Real Estate Investments 101: The Top Four Reasons Real Estate Agents Fail

“In the real estate business, you learn more about community issues. You learn more about life.

You learn about the impact of the government—probably more than any other profession that I

know of.”-Johnny Isakson

No doubt, an investment in real estate is seen as one of the most lucrative ventures in the

world. However, just because it is considered lucrative and profitable, it does not always mean

that it is right for you. Furthermore, there is no guarantee that you would succeed and flourish in

this particular field. Indeed, taking up a profession in real estate can be incredibly rewarding, 

and it is easy to see why so many individuals would consider in trying their hand at real estate. 

Apart from the persuasive pecuniary enticement entailed in this profession, individuals are also 

given the liberty to work their own hours, have better leverage over their timetables and schedules

plus the income potential is unparalleled. Moreover, working in real estate is an avenue to meet

several people from all walks of life who might be interested in buying or selling properties

which would resultantly expand your social sphere. In just one profession alone, you can reap a

myriad of benefits that would somehow redound to a gainful future if you know just how well to

exploit it. The lure of a money-spinning venture coupled with the promise of prospective clients

would be enough to convince an ordinary individual to dabble in real estate in the form of

hooking up buyers and sellers of their condo in QC or elsewhere.

Unfortunately, their endeavors are not always so successful. But that begs the question: What

makes a real estate agent fail? While most professions have their drawbacks, what is it precisely

that causes one to flop in their endeavors? Well, this list will enumerate just some of the

reasons why.

1.) They do not work hard enough

Success in real estate takes a real commitment to do hard work. To ensure that your prospects

take off from the ground, you need to exercise diligence in your dealings which means you need

to do the hard work. In fact, it has been widely believed that success in real estate can be

achieved through ninety-nine percent hard work and just one percent of sheer luck. From that

assessment alone, you should know that making through it would require your sweat and

tears—occasionally your blood. If you are not ready to commit, perhaps the profession might

not be for you.

2.) They got involved in real estate for the wrong reasons

It might be that the promise of easy money was too tempting to resist and because of this,

individuals have committed their lives to a myriad of real estate endeavors. However, as stated

above, real estate takes hard work, and you certainly cannot expect all of your dealings to 

succeed—much less, succeed immediately. It takes patience and a great deal of time before you

are going to see any significant results. If you are involved in real estate precisely because you

just want easy money, then you are guaranteed to fail. Another reason why some individuals

would try their hand at real estate is because of their unique flair for selling properties coupled

with their proclivity for looking at houses. However, know that being a successful real estate

agent would take so much more than just identifying which houses are pretty and which ones

are not. Examine your reasons for wanting to hop into the industry before committing yourself

to it.

3.) They do not save enough money

Real estate agents who are successful in their endeavors know that money is needed to develop

and build their businesses. Regardless of whether it is in the promotion of their careers or in

developing real estate marketing strategies, their endeavors would inevitably cost them. In this

regard, it is imperative that real estate agents who wish to build on their businesses would be

wise as regards their finances insomuch that they would have enough of it to finance their

budding prospects. Some real estate agents would fail because they do not know the projected

expenses entailed in their businesses. Once they realize just how much it would be, they would

find out that they do not have enough money to live on. Apart from building your investments,

now that you would also need money to buy groceries, pay the mortgage, make car payments,

pay bills in a timely manner—all of which you cannot neglect. For this reason, individuals who

are hoping to try their hand at real estate should know the financial obligations it would

connote.

4.) They do not set goals

Knowing what you want to achieve helps you create a daily, monthly and yearly plan. These

plans would then culminate into a realization of your goal which is why it is paramount to have

them. Your plans would help you map out your objectives for the day, month and year and it

enables you to keep track of where you are and steers you towards the direction you need to be

going to accomplish your goals. Operating sans a plan is akin to navigating rough waters without

a map—you are bound to get nowhere. Having a set of goals and a corresponding set of plans

are critical aspects of a successful business. Real estate agents fail either because they operate

without goals or simply because they do not know how to appropriately set goals or create

realistic plans that can be carried out.

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A Guide To Buying Property in the North’s Posh Community

Vertis North, one of Ayala’s pioneering mixed-use community in the North, should be your next address. The sanctuary of green, rising residential towers, and retail options are all within reach. The development thrives on a self-sustaining model - living, work life, and recreation all in one place.

Vertis North brings luxurious living the Quezon City with its high-rise condominiums. There’s Avida Towers Vita and Sola which has generous space in its units and common areas. Both towers are near the Corporate Center and Vertis North Gardens which allows the residents to relax and pursue leisure activities like running, biking or simply enjoy the free-flowing air and the sun. The highlight of the district’s residential expanse is High Park, an exclusive residential tower by Alveo. High Park has 35-storeys and two towers - Tower One and Two - and offers the opulence of contemporary living. 

With all the development options available, buying a property in Quezon City is a great investment. Thus, here’s a guide on what you should look for in a prime property or a luxury condo.

Consider the architecture

Architecture is what gives the property its value. State-of-the-art condominiums have an air of exclusivity and uniqueness, yet their interiors are practical. The architects and engineer behind well-orchestrated developments should have good track records. The professionals are also credible for they prefer high-grade materials to construct the buildings. Still, look for condos that used natural wood, metals, and stones in its foundations. These materials last longer than unnatural substitutes and replicas.

Go for minimal details

Photo by Naomi Hebert

Most luxury condominiums are fully furnished. The place may resemble a work of art, but the additional fixtures and finishes only add to the cost. These extra “bling” raise expenses once its life cycles come to an end. Besides these touches, make sure that the unit has clear separations for each room. The rooms should have a smart layout meaning the bathroom should be accessible for the guests. Avoid condos with awkward columns and space-wasting hallways.

Ceiling Height and Storage

Photo by Philipp Berndt

When it comes to ceilings, the higher, the better but for condos, it should be 14 feet on average. Ceilings above or below that height aren’t conducive to space.

There should be ample storage areas in the condo, and when additional storage is needed, there should be provisions to build closets. Storage areas should be measured in square footage while ceilings should be in the cubic footage.

Choose the essentials

Photo by Wil Seaman

Living in the city demands time, so dwelling in a residential unit with an in-house laundromat saves the hassle of keeping up with dirty clothes. If a laundromat isn’t available, a laundry area helps. Besides a laundry area, go for a condo with a fitness area. Some residential developments have pools, playing courts or biking and running tracks instead of a gym. These features are more valuable than a pet spa or mini-golf which are exclusive to the affluent. Those amenities also don’t have lasting value. High Park has interactive amenities like its al fresco lounge, fitness gym, pool and play rooms. Their notable feature is the Sky Lounge which is ideal for chilling indoors.

Pick the right view

The view depends on the condo’s location. The best view is a view that gives peace and serenity to the homeowner. Beware of any future developments that may obstruct the view and natural light. 
Vertis North is within the proximity of QC’s central business district. Therefore residents will have a glimpse of the bustling district. Choose a condo unit with an unobstructed view. Tower One has Sky Gardens while Tower Two has Sky Park which are both within the scenic Vertis Park.

Five Queries to Determine Your Home Wants and Needs

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It is far better to buy a wonderful property at a fair price than a fair property at a wonderful price. ~Warren Buffet

It has been said that an investment in knowledge pays the best interest. This wise adage was coined by none other than Benjamin Franklin himself, and it still rings true until today—especially when you are in the market for a real estate property.

Much of your decision would be attributed to the state of your pecuniary resources and financial capability, but knowing what you want and need in a home would undoubtedly make the search for a new home a lot less complicated. Searching for a new home would require you to contemplate over some various considerations, and it is imperative that you be incredibly precise with what these are.

Remember, identifying your particular wants and needs are paramount to finding the ideal residence. Ask yourself the five questions below before even commencing the hose-hunt to guarantee that when you do find your perfect home, it strikes the perfect balance between your wants and your needs.

1.)    Will I buy or rent? 

Before jumping the wagon and deciding to buy for yourself, take a minute if you see yourself staying in the same residence for quite a while (say some years). True enough, real estate investment may be one of the most consistent and lucrative investments there is, but you may not necessarily need a permanent home at the moment. If you are ready to establish roots with your family, then go ahead and search the market for your ideal home. Otherwise, consider the alternative and rent for the time-being.

2.)    How much space do I need? 

Do you have children? Are you living alone? Will it just be you and your wife? Do you have a big family or a small one? These are just some of the questions to ask yourself to help you determine the space you need for you and your family. Additionally, it would be wise to consider if you see your family expanding so that you can adequately prepare for that with square footage. Take note, regardless of the type of property you choose, square footage is going to cost you money so determine how much space you need and how much you can afford. The amount of space may also determine whether you should get a house and lot in Cavite, in Bacoor specifically or a 2BR condo in Quezon City.

3.)    What kind of neighborhood do I prefer?

Looking for a new home is not only constrained to two aspects that being your budget and space you need. You would also need to consider what kind of neighborhood you would like to reside in and can see yourself living in. It is a matter of preference and knowing whether you want a community in proximity to entertainment and commercial centers or do you want to live in a neighborhood that may be a bit far-flung, but is laid back and more family friendly? Knowing what these would help you narrow down your property selection and choose appropriately.

4.)    What amenities am I looking for? 

Contrary to the mistaken belief that major facilities are limited to condominium owners, most real estate developments and properties nowadays already come with an array of amenities. These would certainly help properties sell faster and would sweeten the deal for buyers. Determine what amenities you are looking for and see if those are available in your prospective neighborhood as this can be a determining or deciding factor of which property to buy.

5.)    What are the aspects I am willing to compromise on? 

Remember that, unless you have a sizable budget to accommodate all your wants and needs in a home, you are going to have to compromise on some aspects. Ask yourself how much you want to invest in a home beyond the purchase price, whether in sweat equity or monetary terms, if you cannot find what you exactly want. Take note that your needs should take precedence over your wants and know when you can appropriately compromise. This would make the entire logistics of looking for a home much easier.