Cebu Online Realty, Real Estate News Updates

Good real estate agents know they can’t always get the price you expect to get. They know the market dictates your property’s price.

“Find a knowledgeable agent who knows your market and is realistic about setting your price. Don’t go with someone who promises you a higher-than-market-value price just to get you to list with them! That is a good way NOT to sell your home.”

Few things to look for in a Real Estate Agent

It doesn’t matter whether you are buying or selling. And it doesn’t matter whether you respond to a printed advertisement, see an agent’s name on a sign, or are referred by a friend or relative, it is important to select the right agent. In fact it might be worth interviewing at least a couple before you make a final decision. At the very least you should arm yourself with some clear criteria like the ones above before making your final decision.

Don’t deal with an agent who spends a lot of effort trying to market additional high-priced products and services. The primary service your agent can offer you is fairly simple: to set a realistic price, and to represent you in the market place. When it comes to additional services such as special listings, “talking house” products, or “virtual tours”, ask yourself if these will attract prospective buyers and help you sell your property more quickly.

Be sure your agent is part of a national network? This is less important than it used to be because there are fewer and fewer truly independent agents out there. Most agents in Canada are affiliated with a national chain, and all have access to MLS listings. Being part of a national chain is especially important if you’re selling in one city and moving to another. Your selling agent can refer you to a professional, compatible agent in your destination city - and keep in close contact with that agent so both your selling and buying efforts are closely coordinated.

Check on experience and productivity. As with most professions, experience pays in real estate. Experienced agents know the market and the marketing process. They’ll have the best chance of quickly and smoothly helping you to buy or sell your home.

Don’t list with a part-time agent. Agents who are full-time professionals have a better feel for the market, have more connections within the industry, and will generally work harder for you. Why? Because their livelihood depends entirely on their ability to successfully and repeatedly close real estate transactions.

Don’t list with an agent who promises he or she can get you an unreasonably high price for your home. Some agents use a high listing price as a ploy to get you to list with them. You soon discover that the market dictates the price. After a few weeks of getting very little traffic at the high price this agent will come back to you and suggest you lower the price in order to generate traffic. Unfortunately, you’ve lost what is usually the most critical time period in selling a home - the first weeks immediately after it’s listed.

Look for an agent who is actively soliciting business. Agents who don’t advertise or who are not actively looking for business are probably talking to fewer people and doing fewer deals. Agents who are out in the market looking for new business have their fingers on the pulse of the market. They know what buyers are looking for, and how much they are willing to pay.

Agents who are part of an active, aggressive local office will have access to “inside” information that could be helpful in your quest to buy or sell a property. Virtually all agents now have access to MLS listings, but new listings often take a number of days to get on the MLS system. A “connected” agent will know about new listings immediately after they come available.

Find an agent who seems primarily interested in sharing expertise and market knowledge in an honest and straightforward manner. Be suspicious of agents who just tell you what you want to hear. Remember that neither you nor your agent can determine the price of your property. It will be determined by the market.

Many of the same questions, hesitations and strategies connected with seeking out professional assistance in any field - whether you’re looking for a doctor, dentist, lawyer or accountant - come into play when you’re selecting a real estate agent.

Author: Irene R. Sino Cruz
Source: Cebu Daily News

AYALA Land Inc. subsidiary Cebu Holdings Inc. would be implementing a major residential project next year to show its optimism over the firm’s prospects in the real estate sector.

“We are seeing the potential (of the real estate sector). We are seeing the demand. That’s why we’re investing,” Cebu Holdings president Rene Almendras said.

Except for a few real estate projects, the real estate industry has been on a slump for the past few years.

The industry slowdown started when the currency crisis hit the Philippines and the rests of Asia.

With the slump, most of the real estate projects were either suspended or even cancelled as demand dropped to practically zero.

Recently though, some companies have started investing in real estate - both on residential and commercial projects.

According to Almendras, the project, a residential development, is a joint venture with an old Cebuano family.

Apart from saying that the project would be a unique one and another first for Cebu, he refused to divulge any other details.

Meanwhile, the company is also looking at the opportunities available in the Cebu South Reclamation Project (SRP), he said.

“We’re studying the market. We’re looking at opportunities,” he said.

Almendras said the company already had discussions with Cebu City government but these were still in the initial stages.

The Cebu City government plans to bid out blocks of SRP to real estate developers, both local and foreign.

The scheme would save the city development costs since it would only be funding the construction of major roads and leave the rest of the road network to the different developers.

The SRP would be divided into blocks for commercial, industrial and other purposes.

He said the company is studying what possible developments could be done at the SRP.

“We’re looking for tourism opportunities both at SRP and outside areas,” he said.

On the other hand, the company has suspended selling its Ayala Heights since it is reengineering the project, he said.

Almendras also disclosed that Ayala Land has committed to build one public school building in Cebu City.

The school would be built at barangay Sibugay-Pong-ol, a mountain barangay in Cebu City.

It forms part of the company’s commitment to build three school buildings in celebration of its 15th anniversary, he said.

In the next 12 months, he said, Ayala Land would be holding various events in relation to its anniversary.