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Setting up a Real Estate Business in Washington the USA - Assignment Example

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This paper "Setting up a Real Estate Business in Washington – the USA" focuses on the property prices in the USA observed steep decline during 2008 – 2009 because of economic recession. The property sector debacle resulted in up to 70% reduction in prices of property units.  …
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Setting up a Real Estate Business in Washington the USA
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Download file to see previous pages To offer top quality real estate services (documentation, sale or purchase assistance, leasing, mortgage, rental and consultation etc.) in an ethical manner and create long-term business relationships with valued clients.
The sole proprietor has chosen to target individual investors and genuine buyers (households), which demand real estate services such as consultation, purchase assistance and documentation for acquisition, leasing, rental and mortgage of low and medium cost residential and commercial property units. Indeed, the owner will first opt to establish relationships with property investors and potential customers after which it will enter in the high-level property sector. Obviously, a property broker or agent does not succeed in a market unless it has strong base and reputation in the marketplace.
The products to be offered are, of course, residential and commercial plots (including SBs - shops and buildings), apartments, flats, ready shops and leased business premises, houses, villas etc. The real estate agent will receive permission from actual sellers to offer their properties in a market after which estate services will be rendered. In between, the owner of an agency will also invest in some units to ensure additional income from sale – purchase of self-owned units.
The commission will be charged at the rate of 1 - 3% depending upon the nature of property, which includes its location, elevation, designing, interior, an interest of buyers, facilities and living environment in surrounding areas etc. Usually, the commission rate will be higher if an agent has to put extra efforts to bring interested parties on the negotiation table and persuade to reach consensus. Similarly, if many buyers are available for a single property unit, the broker may persuade a specific party (that will offer higher commission rate) to reach the agreement with the seller, thereby neglecting others for that unit.
The office will be located on a busy commercial street or residential area, so that maximum number of customers will be attracted.     ...Download file to see next pagesRead More
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