Published on: 13 August 2019
Last Updated on: 11 October 2021
If you are into real estate where you are trying to buy yourself a nice and suitable place and are unable to do so whom do you approach?
A real estate agent is one who possesses knowledge about every real estate property available in his area. For example, if you are looking for a place with a silent environment or if you are looking for a house with a garden view, or if you are looking for a sun-facing property then you can keep your demands in front of him(after hiring a suitable one)and he will surely come up with options which meet your demands.
Now a question arises in the mind that why should we take the help of a real estate agent. The answer to the question is very simple. When using an agent’s help saves money and time and the struggle of finding the perfect home by yourself. You save all the hustle and bustle and get the perfect option in an instant but when it comes to the real benefits of working with an experienced real estate agent we can sum it all up as follows.
Quicker solutions
You get options based on previous results. For example, if you are unable to find the perfect house on the first chance then an experienced agent will come up with the perfect house for you which is better than the last one thus saving a lot of your time.
Anticipating problems
An experienced real estate agent is always known to the place he will show you the property. Thus he knows the pros and cons of the place. For example, if you are looking for a place with certain specific pros like view with the silent environment then your agent will already possess the knowledge of the place like that.
Solid reputation
If you meet an experienced real estate agent you will come across to the conclusion that he stands a fair and strong reputation among all other agents. He will be respected because he possesses the knowledge and skill to get anyone what type of property they are looking for.
Statistics information
With an experienced real estate agent you will be able to analyze the place well. He will have knowledge about the area of all types of statistics and crucial market data of other clients. So he will be able to guide you to a place well suitable according to your taste of needs.
Professional guidance
When you come across an experienced real estate agent you will find that he possesses knowledge about everything. He would k ow the area, the history, and geography of the property. He will be able to tell you and scrutinize for you the best options available according to your taste saving you a lot of effort.
So if you are into real estate then always go for the experienced agent who has a good reputation and knowledge. Not only he will help you save time in choosing the right property but also save effort and all the other problems you might face. You can also take help from an expert like Larry Weltman. For over a decade Larry Weltman Toronto has advised the real estate industry on various fronts where he has the expertise and where agents have needs.
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If you're considering moving to Westlake, Ohio, you might be wondering whether it's the right place for you. This suburban community located on the western edge of the Greater Cleveland area offers a high quality of life, top-rated schools, and a strong economy. However, there are some drawbacks to consider as well. In this article, we'll explore the pros and cons of moving to Westlake, the housing market, and various aspects of the community to help you make an informed decision.
Pros Of Living In Westlake, OH
Strong Economy And Job Market
Westlake has a robust economy with a diverse range of industries, including healthcare, manufacturing, and professional services. The area boasts a low unemployment rate and plenty of job opportunities for those seeking employment.
High Quality Of Life
Westlake residents enjoy a high quality of life, with access to beautiful parks, shopping centers, and a variety of recreational activities. The community is known for its friendly atmosphere and strong sense of community.
Top-Rated Schools
Westlake is home to some of the best schools in the state, with a strong focus on academic achievement and extracurricular activities. The school district consistently receives high ratings, making it an excellent place for families with children.
Recreational Opportunities
Westlake offers a wide range of recreational opportunities, from parks and nature trails to sports facilities and community events. Whether you prefer outdoor activities or organized sports, you'll find plenty to do in this suburban community.
Cons Of Living In Westlake, OH
Higher Cost Of Living
The cost of moving to Westlake is higher than the national average, primarily due to housing costs. If you're considering a move to the area, be prepared to budget accordingly.
Weather
Westlake experiences all four seasons, with cold, snowy winters and hot, humid summers. If you're not a fan of harsh weather, this might be a drawback for you.
Limited Public Transportation
While there are some public transportation options available in Westlake, the area is primarily car-dependent. You may find that having a personal vehicle is necessary for getting around.
Housing And Real Estate In Westlake
Housing Market Overview
The housing market in Westlake offers a variety of options, from single-family homes to condos and townhouses. Home prices tend to be higher than the national average, but the appreciation rates are strong, making it a potentially sound investment.
Types Of Homes
Westlake has a diverse range of housing options, from charming historic homes to modern new builds. No matter your preferences, you're likely to find a home that suits your needs and tastes in this community.
Renting Vs. Buying
Deciding whether to rent or buy in Westlake depends on your financial situation and long-term plans. While renting offers flexibility and fewer responsibilities, buying a home can be a good investment due to the strong housing market.
Neighborhoods In Westlake
Westlake has several neighborhoods to choose from, each with its own unique character and amenities. Some popular neighborhoods include Hilliard Lakes, King James, and Westwood Estates. It's essential to research and visit different areas to find the one that best fits your needs and lifestyle.
Safety And Crime Rate In Westlake
Westlake is generally considered a safe community with a low crime rate compared to national averages. However, as with any area, it's essential to take precautions and stay informed about local crime trends.
Dining And Nightlife In Westlake
Westlake boasts a diverse dining scene, offering a range of cuisines, from casual eateries to upscale restaurants. The community also has a growing nightlife scene, with bars, breweries, and entertainment venues catering to various tastes and preferences.
Cultural Attractions And Events In Westlake
Westlake is home to several cultural attractions, including the Westlake Historical Society, art galleries, and local theater productions. The community also hosts various events throughout the year, such as the Westlake Music Festival and the Westlake Fall Festival.
Commuting And Transportation
Westlake is conveniently located close to major highways, making it easy to commute to nearby cities like Cleveland. However, public transportation options are limited, so having a personal vehicle is often necessary. The Cleveland Hopkins International Airport is also nearby for those who require air travel.
Healthcare Facilities In Westlake
Westlake has excellent healthcare facilities, including St. John Medical Center and various outpatient clinics. The community is also within easy reach of renowned hospitals in the Greater Cleveland area, such as the Cleveland Clinic and University Hospitals.
Life In Westlake OH
Westlake, Ohio, offers a high quality of life, strong economy, and top-rated schools, making it an attractive option for those considering a move. While there are some drawbacks, such as the higher cost of living and limited public transportation, the benefits of living in this community may outweigh the negatives. Ultimately, the decision to move to Westlake will depend on your personal preferences and priorities. Another important part of moving to Westlake is the moving process. You need to find professional Westlake local movers as they will assist in every part of your process.
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There are many reasons to want to value a house.
A new addition to the family may need additional rooms, a work promotion in another location, or even just time for a change may require the home to be sold.
Another reason to value a property is to identify a person’s current financial position. This may be necessary for those starting a business or needing additional finance.
How do people learn the value of their houses? Here are three ways.
Top 4 Ways Of Learning The Value Of Your House
1. Online Valuation Tools
One of the easiest ways to get a valuation is to use one of the many online valuation tools available. They use public data to price your home.
These tools use the automated valuation model (AVM). The valuations are based on data retrieved from public records like deeds of ownership, property transfers, and tax assessments. A mathematical formula is also applied, taking data from recent sales in the area.
The challenge with relying on AVMs is that they’ll value every property, regardless of the available data, possibly giving an inaccurate value.
To effectively use an AVM, do it from a real estate site that also includes a ‘confidence score.’ This value means a professional has checked the result from the AVM and given a score based on how close it is to market value. Any AVM plus a confidence score over 90% can be considered.
2. Comps
One of the most common ways to get a current value for a house is to check out recent sales in the same area.
Take a look around the neighborhood at comparable homes. These are known in the industry as ‘comps.’ When made public, the results of these sales can be an easy predictor of the values in the area.
An ‘apple for apples’ approach needs to be applied here. If the house next door is a little more run-down but has an additional bedroom, that value isn’t a good comparison. If one down the road, with an equal number of rooms, was renovated around the same time, that’s a closer valuation.
The way to get the best valuation for your home is to find four comps — two at the higher price range and two at the lower. Go for something that’s somewhere in the middle.
Remember that values change quickly; any sale over three months ago may not match the current market.
3. Professionally Appraised
The most expensive but arguably the most accurate way to value a home is to get it professionally appraised. These people have seen hundreds to thousands of comparable properties and can give you a correct value.
A 2018 survey revealed that ¼ of US homeowners valued their properties this way.
Lenders will require an appraisal before approving a mortgage; however, they’ll want it done by their own appraisers.
Appraisers may even suggest changes that can be made to increase the property value.
A professionally presented pre-purchase appraisal by a reputable appraiser makes it easier for the potential buyer to decide. This is one task that they don’t have to do.
Appraisers are independent contractors. They get paid per appraisal; they don’t earn commission and therefore offer unbiased opinions.
4. House Valuation Made Easy
Using an AVM is the most convenient way for a person to value their home; however, it’s possibly the least accurate.
Spending the time to compare recent sales on comparable properties in the area is a closer way to get a more accurate price. Choosing a value mid-range of these is the best way.
Unbiased professional appraisers will provide the most accurate value, but at a cost.
Whether using an AVM, checking out local comps, or hiring a professional, there is one surefire way to know the value of a house.
The value is whatever someone else is willing to pay for it!
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"Is real estate investment trusts a good career path?" the answer to this question is absolute ‘Yes.’ This business is already attracting lots of beginner investors into the market because it consists of a high return on investment.
REITs are actually companies that own finance-producing real estate across various sectors, and investors get huge benefits from this. However, there are a number of requirements to qualify as real estate investment trusts (REITs).
The main purpose of this company is to help communities grow, revitalize, and thrive. This real estate investment trust is located in every state and is considered a crucial part of the United States economy. Now, discuss this in detail.
What Is A Real Estate Investment Trust (REIT)?
As already discussed above, a real estate investment trust or REIT is an investment property that funds income-generating real estate assets. This fund is managed by a firm of shareholders who invest funds in properties such as timberlands, hotels, shopping centers, hospitals, warehouses, apartment buildings, etc.
A REIT is similar to an exchange-traded fund (ETF) or mutual fund. A mutual fund aggregates a number of securities or stocks into a single group. Then, rather than purchasing individual fund shares, investors can purchase shares of a mutual fund.
In a similar way, investors can acquire shares or partial ownership in a real estate investment trust to reap the financial benefits of investing in multiple pieces of real estate or other securities simultaneously.
An advantage of real estate investment trusts is that they offer good investment returns to the investors. This factor is attracting many to invest in this asset. Now, what do you think, Is real estate investment trusts a good career path?
How Does A Company Qualify As A REIT?
There are some requirements for a company to qualify for real estate investment trusts, and these requirements are listed below:
You need to have at least a hundred shareholders.
Fifty percent of the shares should not be held by five or fewer individuals.
The company should be managed by trustees or a board of directors.
Be an entity that is taxable as a corporation.
The company must pay at least ninety percent of its taxable income as shareholder profits each year.
Obtain a minimum of 75% of its gross income from rents, mortgage, or sales of real estate
Lastly, invest at least 75% of its total assets in real estate.
How Can You Invest In Real Estate Investment Trusts? An investor or a company must buy stocks just like public stock. The investors may buy shares in an exchange-traded fund or REIT mutual fund. On the other hand, there are many jobs available in real estate investment trust, and these include asset management, property management, development, and much more.
Pros Of Real Estate Investment Trusts (REITs) - Is Real Estate Investment Trusts A Good Career Path?
There are some pros and cons of REITs that you need to consider before choosing a real estate investment as a career path.
Have a look at these below-described pros of real estate investment trusts:
i). Performance: This is proven to perform well due to the appreciation of commercial properties.
ii). Diversification: Investing in REIT is regarded as an investment portfolio where the securities and other stocks are down.
iii). Dividends: Provides a stable income stream for investors.
iv). Liquidity: You can easily buy and purchase shares in the market.
v). Transparency: This investment trust is traded on vital stock exchanges that operate under the same rules.
Cons Of Real Estate Investment Trusts (REITs) - Is Real Estate Investment Trusts A Good Career Path?
Now, let’s know the major cons related to real estate investment trusts, and these are described below:
i). Minimal Control: If you are investing in this firm, then be prepared because you cannot control operational decisions, such as plans and strategies.
ii). Management Fees: You may be charged with high transactions and administrative fees.
iii). Investment Risk: There are some factors that can affect your investment, and this includes tax laws, geography, debt, interest rates, and property valuation.
iv). High Tax Payment: The dividends can be taxed the same as normal income, and this is the drawback of REIT. Here, you may have some clarity to your question, “Is real estate investment trusts a good career path”.
V). Slow Growth: More than 90% of profits are given back to investors, and only ten percent are reinvented.
What Are The Different Types Of REITs?
There are actually five types of real estate investment trusts, and these are described below:
1. Mortgage REITs
There is only ten percent of REIT investments are in the mortgage, and this is regarded to be very less risky. For diversifying your portfolio, you must consider this investment for your firm.
2. Office REITs
The name of this investment trust itself signifies that these are investments in office buildings. Office real estate investment trusts get income from the rental income. However, there are some major factors, such as vacancy rates, employment rates, capital, etc., that you need to consider if you are interested in office rent.
3. Healthcare REITs
Healthcare REITs are an excellent choice as in the US; healthcare costs are rising rapidly. This type of trust includes nursing homes, retirement homes, medical centers, hospitals, etc. Hence, it is directly involved in the development of the healthcare system.
4. Residential REITs
Residential REITs include several kinds of rental properties like PGs, job holders, etc. However, before considering this know the economic growth, vacancy rate, job opportunities, and the population.
5. Retail REITs
It is estimated that around twenty-four percent of the total REITs are owned by retail. Therefore, investing in these real estate investment trusts can be the best decision that you can consider in 2024.
What Are The Best Paying Jobs In Real Estate Investment Trust?
Now that you know the answer to “Is real estate investment trusts a good career path,” it is time for you to know about something important!
Before you can figure out how many jobs are available in real estate investment trusts, you need to know which REIT jobs pay the best. Our research indicates that sales representatives, leasing agents, broker positions, fund managers, and a variety of other positions in real estate investment trusts (REITs) are the ones with the highest pay.
The advantages will increase more when you own your own land ventures. Presently, we should talk about the top divisions that get the most significant pay in the land venture trusts.
1. Asset Manager
The Asset Management department of REITs is in charge of monitoring the portfolio's financial and operational performance. They manage client assets in accordance with investment preferences and goals. Additionally, these managers create, manage, and organize client portfolios.
It is quite possibly the most lucrative work, with compensations going from $70,000 to $1,000,000. They must keep an eye on the business's financial and operational success. They are also in charge of marketing, finding investors, and checking the returns.
Asset management can be a lucrative career choice, particularly for students of investment banking, finance, and economics with strong performance. BlackRock was the largest asset management company in the world at the end of 2019, managing approximately 7043 trillion dollars in assets. Subsequently, this is actually a colossal sum!
2. Property Manager
You might be surprised to learn that there are currently approximately 15,000 property managers employed in the United States, and this number is increasing. A property manager's duties include communicating with customers and negotiating the best prices for the sale or rental of property.
They handle everything, from leasing to collections and property upkeep. The best part is that applicants need not meet any minimum requirements to apply for this position. This job pays anywhere from $55,000 to $65,000 per year, and one of the best things about it is how quickly it can grow.
3. Acquisitions
Because they have to find and evaluate potential acquisition targets, working for this job profile requires a lot of analysis. There are many job opportunities in this sector, and the good news is that it pays well—about $80,000 per year.
They must be adept at problem-solving and aware of new revenue-generating investment opportunities. This position is one of the best in the real estate investment trust industry.
Securing divisions gives paying positions in land speculation trusts. However, this is a real estate industry position with a lot of finance.
4. Investor Relations
All communication with REIT shareholders that faces the outside world is managed by this department of real estate investment management. A typical administration financial backer procures up to $150,000. This is huge, and it is regarded as the REIT's highest-paying job position.
This is your opportunity to work in the finance and accounting division. The best thing about it is that it pays well and has good potential for growth.
In addition, organizing and preparing for the annual meeting, which includes writing a proxy statement and an annual report for the business, is part of the job of investor relations.
Presently, to land this position, you will need a college degree with a foundation in money or bookkeeping.
5. Real Estate Investor
This is quite possibly the best work in the land venture trust industry in light of the fact that, notwithstanding the significant compensation, there are great possibilities of headway in this industry. Their primary function is to help people become financially independent by investing in real estate.
Before investing and trading, this job requires extensive market research, which takes time. It will be mentally and physically demanding because you will be required to carry out a variety of tasks, such as inspecting, maintaining, flipping, purchasing, and restoring the properties. They can increase the value of their investments as a result of all of this.
You really want a degree in bookkeeping, money, or business to turn into a genuine financial backer since you want to think of ways of improving ventures for you as well as your clients. A land financial backer procures somewhere in the range of $15,000 to $15,000 each year.
Bottom Line: Real Estate Investment Trusts Is A Good Career Path
You might have got the answer to your question, “Is real estate investment trusts a good career path”. Consider the pros, cons, and types of real estate investment trusts (REITs), and then you can decide whether it is good for your career path or not. However, according to the experts, REITs are considered a good career path!
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