We live in the age of information. There is more data out there than ever before and our ability to access it is becoming more sophisticated every day.
So why do you need a licensed real estate salesperson or broker to help you make decisions about site-selection, community development and business development projects?
Aside from the months of course work and studying a licensee does to understand the laws of real estate, licensees understand how all of these laws govern real estate transactions. More importantly, state law requires anyone who provides real estate advisory or transaction services to be licensed.
Have you ever been in a conversation about building in a location where someone talks about the large number of young working professionals who live there? Great, right? You’ve just gotten some informal insight into potential market demographics. In some situations, this informal conversation could actually be a violation of fair housing laws. In the moment this may seem inconsequential, but there can be serious repercussions if a real estate transaction isn’t properly handled.
Other reasons for including a real estate licensee in business development conversations and decisions are simply a matter of business-efficacy. Saving time on listing and leasing negotiations leads to greater efficiency and usually cost-savings as well. Additionally, the market knowledge that licensees have about specific markets and trends in real estate could have a big impact on a business or development project. What was a fair market price five or six months ago may not be a fair market price today.
It is important to know your rights and responsibilities when it comes to real estate and development. Licensed real estate professionals can help ensure this understanding, and help you make decisions that protect your interests.
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.” – Warren Buffet