and where to improve the course

 

  • How to write a business plan is what you need to focus on and that includes:
    • Write an executive summary
    • Define your mission statement
    • Create team management summary
    • Know your target client
      • Who specifically is your target client
      • What is your target client’s story
    • Outline SMART (Specific, measurable, attainable, realistic, and timely) business goals
    • Breakeven Analysis
    • Understand your market
    • Segment your market
    • Plan for market growth
    • Track market trends
    • Develop SWOT analysis
    • Recognize your competition
    • Create a marketing strategy
    • List ways to generate leads
    • Project yearly sales forecast
    • Outline your personal expenses
    • Measure client experience
    • Use a CRM tool
    • Calculate your business plan performance

Don’t only focus on selling

As a successful real estate agent, you should not focus on selling the property. Try to acquire some properties for the purpose to invest also so that the portfolio of the business is also expanded in the meantime. Working on listings also brings buyers automatically. Working on investments and buying properties would also be an added advantage that additional capital could be raised for the business and you don’t have to heavily rely on loans for capital.

Conclusion for successful real estate agent

A successful real estate agent should have all the traits that are mentioned above. This makes the industry grow and the business because the value for the business is not the money but the clients. The network that is established should also be necessary for real estate.

 

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13 Tips and Tricks for Better Investment in Multifamily Real Estate.

Multifamily Tips and Tricks

Begin Your Multifamily Property Investment Journey with a Smaller Unit.

Are you looking for a fresh property management strategy to seriously boost your cash flow if so investing in multifamily property might be the exact meet for you because you will see so many reasons to invest in multifamily real estate rather than single-family and save yourself from lots of headaches? As its title suggests a multifamily property contains above one housing unit but not above four for example duplexes, townhomes, and four-unit apartment buildings. Single-family homes may appear to be safer and more affordable apartments but multifamily homes generate higher monthly rental income with lower total maintenance costs making it a profitable investment for you.

 

Come Up with a Solid Property Management Plan.

Considering opening a property management company in Karachi or starting a profession in it. If yes, ensure that you have the skills because it is very challenging. Property dealers in Karachi are totally expected to have an extensive selection of ideas about what their long-term objectives are and how they will develop there. The reason why you need to write a solid management plan is to guide yourself to never losing track. Formalize all your thoughts and catch them into an achievable and structured management plan by concentrating and covering every important thing that you need to include.

 

Opt for Living in a Unit for benefits in Multifamily.

Landlord-occupied investments in opportunities become available for investors who wish to live in a unit in a multifamily property, with a maximum of four units. Investors who do not plan to occupy their investment property are frequently required to make a 20% down compensation, but terms become further advantageous for owner-occupied situations.

 

Keep a Large Cash Reserve for Repairs.

The first thing any investor should do when presented with an investment opportunity is to their 50% this easy calculation will roughly estimate a property’s potential profit and help an investor decide whether or not a deal is worth pursuing here is what that means as an investor you will receive rent payments from your tenants but you must continuously expect to spend 50% of that income or maintenance and repairs and property renovations, the 50% of what is left will be your predictable net operating income.

 

Invest in Safe Buildings and Inspect the Property for Code Compliance.

A building inspection is an inspection performed by a building inspector who is qualifying to make a judgment about whether a building meets building code requirements. These inspections are done to assure compliance to check everything in the building is safe and no damage has occurred due to the work carried out. So before investing in any building just order a building inspection and report,. Which delivers the information looked for to make a good decision on the property that whether to invest or not.

 

Choose the Right Neighborhood for Multifamily.

To make it clear physically with the neighborhoods is a very great impression where you are willing to do a property investment. It will assist you to judge numerous things about the property and the people previously living in those facilities. It will assist you at the time of examination and investigation.

 

Renovate Units and Try Maximizing the Space for Multifamily.

The key to generating an excessive amount of money in multifamily real estate is to save the property in an awesome situation. If anything is wrecked, cracked, or damaged you must repair it. Immediately and upgrade the building from time to time like it is one of the utmost methods to keep tenants for a lengthy time.

 

Purchase a 2-4 Unit Property Under Single-Family Property Terms.

Pay consideration to the place which is one of the utmost essential factors prospective tenants will consider. Once you find a multifamily property in a great location you have to think through the number of units in the property furthermore to the number of rooms in each unit. Investors should focus on duplex, triplex, or four-plex multifamily properties because these types typically offer the most return with the least amount of risk and are generally more affordable.

 

 

Think about the Property’s Resale Value Beforehand.

Earlier you buy a home, you must ensure to think and check out its resale value. Unless you plan to live in the house forever and never sell it again,. It is essential to have a firm thought of a property’s resale perspective before doing a proposal to the seller. After all, you are going to invest a big amount in it than you will ever do. So it is better to estimate the future worth of the house by its condition before you buy it.

 

Valuate a Potential Investment Property and Determine Cash Flow.

Once you have received all the required material, pay very close consideration to your monthly and yearly cash flow.  Along with your cash-on-cash return. These facts can assist you to see the property’s worth in factor and define whether or not. It will actually create a worthy investment if you do not want to face any problems in the future.

 

Determine the Rental Market in a Potential Location.

Thinking of the right amount for the rent for your property can frequently be a little complicated. In case if you will charge very little rent then you will waste your money and time. If you charge rent too much then it will affect your business reputation,. That is why choosing an appropriate amount of rent is advantageous is very important. While choosing the appropriate rental rate, you must pay consideration to your opposition. And do efforts on concentrating on multifamily rentals in a zone that is related to yours.

 

Prepare Cash Flow Reports and Other Financials Before Applying for Financing.

In general, maximum fresh investors are frightened of multifamily investment chances for one humble purpose: the value of admission. The amounts are comparatively humble; the further units, the additional investment it will take. Or maybe there are some things to make them less scared like securing a loan for a multifamily property. If you are wondering why are banks extra eager to offer loans to investors of multifamily properties than single-family homes? So the reason is multifamily real estate overlaps with an enlarged tendency to monthly cash flow. Straight with a few opportunities, it is totally imaginable for multifamily properties to continue “in the black”. On the other hand, single-family homes do not share similar luxuries.

 

Meet the Tenants Multifamily Real Estate.

If there are good tenants so keep in mind that there are bad tenants also. Every property owner expects a tenant who is very responsible financially. A great owner will obviously be supposed to go along with approaching tenants who are willing to observe your investment. It provides both parties with the chance to understand each other and gives them a chance to make a better relationship. Instead of hearing the whole thing through the agent. If the tenant senses that the property owner actually cares. At that point, they are to be expected to treat your belongings with the respect it is worthy. Matters can generally be fixed further simply when the parties know each other better. It’s also better to identify in person who is renting your property.

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How to buy a house with the help of an Estate Agency in Karachi?

. Estate Agency in Karachi

The economical hub of Pakistan, Karachi is also known as the city of lights is not just the city of lights but also a city with lots and lots of people. It is not an overstatement that, the population of Karachi is increasing exponentially. The price for a house for sale in Karachi is skyrocketing and buying a property in Karachi seems like a distant dream. However, if you know how to take help from a trusted real estate agency then your dream can be a reality. In this guide, we are going to highlight the key points everyone should remember when buying or even selling property in Karachi with the help of an Estate Agency.

 

With the help of the Estate Agency Buy House in Karachi within your budget.

First and foremost, it is best to look for properties that are within your budget. It might sound obvious but in Karachi most of the time. When the property seems affordable and prices considerably low, there is a bright chance of fraud in these properties. Due to the heavy increase in the demand as well as prices of property in Karachi, the rate of corruption has also increased. It is essential that you do your research about the property, the documents, and the locality. Therefore, it is always a good idea to buy a house within your budget and don’t cut corners in the need to save few bucks.

 

Get the services of a real estate agency in Karachi.

It is not always necessary to hire a real estate agent to help you buy a house. But in a city like Karachi, where property dealings have become considerably difficult. It is advisable to have property experts by your side. However, we don’t recommend you trust your agent blindly. First, you should do some research on your own, their numerous sites, and online platforms. Where you can get an idea of the price of the property in a particular area or region. After getting an idea about the prices and demands. You can hire a trusted and reliable estate agent who can guide you through the process and provide expertise.

 

While looking for a reliable real estate agent. There is one thing that you should always keep in mind the commission rates. These can hurt you like an arrow through the chest. Most of the agents take 1% commission but some of the agents demand an increase in this rate depending on the property and the effort they had to go through. In most cases, the payment of the commission is due when the property is transferred to your name. But, it is always better to sit and discuss all these things. Formally, with your agent to save yourself from any damages or disputes.

 

The real estate agent deals with any issues and facilitates.

When you have found the right real estate agency in Karachi, now you can relax and let them do the hard and technical work for you. Being a real estate agent in Karachi is a tough job because of the cutthroat competition in the market. This competition leads to better services and more facilitation for the clients. It is the responsibility of agents to take care of the property issues as well as the documentation. The real estate agent takes care of the formalities of the contract and is responsible if any dispute occurs between the two parties.

 

Signing a lease agreement to buy a house.

Once all the documents have gathered by the agent now is the time to sign the lease agreement. It is highly advised that both the buyer and the seller should formally discuss the amount of the initial deposit (Bayana) and the terms related to the initial deposit. The amount of the Bayana varies depending on the agreement of buyer and seller. Usually, this amount is 25% of the selling price of the property.

The agent is responsible to get both the parties on one page and get them to sign the stamp paper. In most cases, the dispute occurs when the buyer refuses to buy the property even after giving the initial deposit or the seller refuses to sell the property after taking the Bayana (initial deposit) In either case, the estate agent will handle the dispute and resolve the issues. At the time of signing the lease agreement, the estate agent should be physically present in the meeting.

 

Best places house for sale in Karachi

Stay away from frauds and any other issues, you should always go to places that are credible and legitimate. Homes are available for selling like DHA Defence, Bahria Town, Gulshan-e-Iqbal Town, Gulistan-e-Jauhar, Malir, North Karachi, and so on.

Furthermore, these areas are less shady and more reliable than other areas where prices are low but chances of fraud are high. You can find your desired home in one of these locations. Buying or selling on your own will take a long time but a real state agent makes it easier.

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Becoming a Successful Real Estate Agent in Karachi

Real Estate Agents in Karachi

It is a fact that not all real estate agents in Karachi make it to the top of the mountain and many of them start with enthusiasm but give up midway especially in the case of Karachi. Karachi is one of the biggest cities in the world and finding the right property in Karachi is a daunting task. The ratio is 20 to 80. Only the 20 percent counts as successful ones and the rest are labeled as not good enough. If you want to be different and the one who stands apart from the crowd of average agents then you need to follow the following guidelines.

 

Acquire Enough Knowledge.

One of the most important rules and the most obvious one is to get the knowledge first. Whether you want to be an entrepreneur, real estate agents in Karachi, broker, or any professional. First, you need to get the basic knowledge about that particular department. Without knowledge, you will be directionless and quite frankly on the road to failure. Your failure is destined and it’s just a matter of time. But with an ample amount of effective knowledge, you would know what they do are and what aren’t. When you step foot in the field of real estate agent you need to get as much knowledge about this profession as you possibly can. The more knowledge you have the brighter your chances to get where you want to be.

 

Education on the Top

The second most important piece of advice is to keep on educating yourself because this job keeps changing as the consumer changes over time. Agents need to understand the current needs and demands of the customers and provide the best solutions possible. In order to benefit from customers’ needs, you need to be always put in your A-game and to stay in the game you need to keep on learning and educating yourself. Knowledge is useless if not updated. The difference between successful agents and unsuccessful ones is that unsuccessful are the ones who think they know enough and the winners are those who keep on learning and keep their education continuous.

 

Tenacious Personality

The crucial quality that is common in every successful real estate agent in Karachi is that they all are tenacious. In this field timing is very important showing carelessness or being lazy can result in heavy losses or losing a prospering opportunity. It is wise to be active and ready to avail of any opportunity or to face any obstacle. To be good at being a real estate agent, you should take these qualities like your character traits and use them as much as effectively as possible.

 

Communication and Persuasion

Being in the real estate business one is expected to communicate with a lot of people. Not only should you communicate properly but also how to persuade someone to accept your offer. Most of the time agents have to convince clients of their offers. The more convincing you can do the more earnings you will get. This is the reason why all of the successful real estate agents are good communicators and possess a persuasive personality.

 

Technological Knowledge is Crucial

In a world driven by technology, any professional who is not friends with technological knowledge is bound to leave behind. Real estate agents in Karachi are no different. You need to have the basic know-how of how technology works. How you can use a particular set of applications and tools to add efficiency to your tasks will make you stand apart.

 

You Work Hard At a Real Estate Agency

If it was easy every other guy or girl would be a real estate agent. This is not easy and that is why few make it to the top. Only those who are willing to work hard, who are willing to make sacrifices, and who have this thirst for success are the ones who survive. Work hard until you make it and then work harder to stay on the top, period.

 

Look for Details

It is not easy to win the trust of the clients and sell their properties easily, unless and until the real estate agent is talented enough to pay attention to each and every detail whether you are just starting or have years of experience being fully concerned with is one of the strategies of a successful agent. Great agents identify even the delicate alterations sellers can make to pick up the sales’ chance of their property. The best real estate agents stay updated and well-skilled over current training at real estate academies. Furthermore, these agents are much planned and return client calls punctually and make every appointment on time.

 

Honesty and Integrity For Clients

Honesty is the best policy real agents should be honest to their clients because it means you trust your services and in return clients will trust you too. Your attitude puts an effect and wins their trust and they will become your loyal clients. To become a successful real estate agent, it’s very important to know exactly what the clients look for, from properties to their prices.

 

Connections and Representation

To be a successful real estate agent, you should have a list of soon-to-be buyers lists. There are multiple parties tangled in these dealings so you must also have connections with buyers in case they are willing to work with you, to sell the property earlier.

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Emaar Projects In Karachi, Pakistan Where You Can Book A House Comfortably.

Emaar Pakistan

There’s an inspirational new way of life in Emaar Karachi, which is set to become Pakistan’s most desirable lifestyle. 

You can discover luxury living on a new level with Crescent Bay, a masterpiece that delivers life’s quality on a par with the very best. 

Emaar Karachi is designed for people that have grown to increase in value the finer things in life; Crescent Bay will bring a vibrant community atmosphere with a safe and wholesome ambiance. 

Arranged along three bays, Crescent Bay associates breathtaking natural beauty with a blend of traditional adapting and contemporary urban chic. In Karachi, the Crescent Bay brings a new benchmark for Karachi’s elite to live a new lifestyle. It is sure to convert the most desirable and talked place in Karachi. Shouldn’t you consider your life moving up in the world?

Obviously yes! 

Read on to discover the home features of Emaar Karachi, investments, and other relevant information. 

 

1. Emaar Karachi Homes Features

 

Emaar Pakistan Home Features

Emaar’s Pakistan innovative offering of self-contained, amenities-rich communities has created lifestyle options that have been the first choice for many residents worldwide.

Here are the basic features of Emaar housing:

 

Live

The lifestyle you have always wanted!

Crescent Bay covers a fabulous location in the DHA (Phase-VIII) to Karachi’s southwest. With a beautiful 2 kilometers seafront along the Arabian Sea’s shores, the community will include parks and mosques, with over 4000 luxury residential apartments and penthouses with a range of prices, styles, and finishes to suit everyone.

 

Work

In a community to inspire living!

Imagine life without driving through the rush hour traffic every time. Imagine your business within walking distance of home over the Arabian Sea. Crescent Bay’s heart is a commercial district where you will find an ideal business environment, beautiful surroundings, and no congestion or stresses associated with work in the city.

 

Shop

Much more to discover in your life!

A new edge is about to begin Property business in Pakistan! Emaar Karachi Crescent Bay aims at new standards in people’s lifestyle, how they think, how they interact or value things, and how they see themselves. Whether you choose to stroll down the walkway, shop at one of the myriads of retail outlets, take in the idyllic sea vision, lie in the sun on one of the high-class beaches, diminish in one of the parks or meet friends in an outdoor cafe, only.

 

Play

Where you can enjoy life fully!

Crescent Bay offers more than merely a peaceful and luxurious way of life. With the Arabian sea and other perks, you will relish an incredible choice of innovative activities, including state-of-the-art health clubs fitted out with recent technology and a full complement of modern sports facilities, from tennis to moorings for your craft. With all this on your doorstep, living lifespan to the maximum will be a part of your every day.

 

2. Investment In Emaar Karachi

Emaar Pakistan Investment

The project has a total investment of AED 8.8 billion and will include a series of master-planned communities. It will set new benchmarks in commercial, residential, and retail property within Pakistan.

Karachi will be home to Crescent Bay, a 75-acre development featuring high- and mid-rise towers for residential and commercial use, a shopping center, and a five-star beachfront hotel. The buildings will contain approximately 4,000 residential apartments.

Close to the DHA golf course, Crescent Bay, located within Karachi’s DHA Phase 8, will also offer individual architectural styles for each tower within the development. All three projects (Crescent Bay, Crescent Bay 2, and Crescent Bay 3) are expected to be completed in the coming five years.

 

3. All About Emaar Karachi (Location, Properties, Investment Potential)

Emaar Karachi ALl About

Emaar Karachi Location Map

Crescent Bay is located in DHA Phase 8 zone D, near Clifton and Defense Housing Authority (DHA) Karachi, Sindh. Emaar Karachi is a subsidiary of global property developer Emaar Properties PJSC. And Crescent Bay is one of their developments, spread on 108 Acres of terrestrial. In July 2010, its contract was given to Paragon Constructors for Rs 1.5 billion.

 

Emaar Karachi Property Features

Several features of Emaar Karachi projects make a reasonably lucrative investment, here are few features:

  1.     Spectacular visions of sea and landscaped areas
  2.     Beautifully carved park walkways
  3.     Dedicated public open spaces such as parks and plazas
  4.     Access to 5-star hotel, retail location, and mosque
  5.     Sports facilities and jogging tracks
  6.     The retail area includes restaurants and leisure activities
  7.     Access to common beaches
  8.     Car drop off locations at entrances

 

Finishes

  1.     High-level ceilings in all rooms
  2.     High quality finishes throughout
  3.     Fitted wardrobes in each bedroom
  4.     Designer fitted kitchen
  5.     Marble kitchen benchtop
  6.     Imported stainless-steel sink with mixer tap
  7.     High quality imported sanitary fixtures and fittings
  8.     Ceramic floor tiles and skirting
  9.     Master bathroom

 

Amenities

  1.     Kids play area
  2.     Business center
  3.     Gymnasium
  4.     Communal barbecue area
  5.     Children’s pool
  6.     Outdoor swimming pool

 

Investment Potential

An Emaar’s overview of Investment in Karachi is as follow:

 

Bedroom Apartment

Type

Sq Ft

1 1 1274
2 1,2,3 1871-2193
3 1,2,3 2307-2554
4 1,2,4 3194-3853

 

4. How And When To Sell Property?

Emaar Pakistan How To sell

How And When To sell Property? The question most sellers ask is how to transfer property ownership in Pakistan? The property selling process takes place in the office of Karachi’s land development authority. There are a few points to consider when you have the house for sale in Pakistan. These are as follows:

  1.     Preliminary research and finding an agent
  2.     Agent’s commission
  3.     Token money
  4.     Initial deposit
  5.     No-demand Certificate (NDC)
  6.     Taxes
  7.     Transfer letter

 

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THE FUTURE OF REAL ESTATE BUSINESS IN PAKISTAN

How much we all are aware of the fact that real estate in every country holds equal and essential importance when it comes to business but there are some factors that affect the rate of growth of this business. If we talk about real estate business in Pakistan, then the elements that intervene in the elevation rate of real estate are the economic condition of the country, overseas Pakistanis that spend in the country, the taxes that government impose, interest rates, and similar factors join the list but what we still get to know is that the property business in Pakistan did not catch any lower standards which happens to be a piece of good news for all the business dealers of property.

Real Estate Business in Pakistan

Real estate business in Pakistan is favorable these days because of the economical and pocket-friendly prices of lands that are a huge plus for buyers whereas I might add, given the circumstances of the country this was not expected but after all the investigation and thorough looking at the property news of Pakistan, I can happily tell you that this is the best time to invest.

Yes, I am not and will never disagree with the fact that there still are some contributory agents that do interfere in getting your hands on the right property and it might cost you a bit or all of your investment but even then we have Real Estate agencies to guide and help through your decisions.

Now as we are considering the positive side of the situation which is better real estate business, we must acknowledge that the owners or sellers have kept the property prices low, this is not only beneficial for the investment maker but also for the seller because it helps find a better investor in less time which ultimately ends in lesser pain in the neck.

pakistan's real estate business
 

Future of Real Estate Business

So if you want to know about the future of the Property Market of Pakistan then you should know that apart from all the GDP rate and socioeconomic tightening the country is doing well in the real estate zone. As much taxes has the new government set and all the new set of rules that are now implemented in the cities might cause a problematic surge among the vendors of the land but eventually, it declares a reasonable buying and selling equation that is helpful to both, the sellers and the buyers.

One more thing about the real estate news in Pakistan is that the rate of dishonesty is still on the rise. There can be pyramid schemes to get the buyer trapped and bewitching offers for the sellers to misguide so to keep track of all these wrongdoings and also to make sure you do not fall into the hands of culprit there are real estate agencies that help buyer and seller meet and settle rest of the deal but again, there is yet no guarantee of what kind of real estate agency you run into. All you can do is make sure things are authentic at your end.

real estate business's future

Pakistan’s Real Estate News

As much as the politics and other entities interfere in Pakistan’s Real Estate there are high chances of it getting suppressed but unlike that, we have seen the revenue going up in the past few days. There again can be a lot of reasons for that but for now, I can contemplate that most of the changes and interventions have turned out affirmative for the Real Estate zone of Pakistan. I have gathered some statistical figures that help you understand the Pakistan real estate forecast and growth of the property business.

Properties in Karachi have shown an elevation of 225% from the last five years while the city of Lahore has displayed a raise of 146% whereas the Capital city Islamabad has clearly been growing its property business by 143%.

Not only this but the experts say that if we analyze the CPEC project has also got the underprivileged area of Pakistan, Gwadar a raise of 200% which should be considered nothing but success.

Even the coming situation of pandemic did a lot of damage to the country’s economy that also affected real estate in one way or another but the government soon opened the cities for construction and that I believe brought a state of, if not growth then at least maintenance in the property buying and selling sector.

Real Estate forecast and Sector Analysis in Pakistan

Let’s conclude and talk about the real estate sector analysis in Pakistan that is again, based on all the ongoing events in the country. This way the analyses become baffling because of what factors should be acknowledged and what not creates chaos. However, one thing that should always be considered is the government reforms. Lately, we went through the crises of Bahria town Karachi but that is not the issue anymore however what can be the issue is the old methodologies and prevalence of corrupt systems.

The corrupt system not only includes a pile of fraud dealers but also the people who claim to be experts in the field of real estate, this guides the people on the wrong path and leads to monetary damage.

Next what I think is the hardest to solve is the black money investment in real estate that is done without any questioning however now the government has taken measures to stop it.

Also, the fear of investment in overseas Pakistanis takes off the real estate growth opportunities but with time this will also be eliminated and hope for betterment in the real estate sector is seen.

There are now various factors and laws being introduced by the government and the buyers as well as the sellers are happy to be part of it since new reforms are kind of a guarantee to bring change.

real eastat forecast
 

 

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Video tour

The Consumer Financial Protection Bureau announced on Wednesday a proposal to delay the effective date of the TILA-RESPA Integrated Disclosure rule until Oct. 1.

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We’re ready for the TRID rules!

At 5 p.m. EST June 17, the Consumer Financial Protection Bureau issued a statement that the effective date for the TILA-RESPA Integrated Disclosure (TRID) rules would be pushed back to Oct. 1, 2015.

CFPB Director Richard Cordray said in a prepared statement: “The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until Oct. 1, 2015. We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks. We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time.”

Rainier Title has been working towards the TRID implementation for over a year and felt prepared for August 1st. However, with the proposed delay we will be taking this opportunity to continue our education and training of TRID. While we believe that we have been proactive and ready for this change, there are still so many unknowns that will have to be addressed at the time of implementation. The industry should still prepare for 45-60 days for transaction to close due to the new timing parameters of the forms.

We’re working hard to be ready for all changes!

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Real Estate Roundup

Active Home-Building Industry Will Lead to More Demand for Warehouse Space

Strong consumer spending and the rise in housing construction activity are currently the prime factors for the incredible rebound of the U.S. industrial real estate sector, and experts say as home buying continues to increase, so will demand for warehouse space. — From NRE Online

To Buy or Not to Buy: That Is the Developer’s Question

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