All Forum Posts by: Vijay Kurhade

Construction agreements or contractors are of different types with so many different terms; apart from Legal help as an expert 

Which are some of the areas/terms you think if not paid attention and understood properly results in risk potentials?

Any real life cases experienced which could help understand them without violating any NDA; please do share them (remove all confidential important data)

Thanks in Advance

Hello;

First of all thanks for taking time out to go through my post.

Many listing websites have similar homes/properties as well recommender algorithms;  my observation so far is most of

what are shown as matching or similar properties to any listing have so many different things.

Property is not something like Apparels or Gadgets where you can match some Characteristics and list them for similarity. More than helping

they seem to take Buyers/Investors in further web of spiraled choices(great many are off their requirements) and to an extent make decision process longer and bit confusing.

As an Industry expert; what is your honest Opinion about Similar Homes or Recommender features on listing websites.  How do they add value or Help Buyers and Where do they fail to add any value in Decision making?

Thanks in Advance.

Regards-

Vijay

Hello;

Each property buyer(self-use/tenant/investor) have set of unique demands and objectives, and irrespective of firs-time or seasoned buyers 

typically requirements/specification are around

1] Type of Property : Depending on family or personal reasons/preference; such as a single-family home, a condominium, a commercial property, or an investment property.

2] Property Location/Area: Specific needs for the neighborhood, accessibility to parks or shopping areas,

or closeness to schools or public transportation when it comes to the location or area of the property.

3] Property features/Amenities : May have particular demands for the property's amenities or features,

such as a Size, layout, required number of bedrooms or bathrooms, a garage,

or parking space, a swimming pool or outdoor area, or a particular architectural design.

4] Budget: May have a budget in mind, which can be anywhere between the least and highest amount they are willing to spend.

5] Timetable: May have a certain timetable in mind for buying or renting a property,

which may be influenced by variables like work relocations, academic calendars, or financial objectives.

6] Returns anticipated: For investment properties, clients may have certain expectations for the profits or income the property will produce, which may affect their choice of property.

As an experienced realtor or cre agent; do you think there are any other areas which are either specified by clients or

which too play very important role in understanding Client Requirements better so that what is suggested to them is fairly to strongly

matching what they are looking for and helps you shorten duration to closings?

Also; Is there any difference with First-Time Clients to Seasoned Clients as far as sharing of Property Requirements goes?

Thanks in Advance. Take Care.

Regards-

Vijay

Quote from @Edward Adams:

User dashboards for CRE (Commercial Real Estate) developers and builders can vary depending on the specific needs of the organization. However, some essential data items that should be included in their dashboard are:

1. Project performance metrics: This includes metrics such as project completion status, construction progress, budget utilization, and revenue forecasting.

2. Sales and leasing data: This includes information on sales and leasing activity, occupancy rates, lease renewal rates, and rental income.

3. Market trends and insights: This includes data on the current market trends, competitor analysis, and economic indicators that can impact the CRE industry.

4. Construction and maintenance data: This includes data on equipment maintenance, work order management, vendor management, and contract compliance.

5. Risk management metrics: This includes data on risk assessment, risk mitigation, insurance coverage, and legal compliance.

6. Financial data: This includes key financial data such as cash flow, revenue, expenses, and profit margin.

7. Collaboration and communication tools: This includes features such as document management, project management tools, and communication tools to help streamline workflow and improve collaboration among team members.

By having these essential data items in their dashboard, CRE developers and builders can easily monitor their performance, make informed decisions, and stay ahead of the competition in the highly competitive real estate industry.

Edward Adams; I sincerely appreciate you sharing such valuable insights.
Have a great weekend and beyond.
Take Care.

As a real estate developer or general contractor/builder who has one or many projects going on; which data you like to view or monitor on regular basis such that  it helps you get overall summary of business  like 

Projects

  Ongoing/Upcoming/Completed/Sold Out/Available/Delayed

Sites

     Suggested/Shortlisted/Visited/Offered/Acquired

Progress

Financials
       Budgets/Expenses/Sales/Income/Debt/Equity/Returns

Risks/Concerns

Collaboration

Calendar / Notifications


If someone building CRE software for property developers to contractors; want to make system useful and relevant for its users,
which items are desirable or must on users Dashboard so that it helps them get needed business summary.

Thanks in Advance

As an expert, what advise or tips you will give some one who wants to begin with Commercial Real Estate (offices-industrial-multi family-retail-warehouses-hospitality..) brokerage; how should they focus on getting clients, which all services help building niche resulting in happy customers and eventually branding, scaling so that they manage to stay afloat and find long term success.

Thanks in Advance.

There are so many listing sites from zillow to trulia to compass to redfin to realtor to houselights to 100s of others.

Most of they have same set of features(property details, neighborhood insights, tax records, property records, recent transaction records, estimates etc..); even many shared customers; then what real advantage they serve for an Buyer/Seller/Agent;  in the end one has to pay for listings and followups on many since we try to list on multiple of them.

Thanks in advance.

All the Best

When you are representing a Buyer your aim is to close the deal at as lower as possible; but when you are representing a Seller you want to bring as much top dollar as possible to your client.

There are comparative analysis and other methods; at the same time knowing How much in hurry your client is another important parameter to know your negotiation power mainly time and deal baseline.

If all this practices are so well documented, Then what makes some agents successful at getting best negotiations to their clients resulting in closed deals and satisfied clients But many agents fail to achieve what their clients can accept and close deals.

What is that successful agents apply which other fail in negotiations?

Is it something like For Buyer Agent you always start with 10-20% discounted Offer or as Sellers Agent you try to start negotiation at fair market value with maybe 2-5% room for discounts?

Or this cannot be generalized and is case to case?

Thanks in Advance

Quote from @Nathan Grabau:

I think that this is market specific and largely depends on the buyer. I also think that some of these things have diminishing returns for people. 

To focus on one on the list, neighborhood, different buyers have different desires for their neighborhood, not all of which drive up price. I would not want to be in an urban area, I also do not need incredible schools, but I do want a quiet area. With regards to diminishing returns, in the South Denver area, there are two municipalities, Cherry Creek and Cherry Hills Village, that the typical person does not know are two different areas. That being said, the typical home value in Cherry Creek is about 950k and the typical home value in Cherry Hills Village is 2.8 million. Most people, if they had 2 like kind homes, would not consider there to be enough value to be in Cherry Hills Village, but for a small segment of the market, paying 3 times as much for a home, is an acceptable trade off to get into Cherry Hills Village. 

What I would say, is one of these area's is lacking compared to the others, that will substantially hurt your market value, especially as today's buyer gets more picky. 

Nathan Grabau, you have a very valid point. What makes sense in a property is so much individual specific; property which may be Dream Home for me may not be for you due to your criteria in it.

But again wont Finance and Actual Property size along with Location be on top for majority of buyers unless you have money to invest in upmarket neighborhoods like areas you have mentioned as an example.
 
Appreciate your valuable insights.

Quote from @Lien Vuong:

I can speak of Boston market and working with buyers - 

Price

Property Size

Internal Layouts

Locality/Neighborhood

Future Appreciation

Quality of Construction

Accessories

Project Amenities

The first 3 are definitely very important and really determine the 'value' of the opportunity in the sense that it has to offer the right price and rental yield with a good layout to be able to execute on it. 

Lien Vuong, Appreciate your valuable inputs.