What is the correct price of a property? We tell you!

We often receive questions from customers about the right time to buy an apartment : now or wait a while until the prices “normalize”? Following discussions with our clients, we decided to address a topic that worries everyone, namely: What is the correct price of a property?

Most of the times, the sellers subjectively choose the sale price due to the sentimental investment, and this tends to be much higher than the market price – an aspect that makes the property difficult to sell. At the other end of the spectrum is the situation where the selling price is well below the market price, which makes potential buyers much more reluctant.

A fair price offers the buyer the security of a fair investment, and the seller trading the property in a much shorter time. The value assigned to a property differs depending on the purpose for which it is valued, giving it market value, investment value, assigned value, fair value or special value.

The assigned value is that value established by the local financial authorities for a plot of land and for the existing construction on it, an assessment that is made for the purpose of property taxation, while the estimated value (or market value) is the value given by an expert appraiser to a property. following a thorough analysis of it.

The estimated value or market value of a property in the real estate marketit can be estimated by three methods:

  • Estimation from a market perspective : this method analyzes existing information by comparing the prices of properties with characteristics similar to the property you want to buy or sell. For this purpose, aspects will be analyzed such as: the area where the property is located, the usable area, the way of compartmentation, the degree of finishing, the floor, the annexes, etc.
  • Estimation from the income perspective. This method analyzes the ability of a property to generate income compared to its costs: utility costs, tax, repairs.
  • Estimation from a cost perspective.In the case of this estimation method, the value of the property is analyzed by deducting the accumulated depreciation from the new cost of construction. To this result is added the estimated value of the land.

When is the ideal time to buy property?

Buying property in times of real estate recession: when stock prices fall, when interest rates rise, when there is a high unemployment rate, when consumer confidence falls, then is the ideal time to buy property. When prices are falling the problem is not how much they will go down, but how much you can buy before prices go up again. Purchasing during a real estate recession and at a good price is as important as your ability to withstand such conditions.

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Best Marketing Strategies For Real Estate

We detail some of the best marketing strategies for real estate, valid strategies to increase sales and real estate leases, and perfect strategies to promote real estate.

Advertise in Google Ads

Competition in the real estate sector is high, and therefore, on some occasions, it is necessary to bet on pay-per-click strategies in Google Ads to appear in the first search results.

What to do to advertise on Google Ads?

  1. Campaigns by location: if you sell or rent properties in different locations, you can carry out campaigns in each of these locations advertising the properties you want to sell or rent. 
  2. Campaigns by property type: you can also carry out campaigns by property type, for example, for homes with three bathrooms, homes with a terrace, homes with 1, 2, or 3 bedrooms, and so on.
  3. Ad copy: creating good ad copy is key to capturing the potential customer’s attention. 
  4. Keyword selection: select very specific keywords to filter the ad so that only really interested people can see it. 

Offer quality content

As we have mentioned before, if you correctly define your buyer persona, you will offer relevant content for that person, content that will resolve doubts about the purchase or rental procedures. Some of these contents can be a glossary of terms used to sell homes, necessary documentation, and even contents about financial information. We must strive to keep our audience educated with useful and quality information!

Virtual reality

Incorporating it into any strategy is a great time saving because it allows potential clients to see the property as if they were inside it, discarding many homes at first to focus on visiting those that interest you.

Work on SEO positioning 

SEO is a marketing strategy that focuses on positioning a web page in the first search results. The higher, the better! Its main objective is to turn a web page into an asset that attracts visits, and that those visits translate into sales.

Email marketing

Email marketing can help real estate to attract new subscribers. It is very important to segment emails well and pay special attention to the frequency of sending and content. Regarding the frequency, various studies affirm that more than 80% of users prefer to receive advertising in the mail only once a month, while only 15% say that they prefer to receive it every day.

Video marketing

In this sector, what is important are the images of the properties. Much more than good descriptions. However, it is a video that exceeds texts and images, undoubtedly because they can capture the attention of potential customers.

Take advantage of social networks.

Social networks are the perfect platform to show homes, real estate philosophy, relevant content for the target audience, etc. Social networks have a great capacity for audience segmentation, so the strategies implemented are usually very successful. However, all the campaigns carried out must be very well cared for and must provide quality content, videos, testimonials, advice, etc.

WhatsApp Marketing

WhatsApp Marketing is a marketing strategy that is realized in this instant messaging application to promote sales. It begins to be used in many sectors as a communication channel with customers and for the sale and promotion of products and services. In the real estate sector, it was not going to be less! WhatsApp Marketing has been a great advance in the real estate sector because it not only allows you to strengthen ties with potential clients, it also allows you to offer them information instantly, photos, videos of properties, etc.

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What Is The Vat On Commercial Rent?

So-called commercial or professional premises may sometimes be subject to VAT or value-added tax depending on whether they are equipped, furnished, or bare. In any case, it is always preferable, as much for the owner as for the tenant, to ask that the rent is subjected to this taxation. This can be of some future benefit to each party.

If your commercial lease contract concerns the rental of premises equipped with furniture, equipment, or various installations, the rent must, in principle, be subject to value-added tax or VAT.

The only case where these types of leases for commercial use are not subject to the taxation in question is when the owner benefits from the franchise regime based on VAT.

Regarding bare premises, the rent is generally exempt from taxation, whether it is a commercial or professional lease. However, the owner can ask to be taxed. To do this, he contacts the tax authorities well before the rental agreement takes effect. This initiative can be profitable for the owner if he has paid VAT during the property’s purchase or construction.

On the tenant’s side, premises subject to VAT could prove to be more appropriate than rent exempt from taxation. This situation would be more profitable because the amount of the tax can be recovered by the occupant of the rented space afterward.

However, the lessor remains the main beneficiary since the lessee cannot under any circumstances deduct this charge from his rental costs. For the calculation, the rent has established a net of tax, then the rate of the tax charge due is added.

Are equipped premises taxable?

In general, commercial spaces equipped with furniture, equipment, or other facilities used for professional activity exercise are subject to value-added tax.

The tax rate is set at 20% of the rent. The only exception concerns cases of benefit from the basic franchise regime. In other circumstances, VAT is still applicable as long as the premises in question are said to be equipped.

The so-called furnished premises mainly concern meeting rooms or professional seats fitted with the furniture required for the activity’s exercise. Likewise, fitted out auditoriums, trade fair stands, and hotel or theater windows are subject to VAT. Tennis courts, exhibition halls, the civil society of a dental practice, or even buildings used as clinics are part of the large family of so-called equipped premises.

In contrast, furnished residential leases are, in principle, exempt from VAT, like unequipped commercial leases. There are at least some exceptions where furnished accommodation spaces are subject to Value Added Tax. If your investment project concerns a rental for a property to be housed, it is preferable to inform yourself more. The constraints are not the same.

As with many other administrative procedures, it is always essential to learn effectively before embarking on any rental agreement. The procedures are indeed somewhat delicate.

A single mistake can lead you to possible more or less inconvenient situations in the future. If you are blocked on certain points in your lease contract, do not hesitate to call on an expert in the matter.

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10 Keys To A Successful Real Estate Sale

Today, the real estate market is synonymous with new challenges. This real estate market has its own rules, in which the real estate professional cannot be improvised, but an agent of change in constant updating.

There is no doubt that the trained and prepared people who are attentive to close lasting relationships with the client are the ones who best perform their role in front of a property sale.

Check out these ten tips to avoid losing one more sale:

Use a CRM

Today the automation of daily tasks, from the smallest to the most relevant, is a mandatory step in any field of work. A complete and efficient CRM Software will give you the means to accelerate and improve your performance and that of your entire team.

Learn to say NO

The agent must be the one that gives direction to management. Being strict is a sign of seriousness and gives client security. Of course, you should not fall into inflexibility. This rule must be compensated with a strong dose of empathy, attention, and sensitivity to the needs of the client.

Know about direct digital marketing

There are numerous massive promotional platforms that are completely accessible and free, such as social media, for example. They must communicate “live” ads, with videos, interviews, or advice. Ideally, avoid hard and static images.

Your profile

It seeks to develop the following qualities as a professional:

  • Learn from mistakes.
  • Perseverance.
  • Optimism.
  • Know how to listen.
  • Be intuitive and have the ability to improvise.
  • Resistance to difficulty.

Trust vs. exclusiveness

The exclusivity term is key because it gives the client certainty that his place is cared for and valued. But without a doubt that the word trust will make that client stay in the real estate or be supported by a freelance agent.

Technological professionalism

Professionalism is a big word, but very few apply it. It is an attitude rather than a level of training. It involves being impeccable and responsible, speaking what is fair, knowing the economy and strategy, and never leaving the phone off the hook (or silenced). The successful agent, in addition to offering vocational skills, must be aware of technological advances.

Sell the area and not the brick

Where an agent values, categorizes, and offers a home will mark the degree of success or failure of an operation. There are agents who do not prioritize the area and insist on selling the property. Well, what will mark the sale will be the area because it is this that will place the property on the market and project its value over time.

Selection of products

A skilled agency or real estate agent will not accumulate a myriad of non-saleable products but will seek to accumulate an inventory of real estate that represents you. In case you select devalued properties as a sales opportunity, it must be proportional, not flood your portfolio with them.

Ability to project over time

It is good practice for an agency to project and plan over time, both in the short and long term. Define sales expectations for the end of the year, and in the next three. Project the growth of branches, modernization of tools, all aspects neatly ordered over time. And be consistent with that.

The important thing is the person and not the property.

Finally, we highlight a specific focus on the sales process: focus on the customer, whatever they need. Know their expectations and find a middle ground between them and the needs of your agency.

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To achieve a successful real estate investment, it is very important to take into account that today, there are relevant tax incentives that are offered to investors who buy real estate. Foreign investment is always welcome and can be freely transferred, which is always positive since there are no major problems for foreigners.

Caution and reflection are the qualities of every great investor.

Find out about the characteristics, conditions, and opportunities of your real estate investment. It never hurts to consult with experts, read recent news, and study the profile of the project’s creators.

Invest in planes

Take into account that the prices in the real estate sector fluctuate less, they do it at a slower speed, and the falls are less drastic than other types of investments. Although it is true that buying on plans is a little riskier due to the maturation times of the projects, they are always more profitable than making the purchase of an already built property.

Discover your investor profile.

They say there are three types of investors: the cautious, the risky, and the saver. The cautious take moderate risks; the risky take great risks, and the savers prefer the security that the utility.

Rate the time factor.

Remember that real estate investment takes time. It is a long-term investment that generally does not begin to pay off before the age of five.

Study the location. Find out about the medium and long-term plans of the area where the property you plan to buy is located. In this way, you can evaluate the development and value of the sector in the future.

Determine the use of your investment.

In real estate, you usually win on two sides. On the one hand, there is the valuation of the property and on the other, the annual net income. In the case of buying a home, reflect calmly on the use of it, will it be to live there or to rent it?

Study the type of property.

There are several real estate options. The first to come out on top of the housing, but there are also commercial and industrial properties. Real estate investment for commercial use is the most profitable option since those who occupy the property do so to generate profits.

Explore new types of investment.

Traditionally, buying and selling are considered. But, fiduciary rights, collective real estate portfolios, and voluntary pension funds with investments in the real estate sector are currently booming. Fiduciary rights are property titles that, without much capital, allow you to own a percentage of commercial property (for example, a hotel or a shopping center), thus receiving a share for the operation of the property, proportional to the money you have invested, and you don’t have to worry about renting or maintaining the property.

Take the opportunities!

The ideal time to invest in the real estate sector depends on several factors, from politics and the economy (at the most global level) to the particular situation of a family. You can always buy a property at a much lower value if you make a good offer. The properties lower their price for various reasons, but the main one is the lack of demand.

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How To Boost Your Real Estate Sales Cycle?

The important thing, to shorten the real estate sales cycle, is to have a macro and micro vision, to think of the overall coherence of the vehicle while mastering the slightest bolt of the engine. You need to take a comprehensive approach to inbound marketing, so you know who you need to talk to and how you need to do it while looking to become more effective.

  1. Understand your customers

The real estate sales cycle takes into account the different stages of the customer journey. However, in the “customer journey,” the most important term remains “customer,” namely: the person behind the buyer or seller.

You need to know this person to better understand him, and so make the needs of your agency (convert prospects into customers) meet those of your prospects (find the professional who will help them find the property of their dreams. or to sell their property in the best conditions).

  1. Offer personalized experiences

Adaptation: this is the keyword, the absolute key to accelerating the real estate sales cycle. Each prospect wants to be at the center of the professional’s attention; each Internet user who reads a blog article wants it to be addressed directly to him and gives him the impression of having been written specifically with the aim of providing him with the information he expected.

This dimension of personalization is, therefore, essential and must guide all your decisions with regard to the journey of customers, whether sellers or buyers.

A good personalized experience is only possible by combining several approaches:

  • Knowledge of prospects (who are they? What do they need?)
  • Mastery of the customer journey (what media do they use? What types of content do they want to read at such and such a time?)
  • The creation of content capable of meeting needs (in terms of format, length, relevance, etc.)
  • The development of a conversion tunnel (to pass from contacts to prospects, then from prospects to customers )
  • Qualification and follow-up of prospects (using a CRM adapted to your sector of activity )

Of course, you also need the tools to mix these different approaches in real-time without spending entire days there. Hence the need to use process automation.

  1. Automate your marketing actions

Automating tasks helps speed up processes: this is true of any industry, and it is also true of the real estate sales cycle.

Since you need to collect information about your prospects, send them the right content at the right time, follow their progress in the conversion funnel, and organize the distribution of messages according to their position in the purchasing cycle, these End-to-end tasks would be far too time-consuming and require you to spend all of your working time doing just that. At the expense of other daily tasks, including field prospecting and monitoring of mandates.

  1. Offer services that meet the needs of your prospects

All this will remain ineffective, however, if you do not offer relevant and qualitative services. Indeed, your services are the foundation of your marketing strategy, without which it would collapse at the slightest gust of wind.

As soon as the services offered by your agency meet 100% of the needs of your prospects, you increase your chances of convincing them to trust you, and you considerably speed up your real estate sales cycle.

  1. Outsource your marketing strategy to cross the finish line faster than others

It’s all very well, this story of the real estate sales cycle and acceleration. But, for the uninitiated, this advice is not necessarily easy to apply. Carroll Shelby was certainly a very talented automotive engineer, but he was not able to make each of the parts of a car himself; for that, he needed complementary talents, gifted in mechanics. After all, everyone’s job.

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Differences Between Real Estate Referral And An Affiliate

A referral applied as a real estate acquisition technique increases your sales channels, so you are more likely to increase your sales. Although a referral is quite similar to an affiliate, there are quite a few differences.

An affiliate is a person regardless of whether they are a friend, family or even an acquaintance who is part of a real estate company or agency on the recommendation of someone who works within.

However, a real estate referral does not work directly or indirectly for a real estate agency or manager. It is rather about using the contacts, friends, or acquaintances that we have in a database to get more sales and contacts.

The good thing about having these two systems, both affiliates and real estate referrals is that it is a relationship in which both parties win.

Thanks to a referral, you can get better results, depending on the work you do, how you contact them and the agreement you make. And as for the owner of the real estate agent or agent, he also wins since the referral can provide other contacts with which you save money by avoiding advertising on other channels and avoiding time publishing on social networks and the Internet.

How to get real estate referrals and contacts?

Currently, there are several methods to get contacts. One of them is the lifelong method, that is, word of mouth. It is about commenting on this option to all the people you know and explaining what you offer. For example, if you sell electronic products, you can tell your customers about a very good offer on a next-generation mobile.

In the case of such real estate, the key is to use all possible channels to generate contacts. As we mentioned before, the classic system is word of mouth and working with the people around you. It is about using the environment and its acquaintances to get customers. In the case of a real estate agent, it is always good to have a couple of apartments for sale or rent at a good price to offer among your friends.

In case they are not interested, they can always meet someone who knows someone else and that among those people is a possible buyer. The good thing about this system is that both parties win since attracting other people and telling them that we are on our side is an opportunity to offer compensation in return in the form of a discount, search service, etc.

Another less classic and more modern way of obtaining referrals is to consult clients of clients through the use of real testimonials. This is where the originality and work capacity of each agent comes into play. For example, imagine that you are a real estate agent and your company has a flat that needs to be sold urgently. If you know people who have many contacts in the network, it is possible that you will sell them faster if you ask for help from the closest customers.

Think of a customer who knows 1,000 people, and those 1,000 people know 1,000 other people. Advertising a property in this way is a way to reach more people using a referral. You can always reward the referral in some way to thank him for putting you in contact with more people.

Remember, capturing people by offering real customer testimonials works. Finally, there are other systems, such as the purchase of databases with contacts of people interested in buying and selling homes in certain areas.

You can also try setting up a digital contest or advertise it on social networks, on a blog, on forums. The possibilities of capturing through the network are almost endless.

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